<SEC-DOCUMENT>0001292814-18-000752.txt : 20180319
<SEC-HEADER>0001292814-18-000752.hdr.sgml : 20180319
<ACCEPTANCE-DATETIME>20180319163234
ACCESSION NUMBER:		0001292814-18-000752
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		185
CONFORMED PERIOD OF REPORT:	20171231
FILED AS OF DATE:		20180319
DATE AS OF CHANGE:		20180319

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMBEV S.A.
		CENTRAL INDEX KEY:			0001565025
		STANDARD INDUSTRIAL CLASSIFICATION:	BEVERAGES [2080]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36165
		FILM NUMBER:		18699146

	BUSINESS ADDRESS:	
		STREET 1:		RUA DR. RENATO PAES DE BARROS, 1017
		STREET 2:		3 ANDAR PARTE
		CITY:			SAO PAULO
		STATE:			D5
		ZIP:			04530-000
		BUSINESS PHONE:		55(11)2122-1414

	MAIL ADDRESS:	
		STREET 1:		RUA DR. RENATO PAES DE BARROS, 1017
		STREET 2:		3 ANDAR PARTE
		CITY:			SAO PAULO
		STATE:			D5
		ZIP:			04530-000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	InBev Corporate Holdings Inc.
		DATE OF NAME CHANGE:	20121219
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>ambevsaform_20f.htm
<DESCRIPTION>FORM 20-F
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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION<BR>WASHINGTON, D.C.&nbsp; 20549</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm 24pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">FORM 20-F</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm 24pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)<BR>OF THE SECURITIES EXCHANGE ACT OF 1934</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><BR>For the fiscal year ended: December 31, 2017</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Commission file number: </FONT></B><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">001-36165</FONT></U></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">AMBEV S.A.<BR></FONT></B><FONT lang=EN-US style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face="Times New Roman">(Exact name of Registrant as specified in its charter)</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Federative Republic of Brazil<BR></FONT></B><FONT lang=EN-US style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face="Times New Roman">(Jurisdiction of incorporation or organization)</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 20pt 0cm 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Rua Dr. Renato Paes de Barros, 1017, 3rd floor<BR>04530-001 S&#227;o Paulo, SP, Brazil<BR></FONT></B><FONT lang=EN-US style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face="Times New Roman">(Address of principal executive offices)<BR></FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Ricardo Rittes de Oliveira Silva, Chief Financial and Investor Relations Officer<BR>Address: Rua Dr. Renato Paes de Barros, 1017, 3rd floor, 04530-001, S&#227;o Paulo, SP, Brazil<BR>Telephone No.: +55 (11) 2122-1200<BR>e-mail: ir@ambev.com.br<BR></FONT></B><FONT lang=EN-US style="FONT-SIZE: 9pt; FONT-WEIGHT: normal" face="Times New Roman">(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Securities registered or to be registered pursuant to Section 12(b) of the Act:</FONT></B></P>

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   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Title of each class</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="50%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Name of each exchange on which registered</FONT></B></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">American Depositary Shares,</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">New York Stock Exchange</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">evidenced by American Depositary</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Receipts, each representing</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1 (one) common share*,</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">no par value</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not for trading, but in connection with the registration of American Depositary Shares, pursuant to the &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; requirements of the Securities and Exchange Commission.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Securities registered or to be registered pursuant to Section 12(g) of the Act: None</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act:</FONT></B></P>

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   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Title of each class</FONT></B></P></DIV></TD>

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   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Name of each exchange on which registered</FONT></B></P></DIV></TD></TR>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Indicate the number of outstanding shares of each of the issuer&#8217;s classes of capital or common stock as of the close of the period covered by the annual report.</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15,710,221,382 common shares, without par value</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.</FONT></B></P>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Yes </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=wingdings>x</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp; No &#61560;</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. </FONT></B></P>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Yes &#61560; No </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=wingdings>x</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.</FONT></B></P>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Yes </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=wingdings>x</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> No &#61560;</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&#167; 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).*</FONT></B></P>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Yes &#61560; No &#61560;</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">* This requirement does not apply to the registrant in respect of this filing.&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company.&nbsp; See definition of &#8220;accelerated filer,&#8221; &#8220;large accelerated filer,&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act. </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Large accelerated filer </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=wingdings>x</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accelerated filer &#61560;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-accelerated filer &#61560; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Emerging growth company &#61560; </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards&#8224; provided pursuant to Section 13(a) of the Exchange Act. &#61560;</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&#8224; The term &#8220;new or revised financial accounting standard&#8221; refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing:</FONT></B></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">U.S. GAAP&nbsp; &#61560;</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">International Financial Reporting Standards as issued by the International Accounting Standards Board&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=wingdings>x</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&#61560;</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">If &#8220;Other&#8221; has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow. N/A</FONT></B></P>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Item 17 &#61560;&nbsp; Item 18 &#61560;</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). </FONT></B></P>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Yes &#61560; No </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=wingdings>x</FONT></B></P>

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   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645672"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">INTRODUCTION</FONT></U></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT size=2>&nbsp;</FONT><FONT style="DISPLAY: none" color=#000000><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">i</FONT></FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645673"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">PRESENTATION OF FINANCIAL AND OTHER INFORMATION</FONT></U></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT size=2>i</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645674"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">MARKET DATA</FONT></U></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT size=2>i</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645675"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">CURRENCY TRANSLATION</FONT></U></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT size=2>ii</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645676"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">TRADEMARKS</FONT></U></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">ii</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645677"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION</FONT></U></A>
   <A href="#_Toc506645676"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">ii</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645678"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">PART I</FONT></U></A>
   <A href="#_Toc506645677"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;<FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">1</FONT></FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645679"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 1.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS</FONT></U></A>
   <A href="#_Toc506645677"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">1</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645680"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 2.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">OFFER STATISTICS AND EXPECTED TIMETABLE</FONT></U></A>
   <A href="#_Toc506645677"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">2</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645681"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 3.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">KEY INFORMATION</FONT></U></A>
   <A href="#_Toc506645680"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">3</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645682"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 4.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">INFORMATION ON THE COMPANY</FONT></U></A>
   <A href="#_Toc506645680"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">25
   <A href="#_Toc506645680"></A></FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645683"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 4A.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">UNRESOLVED STAFF COMMENTS</FONT></U></A>
   <A href="#_Toc506645680"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">47</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645684"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM&nbsp;5.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">OPERATING AND FINANCIAL REVIEW AND PROSPECTS</FONT></U></A>
   <A href="#_Toc506645683"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">47</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645685"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 6.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</FONT></U></A>
   <A href="#_Toc506645684"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">71</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645686"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 7.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS</FONT></U></A>
   <A href="#_Toc506645685"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">85</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645687"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 8.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">FINANCIAL INFORMATION</FONT></U></A>
   <A href="#_Toc506645686"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">94</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645688"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 9.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">THE OFFER AND LISTING</FONT></U></A>
   <A href="#_Toc506645686"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">102</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645689"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 10.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ADDITIONAL INFORMATION</FONT></U></A>
   <A href="#_Toc506645686"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">107
   <A href="#_Toc506645688"></A></FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645690"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 11.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</FONT></U></A>
   <A href="#_Toc506645689"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">129</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645691"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 12.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES</FONT></U></A>
   <A href="#_Toc506645689"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">135</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645692"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">PART II</FONT></U></A>
   <A href="#_Toc506645689"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">137</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645693"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 13.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">DEFAULT, DIVIDENDS ARREARAGES AND DELINQUENCIES</FONT></U></A>
   <A href="#_Toc506645692"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">137</FONT></P></TD></TR>

<TR>

   <TD width="50%" noWrap>

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645694"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 14.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS</FONT></U><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp; </FONT></A>
   <A href="#_Toc506645692"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">138</FONT></FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645695"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 15.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">CONTROLS AND PROCEDURES</FONT></U></A>
   <A href="#_Toc506645692"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">139</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645696"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 15T.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">CONTROLS AND PROCEDURES</FONT></U></A>
   <A href="#_Toc506645695"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">141 </FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645697"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 16A.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">AUDIT COMMITTEE FINANCIAL EXPERT</FONT></U></A>
   <A href="#_Toc506645695"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">142</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645698"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 16B.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">CODE OF BUSINESS CONDUCT</FONT></U></A>
   <A href="#_Toc506645695"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">143</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645699"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 16C.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">PRINCIPAL ACCOUNTANT FEES AND SERVICES</FONT></U></A>
   <A href="#_Toc506645698"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">144</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645700"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 16D.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES</FONT></U></A>
   <A href="#_Toc506645698"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">146</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645701"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 16E.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS</FONT></U></A>
   <A href="#_Toc506645698"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman"></FONT></A></P></TD>

   <TD width="50%" align=right>

   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">147</FONT></P></TD></TR>

<TR>

   <TD width="50%">

   <P style="MARGIN-BOTTOM: 5pt">
   <A href="#_Toc506645702"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 16F.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">CHANGE IN REGISTRANT&#8217;S CERTIFYING ACCOUNTANT</FONT></U></A>
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   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">148</FONT></P></TD></TR>

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   <A href="#_Toc506645703"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 16G.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">CORPORATE GOVERNANCE</FONT></U></A>
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   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">149 </FONT></P></TD></TR>

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   <A href="#_Toc506645704"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 16H.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">MINE SAFETY DISCLOSURE</FONT></U></A>
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   <P style="MARGIN-BOTTOM: 5pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">150</FONT></P></TD></TR></TABLE></DIV><FONT style="DISPLAY: none" color=windowtext><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=windowtext face="Times New Roman"><FONT style="DISPLAY: none" color=windowtext><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=windowtext face="Times New Roman">

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   <A href="#_Toc506645705"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">PART III</FONT></U><FONT style="DISPLAY: none" color=#000000><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp; </FONT></FONT></A></P></TD>

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   <A href="#_Toc506645708"><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ITEM 19.</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none" color=#000000 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">EXHIBITS</FONT></U></A></P></TD>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">INTRODUCTION</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">This annual report on Form 20-F relates to the registered American Depositary Shares, or ADSs, of Ambev S.A., or Ambev, evidenced by American Depositary Receipts, or ADRs, each representing one common share, no par value, of Ambev.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In this annual report, except as otherwise indicated or as the context otherwise requires, the &#8220;Company,&#8221; &#8220;Ambev,&#8221; &#8220;we,&#8221; &#8220;us&#8221; and &#8220;our&#8221; refers to Ambev S.A. and its subsidiaries and, unless the context otherwise requires, the predecessor companies that have been merged out of existence with and into it.&nbsp; All references to &#8220;Old Ambev&#8221; refer to Companhia de Bebidas das Am&#233;ricas &#8211; Ambev, our former subsidiary that had common and preferred shares listed on the S&#227;o Paulo Stock, Commodities and Futures Exchange (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">B3 S.A. &#8211; Brasil, Bolsa, Balc&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">), or the B3 (previously named as </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">BM&amp;FBovespa S.A. &#8211; Bolsa de Valores, Mercadorias e Futuros</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">), and common and preferred ADSs listed on the New York Stock Exchange, or the NYSE, and that was merged out of existence with and into us in January 2014.&nbsp; All references to NAB are to the non-alcoholic beverages in our portfolio other than non-alcoholic beer.&nbsp; All references to &#8220;Brazil&#8221; are to the Federative Republic of Brazil, unless the context otherwise requires.&nbsp; All references to the &#8220;Brazilian government&#8221; are to the federal government of Brazil.&nbsp; All references to percent ownership interests in Ambev do not take into account treasury shares. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><A name="_Toc506645673"></A><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">PRESENTATION OF FINANCIAL AND OTHER INFORMATION</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We prepare our audited consolidated financial statements in accordance with International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or the IASB.&nbsp; The financial information and related discussion and analysis contained in this annual report on Form 20-F are presented in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, except as otherwise specified. Unless otherwise specified, the financial information analysis in this annual report on Form 20-F is based on our consolidated financial statements as of December 31, 2017, 2016 and 2015 and for the three years ended December 31, 2017, included elsewhere in this document.&nbsp; Percentages and some amounts in this annual report on Form 20-F have been rounded for ease of presentation.&nbsp; Any discrepancies between totals and the sums of the amounts listed are due to rounding. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Unless otherwise specified, volumes, as used in this annual report on Form 20-F, include both beer (including near-beer) and NAB volumes. In addition, unless otherwise specified, our volumes refer not only to the brands that we own or license, but also third-party brands that we brew or otherwise produce as a subcontractor, and third-party products that we sell through our distribution network. Our volume figures in this Form 20-F reflect 100% of the volumes of entities that we fully consolidate in our financial reporting. In addition, market share data contained in this annual report on Form 20-F refers to volumes sold.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><A name="_Toc506645674"></A><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">MARKET DATA</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Market information (including market share, market position and industry data for our operating activities and those of our subsidiaries or of companies acquired by us) or other statements presented in this Form 20-F regarding our position (or that of companies acquired by us) relative to our competitors largely reflect the best estimates of our management. These estimates are based upon information obtained from customers, trade or business organizations and associations, other contacts within the industries in which we operate and, in some cases, upon published statistical data. Except as otherwise stated, our market share data, as well as our management&#8217;s assessment of our comparative competitive position, has been derived by comparing our sales volumes for the relevant period to our management&#8217;s estimates of our competitors&#8217; sales volumes for such period, as well as upon published statistical data, and, in particular the reports published and the information made publicly available by, among others, the local brewers&#8217; associations and the national statistics bureaus in the various countries in which we sell our products. Although we have no reason to believe any of this information or these reports are inaccurate in any material respect and believe and act as if they are reliable, we have not independently verified it.&nbsp; </FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CURRENCY TRANSLATION</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In this annual report, references to &#8220;</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">,&#8221; &#8220;</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&#8221; or &#8220;R$&#8221; are to the legal currency of Brazil, references to &#8220;U.S. dollar&#8221; or &#8220;US$&#8221; are to the official currency of the United States and references to &#8220;Canadian dollar&#8221; or &#8220;C$&#8221; are to the legal currency of Canada.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We maintain our books and records in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; However, solely for the convenience of the reader, we have translated certain amounts included in this annual report from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> into U.S. dollars using the selling rate as reported by the Central Bank of Brazil (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Banco Central do Brasil</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">), or the Central Bank, as of December 31, 2017 of R$3.308 to US$1.00 or, where expressly indicated, at an average exchange rate prevailing during a certain period.&nbsp; We have also translated some amounts from U.S. dollars and Canadian dollars into </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; All such currency translations should not be considered representations that any such amounts represent, or could have been, or could be, converted into, U.S. or Canadian dollars or </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> at that or at any other exchange rate.&nbsp; See &#8220;Item 3. Key Information&#8212;A. Selected Financial Data&#8212;Exchange Rate Information&#8212;Exchange Controls&#8221; for more detailed information regarding the translation of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> into U.S. dollars.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><A name="_Toc506645676"></A><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">TRADEMARKS</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">This annual report includes the names of our products which constitute trademarks or trade names which we own or which are owned by others and are licensed to us for our use.&nbsp; This annual report also contains other brand names, trade names, trademarks or service marks of other companies, and these brand names, trade names, trademarks or service marks are the property of those other companies.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><A name="_Toc506645677"></A><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Some of the information contained in this annual report may constitute forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, or the Exchange Act.&nbsp; We have based these forward-looking statements largely on our current expectations and projections about future events, industry and financial trends affecting our business.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Many of these forward-looking statements can be identified by the use of forward-looking words such as &#8220;anticipate,&#8221; &#8220;project,&#8221; &#8220;may,&#8221; &#8220;believe,&#8221; &#8220;could,&#8221; &#8220;expect,&#8221; &#8220;should,&#8221; &#8220;plan,&#8221; &#8220;intend,&#8221; &#8220;estimate,&#8221; &#8220;potential,&#8221; among others.&nbsp; These statements appear in a number of places in this annual report and include, but are not limited to, statements regarding our intent, belief or current expectations.&nbsp; Forward-looking statements are subject to certain risks and uncertainties that are outside our control and are difficult to predict.&nbsp; These risks and uncertainties could cause actual results to differ materially from those suggested by forward-looking statements.&nbsp; Factors that could cause actual results to differ materially from those contemplated by forward</FONT><FONT lang=ZH-CN style="FONT-SIZE: 10pt" face="ms mincho">&#8209;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">looking statements include, among others:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">greater than expected costs (including taxes) and expenses;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the risk of unexpected consequences resulting from acquisitions, joint ventures, strategic alliances, corporate reorganizations or divestiture plans, and our ability to successfully and cost-effectively implement these transactions and integrate the operations of businesses or other assets that we acquire;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">our expectations with respect to expansion plans, projected asset divestitures, premium growth, accretion to reported earnings, working capital improvements and investment income or cash flow projections;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">lower than expected revenue;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">greater than expected customer losses and business disruptions;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">limitations on our ability to contain costs and expenses;</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">local, regional, national and international economic conditions, including the risks of a global recession or a recession in one or more of our key markets, and the impact they may have on us and our customers and our assessment of that impact;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the monetary and interest rate policies of central banks;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">continued availability of financing;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">market and financial risks, such as interest rate risk, foreign exchange rate risk, commodity risk, asset price risk, equity market risk, inflation or deflation;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">our ability to continue to introduce competitive new products and services on a timely, cost-effective basis;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the effects of competition and consolidation in the markets in which we operate, which may be influenced by regulation, deregulation or enforcement policies;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">changes in pricing environments and volatility in commodity prices;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">regional or general changes in asset valuations;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">changes in consumer spending;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the outcome of pending and future litigation and governmental proceedings and investigations;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">global political and economic developments;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">changes in government policies, international trade policies, applicable laws, regulations and taxes in jurisdictions in which we operate including the laws and regulations governing our operations, as well as actions or decisions of courts and regulators;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">natural and other disasters;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">any inability to economically hedge certain risks;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">inadequate impairment provisions and loss reserves;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">technological changes;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">our success in managing the risks involved in the foregoing;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">governmental intervention, resulting in changes to the economic, tax or regulatory environment in Brazil or other countries in which we operate;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">inflation, appreciation, depreciation and devaluation of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the declaration or payment of dividends;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the utilization of Ambev&#8217;s subsidiaries&#8217; income tax loss carry forwards; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">other factors or trends affecting our financial condition or results of operations, including those factors identified or discussed under &#8220;Item 3. Key Information&#8212;D. Risk Factors.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We caution you that forward-looking statements are not guarantees of future performance and involve risks and uncertainties.&nbsp; Forward-looking statements reflect only our current expectations and are based on our management&#8217;s beliefs and assumptions and on information currently available to our management.&nbsp; Actual results may differ materially from those in forward-looking statements as a result of various factors, including, without </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">limitation, those identified under &#8220;Item 3. Key Information&#8212;D. Risk Factors&#8221; in this annual report.&nbsp; As a result, investors are cautioned not to place undue reliance on forward-looking statements contained in this annual report when making an investment decision.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Forward-looking statements speak only as of the date they are made, and we do not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Investors should consider these cautionary statements together with any written or oral forward-looking statements that we may issue in the future.</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">PART I</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name="_Toc506645679"></A><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM 1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not Applicable.</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM 2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OFFER STATISTICS AND EXPECTED TIMETABLE</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not Applicable.</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
KEY INFORMATION</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Selected Financial Data</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following
financial information of Ambev is only a summary and should be read in
conjunction with, and is qualified in its entirety by reference to, our audited
consolidated financial statements and related notes which are included elsewhere
in this annual report on Form 20-F.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The tables below
represent the selected consolidated income statement and balance sheet data as
at and for the years ended December 31, 2017, 2016, 2015, 2014 and 2013 that has
been derived from our audited consolidated financial statements, which were
prepared in accordance with IFRS as issued by the IASB.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Selected Consolidated Income Statement
Data</FONT></I></B></P>
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      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Year Ended
  December&nbsp;31,</FONT></B></P></DIV></TD></TR>
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    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2015</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2014</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2013(1)</FONT></B></P></DIV></TD></TR>
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    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(restated)</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(</FONT></B><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">in R$
      million</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">)</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 20.9pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Net sales</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">47,899.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">45,602.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">46,720.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">38,079.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">35,079.1</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 20.9pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Cost of sales</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(18,041.8)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(16,678.0)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(16,061.4)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(12,814.6)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(11,572.5)</FONT></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Gross
      profit</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">29,857.5</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">28,924.6</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">30,658.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">25,265.2</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">23,506.6</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 20.9pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Sales, marketing and distribution
      expenses</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(11,915.5)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(12,010.5)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(11,177.9)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(9,158.8)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(8,059.9)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 20.9pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Administrative expenses</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,623.8)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,166.1)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,281.3)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1,820.0)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1,748.3)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 20.9pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Other operating income/(expense)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,217.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,223.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,936.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,629.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,761.6</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 20.9pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Exceptional items</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(108.7)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,134.3</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(357.2)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(89.0)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(29.2)</FONT></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Income from
      operations</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">16,426.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">17,105.4</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">18,778.5</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15,826.6</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15,430.8</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 20.9pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Net finance cost</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(3,493.9)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(3,702.0)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,268.2)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1,475.4)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1,561.4)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 20.9pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Share of results of associates</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(3.1)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(5.0)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">17.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">11.4</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 20.9pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Income tax expense</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(5,079.3)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(315.0)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(3,634.2)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,006.6)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,481.4)</FONT></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Net
      Income</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">7,850.5</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">13,083.4</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">12,879.2</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">12,362.0</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">11,399.4</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Attributable
      to:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 20.9pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Equity holders of Ambev</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">7,332.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">12,546.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">12,423.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">12,065.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9,557.3</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 20.9pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Non-controlling interests</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">518.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">536.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">455.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">296.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,842.1</FONT></P></TD></TR></TABLE></DIV>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">
<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: justify; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">We have applied retrospectively
the predecessor basis of accounting to the January 2014 acquisition of control
of Cerbuco Brewing Inc., or Cerbuco, the holding company that owns a controlling
interest in Bucanero S.A., or Bucanero, consistent with the accounting policy
for business combinations between entities under common control. </FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Earnings per Share and Dividend per
Share</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Year Ended
  December&nbsp;31,</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2015</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2014</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2013(1)</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(restated)</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(in R$, unless otherwise
      indicated)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt; TEXT-INDENT: -13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Earnings per common share and per
    ADS(2):</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-
    Basic</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.47</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.80</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.79</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.77</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.75</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-
      Diluted</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.46</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.79</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.79</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.76</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.75</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt; TEXT-INDENT: -13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Dividends and interest on shareholders&#8217; equity per
      share and per ADS (weighted average)(3):</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- Basic
      (R$)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.56</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.66</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.73</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.77</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.58</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- Basic
      (US$)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.17</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.20</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.19</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.29</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.25</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt; TEXT-INDENT: -13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Weighted average number of shares (million
      shares)(4):</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-
    Basic</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15,706</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15,697</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15,696</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15,683</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">12,678</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-
      Diluted</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15,838</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15,823</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15,820</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15,820</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">12,824</FONT></P></TD></TR></TABLE></DIV>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">
<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: justify; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">We have applied retrospectively
the predecessor basis of accounting to the January 2014 acquisition of control
of Cerbuco Brewing Inc., or Cerbuco, the holding company that owns a controlling
interest in Bucanero S.A., or Bucanero, consistent with the accounting policy
for business combinations between entities under common control. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">The calculation of basic earnings
per share is based on the net income attributable to equity holders of Ambev and
the proportional weighted average number of shares outstanding during the year.
Diluted earnings per share is based on the net income attributable to equity
holders of Ambev and by adjusting the weighted average number of shares
outstanding&nbsp; during the year to assume conversion of all potentially
dilutive shares.</FONT></P>
<a name="_bclFooter12"></a><DIV>
<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></P></DIV>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">3</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_13></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Dividend and interest on
shareholders&#8217; equity per share information was calculated based on the amount
paid during the year net of withholding tax.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(4)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Ambev S.A. had 9,694 million
common shares outstanding immediately after Anheuser-Busch InBev SA/NV&#8217;s, or
ABI&#8217;s,&nbsp; contribution of its Old Ambev common and preferred shares to Ambev
S.A. in June 2013.&nbsp; Later in 2013, Ambev S.A. issued another 5,969 million
common shares in connection with the consummation of Old Ambev&#8217;s stock swap
merger with Ambev S.A.&nbsp; The Ambev S.A. common shares issued in connection
with the aforementioned stock swap merger were considered from their issuance
date and, therefore, represented only an additional 2,984 million common shares
for purposes of calculating the weighted average number of Ambev S.A. common
shares for 2013.&nbsp; </FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Selected Consolidated Balance Sheet Data
</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="60%" colSpan=5>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">As at December&nbsp;31,</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2015</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2014</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2013</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(restated)</FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="60%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(in R$ million)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Non-current
      assets</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">62,133.9</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">59,954.6</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">61,861.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">51,414.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">48,276.2</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Property, plant
      and equipment</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">18,822.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">19,153.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">19,140.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15,740.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">14,005.6</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Goodwill</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">31,401.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">30,511.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">30,953.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">27,502.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">27,023.7</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Intangible
      assets</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4,674.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5,245.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5,092.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,754.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,214.0</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Deferred tax
      assets</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,279.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,268.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,749.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,392.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,647.8</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Taxes and
      contributions receivable</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,537.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">347.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">892.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,161.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">474.1</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Trade and other
      receivables</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,999.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,989.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,191.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,742.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,797.2</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Other</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">418.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">437.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">842.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">121.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">113.8</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Current
      assets</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">24,718.0</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">23,886.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">28,314.5</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">20,728.5</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">20,809.0</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Inventories</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4,319.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4,347.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4,338.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,411.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,835.6</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Trade and other
      receivables</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6,662.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5,956.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6,946.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5,300.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4,749.6</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Taxes and
      contributions receivable</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,370.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5,423.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,194.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,581.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,397.0</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Cash and cash
      equivalents</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">10,354.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">7,876.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">13,620.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9,722.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">11,538.2</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Investment
      securities</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">11.9</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">282.8</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">215.1</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">713.0</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">288.6</FONT></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Total
      assets</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">86,851.9</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">83,841.4</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">90,176.3</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">72,143.3</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">69,085.2</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Shareholders&#8217;
      equity</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">47,982.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">46,651.3</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">50,333.7</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">43,644.7</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">44,224.7</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Equity attributable to equity holders of
      Ambev&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">46,008.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">44,825.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">48,331.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">42,221.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">42,992.5</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Non-controlling
      interests</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,974.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,826.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,001.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,423.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,232.2</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Non-current
      liabilities</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">10,180.6</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">8,416.5</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9,700.7</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6,673.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">7,507.8</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Interest-bearing
      loans and borrowings</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,231.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,765.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,316.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,634.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,865.2</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Employee
      benefits</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,310.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,137.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,221.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,757.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,558.3</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Deferred tax
      liabilities</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,329.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,329.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,473.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,737.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,095.7</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Taxes and
      contributions payable</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,189.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">681.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">910.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">610.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">883.0</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Trade and other
      payables</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">606.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">736.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,278.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">390.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">673.9</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Provisions</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">512.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">765.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">499.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">543.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">431.7</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Current
      liabilities (2)</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">28,688.5</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">28,773.6</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">30,141.9</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">21,824.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">17,352.7</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Interest-bearing
      loans and borrowings</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,321.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,630.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,282.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">988.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,040.6</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Trade and other
      payables</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">21,702.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">20,692.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">24,391.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">17,054.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">13,034.8</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Taxes and
      contributions payable</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5,493.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4,282.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4,342.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,543.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,132.3</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Provisions</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">169.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">168.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">123.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">139.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">145.0</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Bank
      overdraft</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1.8</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.0</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2.5</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">99.1</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.0</FONT></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Total shareholders&#8217; equity and
      liabilities</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">86,851.9</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">83,841.4</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">90,176.3</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">72,143.3</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">69,085.2</FONT></B></P></DIV></TD></TR></TABLE></DIV>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">
<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: justify; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">We have applied retrospectively
the predecessor basis of accounting to the January 2014 acquisition of control
of Cerbuco, the holding company that owns a controlling interest in Bucanero,
consistent with the accounting policy for business combinations between entities
under common control. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">The put option granted in the
acquisition of a subsidiary is recorded under current liabilities, which
impacted directly the working capital calculation. </FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 10pt" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT></I></B>&nbsp;</P>
<a name="_bclFooter13"></a><DIV>
<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></P></DIV>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">4</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_14></A>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Other
Data</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">As at and for the Year Ended
      December&nbsp;31,</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2015</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2014</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2013(1)</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(restated)</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(</FONT></B><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">in R$ million, except for
      operating data</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">)</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt; TEXT-INDENT: -13.5pt" align=left><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Other Financial Data:</FONT></I></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt; TEXT-INDENT: -13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Net working capital(2)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(3,970.5)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(4,886.8)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1,827.4)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1,096.3)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,456.3</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt; TEXT-INDENT: -13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Cash dividends and interest on shareholders&#8217; equity
      paid</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">8,819.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">10,330.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">11,490.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">12,059.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">7,333.7</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt; TEXT-INDENT: -13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Depreciation and amortization(3)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,612.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,512.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,074.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,392.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,105.1</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt; TEXT-INDENT: -13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Capital expenditures(4)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,203.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4,132.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5,261.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4,493.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,810.3</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt; TEXT-INDENT: -13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Operating cash flows - generated(5)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">17,874.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">12,344.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">23,580.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15,895.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15,314.8</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt; TEXT-INDENT: -13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Investing cash flows - used(5)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(3,073.0)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(5,898.0)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(5,997.0)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(4,768.0)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(3,811.3)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt; TEXT-INDENT: -13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Financing cash flows - used(5) </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(12,864.2)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(11,645.1)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(15,327.9)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(13,143.8)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(9,506.7)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt; TEXT-INDENT: -13.5pt" align=left><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Other Operating Data:</FONT></I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"> </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt; TEXT-INDENT: -13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Total&nbsp;production&nbsp;capacity&nbsp;-&nbsp;
      million hl(6)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">276.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">280.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">269.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">292.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">280.4</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt; TEXT-INDENT: -13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Total&nbsp; volume&nbsp;sold - million
      hl(7)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">162.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">159.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">169.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">171.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">166.5</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 13.5pt; TEXT-INDENT: -13.5pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Number&nbsp;of&nbsp;employees(8) </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">51,432</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">53,250</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">52,738</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">51,871</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">53,581</FONT></P></TD></TR></TABLE></DIV>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">
<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: justify; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">We have applied retrospectively
the predecessor basis of accounting to the January 2014 acquisition of control
of Cerbuco the holding company that owns a controlling interest in Bucanero
consistent with the accounting policy for business combinations between entities
under common control. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Represents total current assets
less total current liabilities.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Includes depreciation of property,
plant and equipment, amortization of intangible assets and impairment losses
related to these assets.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(4)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Represents cash expenditures for
property, plant, equipment and intangible assets.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(5)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Operating, investing and financing
cash flow data is derived from our consolidated cash flow statements contained
in our audited consolidated financial statements.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(6)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Represents our available
production capacity at year-end; capacity can vary from year to year depending
on mix; &#8220;hl&#8221; is the abbreviation for hectoliters.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(7)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Represents our full-year
volumes.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(8)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Includes all our production- and
non-production-related employees.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Exchange Rate Information</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Since 1999, the
Central Bank has allowed the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">/U.S. dollar exchange rate to float freely, and during
that period, the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">/U.S. dollar exchange rate has fluctuated
considerably.&nbsp; In the past, the Central Bank has intervened occasionally to
control unstable movements in foreign exchange rates.&nbsp; We cannot predict
whether the Central Bank or the Brazilian federal government will continue to
let the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> float freely or will intervene in the exchange rate
market through a currency band system or otherwise.&nbsp; The </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> may depreciate or
appreciate against the U.S. dollar substantially in the future.&nbsp; See &#8220;&#8212;D.
Risk Factors&#8212;Risks Relating to Brazil and Other Countries in Which We
Operate.&#8221;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Since March 2005, all
foreign exchange transactions in Brazil started to be carried out through
institutions authorized to operate in the consolidated market and are subject to
registration with the electronic registration system of the Central Bank.&nbsp;
Foreign exchange rates continue to be freely negotiated, but may be influenced
by Central Bank intervention.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> may depreciate or
appreciate against the U.S. dollar substantially. See &#8220;&#8212;D. Risk Factors&#8212;Risks
Relating to Brazil and Other Countries in Which We Operate&#8212;Our results of
operations are affected by fluctuations in exchange rates, and devaluation of
the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> relative to other currencies, including the U.S. dollar,
may adversely affect our financial performance.&#8221;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following table
sets forth the selling exchange rate, expressed in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> per U.S. dollar, for the periods
indicated.&nbsp; The information in the &#8220;Average&#8221; column represents the average
of the exchange rates on the last day of each month during the periods presented
below.</FONT></P>
<a name="_bclFooter14"></a><DIV>
<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></P></DIV>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">5</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_15></A>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="48%" colSpan=4>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Reais</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"> per U.S.
      Dollar</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Year</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">High</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Low</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Period End</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="52%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2013</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.446</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1.953</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.174</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.343</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2014</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.740</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.197</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.360</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.656</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="52%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4.195</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.575</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.388</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.905</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4.156</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.119</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.483</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.259</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="52%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.381</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.051</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.193</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.308</FONT></P></TD></TR></TABLE></DIV>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">
<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: justify; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Source:</FONT></I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">&nbsp; Central
Bank.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="48%" colSpan=4>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Reais</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"> per U.S.
      Dollar</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Month</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">High</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Low</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Period End</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="52%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">September
      2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.193</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.085</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.135</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.168</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">October
      2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.280</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.132</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.191</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.277</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="52%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">November
      2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.292</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.214</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.259</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.262</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">December
      2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.333</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.232</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.292</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.308</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="52%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">January
      201</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.270</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.139</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.211</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.162</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">February
      2018</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.282</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.173</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.242</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.245</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="52%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">March 2018
      (through March 6, 2018)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.262</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.225</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.252</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.225</FONT></P></TD></TR></TABLE></DIV>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">
<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: justify; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Source:</FONT></I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">&nbsp; Central
Bank.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We pay cash dividends
and make other cash distributions in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; Accordingly, exchange
rate fluctuations may affect the U.S. dollar amounts received by the holders of
ADSs on conversion by the depositary of such distributions into U.S. dollars for
payment to holders of ADSs.&nbsp; Fluctuations in the exchange rate between the
</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and the U.S. dollar may also affect the U.S. dollar
equivalent of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> price of our shares on the B3.&nbsp; For further
information on this matter see &#8220;&#8212;D. Risk Factors&#8212;Risks Relating to Our Common
Shares and ADSs.&#8221;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Exchange Controls </FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">There are no
restrictions on ownership of the ADSs or the preferred shares or common shares
by individuals or legal entities domiciled outside Brazil.&nbsp; However, the
right to convert dividend payments, interest on shareholders&#8217; equity payments
and proceeds from the sale of preferred shares or common shares into foreign
currency and to remit such amounts outside Brazil is subject to exchange control
restrictions and foreign investment legislation which generally requires, among
other things, that relevant investments be registered with the Central Bank and
the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Comiss&#227;o de Valores Mobili&#225;rios</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> (the Brazilian
Securities Commission), or the CVM.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Restrictions on the
remittance of foreign capital abroad could hinder or prevent Banco Bradesco
S.A., the custodian of Ambev&#8217;s ADS program, or the custodian, or holders who
have exchanged Ambev&#8217;s ADSs for shares of Ambev, from converting dividend
distributions, interest on shareholders&#8217; equity or the proceeds from any sale of
shares of Ambev into U.S. dollars and remitting such U.S. dollars abroad.&nbsp;
Holders of Ambev ADSs could be adversely affected by delays in or refusal to
grant any required governmental approval for conversions of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> payments and
remittances abroad.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under Brazilian law
relating to foreign investment in the Brazilian capital markets, or the Foreign
Investment Regulations, foreign investors registered with CVM, and acting
through authorized custodial accounts managed by local agents may buy and sell
shares on Brazilian stock exchanges without obtaining separate certificates of
registration for each transaction.&nbsp; Foreign investors may register their
investment under Law No. 4,131/62, as amended, or Law No. 4,131, or Resolution
No. 4,373, dated September 29, 2014, or Resolution No. 4,373, of the
</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Conselho Monet&#225;rio Nacional</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> (National Monetary Council), or
the CMN.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Law No. 4,131 is the
main legislation concerning foreign capital and direct equity investments in
Brazilian companies and it is applicable to any amount that enters the country
in the form of foreign currency, goods and services.&nbsp; Except for
registration of the capital inflow/outflow with the Central Bank, non-resident
investors directly investing in equity of Brazilian companies do not need any
specific authorization to make such investments.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Portfolio foreign
investments are regulated by Resolution No. 4,373 and CVM Rule No. 560, as
amended.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under Resolution No.
4,373, foreign investors may invest in almost all financial assets and engage in
almost all transactions available in the Brazilian financial and capital
markets, provided that certain requirements are fulfilled.&nbsp; In accordance
with Resolution No. 4,373, the definition of a foreign investor includes
individuals, legal entities, mutual funds and other collective investment
entities, domiciled or headquartered abroad.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In order to become a
Resolution No. 4,373 investor, a foreign investor must:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">appoint at least one representative in Brazil, with
powers to perform actions relating to its investment;</FONT></P>
<a name="_bclFooter15"></a><DIV>
<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></P></DIV>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">6</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">appoint an authorized custodian in Brazil for its
investments, which must be a financial institution or entity duly authorized by
the Central Bank or CVM;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">appoint a tax representative in Brazil;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">through its representative in Brazil, register itself as
a foreign investor with the CVM; and</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">through its representative in Brazil, register its
foreign investment with the Central Bank.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition, an
investor operating under the provisions of Resolution No. 4,373 must be
registered with the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Receita Federal do Brasil</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> (the Brazilian Internal Revenue
Service), or the RFB, pursuant to RFB Normative Instruction No. 1,548 of
February 13, 2015, and RFB Normative Instruction No. 1,634 of May 6,
2016.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pursuant to the
registration obtained by Ambev with the Central Bank in the name of The Bank of
New York, as depositary for the ADS programs of Ambev, or the Depositary, with
respect to the ADSs to be maintained by the custodian on behalf of the
Depositary, the custodian and the Depositary will be able to convert dividends
and other distributions with respect to the Ambev shares represented by ADSs
into foreign currency and remit the proceeds outside Brazil.&nbsp; Pursuant to
CMN Resolution No. 4,373, in order for an investor to surrender ADSs for the
purpose of withdrawing the shares represented thereby, the investor is required
to appoint a Brazilian financial institution duly authorized by the Central Bank
and the CVM to act as its legal representative, who shall be responsible, among
other things, for keeping and updating the investors&#8217; certificates of
registrations with the Central Bank, which entitles registered foreign investors
to trade the underlying shares directly on the B3.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under current
legislation, the Brazilian government may impose temporary restrictions on
remittances of foreign capital abroad in the event of a serious imbalance or an
anticipated serious imbalance of Brazil&#8217;s balance of payments.&nbsp; For
approximately six months in 1989 and early 1990, the Brazilian government froze
all dividend and capital repatriations held by the Central Bank that were owed
to foreign equity investors in order to conserve Brazil&#8217;s foreign currency
reserves.&nbsp; These amounts were subsequently released in accordance with
Brazilian government directives.&nbsp; We cannot assure you that the Brazilian
government will not impose similar restrictions on foreign repatriations in the
future.&nbsp; See &#8220;&#8212;D. Risk Factors&#8212;Risks Relating to Brazil and Other Countries
in Which We Operate&#8221; and &#8220;&#8212;D. Risk Factors&#8212;Risks Relating to Our Common Shares
and ADSs.&#8221;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Capitalization and Indebtedness</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not
applicable.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Reasons for the Offer and Use of Proceeds</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not
applicable.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Risk Factors</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Before making an
investment decision, you should consider all of the information set forth in
this annual report.&nbsp; In particular, you should consider the special
features applicable to an investment in Brazil and applicable to an investment
in Ambev, including those set forth below.&nbsp; In general, investing in the
securities of issuers in emerging market countries, such as Brazil, involves a
higher degree of risk than investing in the securities of issuers in the United
States.</FONT></P>
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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Risks Relating to Brazil and Other Countries in Which We Operate</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Economic and political uncertainty and volatility in Brazil, and the perception of these conditions in the international financial markets, may adversely affect our business.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our most significant market is Brazil, which has periodically experienced rates of inflation higher then expected. Inflation, along with governmental measures to fight inflation and public speculation about possible future measures, has had significant negative effects on the Brazilian economy. The annual rates of inflation, as measured by the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&#205;ndice Nacional de Pre&#231;os ao Consumidor</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> (National Consumer Price Index), was 5.6% in 2013, 6.2% in 2014, 11.3% in 2015, 6.6% in 2016 and 2.1% in 2017. Brazil may experience high levels of inflation in the future. While current levels of inflation are below those experienced in 2016, there can nevertheless be no assurance that levels of inflation in the future will continue the downward trend seen in 2017. Future governmental actions, including actions to adjust the value of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, may trigger increases in inflation.&nbsp; We cannot assure you that inflation will not affect our business in the future.&nbsp; In addition, any effort on the part of the Brazilian government to preserve economic stability, as well as any public speculation about possible future initiatives, may contribute significantly to economic uncertainty in Brazil and may heighten volatility in the Brazilian securities markets and securities issued abroad by Brazilian issuers.&nbsp; It is also difficult to assess the impact that turmoil in the credit markets will have in the Brazilian economy, and as a result on our operations and financial results in the future.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition, Brazil&#8217;s political environment has historically influenced, and continues to influence, the performance of the country&#8217;s economy. Political crises have affected and continue to affect the confidence of investors and the general public, which have historically resulted in economic deceleration and heightened volatility in the securities issued by Brazilian companies. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The recent economic and political instability in Brazil has contributed to a decline in market confidence in the Brazilian economy. Weak macroeconomic conditions in Brazil are expected to continue into 2018. In addition, in the context of the various ongoing investigations into allegations of money laundering and corruption being currently conducted by Brazilian Federal and State authorities the Brazilian economy and political environment have been negatively impacted. The potential outcome of&nbsp; such corruption-related investigations is uncertain, but they have already impacted the general market perception of the Brazilian economy, political environment and the Brazilian capital market. We have no control over, and cannot predict, whether such investigations or allegations will lead to further political and economic instability.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">On August 31, 2016, following months of speculation and citizen protests throughout Brazil, the Senate approved the impeachment of president Dilma Rousseff, and she was replaced by Vice-President Michel Temer as Brazil&#8217;s new president. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">President Temer and his government have been implicated in several ongoing corruption investigations and, we cannot predict, how these allegations, or any additional allegations that may rise, will affect the popular support of the government, its proposed reform agenda, Brazil&#8217;s economy and its political and social stability. In May 2017, several motions for impeachment proceedings against President Temer were filed in Congress by opposition parties following the surfacing of allegations that Mr. Temer had appeared to endorse the bribing of a jailed politician. On June 26, 2017, Brazil&#8217;s chief prosecutor initiated criminal indictment proceedings against President Temer, which were then referred to Congress for an indictment decision. On August 2, 2017, Congress decided by a majority vote against criminally indicting President Temer on these charges, and the charges were dismissed for the remainder of his term in office. On an unrelated proceeding, on June 9, 2017, the Brazilian Supreme Court decided that there was insufficient evidence to rule against President Temer and former President Rousseff on charges relating to illegal campaign financing during President Temer and former President Rousseff&#8217;s 2014 election campaign. In September 2017, Brazil&#8217;s chief prosecutor initiated new criminal indictment proceedings against President Temer, which was, as in the previous proceeding, then referred to Congress for an indictment decision.&nbsp; On September 25, 2017, Congress decided by a majority vote against criminally indicting President Temer on these charges, and the charges were dismissed for the remainder of his term in office. It is possible, however, that Brazil&#8217;s chief prosecutor may bring additional charges against President Temer in the future, and if any of these charges are decided against President Temer, they could ultimately result in his removal from office.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Driven by the recent economic and political instability in Brazil, among other factors, Brazil has faced a series of economic and political difficulties since 2014, including increasing unemployment rates, decreasing </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">consumer and business confidence, falling industrial output, a deficit in Brazil&#8217;s primary accounts, shrinking gross domestic product, increasing uncertainties with regards to Congressional decisions and the significant devaluation and volatility of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; Moreover, the political crisis could worsen economic conditions in Brazil, which may adversely affect our results of operations and financial condition.&nbsp; It is also difficult to assess the impact that the Brazilian political scenario will have in the Brazilian economy, including uncertainty regarding elections in Brazil to occur in 2018, and as a result on our future operations and financial results and on the confidence of investors and the general public. </FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Consumption of beer, other alcoholic beverages and soft drinks in many of the jurisdictions in which we operate, including Brazil, is closely linked to general economic conditions, such that levels of consumption tend to rise during periods of rising per capita income and to fall during periods of declining per capita income. Additionally, per capita consumption is inversely related to the sale price of our products.&nbsp; Besides moving in concert with changes in per capita income, consumption of beer and other alcoholic beverages also varies in accordance with changes in disposable income.&nbsp; Any decrease in disposable income resulting from an increase in inflation, income taxes, cost of living, unemployment levels, political or economic instability or other factors would likely adversely affect the demand for beer, other alcoholic beverages, soft drinks and other non-alcoholic beverages, as well as our results of operations.&nbsp; Moreover, the recent instability and uncertainty in the Brazilian economic and political scenario may adversely affect the demand for our products, which in turn may negatively impact our operations and financial results. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Our results of operations are affected by fluctuations in exchange rates, and devaluation of the real relative to other currencies, including the U.S. dollar, which may adversely affect our financial performance. </FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Most of our sales are in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">; however, a relevant portion of our debt is denominated in foreign currencies, including U.S. dollars.&nbsp; In addition, a significant portion of our cost of sales in 2017, in particular those related to packaging such as cans and bottles made of polyethylene terephthalate, or PET, as well as sugar, hops and malt are also denominated in or linked to the U.S. dollar, which was very volatile in recent years.&nbsp; Therefore, any devaluation of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> when compared to those foreign currencies may increase our financial expenses and operating costs and could affect our ability to meet our foreign currency obligations.&nbsp; Although our current policy is to hedge substantially all of our U.S. dollar-denominated debt and cost of sales against changes in foreign exchange rates, we cannot assure you that such hedging will be possible or available at reasonable costs at all times in the future.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition, we have historically reported our consolidated results in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">. In 2017, we derived 45.0% of our net revenues from operating companies that have functional currencies that are not </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> (that is, in most cases, the local currency of the respective operating company). Consequently, any change in exchange rates between our operating companies&#8217; functional currencies and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> will affect our consolidated income statement and balance sheet. Decreases in the value of our operating companies&#8217; functional currencies against </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> will tend to reduce those operating companies&#8217; contributions in terms of our financial condition and results of operations. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We also incur currency transaction risks whenever one of our operating companies enters into transactions using currencies other than their respective functional currencies, including purchase or sale transactions and the issuance or incurrence of debt. Although we have hedging policies in place to manage commodity price and foreign currency risks to mitigate our exposure to currencies other than our operating companies&#8217; functional currencies, there can be no assurance that such policies will be able to successfully hedge against the effects of such foreign exchange exposure, particularly over the long term.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Brazilian currency has devalued frequently, including during the last two decades.&nbsp; Throughout this period, the Brazilian government has implemented various economic plans and utilized a number of exchange rate policies, including sudden devaluations and periodic mini-devaluations, during which the frequency of adjustments has ranged from daily to monthly, floating exchange rate systems, exchange controls and dual exchange rate markets.&nbsp; There have been significant fluctuations in the exchange rates between Brazilian currency and the U.S. dollar and other currencies. For example, beginning in 2011, the U.S. dollar appreciated 12.5%, 8.9%, 14.6%, 13.4% and 47.0% against the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> in 2011, 2012, 2013, 2014 and 2015, respectively, closing at R$3.905 per U.S. $1.00 as of December 31, 2015.&nbsp; However, the U.S. dollar depreciated 16.5% against the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> in 2016, closing at R$3.259 per U.S.$1.00 as of December 31, 2016, while in 2017, the U.S. dollar appreciated 1.5% against the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">in 2017, closing at R$3.308 per U.S.$1.00 as of December 31, 2017. As of March 6, 2018, the exchange rate was R$3.225 per US$1.00. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Devaluation of the
</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> relative to the U.S. dollar may create additional
inflationary pressures in Brazil by generally increasing the price of imported
products and requiring recessionary governmental policies to curb aggregate
demand.&nbsp; On the other hand, further appreciation of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> against the U.S.
dollar may lead to a deterioration of the current account and the balance of
payments, as well as dampen export-driven growth.&nbsp; The potential impact of
the floating exchange rate and measures of the Brazilian government aimed at
stabilizing the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> is uncertain.&nbsp; In addition, a substantial increase
in inflation may weaken investor confidence in Brazil, impacting our ability to
finance our operations through the international capital markets.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Increases in taxes levied on beverage products in Brazil
and unfair competition arising from tax evasion may adversely affect our results
and profitability.</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Increases in Brazil&#8217;s
already high levels of taxation could adversely affect our profitability.&nbsp;
Increases in taxes on beverage products usually result in higher beverage prices
for consumers.&nbsp; Higher beverage prices generally result in lower levels of
consumption and, therefore, lower net sales.&nbsp; Lower net sales result in
lower margins because some of our costs are fixed and thus do not vary
significantly based on the level of production.&nbsp; We cannot assure you that
the Brazilian government will not increase current tax levels, at both state
and/or federal levels, and that this will not impact our business.&nbsp; In
January 2015 the Brazilian federal government enacted Law No. 13,097, which
introduced a new federal taxation model for beer and soft drinks. The law is a
result of the combined efforts of the Brazilian federal government and beverage
companies with a view to creating a less complex and more predictable tax system
for the industry. The new tax model came into force on May 1, 2015. Among other
changes, the new set of rules establishes that the Excise Tax (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Imposto sobre Produtos
Industrializados</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">), or the IPI Excise Tax, the Social Integration Program
Contribution (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Programa de Integra&#231;&#227;o Social</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">), or the PIS Contribution and
the Social Security Funding Contribution (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Contribui&#231;&#227;o para Financiamento
da Seguridade Social</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">), or the COFINS, are due by manufacturers and
wholesalers and shall be calculated based on the respective sales price
(</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">ad
valorem</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">). Under the previous legislation, the referred taxes
were due exclusively by the manufacturer at fixed amounts per liter of beer or
soft drink produced (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">ad rem</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Moreover, in 2015 the
States of S&#227;o Paulo, Rio de Janeiro, Minas Gerais, Distrito Federal, Rio Grande
do Sul, Cear&#225;, Amap&#225;, Rondonia, Amazonas, Tocantins, Piau&#237;, Maranh&#227;o, Rio Grande
do Norte, Bahia, Pernambuco, Para&#237;ba, Alagoas, Sergipe and Mato Grosso do Sul
increased their ICMS Value-Added Tax rate applicable to beer and/or soft drinks.
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In 2016,
the States of Rio de Janeiro and Acre also increased their respective ICMS
Value-Added Tax rates, scheduled to take effect in early 2017. In 2017, the
States of Goi&#225;s and Amazonas increased their soft drinks and beer ICMS rates,
respectively, which will become effective in early 2018.&nbsp; No assurance can
be given that the Brazilian government, at both state and/or federal levels,
will not consider further tax increases on beverages in the future. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition, the
Brazilian beverage industry experiences unfair competition arising from tax
evasion, which is primarily due to the high level of taxes on beverage products
in Brazil.&nbsp; An increase in taxes may lead to an increase in tax evasion,
which could result in unfair pricing practices in the industry.&nbsp; In 2008,
the federal government issued regulations requiring the mandatory installation
of production (volume) control systems, known as &#8220;SICOBE,&#8221; in all Brazilian beer
and carbonated soft drinks, or CSD, factories in order to assist governments to
fight tax evasion in the beverage industry.&nbsp; Though the objective of
reducing tax evasion was achieved for federal taxes, and while state governments
did start using data from the SICOBE in order to identify potential state tax
evasion, there was still no assurance that unfair competition arising from tax
evasion was, or would be, eliminated from the Brazilian beverage industry.
Nonetheless, the mandatory implementation of SICOBE was suspended in December
2016 and the Brazilian federal government and regulators are developing a new
system with state-of-the-art technology, aimed to reduce costs. &nbsp;Despite
many discussions with the Brazilian government regarding a new system for
implementation, there is not yet any agreement on this subject.
&nbsp;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">The
Brazilian government has exercised, and continues to exercise, significant
influence over the Brazilian economy; Brazilian economic and political
conditions have a direct impact on our business.</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Brazilian economy
has been characterized by significant involvement on the part of the Brazilian
government, which often changes monetary, credit and other policies to influence
Brazil&#8217;s economy.&nbsp; The Brazilian government&#8217;s actions to control inflation
and affect other policies have often involved wage and price controls, the
Central Bank&#8217;s base interest rates, as well as other measures, such as the
freezing of bank accounts, which occurred in 1990.</FONT></P>
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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">10</FONT></P></DIV>
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    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_20></A>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Actions taken by the
Brazilian government concerning the economy may have important effects on
Brazilian corporations and other entities, including Ambev, and on market
conditions and prices of Brazilian securities.&nbsp; Our financial condition and
results of operations may be adversely affected by the following factors and the
Brazilian government&#8217;s response to the following factors:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">devaluations and other exchange rate
movements;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">inflation;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">investments;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">exchange control policies;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">employment levels and labor regulation;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">social instability;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">price instability;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">energy shortages;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">water rationing;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">interest rates and monetary policy;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">liquidity of domestic capital and lending
markets;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">growth or downturn of the Brazilian economy;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">import and export controls;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">exchange controls and restrictions on remittances
abroad;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">fiscal policy and changes in tax laws; and</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">other political, diplomatic, social and economic
developments in or affecting Brazil.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Our
Latin America South operations are subject to substantial risks relating to the
businesses and operations conducted in Argentina and other South American
countries.</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We own 100% of the
total share capital of Latin America South Investment, S.L., or LASI, the net
revenues from which corresponded to 22.5% of our consolidated results of
operations in 2017.&nbsp; LASI is a holding company with operating subsidiaries
in Argentina and other South American countries.&nbsp; As a result, LASI&#8217;s
financial condition and results of operations may be adversely affected by the
political instability, fluctuations in the economy and governmental actions
concerning the economy of Argentina and the other countries in which its
subsidiaries operate and, consequently, affect our consolidated
results.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For example, in the
early 2000s, Argentina experienced political and economic instability.&nbsp; A
widespread recession occurred in 2002, including a 10.9% decrease in real GDP,
high unemployment and high inflation.&nbsp; In the past, the Argentine economic
and social situation has rapidly deteriorated, and may quickly deteriorate in
the future; we cannot assure you that the Argentine economy will not rapidly
deteriorate as in the past.&nbsp; Additionally, in 2017 the Argentinean
</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">peso</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> underwent a significant devaluation, losing 17.2% of its
value relative to the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, impacting the net assets, results and cash flows of our
Argentinean operations. The 2017 devaluation of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">peso</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> relative to the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, and further
devaluations of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">peso</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> in the future, if any, may decrease our net assets in
Argentina, with a balancing entry in our equity. &nbsp;See &#8220;&#8212;Risks Relating to
Our Operations&#8212;Our results of operations are affected by fluctuations in
exchange rates and devaluation of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> relative to other currencies,
including the U.S. dollar, which may adversely affect our financial
performance.&#8221; </FONT></P>
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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">11</FONT></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition, on July 30, 2014 Argentina entered into a selective default of its restructured debt and, in early 2016, U.S. courts ruled that Argentina must make full payments to the remaining holdout bondholders. The devaluation of the Argentine peso, along with inflation and weak macroeconomic conditions in Argentina, could have a material adverse effect on our Latin America South operations and their results, as well as in our ability to transfer funds from and within Argentina.&nbsp; Despite the election of a new presidential government that seems more committed to fiscal responsibility, our liquidity and operations and our ability to access funds from Argentina could be adversely affected to the extent the economic or political situation in Argentina deteriorates, or if foreign exchange restrictions are implemented in the country.</FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> </FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Risks Relating to Our Operations</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">We are subject to Brazilian and other antitrust regulations.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have a substantial share of the beer market in Brazil and thus we are subject to constant monitoring by Brazilian antitrust authorities.&nbsp; In addition, in connection with the 1999 business combination of Companhia Cervejaria Brahma, or Brahma, and Companhia Antarctica Paulista Ind&#250;stria Brasileira de Bebidas e Conexos, or Antarctica, that shaped most of the Brazilian operations as currently conducted by us, we entered into a performance agreement with the Brazilian antitrust authorities, which required us to comply with a number of restrictions, including the divestment of certain assets.&nbsp; Since July 28, 2008, we have been deemed to have complied with all those restrictions, according to Brazil&#8217;s highest antitrust authority, the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Conselho Administrativo de Defesa Econ&#244;mica</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> (Administrative Council for Economic Defense), or the CADE.&nbsp; Nevertheless, we cannot assure you that Brazilian antitrust regulation will not affect our business in the future.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our participation in the Argentine beer market increased substantially following the acquisition of our interest in Quilmes Industrial Soci&#233;t&#233; Anonyme, or Quinsa.&nbsp; Our operation in Argentina is subject to constant monitoring by Argentinean antitrust authorities.&nbsp; We cannot assure you that Argentinean antitrust regulation will not affect our business in Argentina in the future. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">We are subject to regulation on alcoholic and CSD beverages in the countries in which we operate. </FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our business is regulated by federal, state and municipal laws and regulations.&nbsp; We may be subject to claims that we have not complied with existing laws and regulations, which could result in fines and penalties. &nbsp;In addition, we may also be subject to laws and regulations aimed at reducing the availability of beer and carbonated soft drink, or CSD beverages, in some of our markets to address alcohol abuse, underage drinking, health concerns and other social issues.&nbsp; For example, certain Brazilian states and small municipalities in which we operate have enacted legislation restricting the hours of operations of certain points of sale, prohibiting the sale of CSDs in schools and imposing restrictions on advertisement of alcoholic beverages.&nbsp; The Brazilian Congress is also evaluating proposed regulation imposing hygienic seals on beverage cans, as well as regulation on the consumption, sales and marketing of alcoholic beverages, including beer which, if enacted, may impose restrictions on the advertisement of alcoholic beverage products on television during specified times of the day and the hours of operation of certain points of sale, among other things.&nbsp; In addition, there are legal proceedings pending before Brazilian courts that may lead to restrictions on advertisement of alcoholic beverages.&nbsp; These rules and restrictions may adversely impact our results of operations.&nbsp; For further information, see &#8220;Item 4. Information on the Company&#8212;B. Business Overview&#8212;Regulation.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition, there is a global trend of increasing regulatory restrictions with respect to the sale of alcoholic and CSD beverages.&nbsp; Compliance with such regulatory restrictions can be costly and may affect earnings in the countries in which we operate.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">If we do not successfully comply with applicable anti-corruption laws and regulations designed to combat governmental corruption in countries in which we sell our products, we could become subject to fines, penalties or other regulatory sanctions, as well as to adverse press coverage, which could cause our reputation and sales to suffer.&nbsp; </FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Although we are committed to conducting business in a legal and ethical manner in compliance with local and international statutory requirements and standards applicable to our business, there is a risk that our management, employees or representatives may take actions that violate applicable laws and regulations prohibiting </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">the making of improper payments to foreign government officials for the purpose of obtaining or keeping business, including laws relating to the 1997 OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions such as the U.S. Foreign Corrupt Practices Act, or the FCPA.</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></DIV>

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<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">12</FONT></P>

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   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_22"></A>




<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition, on January 29, 2014, the Brazilian government enacted Law No. 12,846/13 imposing strict liability on companies for acts of corruption perpetrated by their employees, or the Brazilian Antibribery Act (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Lei Anticorrup&#231;&#227;o Brasileira</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">). According to the Brazilian Antibribery Act, companies found guilty of bribery could face fines of up to 20% of their gross annual income for the previous year or, if gross income cannot be estimated, such fines could range from R$6 thousand to R$60 million. Among other penalties, the Brazilian Antibribery Act also provides for the disgorgement of illegally obtained benefits, the suspension of corporate operations, asset confiscation and corporate dissolution. The adoption of an effective compliance program may be taken into consideration by Brazilian authorities when applying a penalty under the Brazilian Antibribery Act.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Despite the new Brazilian Antibribery Act, Brazil still has a perceived elevated risk of public corruption, which may, to a certain degree, leave us exposed to potential violations of the FCPA or other anti-bribery laws.&nbsp; For example, a number of high profile corporate corruption allegations have surfaced, principally since the beginning of 2014. See &#8220;&#8212;D. Risk Factors&#8212;Risks Relating to Brazil and Other Countries in Which We Operate&#8212;Economic and political uncertainty and volatility in Brazil, and the perception of these conditions in the international financial markets, may adversely affect our business.&#8221; In that respect, Brazilian authorities currently investigating alleged corruption cases have in the past released a list of companies that had contracted consulting services from a firm part-owned by a former elected government official who has been convicted of corruption and racketeering by Brazil&#8217;s highest court.&nbsp; Years ago, we retained the services of this consulting firm in connection with a specific matter and, thus, have been cited among these consultant&#8217;s clients.&nbsp; We have reviewed our internal control and compliance procedures in relation to these services and have not identified any evidence of misconduct.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Although we have implemented what we understand to be a very robust compliance and anti-corruption program to detect and prevent violations of applicable anti-corruption laws, which includes a strict requirement prohibiting our employees and agents from violating these laws, there remains some degree of risk that improper conduct could occur, thereby exposing us to potential liability and the costs associated with investigating potential misconduct.&nbsp; Our existing internal controls and compliance procedures may not be sufficient to prevent or detect all inappropriate conduct, fraud or violations of applicable law by our employees, agents, and the companies to which we outsource certain of our business operations.&nbsp; If we are not in compliance with anti-corruption laws, anti-money laundering laws and other laws governing the conduct of business with government entities, including under the FCPA and Brazilian Antibribery Act, we may be subject to criminal and civil penalties and other remedial measures, which could harm our brand and reputation and have a material adverse impact on our business, financial condition, results of operations and prospects. Another potential fallout from having our name or brands associated with any misconduct is adverse press coverage, which, even if unwarranted or baseless, could damage our reputation, brands and sales.&nbsp; Therefore, if we become involved in any investigations, subpoenas or other proceedings under the FCPA, the Brazilian Antibribery Act or other applicable anti-corruption statutes, our business could be adversely affected. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Volatility in commodities prices may adversely affect our financial performance.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">A significant portion of our cost of sales is comprised of commodities such as aluminum, sugar, corn, wheat and PET bottles, the prices of which fluctuated significantly in 2017.&nbsp; An increase in commodities prices directly affects our consolidated operating costs.&nbsp; Although our current policy is to mitigate our exposure risks to commodity prices whenever financial instruments are available, we cannot assure that such hedging will be possible or available at reasonable costs at all times in the future. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Set forth below is a table showing the volatility in 2017 prices of the principal commodities we purchase: </FONT></P>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="52%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Commodity</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">High Price</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Low Price</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average in 2017</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Fluctuation</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Aluminum (US$/ton)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2,284.00</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,685.00</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,980.13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">35.5%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sugar (US$ cents/pounds)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.18</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">12.55</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15.78</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">68.8%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Corn (US$ cents/bushel)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">392.25</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">329.50</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">359.22</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">19.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Wheat (US$ cents/bushel) </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">539.25</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">387.25</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">435.76</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">39.3%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">PET (US$/ton)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,045.63</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">892.50</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">970.91</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">17.2%</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sources: Aluminum LME, Sugar ICE, Corn CBOT, Wheat CBOT and PET IHS (formerly CMAI).&nbsp;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></DIV>

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<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">13</FONT></P>

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   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_23"></A>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Contractual and legal restrictions to which Ambev and its subsidiaries are potentially or allegedly subject may be triggered upon the consummation of certain transactions involving our indirect controlling shareholder, Anheuser-Busch InBev SA/NV, or ABI, resulting in adverse limitations to our operations.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Ambev and its subsidiaries are a party to certain joint venture, distribution and other agreements, guarantees and instruments that may contain restrictive provisions that our contractual counterparties may try to interpret as being triggered upon the consummation of certain unrelated transactions of ABI.&nbsp; Some of those contracts may be material and, to the extent they may contain any such restrictive provisions, our counterparties may seek to enforce certain contractual remedies that may curtail material contractual rights and benefits that we have thereunder under the argument that ABI&#8217;s consummation of certain transactions has triggered the referred provisions.&nbsp; Similarly, unrelated transactions consummated by ABI may subject us to further antitrust restrictions in the countries in which we already operate.&nbsp; Any such restrictions may limit the amount and quality of business we conduct in each of those countries.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Competition could lead to a reduction of our margins, increase costs and adversely affect our profitability.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We compete with both brewers and other beverages companies and our products compete with other beverages. Globally, brewers, as well as other players in the beverage industry, compete mainly on the basis of brand image, price, quality, distribution networks and customer service. Consolidation has significantly increased the capital base and geographic reach of our competitors in some of the markets in which we operate, and competition is expected to increase further as the trend towards consolidation among companies in the beverage industry continues.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Concurrently, competition in the beverage industry is expanding and the market is becoming more fragmented, complex and sophisticated as consumer preferences and tastes evolve. Competition may divert consumers and customers from our products.&nbsp; Competition in our various markets could cause us to reduce pricing, increase capital investment, increase marketing and other expenditures, prevent us from increasing prices to recover higher costs, and thereby cause us to reduce margins or lose market share.&nbsp; Any of the foregoing could have a material adverse effect on our business, financial condition and results of operations.&nbsp; Innovation faces inherent risks, and the new products we introduce may not be successful, while competitors may be able to respond more quickly than we can to emerging trends.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Additionally, the unfair pricing practices in some markets and the lack of transparency, or even certain illicit practices, such as tax evasion and corruption, may skew the competitive environment, with material adverse effects on our profitability or ability to operate.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">The ability of our foreign subsidiaries to distribute cash upstream may be subject to various conditions and limitations.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our foreign subsidiaries&#8217; ability to distribute cash (to be used, among other things, to meet our financial obligations) through dividends, intercompany advances, management fees and other payments is, to a large extent, dependent on the availability of cash flows at the level of such foreign subsidiaries and may be restricted by applicable laws and accounting principles.&nbsp; In particular, 45.0% (R$21.5 billion) of our total net revenues of R$47.9 billion in 2017 came from our foreign subsidiaries.&nbsp; In addition, some of our subsidiaries are subject to laws restricting their ability to pay dividends or the amount of dividends they may pay.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">If we are not able to obtain sufficient cash flows from our foreign subsidiaries, this could negatively impact our business, results of operations and financial condition because the insufficient availability of cash at our company level may constrain us from paying all of our obligations.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">We rely on the reputation of our brands and damages to their reputation may have an adverse effect on our sales.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our success depends on our ability to maintain and enhance the image and reputation of our existing products and to develop a favorable image and reputation for new products.&nbsp; The image and reputation of our products may be reduced in the future; concerns about product quality, even when unfounded, could tarnish the </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">image and reputation of our products.&nbsp; An event or series of events that materially damages the reputation of one or more of our brands could have an adverse effect on the value of that brand and subsequent revenues from that brand or business.&nbsp; Restoring the image and reputation of our products may be costly or not possible.&nbsp; </FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Moreover, our marketing efforts are subject to restrictions on the permissible advertising style, media and messages used.&nbsp; In a number of countries, for example, television is a prohibited channel for advertising beer and other alcoholic products, and in other countries, television advertising, while permitted, is carefully regulated.&nbsp; Any additional restrictions in such countries, or the introduction of similar restrictions in other countries, may constrain our brand building potential and thus reduce the value of our brands and related revenues.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Negative publicity focusing on our products or on the way we conduct our operations may harm our business.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Media coverage and publicity generally can exert significant influence on consumer behavior and actions.&nbsp; If the social acceptability of beer, other alcoholic beverages or soft drinks were to decline significantly, sales of our products could materially decrease.&nbsp; In recent years, there has been increased public and political attention directed at the alcoholic beverage and soft drink industries.&nbsp; This attention is a result of public concern over alcohol-related problems, including drunk driving, underage drinking, drinking while pregnant and health consequences resulting from the misuse of beer (for example, alcoholism), as well as soft-drink related problems, including health consequences resulting from the excessive consumption of soft drinks (for example, obesity).&nbsp; Factors such as negative publicity regarding the consumption of beer, other alcoholic beverages or soft drinks, publication of studies indicating a significant health risk from consumption of those beverages, or changes in consumer perceptions affecting them could adversely affect the sale and consumption of our products and harm our business, results of operations, cash flows or financial condition to the extent consumers and customers change their purchasing patterns.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Key brand names are used by us, our subsidiaries, associates and joint ventures, and licensed to third-party brewers.&nbsp; To the extent that we or one of our subsidiaries, associates, joint ventures or licensees are subject to negative publicity, and the negative publicity causes consumers and customers to change their purchasing patterns, it could have a material adverse effect on our business, results of operations, cash flows or financial condition.&nbsp; As we continue to expand our operations into emerging and growth markets, there is a greater risk that we may be subject to negative publicity, in particular in relation to labor rights and local work conditions.&nbsp; Negative publicity that materially damages the reputation of one or more of our brands could have an adverse effect on the value of that brand and subsequent revenues from that brand or business, which could adversely impact our business, results of operations, cash flows and financial condition.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Demand for our products may be adversely affected by changes in consumer preferences and tastes.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We depend on our ability to satisfy consumer preferences and tastes.&nbsp; Consumer preferences and tastes can change in unpredictable ways due to a variety of factors, such as changes in demographics, consumer health concerns regarding obesity, product attributes and ingredients, changes in travel, vacation or leisure activity patterns, weather, negative publicity resulting from regulatory action or litigation against us or comparable companies or a downturn in economic conditions.&nbsp; Consumers also may begin to prefer the products of competitors or may generally reduce their demand for products of our business segment.&nbsp; Failure by us to anticipate or respond adequately to changes in consumer preferences and tastes could adversely impact our business, results of operations and financial condition.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Seasonal consumption cycles and adverse weather conditions may result in fluctuations in demand for our products.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Seasonal consumption cycles and adverse weather conditions in the markets in which we operate may have an impact on our operations.&nbsp; This is particularly true in the summer months, when unseasonably cool or wet weather can affect sales volumes.</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">If
any of our products is defective or found to contain contaminants, we may be
subject to product recalls or other liabilities.</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We take precautions to
ensure that our beverage products and our associated packaging materials (such
as bottles, crowns, cans and other containers) meet accepted food safety and
regulatory standards. Such precautions include quality</FONT><FONT lang=ZH-CN style="FONT-SIZE: 10pt" face="ms mincho">&#8209;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">control programs for primary
materials, the production process and our final products.&nbsp; We have
established procedures to correct issues or concerns that are
detected.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In the event that any
failure to comply with accepted food safety and regulatory standards (such as a
contamination or a defect) does occur in the future, it may lead to business
interruptions, product recalls or liability, each of which could have an adverse
effect on our business, reputation, prospects, financial condition and results
of operations.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Although we maintain
insurance policies against certain product liability (but not product recall)
risks, we may not be able to enforce our rights in respect of these policies,
and, in the event that a contamination or defect occurs, any amounts that we
recover may not be sufficient to offset any damage we may suffer, which could
adversely impact our business, results of operations and financial
condition.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">We
may not be able to protect our intellectual property rights.</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our future success
depends significantly on our ability to protect our current and future brands
and products and to defend our intellectual property rights, including
trademarks, patents, domain names, trade secrets and know-how.&nbsp; We have
been granted numerous trademark registrations and patents covering our brands
and products and have filed, and expect to continue to file, trademark and
patent applications seeking to protect newly developed brands and
products.&nbsp; We cannot be sure that trademark and patent registrations will
be issued with respect to any of our applications.&nbsp; There is also a risk
that we could, by omission, fail to renew a trademark or patent on a timely
basis or that our competitors will challenge, invalidate or circumvent any
existing or future trademarks and patents issued to, or licensed by,
us.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Although we have put
in place appropriate actions to protect our portfolio of intellectual property
rights (including patent applications, trademark registration and domain names),
we cannot be certain that the steps we have taken will be sufficient or that
third parties will not infringe upon or misappropriate proprietary rights.&nbsp;
If we are unable to protect our proprietary rights against infringement or
misappropriation, it could have a material adverse effect on our business,
results of operations, cash flows or financial condition, and in particular, on
our ability to develop our business.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">We
rely on key third parties, including key suppliers, and the termination or
modification of the arrangements with such third parties could negatively affect
our business.</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We rely on
third</FONT><FONT lang=ZH-CN style="FONT-SIZE: 10pt" face="ms mincho">&#8209;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">party suppliers for a range of raw materials for our beer
and non-beer products, and for packaging material, including aluminum cans,
glass, kegs and PET bottles.&nbsp; We seek to limit our exposure to market
fluctuations in the supply of these raw materials by entering into medium- and
long-term fixed</FONT><FONT lang=ZH-CN style="FONT-SIZE: 10pt" face="ms mincho">&#8209;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">price arrangements.&nbsp; We have a limited number of
suppliers of aluminum cans, glass and PET bottles.&nbsp; Consolidation of the
aluminum can industry, glass and PET bottle industry in certain markets in which
we operate has reduced local supply alternatives and increased the risk of
disruption to aluminum can, glass and PET bottle supplies.&nbsp; Although we
generally have other suppliers of raw materials and packaging materials, the
termination of or material change to arrangements with certain key suppliers,
disagreements with those suppliers as to payment or other terms, or the failure
of a key supplier to meet our contractual obligations or otherwise deliver
materials consistent with current usage would or may require us to make
purchases from alternative suppliers, in each case at potentially higher prices
than those agreed with this supplier. Additionally, we may be subject to
potential reputational damage if one of our suppliers violates applicable laws
or regulations. These factors could have a material adverse effect on our
business, results of operations, cash flows or financial condition.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For certain packaging
supplies, raw materials and commodities, we rely on a small number of important
suppliers.&nbsp; If these suppliers became unable to continue to meet our
requirements, and we are unable to develop alternative sources of supply, our
operations and financial results could be adversely affected.</FONT></P>
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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">We are exposed to the risk of litigation.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are now and may in the future be party to legal proceedings and claims (including labor, tax and alcohol-related claims) and significant damages may be asserted against us.&nbsp; See &#8220;Item 8. Financial Information&#8212;A. Consolidated Financial Statements and Other Financial Information&#8212;Legal Proceedings&#8221; and notes 26 and 30 to our audited consolidated financial statements as of and for December 31, 2017, included elsewhere in this annual report, for a description of our material litigation contingencies.&nbsp; Given the inherent uncertainty of litigation, it is possible that we might incur liabilities as a consequence of the proceedings and claims brought against us, including those that are not currently believed by us to present a reasonably possible chance of loss to us.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face="Times New Roman">Our tax contingency has grown in recent years mainly because their principal amount is adjusted on a monthly basis in accordance with the SELIC rate and because of the highly litigious environment in Brazil in connection with tax disputes. Such environment is caused, among other reasons, by the highly complex tax legislation in Brazil, which in many instances reduces certainty of interpretation, as well as impossibility of out of court settlements between the Brazilian IRS and taxpayers. As the administrative phase of our tax proceedings ends and the judicial proceedings begin, the Company will be required to guarantee the amounts under discussion, through insurance bonds, bank guarantees or bank deposits. We will continue to vigorously defend our position in connection with such disputes and we may take, as we have done in the past, the benefit of tax amnesty programs that from time to time are issued by the Federal or State Governments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Moreover, companies in the alcoholic beverage and soft drink industries are, from time to time, exposed to collective suits (class actions) or other litigation relating to alcohol advertising, alcohol abuse problems or health consequences from the excessive consumption of beer, other alcoholic beverages and soft drinks. As an illustration, certain beer and other alcoholic beverage producers from Brazil and Canada have been involved in class actions and other litigation seeking damages. If any of these types of litigation were to result in fines, damages or reputational damage to us or our brands, this could have a material adverse effect on our business, results of operations, cash flows or financial position.&nbsp; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">We may not be able to recruit or retain key personnel.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In order to develop, support and market our products, we must hire and retain skilled employees with particular expertise.&nbsp; The implementation of our strategic business plans could be undermined by a failure to recruit or retain key personnel or the unexpected loss of senior employees, including in acquired companies.&nbsp; We face various challenges inherent in the management of a large number of employees over diverse geographical regions.&nbsp; Key employees may choose to leave their employment for a variety of reasons, including reasons beyond our control.&nbsp; The impact of the departure of key employees cannot be determined and may depend on, among other things, our ability to recruit other individuals of similar experience and skill at an equivalent cost.&nbsp; It is not certain that we will be able to attract or retain key employees and successfully manage them, which could disrupt our business and have an unfavorable material effect on our financial position, income from operations and competitive position.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Climate change, or legal, regulatory or market measures to address climate change, may negatively affect our business or operations, and water scarcity or poor quality could negatively impact our production costs and capacity. </FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">There is a growing concern that carbon dioxide and other greenhouse gases in the atmosphere may have an adverse impact on global temperatures, weather patterns and the frequency and severity of extreme weather and natural disasters.&nbsp; In the event that such climate change has a negative effect on agricultural productivity, we may be subject to decreased availability or less favorable pricing for certain agricultural commodities that are necessary for our products, such as barley, hops, sugar and corn.&nbsp; In addition, public expectations for reductions in greenhouse gas emissions could result in increased energy, transportation and raw material costs and may require us to make additional investments in facilities and equipment due to increased regulatory pressures.&nbsp; As a result, the effects of climate change could have a long-term, material adverse impact on our business and results of operations. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We also face water scarcity and quality risks.&nbsp; The availability of clean water is a limited resource in many parts of the world, facing unprecedented challenges from climate change and the resulting change in precipitation patterns and frequency of extreme weather, overexploitation, increasing pollution, and poor water management.&nbsp; We </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">have implemented an internal strategy in order to considerably reduce the use of water in our operative plants.&nbsp; However, as demand for water continues to increase around the world, and as water becomes scarcer and the quality of available water deteriorates, we may be affected by increasing production costs or capacity constraints, which could adversely affect our business and results of operations.</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Our operations are subject to safety and environmental regulations, which could expose us to significant compliance costs and litigation relating to environmental issues.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our operations are subject to safety and environmental regulations by national, state and local agencies, including, in certain cases, regulations that impose liability without regard to fault.&nbsp; These regulations can result in liability that might adversely affect our operations.&nbsp; The environmental regulatory climate in the markets in which we operate is becoming stricter, with greater emphasis on enforcement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">While we have budgeted for future capital and operating expenditures to maintain compliance with environmental laws and regulations, there can be no assurance that we will not incur substantial environmental liability or those applicable environmental laws and regulations will not change or become more stringent in the future.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">We operate a joint venture in Cuba, in which the Government of Cuba is our joint venture partner.&nbsp; Cuba is still targeted by broad and comprehensive economic and trade sanctions of the United States.&nbsp; Our operations in Cuba may adversely affect our reputation and the liquidity and value of our securities. &nbsp;</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In January 2014, one of our wholly-owned subsidiaries acquired from ABI, a controlling interest of 50% in Cerveceria Bucanero S.A., or Bucanero, a Cuban company in the business of producing and selling beer.&nbsp; The other 50% equity interest in Bucanero is owned by the Government of Cuba.&nbsp; We have the right to appoint the general manager of Bucanero.&nbsp; Bucanero&#8217;s main brands are </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Bucanero</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cristal</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, but it also imports and sells in Cuba other brands produced by certain of our other subsidiaries. In 2017, Bucanero sold 1.8 million hectoliters of beer, representing about 1.0% of our total volume of 162.8 million hectoliters for the year.&nbsp; Although Bucanero production is primarily sold in Cuba, a small portion of its production is exported to and sold by certain distributors in other countries outside Cuba (but not the United States).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Based on U.S. foreign policy, the U.S. Treasury Department&#8217;s Office of Foreign Assets Control and the U.S. Commerce Department together administer and enforce broad and comprehensive economic and trade sanctions against Cuba.&nbsp; These sanctions were strengthened by the Trump administration through a National Security Presidential Memorandum, issued on June 16, 2017, that, among other things, introduced prohibitions on certain financial transactions with certain entities and sub-entities identified by the U.S. Department of State. Although our operations in Cuba are quantitatively immaterial, our overall business reputation may suffer or we may face additional regulatory scrutiny as a result of our activities in Cuba based on the fact that Cuba remains a target of U.S. economic and trade sanctions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition, there have in the past been initiatives by federal and state lawmakers in the United States, and certain U.S. institutional investors, including pension funds, to adopt laws, regulations or policies requiring the divestment from, or reporting of interests in, companies that do business with countries designated as state sponsors of terrorism.&nbsp; Although the United States government ceased to identify Cuba as a state sponsor of terrorism in June 2015, this position may be revised by action of the U.S. government&#8217;s executive branch.&nbsp; If U.S. government policy towards Cuba were to be reversed, with that country being once again designated as a state sponsor of terrorism, Cuba could return to being a target of possible restrictions for U.S. investment.&nbsp; If U.S. investors decide to liquidate or otherwise divest their investments in companies that have operations of any magnitude in Cuba, the market in and value of our securities could be adversely impacted.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Also, the Cuban Liberty and Democratic Solidarity (LIBERTAD) Act of 1996 (known as the &#8220;Helms-Burton Act&#8221;) authorizes private lawsuits for damages against anyone who traffics in property confiscated without compensation by the Government of Cuba from persons who at the time were, or have since become, nationals of the United States.&nbsp; Although this section of the Helms-Burton Act is currently suspended by discretionary presidential action, the suspension may not continue in the future.&nbsp; Claims accrue notwithstanding the suspension and may be asserted if the suspension is discontinued.&nbsp; The Helms-Burton Act also includes a section that authorizes the U.S. Department of State to prohibit entry into the United States of non-U.S. persons who traffic in confiscated </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">property, and corporate officers and principals of such persons, and their families.&nbsp; In 2009, ABI received notice of a claim purporting to be made under the Helms-Burton Act relating to the use of a trademark by Bucanero, which is alleged to have been confiscated by the Cuban government and trafficked by ABI through their former ownership and management of us.&nbsp; Although ABI and we have attempted to review and evaluate the validity of the claim, due to the uncertain underlying circumstances, we are currently unable to express a view as to the validity of such claim or as to the claimants&#8217; standing to pursue it.</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 12pt 18pt; TEXT-INDENT: 3.3pt"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Information technology failures, including those that affect the privacy and security of sensitive customer and business information, could disrupt our operations.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We rely on information technology systems to process, transmit and store large amounts of electronic data, including personal information. A significant portion of the communication between our personnel, customers and suppliers depends on information technology. As with all large systems, our information systems may be vulnerable to a variety of interruptions due to events beyond our control, including, but not limited to, natural disasters, terrorist attacks, telecommunications failures, computer viruses, hackers attacks or other security issues.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We depend on information technology to enable us to operate efficiently and interface with customers, as well as to maintain in-house management and control. We also collect and store non-public personal information that customers provide to purchase products or services, including personal information and payment information.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition, the concentration of processes in shared services centers means that any technology disruption could impact a large portion of our business within the operating regions we serve. Any transitions of processes to, from or within shared services centers as well as other transformational projects, could lead to business disruptions. If we do not allocate, and effectively manage, the resources necessary to build and sustain the proper technology infrastructure, we could be subject to transaction errors, processing inefficiencies, loss of customers, operations disruptions, or the loss of or damage to intellectual property through a security breach. As with all information technology systems, our system could also be penetrated by outside parties with the purpose of extracting information, corrupting information or disrupting business processes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 12pt; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We take various actions with the aim of minimizing potential technology disruptions but all of these protections may be compromised as a result of third-party security breaches, burglaries, cyberattack, errors by employees or employees of third-party vendors, of contractors, misappropriation of data by employees, vendors or unaffiliated third parties, or other irregularities that may result in persons obtaining unauthorized access to company data or otherwise disrupting our business. These or other similar technology disruptions can have a material adverse effect on our business, results of operations, cash flows or financial condition.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Natural and other disasters could disrupt our operations.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our business and operating results could be negatively impacted by social, technical or physical risks such as earthquakes, hurricanes, flooding, fire, power loss, loss of water supply, telecommunications and information technology system failures, cyber-attacks, political instability, military conflict and uncertainties arising from terrorist attacks, including a global economic slowdown, the economic consequences of any military action and associated political instability.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Our insurance coverage may be insufficient to make us whole on any losses that we may sustain in the future.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The cost of some of our insurance policies could increase in the future.&nbsp; In addition, some types of losses, such as losses resulting from wars, acts of terrorism, or natural disasters, generally are not insured because they are either uninsurable or it is not economically practical to obtain insurance.&nbsp; Moreover, insurers recently have become more reluctant to insure against these types of events.&nbsp; Should a material uninsured loss or a loss in excess of insured limits occur, this could adversely impact our business, results of operations and financial condition.</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Risks Relating to Our Common Shares and ADSs </FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">The relative volatility and illiquidity of securities of Brazilian companies may substantially limit your ability to sell our common shares and ADSs at the price and time you desire.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Investing in securities of companies in emerging markets, such as Brazil, involves greater risk than investing in securities of companies from more developed countries, and those investments are generally considered speculative in nature.&nbsp; Brazilian investments, such as investments in our common shares and ADSs, are subject to economic and political risks, involving, among other factors:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">changes in the Brazilian regulatory, tax, economic and political environment that may affect the ability of investors to receive payment, in whole or in part, in respect of their investments; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">restrictions on foreign investment and on repatriation of capital invested.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Brazilian securities markets are substantially smaller, less liquid and more concentrated and volatile than major U.S. and European securities markets.&nbsp; They are also not as highly regulated or supervised as those other markets.&nbsp; The relative illiquidity and smaller market capitalization of Brazilian securities markets may substantially limit your ability to sell the Ambev common shares and ADSs at the price and time you desire.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Deterioration in economic and market conditions in other emerging market countries, as well as in developed economies, may adversely affect the market price of our common shares and ADSs.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Economic and market conditions in other emerging market countries, especially those in Latin America, influence the market for securities issued by Brazilian companies as well as investors&#8217; perception of economic conditions in Brazil.&nbsp; In addition, global financial crisis originating in developed economies, including the subprime debt crisis in the United States and the sovereign debt crisis in Europe, have had an impact on many economies and capital markets around the world, including Brazil, which may adversely affect investors&#8217; interest in the securities of Brazilian issuers such as Ambev.&nbsp; Therefore, the market value of our common shares and ADSs may be adversely affected by events occurring outside of Brazil.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Our current controlling shareholders will be able to determine the outcome of our most significant corporate actions.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our two direct controlling shareholders, Interbrew International B.V., or IIBV, and AmBrew S.A., or AmBrew, both of which are subsidiaries of ABI, together with </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Funda&#231;&#227;o Antonio e Helena Zerrenner Institui&#231;&#227;o Nacional de Benefic&#234;ncia</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, or FAHZ, held in aggregate 72.1% of our total and voting capital stock (excluding treasury shares) as of December 31, 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">ABI indirectly held shares in us representing 61.9% of our total and voting capital stock (excluding treasury shares) as of December 31, 2017.&nbsp; ABI thus has control over us, even though (1) ABI remains subject to the Ambev shareholders&#8217; agreement among IIBV, AmBrew and FAHZ dated April 16, 2013, or the Ambev Shareholders&#8217; Agreement, and (2) ABI is controlled by Stichting Anheuser-Busch InBev (formerly Stichting InBev and Stichting Interbrew), or Stichting, a foundation organized under the laws of the Netherlands, which represents an important part of interests of Messrs. Jorge Paulo Lemann, Marcel Herrmann Telles and Carlos Alberto da Veiga Sicupira, or BRC, and the founding families that were the former controlling shareholders of Interbrew N.V./S.A. (as ABI was then called), or the Interbrew Founding Families.&nbsp; For further information on these matters see &#8220;Item 4. Information on the Company&#8212;A. History and Development of the Company&#8212;The InBev-Ambev Transactions&#8221; and &#8220;Item 7. Major Shareholders and Related Party Transactions&#8212;A. Major Shareholders&#8212;Ambev&#8217;s Major Shareholders&#8212;Ambev Shareholders&#8217; Agreement.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our controlling shareholders are able to elect the majority of the members of our Board of Directors and Fiscal Council, and generally determine the outcome of most other actions requiring shareholder approval, including dividend distributions, the consummation of corporate restructurings, issuances of new shares, sales of materials assets and bylaw amendments.&nbsp; Under Brazilian Law No. 6,404/76, as amended, or the Brazilian Corporation Law, the protections afforded to non-controlling security holders may differ from, or be less comprehensive than, the corresponding protections and fiduciary duties of directors applicable in the U.S. or other jurisdictions.&nbsp; See &#8220;&#8212;As a </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazilian company, Ambev is subject to different corporate laws and regulations than those typically applicable to U.S.-listed companies, which may result in Ambev&#8217;s shareholders having fewer or less well-defined shareholder rights than the shareholder rights of those companies.&#8221;</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Our shareholders may not receive any dividends.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to our bylaws, we generally pay our shareholders 40% of our annual adjusted net income, calculated and adjusted pursuant to Brazilian Corporation Law in accordance with the mechanisms described in our bylaws as presented in our consolidated financial statements prepared under IFRS.&nbsp; The main sources for these dividends are cash flows from our operations and dividends from our operating subsidiaries.&nbsp; Therefore, that net income may not be available to be paid out to our shareholders in a given year.&nbsp; In addition, we might not pay dividends to our shareholders in any particular fiscal year upon the determination of the Board of Directors that any such distribution would be inadvisable in view of our financial condition.&nbsp; While the law does not establish the circumstances rendering the payment of dividends inadvisable, it is generally agreed that a company need not pay dividends if such payment threatens its existence as a going concern or harms its normal course of operations.&nbsp; Any dividends not distributed would be allocated to a special reserve account for future payment to shareholders, unless it is used to offset subsequent losses or as otherwise provided for in our bylaws.&nbsp; It is possible, therefore, that our shareholders will not receive dividends in any particular fiscal year.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Brazilian foreign exchange controls and regulations could restrict conversions and remittances abroad of the dividend payments and other shareholder distributions paid in Brazil in reais in respect of the Ambev common shares (including shares underlying the Ambev ADSs).</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazilian law provides that whenever there is a serious imbalance in Brazil&#8217;s balance of payments or reasons to foresee such a serious imbalance, the Brazilian government may impose temporary restrictions on the remittance to foreign investors of the proceeds of their investments in Brazil.&nbsp; For example, for approximately six months in 1989 and early 1990 the Brazilian government froze all dividend and capital repatriations that were owed to foreign equity investors and had their remittance abroad withheld by the Central Bank in order to conserve Brazil&#8217;s foreign currency reserves at the time.&nbsp; These amounts were subsequently released in accordance with Brazilian government directives.&nbsp; Similar measures could be taken by the Brazilian government in the future.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As a result, the Brazilian government may in the future restrict the conversion and remittance abroad, to ADS holders or holders of Ambev common shares residing outside Brazil, of dividend payments and other shareholder distributions paid in Brazil in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> in respect of the Ambev common shares (including shares underlying the Ambev ADSs).&nbsp; The likelihood that the Brazilian government would impose such restrictions may be affected by the extent of Brazil&#8217;s foreign currency reserves, the availability of foreign currency in the foreign exchange markets on the date a payment is due, the size of Brazil&#8217;s debt service burden relative to the economy as a whole and other factors.&nbsp; We cannot assure you that the Central Bank will not modify its policies or that the Brazilian government will not institute restrictions or delays on cross-border remittances in respect of securities issued in the international capital markets.&nbsp; For further information on this matter, see &#8220;&#8212;A. Selected Financial Data&#8212;Exchange Rate Information&#8212;Exchange Controls.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">If you exchange your Ambev ADSs for the respective Ambev common shares underlying those ADSs, you risk losing some Brazilian tax and foreign currency remittance advantages.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Ambev ADSs benefit from the foreign capital registration that The Bank of New York Mellon, as depositary of Ambev&#8217;s ADS program, or the Depositary, has in Brazil, which permits it to convert dividends and other distributions with respect to the Ambev common shares underlying the Ambev ADSs into foreign currency and remit the proceeds of such conversion abroad.&nbsp; If you exchange your Ambev ADSs for the respective Ambev common shares underlying those ADSs, you will be entitled to rely on the Depositary&#8217;s foreign capital registration for only five business days from the date of such exchange.&nbsp; After this five business day period, you will not be able to remit abroad non-Brazilian currency unless you obtain your own foreign capital registration.&nbsp; In addition, gains with respect to Ambev common shares will be subject to a less favorable tax treatment unless you obtain your own certificate of foreign capital registration or register your investment in the Ambev common shares with the Central Bank pursuant to Resolution No. 4,373.&nbsp; For a more complete description of Brazilian restrictions on foreign investments and Brazilian foreign investment regulations, see &#8220;Item 10. Additional Information&#8212;B. Memorandum and Articles of Association&#8212;Restrictions on Foreign Investment&#8221; and &#8220;&#8212;A. Selected Financial Data&#8212;Exchange </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Rate Information&#8212;Exchange Controls.&#8221;&nbsp; For a more complete description of Brazilian tax regulations, including any potential risks regarding the possibility that the sale or disposition of ADSs by a Non-Brazilian Holder may be subject to capital gains tax in Brazil, see &#8220;Item 10. Additional Information&#8212;E. Taxation&#8212;Brazilian Tax Considerations.&#8221; </FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">As a Brazilian company, Ambev is subject to different corporate laws and regulations than those typically applicable to U.S.-listed companies, which may result in Ambev&#8217;s shareholders having fewer or less well-defined shareholder rights than the shareholder rights of those companies.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Ambev&#8217;s corporate affairs are governed by its bylaws and the Brazilian Corporation Law, which may differ from the legal principles that would apply to Ambev if the company were incorporated in a jurisdiction in the United States, such as Delaware or New York, or in other jurisdictions outside of Brazil.&nbsp; In addition, shareholder rights under the Brazilian Corporation Law to protect them from actions taken by the board of directors or controlling shareholders may be fewer and less well-defined than under the laws of jurisdictions outside of Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Although insider trading and price manipulation are restricted under applicable Brazilian capital markets regulations and treated as crimes under Brazilian law, the Brazilian securities markets may not be as highly regulated and supervised as the securities markets of the United States or other jurisdictions outside Brazil.&nbsp; In addition, rules and policies against self-dealing and for the preservation of shareholder interests may be less well-defined and enforced in Brazil than in the United States or other jurisdictions outside Brazil, potentially causing disadvantages to a holder of Ambev ADSs as compared to a holder of shares in a U.S. public company.&nbsp; Further, corporate disclosures may be less complete or informative than required of public companies in the United States or other jurisdictions outside Brazil.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Certain shareholder entitlements may not be available in the U.S. to holders of Ambev ADSs.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Due to certain United States laws and regulations, U.S. holders of Ambev ADSs may not be entitled to all of the rights possessed by holders of Ambev common shares.&nbsp; For instance, U.S. holders of Ambev ADSs may not be able to exercise preemptive, subscription or other rights in respect of the Ambev common shares underlying their Ambev ADSs, unless a registration statement under the Securities Act is effective with respect to those rights or an exemption from the registration requirements thereunder is available.&nbsp; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Holders of Ambev ADSs may be unable to fully exercise voting rights with respect to the Ambev shares underlying their ADSs.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under Brazilian law, only shareholders registered as such in the corporate books of Brazilian companies may attend shareholders&#8217; meetings.&nbsp; Because all the Ambev common shares underlying the Ambev ADSs are registered in the name of the Depositary (and not the ADS holder), only the Depositary (and not the ADS holder) is entitled to attend Ambev&#8217;s shareholders&#8217; meetings.&nbsp; A holder of Ambev ADSs is entitled to instruct the Depositary as to how to vote the respective Ambev common shares underlying their ADSs only pursuant to the procedures set forth in the deposit agreement for Ambev&#8217;s ADS program.&nbsp; Accordingly, holders of Ambev ADSs will not be allowed to vote the corresponding Ambev common shares underlying their ADSs directly at an Ambev shareholders&#8217; meeting (or to appoint a proxy other than the Depositary to do so), unless they surrender their Ambev ADSs for cancellation in exchange for the respective Ambev shares underlying their ADSs.&nbsp; We cannot ensure that such ADS cancellation and exchange process will be completed in time to allow Ambev ADS holders to attend a shareholders&#8217; meeting of Ambev.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Further, the Depositary has no obligation to notify Ambev ADS holders of an upcoming vote or to distribute voting cards and related materials to those holders, unless Ambev specifically instructs the Depositary to do so.&nbsp; If Ambev provides such instruction to the Depositary, it will then notify Ambev&#8217;s ADS holders of the upcoming vote and arrange for the delivery of voting cards to those holders.&nbsp; We cannot ensure that Ambev&#8217;s ADS holders will receive proxy cards in time to allow them to instruct the Depositary as to how to vote the Ambev common shares underlying their Ambev ADSs.&nbsp; In addition, the Depositary and its agents are not responsible for a failure to carry out voting instructions or for an untimely solicitation of those instructions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As a result of the factors discussed above, holders of Ambev ADSs may be unable to fully exercise their voting rights.</FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Future equity issuances may dilute the holdings of current holders of Ambev common shares or ADSs and could materially affect the market price for those securities.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We may in the future decide to offer additional equity to raise capital or for other purposes.&nbsp; Any such future equity offering could reduce the proportionate ownership and voting interests of holders of our common shares and ADSs, as well as our earnings and net equity value per common share or ADS.&nbsp; Any offering of shares and ADSs by us or our main shareholders, or a perception that any such offering is imminent, could have an adverse effect on the market price of these securities.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Our status as a foreign private issuer allows us to follow Brazilian corporate governance practices and exempts us from a number of rules under the U.S. securities laws and listing standards, which may limit the amount of public disclosures available to investors and the shareholder protections afforded to them. </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal" color=windowtext face="Times New Roman">&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are a foreign private issuer, as defined by the Securities and Exchange Commission, or the SEC, for purposes of the Exchange Act.&nbsp; As a result, we are exempt from many of the corporate governance requirements of stock exchanges located in the United States, as well as from rules under the Exchange Act that impose certain disclosure obligations and procedural requirements for proxy solicitations under Section 14 of the Exchange Act.&nbsp; For example, our officers, directors and principal shareholders are exempt from the reporting and &#8220;short-swing&#8221; profit recovery provisions under Section 16 of the Exchange Act.&nbsp; Moreover, we are not required to file periodic reports and financial statements with the SEC as frequently or as promptly as U.S. companies whose securities are registered under the Exchange Act.&nbsp; Accordingly, there may be less publicly available information concerning us than there is for U.S. public companies.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition, for so long as we remain as a foreign private issuer, we will be exempt from most of the corporate governance requirements of stock exchanges located in the United States.&nbsp; Accordingly, you will not be provided with some of the benefits or have the same protections afforded to shareholders of U.S. public companies.&nbsp; The corporate governance standards applicable to us are considerably different than the standards applied to U.S. domestic issuers.&nbsp; For example, although Rule 10A-3 under the Exchange Act generally requires that a company listed in the United States have an audit committee of its board of directors composed solely of independent directors, as a foreign private issuer we are relying on an exemption from this requirement under Rule 10A-3(c)(3) of the Sarbanes-Oxley Act of 2002 that is available to us as a result of features of the Brazilian Corporation Law applicable to our Fiscal Council.&nbsp; In addition, we are not required under the Brazilian Corporation Law to, among other things: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">have a majority of our Board of Directors be independent (though our bylaws provide that two of our directors must be independent and, in certain circumstances pursuant to the Brazilian Corporation Law, our minority shareholders may be able to elect members to our Board of Directors);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">have a compensation committee, a nominating committee, or corporate governance committee of the Board of Directors (though we currently have a non-permanent Operations, Finance and Compensation Committee that is responsible for evaluating our compensation policies applicable to management);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">have regularly scheduled executive sessions with only non-management directors (though none of our current directors hold management positions in us); or</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">have at least one executive session of solely independent directors each year.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For further information on the main differences in corporate governance standards in the United States and Brazil, see &#8220;Item 6. Directors, Senior Management and Employees&#8212;C. Board Practices&#8212;Differences Between United States and Brazilian Corporate Governance Practices.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Foreign holders of our ADSs may face difficulties in serving process on or enforcing judgments against us and other persons.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are organized under the laws of Brazil and most of our directors and executive officers, as well as our independent registered public accounting firm, reside or are based in Brazil.&nbsp; In addition, substantially all of our assets and those of these other persons are located in Brazil.&nbsp; As a result, it may not be possible for foreign holders </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">of our ADSs to expediently effect service of process upon us or those persons within the United States or other jurisdictions outside Brazil or to efficiently enforce against us or them judgments obtained in the United States or other jurisdictions outside Brazil.&nbsp; Because judgments of U.S. courts for civil liabilities based upon the U.S. federal securities laws may only be enforced in Brazil if certain formal and procedural conditions are met (including non-violation of Brazilian national sovereignty, public policy and &#8220;good morals&#8221;), holders of our ADSs may face greater difficulties in protecting their interests in the context of legal, corporate or other disputes between them and us, our directors and/or our executive officers than would shareholders of a U.S. corporation.&nbsp; In addition, a plaintiff (whether or not Brazilian) residing outside Brazil during the course of litigation in Brazil must provide a bond to guarantee court costs and legal fees if the plaintiff owns no real property in Brazil that could secure such payment.&nbsp; The bond must have a value sufficient to satisfy the payment of court fees and defendant&#8217;s attorney fees, as determined by a Brazilian judge.&nbsp; This requirement does not apply to (i) the enforcement of debt instruments or awards, including foreign judgments that have been duly recognized by the Brazilian Superior Court of Justice (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Superior Tribunal de Justi&#231;a</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">); (ii) counterclaims; and (iii) circumstances where the plaintiff or other intervening parties (regardless of citizenship) resides in a country that is a party to a treaty in force in Brazil that establishes that no security, bond or deposit of any kind is required by reason only of their foreign nationality (e.g., the Hague Convention on International Access to Justice).&nbsp; Furthermore, Brazil does not have a treaty with the United States to facilitate or expedite the enforcement in Brazil of decisions issued by a state court in the United States, which shall necessarily be previously recognized by the Brazilian Superior Court of Justice in order to produce effects in Brazil. As to arbitral awards issued in the United States, it is important to note that Brazil has ratified the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards (Decree No. 4311/2002), and arbitral awards rendered outside of the Brazilian territory are enforceable if the requirements provided by such treaty are fulfilled, and the arbitral award is previously recognized by the Brazilian Superior Court of Justice. </FONT></P>

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<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7.5pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Judgments of Brazilian courts with respect to our shares will be payable only in reais.</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">If proceedings are brought in the courts of Brazil seeking to enforce our obligations in respect of our common shares, we will not be required to discharge any such obligations in a currency other than </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; Under Brazilian exchange control limitations, an obligation in Brazil to pay amounts denominated in a currency other than </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> may only be satisfied in Brazilian currency at the exchange rate, as determined by the Central Bank, in effect on the date of the effective payment.&nbsp; The then prevailing exchange rate may not afford non-Brazilian investors with full compensation for any claim arising out of, or related to, our obligations under our common shares.&nbsp; </FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INFORMATION ON THE COMPANY</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Ambev&#8217;s principal executive offices are located at Rua Dr. Renato Paes de Barros, 1017, 3rd floor, 04530</FONT><FONT lang=ZH-CN style="FONT-SIZE: 10pt" face="ms mincho">&#8209;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">001, S&#227;o Paulo, SP, Brazil, and its telephone number and email are: +55 (11) 2122-1414 and ir@ambev.com.br.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; History and Development of the Company</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Overview</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are the successor of Brahma and Antarctica, two of the oldest brewers in Brazil.&nbsp; Antarctica was founded in 1885.&nbsp; Brahma was founded in 1888 as Villiger &amp; Cia.&nbsp; The </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brahma</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> brand was registered on September 6, 1888, and in 1904 Villiger &amp; Cia. changed its name to Companhia Cervejaria Brahma.&nbsp; However, the legal entity that has become Ambev S.A., the current NYSE- and B3-listed company, was incorporated on July 8, 2005 as a non-reporting Brazilian corporation under the Brazilian Corporation Law and is the successor of Old Ambev.&nbsp; Until the stock swap merger of Old Ambev with Ambev S.A. approved in July 2013 (see &#8220;&#8212;Stock Swap Merger of Old Ambev with Ambev S.A.&#8221;), Ambev S.A. did not conduct any operating activities and had served as a vehicle for ABI to hold a 0.5% interest in Old Ambev&#8217;s capital stock.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In the mid-1990s, Brahma started its international expansion into Latin America, and since then we have been buying assets in different parts of the continent including the South America, Central America and the Caribbean.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In the late 1990s, Brahma obtained the exclusive rights to produce, sell and distribute Pepsi CSD products throughout Brazil, and since then we have been distributing these products throughout that country. &nbsp;In addition, certain of our subsidiaries have franchise agreements for Pepsi products in Argentina, Bolivia, Uruguay and the Dominican Republic.&nbsp; See &#8220;Item 4. Information on the Company&#8212;B. Business Overview&#8212;Licenses&#8212;Pepsi.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In the early 2000s, we acquired a 40.5% economic interest in Quinsa and the joint control of that entity, which we shared temporarily with Beverages Associates (BAC) Corp., or BAC, the former sole controlling shareholder of Quinsa.&nbsp; This transaction provided us with a leading presence in the beer markets of Argentina, Bolivia, Paraguay and Uruguay, and also set forth the terms for our future acquisition of Quinsa&#8217;s full control from BAC.&nbsp; In April 2006, we increased our equity interest in Quinsa to 91% of its total share capital, after which we started to fully consolidate Quinsa upon the closing of that transaction in August 2006. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In August 2004, we and a Belgian brewer called Interbrew S.A./N.V. (as ABI was then called) completed a business combination that involved the merger of an indirect holding company of Labatt Brewing Company Limited, or Labatt, one of the leading brewers in Canada, into us.&nbsp; At the same time, our controlling shareholders completed the contribution of all shares of an indirect holding company which owned a controlling stake in us to Interbrew S.A./N.V. in exchange for newly issued shares of Interbrew S.A./N.V.&nbsp; After this transaction, Interbrew S.A./N.V. changed its company name to InBev S.A./N.V. (and, since 2008, to Anheuser-Busch InBev SA/NV) and became our majority shareholder through subsidiaries and holding companies. (see &#8220;&#8212;The InBev-Ambev Transactions&#8221;).</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">The InBev-Ambev Transactions</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The &#8220;InBev-Ambev transactions&#8221; consisted of two transactions negotiated simultaneously: (1) in the first transaction, BRC exchanged its Old Ambev shares for shares in Interbrew N.V./S.A. (as ABI was then called); and (2) in the second transaction, Old Ambev issued new shares to Interbrew N.V./S.A. in exchange for Interbrew&#8217;s 100% stake in Labatt. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Exchange of Shares Between BRC and the Interbrew Founding Families</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In March 2004, various entities controlled by BRC entered into a contribution and subscription agreement with Interbrew N.V./S.A. (as ABI was then called) and various entities representing the interests of the Interbrew Founding Families to exchange their controlling interest in Old Ambev for newly issued voting shares of Interbrew N.V./S.A., which represented 24.7% of Interbrew N.V./S.A.&#8217;s voting shares.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Upon closing of this transaction in August 2004, (1) BRC received approximately 44% of the voting interest in Stichting, which thereupon owned approximately 56% of Interbrew N.V./S.A.&#8217;s common shares, and (2) Interbrew N.V./S.A. received approximately a 53% voting interest and a 22% economic interest in Old Ambev.&nbsp; Such voting interest was subject to our shareholders&#8217; agreement at the time, as amended in connection with the InBev-Ambev transactions.&nbsp; In addition, Interbrew N.V./S.A. changed its legal name to InBev N.V./S.A. (and, since its acquisition of Anheuser-Busch, Inc. in the U.S. in 2008, to Anheuser Busch-InBev N.V./S.A.).</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Acquisition of Labatt</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pursuant to the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">incorpora&#231;&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> agreement dated March 3, 2004, Labatt Brewing Canada Holding Ltd., or Mergeco, was merged into Old Ambev by means of an upstream merger (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">incorpora&#231;&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">) under the Brazilian Corporation Law, or the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Incorpora&#231;&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; Mergeco held 99.9% of the capital stock of Labatt Holding ApS, or Labatt ApS, a corporation organized under the laws of Denmark, and Labatt ApS owned all the capital stock of Labatt.&nbsp; Upon completion of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Incorpora&#231;&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, Old Ambev held 99.9% of the capital stock of Labatt ApS, and, indirectly, of Labatt.&nbsp; As consideration for the acquisition of Labatt, Old Ambev issued common and preferred shares to Interbrew N.V./S.A. (as ABI was then called).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">With the consummation of this transaction in August 2004, (1) Labatt became a wholly-owned subsidiary of Old Ambev, and (2) Interbrew N.V./S.A. (as ABI was then called) increased its stake in Old Ambev to approximately 68% of common shares and 34% of preferred shares.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Ownership Structure of InBev N.V./S.A. and Old Ambev Upon Consummation of the InBev-Ambev Transactions</FONT></I></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">InBev N.V./S.A.</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Upon closing the InBev-Ambev transactions, 56% of InBev N.V./S.A.&#8217;s voting shares were owned by Stichting, 1% was jointly owned by Fonds Voorzitter Verhelst SPRL and Fonds InBev-Baillet Latour SPRL, 17% were owned directly by entities and individuals associated with the Interbrew Founding Families and the remaining 26% constituted the public float.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">BRC became the holder of 44% of Stichting&#8217;s voting interests, while the Interbrew Founding Families held the remaining 56% of Stichting&#8217;s voting interests.&nbsp; In addition, BRC and entities representing the interests of the Interbrew Founding Families entered into a shareholders&#8217; agreement, providing for, among other things, joint and equal influence over the exercise of the Stichting voting rights in InBev N.V./S.A. (as ABI was then called).</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Old Ambev</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Upon closing of the InBev-Ambev transactions, InBev N.V./S.A. (as ABI was then called) became the owner of approximately 68% of Old Ambev&#8217;s voting shares, FAHZ retained approximately 16% of such shares, and the remaining shares were held by the public.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Mandatory Tender Offer</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pursuant to the Brazilian Corporation Law, InBev N.V./S.A. (as ABI was then called) was required to conduct, following the consummation of the InBev-Ambev transactions, a mandatory tender offer, or the MTO, for all remaining outstanding common shares of Old Ambev.&nbsp; The MTO was completed in March 2005, and InBev N.V./S.A. (as ABI was then called) increased its stake in Old Ambev to approximately an 81% voting interest and a 56% economic interest in that company.&nbsp; FAHZ did not tender its Old Ambev shares in the MTO.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Stock Swap Merger of Old Ambev with Ambev S.A.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">On July 30, 2013, the minority shareholders of Old Ambev approved a stock swap merger of Old Ambev with us, according to which each and every issued and outstanding common and preferred share of Old Ambev not held by Ambev S.A. (including in the form of ADSs) was exchanged for five newly issued common shares of Ambev S.A. (including in the form of ADSs).&nbsp; As a result of the stock swap merger, Old Ambev became a wholly-owned subsidiary of Ambev S.A., which continued the same operations of Old Ambev.&nbsp; The ratio adopted for the stock swap merger did not result in any ownership dilution in the equity interest held in us by our minority </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">shareholders, including our former non-voting preferred shareholders, who were granted a separate class vote on the transaction without the interference of our controlling shareholder.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The stock swap merger combined our former dual-class capital structure, comprised of voting common shares and non-voting preferred shares, into a new, single-class capital structure, comprised exclusively of voting common shares.&nbsp; The purpose of this transaction was to simplify our corporate structure and improve our corporate governance, with a view to increasing liquidity for all shareholders, eliminating certain administrative, financial and other costs and providing more flexibility for the management of our capital structure.&nbsp; As a result of the stock swap merger, all shareholders of Old Ambev, including former holders of that company&#8217;s non-voting preferred shares, gained access to the same rights and privileges enjoyed by Old Ambev&#8217;s common shareholders, including full voting rights and the right to be included in a change-of-control tender offer under the Brazilian Corporation Law that ensures that holders of common stock are offered 80% of the price per share paid to a selling controlling shareholder in a change-of-control transaction. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Upstream Merger of Old Ambev with and into Ambev S.A.</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In January 2014, and as a subsequent step of the stock swap merger, an upstream merger of Old Ambev and one of its majority-owned subsidiaries with and into Ambev S.A. was consummated.&nbsp; This upstream merger had no impact on the shareholdings that our shareholders held in us.&nbsp; As a result of this upstream merger, our corporate structure was simplified.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Recent Acquisitions, Divestments and Strategic Alliances</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In January 2014, one of our wholly-owned subsidiaries acquired a controlling interest of 50% in Bucanero S.A. from ABI, a Cuban company in the business of producing and selling beer.&nbsp; The other 50% equity interest in Bucanero is owned by the Government of Cuba. We have the right to appoint the general manager of Bucanero. Its main brands are Bucanero and Cristal.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In March 2015, one of our subsidiaries acquired W&#228;ls Brewery, a local craft brewer in the State of Minas Gerais.&nbsp; In 2014, W&#228;ls was awarded the best dubbel for its brand &#8216;W&#228;ls Dubbel&#8217; in the World Beer Cup.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Also in March 2015, Ambev and Whirlpool created B.Blend, a joint venture to develop and commercialize the first all-in-one capsule-based beverage machine.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In July 2015, one of our subsidiaries acquired Beertech Bebidas e Comest&#237;veis Ltda., also known as Colorado, a traditional craft brewer from the city of Ribeir&#227;o Preto, in the State of S&#227;o Paulo, that uses local ingredients in its productions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In October 2015, Labatt purchased the Mill Street Brewery, a craft brewer based in Toronto, with a portfolio of 70 unique and innovative beers. Founded in 2002, Mill Street is an award winning craft brewery and the largest producer of certified organic beer in Canada, with key brands such as </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mill Street Original Organic Lager</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100th Meridian Amber Lager</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Tankhouse Ale</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cobblestone Stout</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">. Mill Street also operates popular brewpubs in Toronto and Ottawa.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In December 2015, one of our subsidiaries acquired the majority of the shares of Banks Holdings Company, or BHL, a publicly-traded company in the Barbados Stock Exchange focused on the production and distribution of beers and non-alcoholic beverages.&nbsp; BHL produces and sells the leading beers in Barbados, including </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Banks</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Deputy</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, and also soft drinks, juices and dairy products.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In January 2016, our subsidiary in Canada acquired a range of ready-to-drink, cider and craft beer brands for the Canadian market from the Mark Anthony Group of Companies. These brand additions include recognized and innovative brands such as </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Palm Bay</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mike&#8217;s Hard Lemonade</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Okanagan Cider</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, leveraging our near-beer platform by expanding our portfolio into the fast growing ready to drink and cider segments in Canada. The deal also included the Turning Point Brewery in British Columbia, which brews the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Stanley Park</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> family of brands.&nbsp;&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In April 2016, one of our subsidiaries in Canada acquired Archibald Microbrasserie, known for its local beers and seasonal specialties. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Also in April 2016, one of our subsidiaries acquired the Brazilian juice company &#8220;Do Bem&#8221;, which sells a variety of juices, teas and cereal bars.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In May 2016, we entered into an agreement with ABI, pursuant to which we agreed to transfer to ABI our businesses in Colombia, Peru and Ecuador, in exchange for which ABI has agreed to transfer ABI SAB Group Holding Limited&#8217;s (formerly SABMiller Limited and prior to that SABMiller plc), or SAB, Panamanian business to us. While ABI is our indirect controlling shareholder, the transaction was conducted at arms&#8217; length on standard market terms, including having received a fairness opinion from Rothschild &amp; Sons (Brazil).&nbsp; Other than post-closing debt and/or cash adjustments, the transaction did not involve any cash payments and involved an exchange of shares of the aforementioned entities. The transaction was conditioned on the successful closing of the SAB and ABI merger, which closed in the fourth quarter of 2016. As a result of this transaction, on December 31, 2016, we ceased operations in Colombia, Peru and Ecuador and commenced operations in the beverages market of Panama. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In December 2016, we acquired Cachoeiras de Macacu Bebidas Ltda. from Brasil Kirin Industria de Bebidas Ltda., a company that owns an operating industrial plant for the production and packaging of beer and non-alcoholic beverages in the State of Rio de Janeiro.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In September 2017, we entered into an agreement with ABI, pursuant to which our subsidiary Cervecer&#237;a y Malter&#237;a Quilmes S.A., or Quilmes, agreed to transfer to a third-party, Compa&#241;ia Cervecer&#237;as Unidas S.A. or its affiliates, or CCU, certain Argentinean brands (Norte, Iguana and Baltica) and related business assets as well as payment of US$50 million. In exchange, ABI has agreed to transfer to Quilmes the brewery of Cerveceria Argentina Sociedad Anonima Isenbeck, an Argentinean subsidiary of ABI. In addition, at closing ABI will license to Quilmes in perpetuity the Budweiser brand, among other North American brands, in Argentina upon ABI&#8217;s recovery of the distribution rights to such brands from CCU. The closing of the transaction is subject to the analysis and validation by the Argentinean antitrust authority (Comisi&#243;n Nacional de Defensa de la Competencia) of the main documents that will be executed at the closing and other customary closing conditions. Rothschild acted as our exclusive financial advisor.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In December 2017, E. Le&#243;n Jimenes, S.A., or ELJ, the other shareholder together with us in Tenedora CND, S.A., or Tenedora &#8211; a holding company incorporated in the Dominican Republic, owner of almost the totality of Cervecer&#237;a Nacional Dominicana, S.A. &#8211; partially exercised, in accordance with the shareholders&#8217; agreement of Tenedora, its put option in connection with shares representing 30% of Tenedora&#8217;s capital stock. &nbsp;The transaction was subject to certain conditions precedent and closed on January 18, 2018.&nbsp; As a result of the partial exercise of such put option, at closing we paid to ELJ the amount of US$926.5 million and became the owner of approximately 85% of Tenedora, with ELJ remaining with 15%. In addition, in light of the strategic importance of the alliance with ELJ, our Board of Directors approved amending from 2019 to 2022 the term for the call option granted by ELJ to us to become exercisable.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For further information on these and other acquisitions, divestments and strategic alliances, please see notes 1 to our audited financial statements as of and for the year ended December 31, 2017.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Business Overview</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Description of Our Operations</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are the largest brewer in Latin America in terms of sales volumes and one of the largest beer producers in the world, according to our estimates.&nbsp; We currently produce, distribute and sell beer, CSDs and other non-alcoholic and non-carbonated products in 18 countries across the Americas. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We conduct our operations through three business segments, as follows: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Latin America North</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">, which includes our operations in Brazil, where we operate two divisions (the beer sales division and the NAB sales division), and our Central America and the Caribbean, or CAC, operations, which in the past we referred to as &#8220;HILA-Ex&#8221; operations, that currently includes our operations in the Dominican Republic, Saint Vincent, Antigua, Dominica, Cuba, Guatemala (which also serves El Salvador, Honduras and Nicaragua) Barbados and Panama; </FONT></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">28</FONT></P></DIV>

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   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_38"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Latin America South</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">, or LAS, which includes our operations in Argentina, Bolivia, Paraguay, Uruguay, Chile; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Canada</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">, represented by Labatt&#8217;s operations, which includes domestic sales in Canada and some exports to the U.S. market.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following map illustrates our three business segments as of December 31, 2017: </FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 10pt 0cm 0cm">
<IMG border=0 src="img01.gif"></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">An analysis of our consolidated net sales by business segment is presented in the table below:</FONT></P>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="72%" colSpan=6>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Net Sales (</FONT></B><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">in R$ million</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">)<BR>Year Ended December&nbsp;31,</FONT></B></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="24%" colSpan=2>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="24%" colSpan=2>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="24%" colSpan=2>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2015</FONT></B></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Sales</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Sales</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Sales</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">31,086.0</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">64.9%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">28,927.8</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.4%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">29,654.9</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.5%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">26,353.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">55.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">24,954.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">54.7%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">26,326.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">56.4%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 27pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22,509.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">47.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21,173.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">46.4%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22,441.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">48.1%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 27pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NAB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,843.7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,781.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.3%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,884.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.3%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4,733.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9.9%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,973.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.7%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,328.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.1%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">10,769.7</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22.5%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">10,212.9</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22.4%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">11,255.6</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">24.1%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6,043.5</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">12.6%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6,461.9</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">14.2%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5,809.7</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">12.4%</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">47,899.3</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">45,602.6</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">46,720.2</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">An analysis of our sales volume by business segment is presented in the table below:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="72%" colSpan=6>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Sales Volumes (&#8216;</FONT></B><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">000 hl</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">)<BR>Year Ended December&nbsp;31,</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="24%" colSpan=2>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="24%" colSpan=2>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="24%" colSpan=2>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2015</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Volume</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Volume</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Volume</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">118,631.8</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">72.9%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">116,632.7</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">73.0%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">123,463.4</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">73.0%</FONT></B></P></TD></TR>

<TR style="HEIGHT: 12.6pt">

   <TD style="HEIGHT: 12.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></P></TD>

   <TD style="HEIGHT: 12.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">106,360.0</FONT></P></TD>

   <TD style="HEIGHT: 12.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">65.3%</FONT></P></TD>

   <TD style="HEIGHT: 12.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">106,961.4</FONT></P></TD>

   <TD style="HEIGHT: 12.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">66.9%</FONT></P></TD>

   <TD style="HEIGHT: 12.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">114,354.2</FONT></P></TD>

   <TD style="HEIGHT: 12.6pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">67.6%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 27pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">80,233.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">49.3%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">79,670.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">49.8%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">85,330.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">50.5%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 27pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NAB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">26,126.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">16.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">27,291.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">17.1%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">29,023.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">17.2%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">12,271.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9,671.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.1%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9,109.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.4%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">34,062.0</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">20.9%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">32,934.5</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">20.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">35,914.5</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.2%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">10,135.7</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.2%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">10,254.5</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.4%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9,700.3</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.7%</FONT></B></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">162,829.4</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">159,821.6</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">169,078.2</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD></TR></TABLE></DIV>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">29</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Business Strategy</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We aim to continuously create value for our stockholders.&nbsp; The main components of our strategy are:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">our people and culture;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">our growth platforms;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">building strong brands;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">excellence in route to market;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">quality of our products;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">permanent cost efficiency; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">financial discipline.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Our People and Culture</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We believe highly qualified, motivated and committed employees are critical to our long-term success.&nbsp; We carefully manage our hiring and training process with a view to recruiting and retaining outstanding professionals.&nbsp; In addition, we believe that through our compensation program, which is based both on variable pay and stock ownership, we have created financial incentives for high performance and results.&nbsp; Another core element of our culture is our distinguished managerial capability, which is characterized by (1) a hardworking ethos, (2) results-focused evaluations, (3) the encouragement of our executives to act as owners and not only as managers, (4) leadership by personal example, and (5) appreciation of field experience.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Growth Platforms</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are constantly seeking sustainable long term growth.&nbsp; For instance, in Brazil we have focused our efforts behind our main growth platforms, as follows: </FONT></P>

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   <P style="MARGIN-TOP: 10px"><EM><FONT size=2>Elevate the core</FONT></EM><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">: we believe that building strong brands that create enduring bonds with our consumers is a fundamental prerequisite to assure the sustainability of our business in the future.&nbsp; By connecting with our consumers through relevant marketing platforms and breakthrough experiences, we are able to drive a superior top line performance by balancing volume and price/mix growth in a sustainable way;</FONT></P></TD></TR>

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   <P style="MARGIN-TOP: 10px"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=symbol>&#183;</FONT></P></TD>

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   <P style="MARGIN-TOP: 10px"><EM><FONT size=2>Accelerate Premium</FONT></EM><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">: premium volumes have been growing above mainstream in Brazil and there is a significant opportunity to accelerate this growth and to increase even further the weight of premium volumes within beer.&nbsp; At Ambev, we are working towards leading this growth through our wide-ranging portfolio of domestic and global premium brands and by improving our route to market execution;</FONT></P></TD></TR>

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   <P style="MARGIN-TOP: 10px"><EM><FONT size=2>At Home</FONT></EM><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">: by better understanding consumption habits in our consumers&#8217; own homes, we are able to capture significant volume opportunities through new liquids, new packaging or even new selling models, such as Emporiodacerveja.com.br, the biggest beer ecommerce in Brazil.&nbsp; There is also significant room to enhance the beer category execution in different retail formats and regions in Brazil, including the opportunity to increase the penetration of returnable glass bottles in the off-trade channel, driving affordability in a profitable way; and</FONT></P></TD></TR>

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   <P style="MARGIN-TOP: 10px"><EM><FONT size=2>Out of Home</FONT></EM><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">: having a beer at a </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">boteco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">, a traditional type of bar in Brazil, continues to be a strong part of Brazilian culture and part of Brazilian consumers&#8217; day-to-day lives.&nbsp; We deliver our brands to <FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">almost one million points of sale in Brazil, mainly </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">botecos</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">, through our unique distribution system, always looking for ways to improve our execution and better serve our clients.&nbsp; Along with that, we are constantly seeking ways to perfect the &#8220;out-of-home&#8221; experience to consumers, through different initiatives such as with, among others: Curtisom, our micro events platform, based on itinerant music stages developed for one night concerts at different bars every night; expansion of one liter returnable glass bottles, driving affordability to consumers; and the improvement of the point of sales, including the distribution of new coolers and trade materials;</FONT></FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT style="FONT-SIZE: 10pt" face="Times New Roman">30</FONT></FONT></FONT></P>

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   <P style="MARGIN-TOP: 10px"><EM><FONT size=2>Excellence in Client Services</FONT></EM><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">: as a service-oriented company, we acknowledge that enhancing our relationship with our clients is an important lever to drive sustainable growth and, thus, a consistent evolution of our route to market and of our service level is at the core of our priorities.</FONT></P></TD></TR>

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   <P style="MARGIN-TOP: 10px"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face="times new roman">&nbsp;</FONT></P></TD>

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   <P style="MARGIN-TOP: 10px"><EM><FONT size=2>Better World</FONT></EM><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">: We dream of bringing people together for a better world. A dream that begins at the moments of celebration involving our beverages and is translated into five fronts where we believe we can contribute and make a greater impact: water, renewables &amp; carbon, agriculture, circular packaging and smart drinking. To achieve our targets, we expanded our partnerships and involved our people. We engaged suppliers, customers and consumers to generate and share value. For instance, in the beginning of 2017, we launched AMA, a mineral water from which 100% of the profit goes to projects for access to potable water in the semi-arid region of Brazil, which has already benefited more than 6,000 people in one year. We also acted in road safety projects in partnership with the State of S&#227;o Paulo and the Federal District government to develop a traffic accident information management system with digital reports that provide precise data on traffic accidents and information on the victims affected in the state on a monthly basis. We believe this allows the relevant authorities to make better informed decisions, such as repositioning police road checks, ordering the paving of specific stretches of roads and developing accident reduction plans. &nbsp;We estimate that we have saved more than approximately 550 lives in both road safety projects. </FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman"></FONT></FONT>&nbsp;</P><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Quality of our Products</FONT></I></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We brew a wide variety of beers, including ales, lagers, clear, dark and full-bodied beers, amongst others, offering consumers a unique portfolio of high quality beers designed to satisfy different needs and tastes across different occasions.&nbsp; We also produce a number of non-alcoholic products, such as soft drinks, energy drinks and juices. The quality of our products is at the forefront of our priorities. We have strict processes, with more than 1,300 controls and more than 370 tests across our production lines, as we aim to provide to our consumers products matching the highest possible standards.&nbsp; Our R&amp;D team is also constantly working to enhance our production process and the quality of our products. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Permanent Cost Efficiency</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost control is one of the top priorities of our employees.&nbsp; Each of our departments must comply with its respective annual budget for fixed and variable costs.&nbsp; As a means of avoiding unnecessary expenses, we have designed a management control system inspired on &#8220;zero-base budgeting&#8221; concepts that requires every manager to build from scratch an annual budget for his/her respective department.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Financial Discipline</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our focus is not only on volumes and operating performance, but also on the disciplined management of our working capital and our cash flow generation.&nbsp; Our objective is to maximize the return to our shareholders through a combination of payments of dividends and interest on shareholders&#8217; equity, while at the same time keeping our investment plans and holding an adequate level of liquidity to accommodate the seasonality of our business and cope with often volatile and uncertain financial market conditions.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Seasonality</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales of beverages in our markets are seasonal.&nbsp; Generally, sales are stronger during the summer and major holidays.&nbsp; Therefore, in the Southern Hemisphere (Latin America North and Latin America South) volumes are usually stronger in the fourth calendar quarter due to early summer and year-end festivities.&nbsp; In Canada, volumes are </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">stronger in the second and third calendar quarters due to the summer season.&nbsp; This is demonstrated by the table below, which shows our volumes by quarter and business segment:</FONT></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">31</FONT></P>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="48%" colSpan=4>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2017 Quarterly Volumes<BR>(</FONT></B><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">as a percentage of annual volumes</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">)</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1st&nbsp;Quarter</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2nd&nbsp;Quarter</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3rd&nbsp;Quarter</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4th&nbsp;Quarter</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">25.5%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.9%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">23.4%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">29.2%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">25.9%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.6%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">23.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">29.4%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 27pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">25.6%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.7%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">23.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">29.6%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 27pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NAB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">26.6%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">23.7%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">28.5%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22.8%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">24.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">25.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">27.9%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">26.7%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">19.8%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22.9%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">30.6%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">19.0%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">29.5%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">28.3%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">23.2%</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">25.4%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.9%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">23.6%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2pt double; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">29.1%</FONT></B></P></DIV></TD></TR></TABLE></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Description of the Markets Where We Operate</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Latin America North</FONT></I></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Brazilian Beer Market</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In Brazil, beer is predominantly sold in bars for on-premise consumption, in standardized, returnable 600-milliliter glass bottles.&nbsp; The second favored packaging presentation is the 350-milliliter one-way aluminum can, which is predominantly sold in supermarkets for off-premise consumption.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to our estimates, in 2017 we were the market leader of the Brazilian market in terms of beer sales volumes, mainly through our three major brands: </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Skol</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brahma</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Antarctica</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; Our closest competitors in Brazil are: Heineken, particularly following its May 2017 acquisition of Brasil Kirin operations, and Cervejaria Petr&#243;polis. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Distribution represents an important feature in this market, as the retail channel is fragmented into almost one million points of sale.&nbsp; Our distribution is structured under two separate branches, comprising (1) our network of exclusive third-party distributors, involving 148 operations, and (2) our proprietary direct distribution system, involving more than 107 distribution centers spanned over most Brazilian regions.&nbsp; We have been focusing on direct distribution in large urban regions, while strengthening our third-party distribution system.&nbsp; See &#8220;&#8212;Business Overview&#8212;Business Strategy.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Near-Beer</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Some of our recent innovations have stretched beyond typical beer consumption occasions, such as </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Skol Beats Senses</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Skol Beats Spirit</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Skol Beats Secret</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, which are sweeter beverages with higher alcohol content, and Brahma 0.0%, a non-alcoholic beer. These innovations are designed to grow the near-beer category and improve our market share of beverage categories other than beer, by addressing changing consumer trends and preferences.&nbsp; In 2017, this segment consisting of Skol Beats Senses, Skol Beats Spirit and Skol Beats Secrets accounted for 0.7% of our total beer volume in Brazil, while, according to our estimates, Brahma 0.0% is the leader in the Brazilian non-alcoholic beer segment and represents another 1.0% &nbsp;of our total beer volumes in the country.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Brazilian NAB Markets</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The NAB markets in Brazil are comprised of many different segments, including CSD, bottled water, isotonic beverages, energy drinks, coconut water, powdered and natural juices and ready-to-drink teas.&nbsp; The CSD segment is the most significant to our business representing approximately 61% of the volumes of our NAB unit.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to our estimates, the leading CSD flavors in Brazil are (1) cola (with 52% of the market in 2017), (2) </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">guaran&#225;</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, (3) orange, and (4) lime. &nbsp;Most CSDs in Brazil are sold in supermarkets in two-liter non-</FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">returnable PET bottles for in-home consumption.&nbsp; The 350-milliliter one-way aluminum can is also an important packaging format for our business and is mainly sold in supermarkets and restaurants.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our main competitor in this market is The Coca-Cola Company.&nbsp; In addition to The Coca-Cola Company, we face competition from small regional bottlers that produce what are usually referred to as &#8220;B Brands.&#8221;&nbsp; The B Brands compete mainly on price, usually being sold at a significantly lower price than our products.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our main CSD brands are </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Guaran&#225; Antarctica</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, the leader in the &#8220;non-cola&#8221; flavor segment, and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pepsi Cola</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pepsi Cola</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> is sold under our exclusive production and bottling agreements with PepsiCo.&nbsp; Our NAB portfolio also includes such brands as </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Gatorade</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> in the isotonic market, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">H2OH!</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> in the flavored water market, and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Lipton Iced Tea</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> in the ready-to-drink tea market, which are also sold under license from PepsiCo, and Fusion, a proprietary brand that is today the third largest brand in the energy drinks segment in Brazil. Also in 2016, we acquired the Brazilian juice company &#8220;Do Bem,&#8221; which enjoys brand strength in health and wellness categories.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our NAB products are sold in Brazil through the same distribution system used for beer.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC (Central America and the Caribbean)</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Central America</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In Guatemala, the main packaging presentations are the returnable, 12 ounce and 1-liter glass bottles, and the 12 ounce and the 16 ounce cans.&nbsp; Our main competitor in Guatemala is Cerveceria Centro Americana, the market leader, which is a private company owned by local investors. According to our estimates, the total annual sales volume of the Guatemalan beer market was 3.8 million hectoliters in 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In El Salvador, Honduras and Nicaragua, we are currently selling imported brands, and our main packaging presentation is the returnable one-liter glass bottle.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Specifically in Nicaragua, our main competitor is Compa&#241;&#237;a Cervecera de Nicaragua, the market leader, which is a joint venture between Guatemala's Cerveceria Centro Americana and Florida Ice &amp; Farm Co, an investor group from Costa Rica</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In all of these markets, beer is predominantly sold in returnable bottles through small retailers.&nbsp; We sell our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brahva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brahva Gold</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Extra</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Budweiser</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Bud Light</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Stella Artois</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Corona</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Modelo Especial</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beck</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Leffe</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Hoegaarden</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> beer brands in Central America, which are distributed through the CBC distribution system, jointly with CBC&#8217;s CSD portfolio.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In May 2016, we entered into an agreement with ABI pursuant to which we agreed to transfer to ABI our businesses in Colombia, Peru and Ecuador. In exchange, ABI has agreed to transfer SAB's Panamanian business to us. We formally began operations in Panama on December 31, 2016. According to our estimates, we currently lead the beer market in Panama. The main packaging presentation are 285-milliliter bottles and 355-milliliter cans and our main beer brands in Panama are Atlas Golden Light and Balboa Ice. The main competitor in the Panamanian beer market is Baru. Our Panamanian business also produces and commercializes soft drinks, under franchise, being Pepsi, Canada Dry and Squirt the main brands distributed. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Caribbean Beer Market</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In Cuba, our main packaging presentation is the 12 ounce can.&nbsp; Our main competitor in Cuba is State Brewery.&nbsp; We currently sell the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Bucanero</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cristal</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mayabe</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cacique</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> local beer brands in Cuba. According to our estimates, the total annual sales volume of the Cuban beer market was approximately 2.8 million hectoliters in 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In the Dominican Republic, the annual sales volume of the beer market was 4.1 million hectoliters in 2017, according to our estimates.&nbsp; The main packaging presentation in the Dominican beer market consists of the returnable 650-milliliter and 1-liter glass bottles, which are predominantly sold in small retail stores.&nbsp; We currently lead the beer market in the Dominican Republic after our acquisition of CND, &nbsp;with leading portfolio brands such as </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Presidente</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brahma Light</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">President Light</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Bohemia</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The One</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Corona</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Stella Artois</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Budweiser</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; Our distribution system in the Dominican Republic is comprised mainly of direct distribution operations.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In Barbados, the annual sales volume of the beer market was 0.2 million hectoliters in 2017, according to our estimates. We are the market leader with brands such as Banks and Deputy, which are produced locally by BHL. The growth in the Barbados beer market in the past several years had been driven by imported and domestic value brands. The main packaging presentation in Barbados is the 250-milliliter and 275-milliliter returnable glass bottles.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Caribbean CSD Market</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to our estimates, the annual sales volume of the Dominican CSD market was 4.9 million hectoliters in 2017.&nbsp; The main packaging presentation in the Dominican CSD market is the returnable half-liter bottle, in either glass or PET format, which is predominantly sold in small retail stores.&nbsp; The Coca-Cola Company, represented by Bepensa, has the leadership of the Dominican CSD Market, followed by Ajegroup, which adopts a low price strategy.&nbsp; We are currently the third player in that market.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our main CSD brands in the Dominican Republic are </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Red Rock</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pepsi-Cola</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Seven Up</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, all of which are marketed under an exclusive bottling agreement with PepsiCo.&nbsp; Our distribution system in the Dominican Republic is comprised of direct distribution operations and third-party distributors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In Barbados, the annual sales volume of the CSD market was 0.2 million hectoliters in 2017, according to our estimates. Barbados Bottling Co. Ltd., a wholly owned subsidiary of BHL, is currently the market leader for CSD, according to our estimates. BHL produces and distributes Coke and its allied brands under franchise along with own proprietary brand Frutee, which is comprised of ten flavors. BHL, through other subsidiaries, also produces and commercializes juices and dairy products in Barbados.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Latin America South</FONT></I></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Argentina</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Argentina is one of our most important regions, second only to Brazil in terms of volume. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We serve more than 300 thousand points of sale throughout Argentina both directly and through our exclusive third-party distributors.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Argentine Beer Market</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to our estimates, the annual sales volume of the Argentine beer market was 18.6 million hectoliters in 2017.&nbsp; With a population of approximately 44 million, Argentina is Latin America South&#8217;s largest and most important beer market.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer consumption in Argentina has declined in recent years, but experienced an increase in 2017, reaching an annual per capita consumption of 42.4 liters, which represents a 4.8% growth compared to previous year.&nbsp; Since 2000, beer has become the number one selling alcoholic beverage in Argentina in terms of hectoliters sold, according to our estimates.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In Argentina, 33% of our beer volume is distributed directly by us and 67% is distributed through exclusive third-party distributors.&nbsp; Our main package presentation in Argentina is the 1-liter returnable glass bottles, which accounted for 81% of our sales in 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to our estimates, on-premise consumption represented 15% of beer volumes in Argentina in 2017, and supermarkets sales represented 13% of beer volumes.&nbsp; The main channels of volume consumption in Argentina are through kiosks and small grocery stores.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our most important beer brands in Argentina are </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Quilmes Cl&#225;sica</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brahma</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Stella Artois</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; According to Nielsen, we are the leading beer producers in Argentina, and our main competitor in Argentina is Compa&#241;&#237;a Cervecer&#237;as Unidas S.A.</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Argentine CSD Market</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to our estimates, in 2017, annual sales volume of the Argentine CSD market was 43.4 million hectoliters.&nbsp; In Argentina, 51% of our CSD volume is distributed directly by us and 49% is distributed through exclusive third-party distributors.&nbsp; Non-returnable bottles represented 90% of our CSD sales in Argentina in 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are the exclusive Pepsi bottlers in Argentina and our most important CSD brand in that country is </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pepsi</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; According to Nielsen, we were second in the Argentine CSD market in 2017, only after The Coca-Cola Company.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Bolivia</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Bolivian Beer Market</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to our estimates, the annual sales volume of the Bolivian beer market was 3.3 million hectoliters in 2017.&nbsp; The Bolivian market is strongly influenced by macroeconomic trends and governmental regulatory and fiscal policies.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In Bolivia, 3% of our beer volumes is directly distributed by us and 97% is distributed through exclusive third-party distributors.&nbsp; Our main package presentation in Bolivia is the 620-milliliter returnable glass bottle, which accounted for 48% of our sales in 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our most important beer brands in Bolivia are </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pace&#241;a</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Taqui&#241;a</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Huari</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; We are the leading beer producer in Bolivia, according to Nielsen.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Bolivian CSD Market</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In March 2009, we, through Quinsa, acquired from SAB 100% of Bebidas y Aguas Gaseosas Occidente S.R.L., becoming the exclusive bottler of Pepsi in Bolivia.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to our estimates, in 2017, the annual sales volume of the Bolivian CSD market was 13.5 million&nbsp; hectoliters. Of our total CSD volumes in Bolivia in 2017, 45% was directly distributed by us and 55% was distributed through exclusive third-party distributors, while 99% of our CSD sales in that country in 2017 were through non-returnable bottles.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Chile</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to our estimates, the annual sales volume of the Chilean beer market was 8.8 million hectoliters in 2017.&nbsp; Beer consumption in Chile has increased every year since 2009.&nbsp; Our most important beer brands in Chile are </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Becker</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Corona</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">B&#225;ltica</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Stella Artois</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are the second beer producers in Chile, according to Nielsen, and our main competitor and the leader in the country is Compa&#241;&#237;a Cervecer&#237;as Unidas S.A.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In 2015, we became the exclusive distributors of the Corona brand in Chile, and since January 2016 we also started to import and distribute </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Budweiser</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> in Chile. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Paraguay</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to our estimates, the annual sales volume of the Paraguayan beer market was 4.3 million hectoliters in 2017, excluding contraband. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The market for beer in Paraguay has traditionally distinguished itself from those in the southern cone countries in certain respects because (1) beer has not faced significant competition from wine as an alternative alcoholic beverage; (2) the domestic beer market has faced significant competition from imported brands, which accounted for a far higher market share in Paraguay than in neighboring countries; and (3) the seasonality of our products is lower due to warmer conditions throughout the year. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In Paraguay, 71% of our beer volumes is directly distributed by us and 29% is distributed through exclusive third-party distributors.&nbsp; Our main package presentation in Paraguay is the can, which accounted for 48% of our sales in 2017. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our most important beer brands in Paraguay are <EM>Brahma</EM> and <EM>Ouro Fino</EM>, with a leader market position in the country in 2017, according to our estimates.&nbsp; We are also the exclusive distributor of the Budweiser brand in Paraguay. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Uruguay</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Uruguayan Beer Market</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to our estimates, the annual sales volume of the Uruguayan beer market was 1.1 million hectoliters in 2017.&nbsp; Our Latin America South business unit manages both the beer and CSD businesses in Uruguay out of a facility based in that country.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In Uruguay, 24% of our beer volumes is directly distributed by us and 76% is distributed through exclusive third-party distributors.&nbsp; Our main package presentation in Uruguay is the 1-liter returnable glass bottle, which accounted for 72% of our sales in 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our most important beer brands in Uruguay are </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pilsen</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Patricia</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, with a leader market position in 2017, according to our estimates.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Uruguayan CSD Market</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to our estimates, in 2017, the annual sales volume of the Uruguayan CSD market was 3.5 million hectoliters.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In Uruguay, 36% of our CSD volume is directly distributed by us and 64% is distributed through exclusive third-party distributors.&nbsp; Non-returnable bottles accounted for 89% of our sales in that country in 2017.&nbsp; Our most important brand in Uruguay is Pepsi, with The Coca-Cola Company being our main competitor.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Canada - Labatt</FONT></I></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Canadian Beer Market</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our Canada business segment is represented by the Labatt operations, which sells domestic and ABI beer brands, a portfolio of ready-to-drink and cider brands, and exports the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Kokanee</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> beer brand to the United States.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to our estimates, Labatt is the market leader in the Canadian beer market.&nbsp; The main packaging presentation in that country are the returnable, 341-milliliter glass bottle, and the 355-milliliter aluminum can, which are predominantly sold in privately owned and government-owned retail stores in addition to privately owned on-trade establishments.&nbsp; Our main competitor in Canada is Molson Coors, but we also compete with smaller brewers, such as Sleeman Breweries Ltd., or Sleeman, and Moosehead Breweries Ltd.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our main brands in Canada are </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Budweiser</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Bud Light</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> (brewed and sold under license from ABI&#8217;s subsidiary Anheuser-Busch, Inc., or Anheuser-Busch), along with </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Corona</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Labatt Blue</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Alexander Keith&#8217;s</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Stella Artois</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Kokanee</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; Our distribution system in Canada is structured in different ways across the country, as further explained below.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In January 2016, we, through our subsidiaries, acquired Mark Anthony Group&#8217;s ready-to-drink, cider and craft beer business in the Canadian market, and in April 2016, a subsidiary of Labatt Brewing Company Limited, one of our wholly-owned subsidiaries, acquired Archibald Microbrasserie, known for its local beers and seasonal specialties.</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Distribution in Ontario</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In Ontario, the province with the largest beer consumption in Canada, we own together with other brewers a distribution and retail company incorporated in 1927 named Brewers Retail Inc., operating as The Beer Store, or TBS.&nbsp; In 2015, we finalized a new Master Framework Agreement, or MFA, with the government of the Province of Ontario that specifies TBS&#8217;s role as a retailer and distributor of beer.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under the MFA, TBS will continue to be the primary retailer for pack sizes larger than six bottles or cans of beer.&nbsp; The Liquor Control Board of Ontario, or LCBO, a chain of liquor stores owned by the government of the Province of Ontario, will continue to have the ability to sell beer.&nbsp; Most LCBO stores are limited to selling pack sizes of six bottles or cans of beer or less.&nbsp; Under the MFA up to 450 grocery stores may also be granted a license to sell beer in pack sizes of six bottles or cans or less. &nbsp;The MFA came into force on January 1, 2016 and has an initial term of ten years, subject to renewal for successive five-year terms, unless the agreement is terminated after the initial term in accordance with the MFA.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">TBS ownership is now available to all qualifying Ontario-based brewers.&nbsp; TBS&#8217;s new 15-member Board of Directors is made up of the following members: four directors nominated by Labatt;&nbsp; four directors nominated by Molson Coors; four independent directors nominated by a selection committee jointly represented by the Province of Ontario, Labatt and Molson-Coors; two directors nominated by larger brewers (other than Labatt and Molson-Coors) with TBS sales greater than 50,000 hectoliters per year; one director nominated by small Ontario-based brewers who sell less than 50,000 hectoliters per year through TBS.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">TBS operates as a self-funding corporation on a break-even cash flow basis under which it charges volume-based fees for services it provides to the brewers.&nbsp; The nature of TBS&#8217;s business requires compliance with laws and regulations and oversight by the Province of Ontario and its agents.&nbsp; The Liquor Control Act, the Liquor License Act and the Alcohol and Gaming Regulation and Public Protection Act are administered by the Minister of Finance or the Attorney General, which maintains control of the beverage alcohol sectors through the Liquor Control Board of Ontario and the Alcohol and Gaming Commission of Ontario.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Distribution in Quebec</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Quebec is the province in Canada with the second largest beer consumption. &nbsp;In this province there are no exclusive rights for the sales of beer, and both the on-premise and off-premise sales channels are mostly comprised of privately owned stores.&nbsp; The SAQ, a government-operated liquor store, sells a select few beer brands that are not available in the private retail system.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We (as well as our competitors) sell our products in Quebec through a direct sales and distribution system.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Distribution in the Western Provinces</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Molson and Labatt are each a shareholder in Brewers Distributor Limited, which operates a distribution network primarily for beer in the four western provinces of British Columbia, Alberta, Manitoba and Saskatchewan, as well as three territories (Yukon, the Northwest Territories and Nunavut).&nbsp; In Alberta, some volume is also sold through a third-party wholesaler.&nbsp; In these Western Provincial markets, there are both privately controlled retail stores (such as in Alberta and British Columbia) and government-controlled retail stores (such as in British Columbia, Manitoba and Saskatchewan).</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Distribution in the Atlantic Provinces</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We distribute and sell our products in the Atlantic Provinces (including New Brunswick, Newfoundland, Nova Scotia and Prince Edward Island) through (1) distribution and retail networks controlled by the government in the provinces of Nova Scotia, New Brunswick and Prince Edward Island; and (2) private distributors in Newfoundland.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Beer and CSD Production Process</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The basic brewing process for most beers is straightforward, but significant know-how is involved in quality and cost control.&nbsp; The most important stages are brewing and fermentation, followed by maturation, filtering </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">and packaging.&nbsp; Although malted barley (malt) is the primary ingredient, other grains such as unmalted barley, corn, rice or wheat are sometimes added to produce different beer flavors.&nbsp; The proportion and choice of other raw materials varies according to regional taste preferences and the type of beer.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The first step in the brewing process is making wort by mixing malt with warm water and then gradually heating it to approximately 75&#176;C in large mash turns to dissolve the starch and transform it into a mixture, called &#8220;mash,&#8221; of maltose and other sugars.&nbsp; The spent grains are filtered out and the liquid, now called &#8220;wort,&#8221; is boiled.&nbsp; Hops are added at this point to give a special bitter taste and aroma to the beer, and help preserve it.&nbsp; The wort is boiled for one to two hours to sterilize and concentrate it, and extract the flavor from the hops.&nbsp; Cooling follows, using a heat exchanger.&nbsp; The hopped wort is saturated with air or oxygen, essential for the growth of the yeast in the next stage.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Yeast is a micro-organism that turns the sugar in the wort into alcohol and carbon dioxide.&nbsp; This process of fermentation takes five to eleven days, after which the wort finally becomes beer.&nbsp; Different types of beer are made using different strains of yeast and wort compositions.&nbsp; In some yeast varieties, the cells rise to the top at the end of fermentation.&nbsp; Ales and wheat beers are brewed in this way.&nbsp; Pilsen beers are made using yeast cells that settle to the bottom.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">During the maturation process the liquid clarifies as yeast and other particles settle.&nbsp; Further filtering gives the beer more clarity.&nbsp; Maturation varies by type of beer and can take as long as three weeks.&nbsp; Then the beer is ready for packaging in kegs, cans or bottles.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CSDs are produced by mixing water, flavored concentrate and sugar or sweetener.&nbsp; Water is processed to eliminate mineral salts and filtered to eliminate impurities.&nbsp; Purified water is combined with processed sugar or, in the case of diet CSDs, with artificial sweeteners and concentrate.&nbsp; Carbon dioxide gas is injected into the mixture to produce carbonation.&nbsp; Immediately following carbonation, the mixture is packaged.&nbsp; In addition to these inputs, delivery of the product to consumers requires packaging materials such as PET bottles, aluminum cans, labels and plastic closures.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For information on our production facilities, see &#8220;&#8212;D. Property, Plant and Equipment.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Sources and Availability of Raw Materials </FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Beer</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The main raw materials used in our production are malt, non-malted cereals, hops and water.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Barley and Malt</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Malt is widely available and our requirements are met by domestic and international suppliers as well as our own malting facilities.&nbsp; In the case of our beer operations in Brazil, approximately 80% of our malt needs are supplied by our own malting facilities located in the south of Brazil, Argentina and Uruguay. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For the rest of our needs, our most significant malt supplier is Cooperativa Agroindustrial Agraria in Brazil.&nbsp; Market prices for malt are volatile, and depend on the quality and the level of production of the barley crop across the world, as well as on the intensity of demand.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We purchase barley for our malting facilities directly from South America farmers.&nbsp; Barley prices depend on local winter crop markets, wheat market prices on the main boards of trade across the world and on the barley quality during the harvest.&nbsp; We enter into future contracts or financials instruments to avoid the impact of short-term volatility in barley and malt prices on our production costs.&nbsp; See &#8220;Item 11. Quantitative and Qualitative Disclosures about Market Risk.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Hops</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">There are two types of hops used in our beer production: hops used to give beer its distinctive bitter flavor, which we generally import from the United States, and hops used to give beer its distinctive aroma, which we </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">generally import from Europe.&nbsp; The supply of hops is concentrated into a few international companies, namely the Barth-Haas Group, Hopsteiner, Kalsec and HVG.</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Non-malted Cereals</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Corn syrup is purchased from Ingredion, Cargill and Tereos Syral. &nbsp;Corn is purchased to produce grits in-house in some plants and corn grits and rice are purchased in other plants from local suppliers and are generally widely available.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Water</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Water represents a small portion of our raw material costs.&nbsp; We obtain our water requirements from several sources, such as: lakes and reservoirs, deep wells located near our breweries, rivers adjoining our plants and public utility companies.&nbsp; We monitor the quality, taste and composition of the water we use, and treat it to remove impurities and to comply with our high quality standards and applicable regulations.&nbsp; As a result of advances in technology, we have continuously reduced our water consumption per hectoliter produced.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">CSDs</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The main raw materials used in our production are: concentrate (including guaran&#225; extract), sugar, sweetener, juices, water and carbon dioxide gas.&nbsp; Most of these materials are obtained from local suppliers.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Guaran&#225; Berries</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have a 1,070 hectare farm that provides us with 29 tons of guaran&#225; seeds (berries) per year, or about 10.0% of our requirements, with the remainder purchased directly from independent farmers in the Amazon region as well as other guaran&#225; available regions in Brazil.&nbsp; The focus of our own farm is to provide Guaran&#225; seedlings for local producers and promote the sustainable cultivation of Guaran&#225; in the Amazon Region.&nbsp; Approximately 50 thousand seedlings are donated per year.&nbsp; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Concentrates</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have a concentrate facility in the north of Brazil which produces the concentrates to meet our requirements for the production of our proprietary brand Guaran&#225; Antarctica among others.&nbsp; The concentrate for Pepsi CSD products is purchased from PepsiCo.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sugar</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sugar is widely available and is purchased by our regional sourcing entity.&nbsp; We enter into derivative instruments to avoid the impact of short-term volatility in sugar prices on our production costs.&nbsp; See &#8220;Item 11. Quantitative and Qualitative Disclosures about Market Risk.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Juices</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Orange, lemon, grape and others are purchased only in Brazil. Our main suppliers are Louis Dreyfus Commodities, Cutrale, Dohler, Citrus Juice, Citrosuco, Golden and Tecnovin.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Other</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We buy all of the fruit juice, pulp and concentrate that we use in the manufacture of our fruit-flavored CSDs.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Packaging</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Packaging costs are comprised of the cost of glass and PET bottles, aluminum cans, plastic film (shrink and stretch), paper labels, plastic closures, metal crowns and paperboard.&nbsp; We enter into derivative instruments to mitigate the risks of short-term volatility in aluminum prices on our production costs; for further information on this </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">matter see &#8220;Item 11. Quantitative and Qualitative Disclosures About Market Risk.&#8221;&nbsp; For other materials, we usually set a fixed price for the period in accordance with the prevailing macroeconomic conditions.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In April 2008, we started operating a glass bottle producing facility in Rio de Janeiro, which we expanded in November 2015.&nbsp; This unit&#8217;s capacity is of approximately 240 thousand tons of glass and in 2017 such unit attended to 44% of our glass needs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have supply contracts with respect to most packaging materials.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The choice of packaging materials varies by cost and availability in different regions, as well as consumer preferences and the image of each&nbsp;brand. We also use aluminum can sheet for the production of beverage cans and lids.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our aluminum cans are mainly sourced regionally by global companies, while our glass containers are sourced by a variety of suppliers, both regionally and globally. We obtain the labels for our beer and CSD primarily from local suppliers; in Brazil, the majority of our requirements are met by a printing house that belongs to FAHZ and is operated by us pursuant to a lease agreement. Plastic closures are principally purchased regionally, and PET pre-forms are principally purchased regionally by both local and global companies.&nbsp; Crown caps in Brazil are mainly sourced from our vertical operation in Manaus (Arosuco).&nbsp; These producers also supply some of our CAC operations.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Regulation</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">All our operations are subject to local governmental regulation and supervision, including (1) labor laws; (2) social security laws; (3) public health, consumer protection and environmental laws; (4) securities laws; and (5) antitrust laws.&nbsp; In addition, we may also be subject to regulations aimed at (1) ensuring healthy and safe conditions in facilities for the production, bottling, and distribution of beverages and (2) placing restrictions on beer and CSD consumption.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Environmental laws in the countries where we operate are mostly related to (1) the conformity of our operating procedures with environmental standards regarding, among other issues, the emission of gas and liquid effluents and (2) the disposal of one-way packaging.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Governmental restrictions on beer consumption in the markets where we operate vary from one country to another, and in some instances, from one local region to another.&nbsp; The most relevant restrictions are:</FONT></P>

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   <P style="MARGIN-TOP: 10px"><FONT size=2>each country or province has a minimum legal drinking age that is established by the government; the beer legal drinking age varies from 18 to 21 years;</FONT></P></TD></TR>

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   <P style="MARGIN-TOP: 10px"><FONT size=2>some local and federal governments require that retail stores own special licenses for the sale of alcohol; this is the case in some regions of Argentina, Bolivia and Canada;</FONT></P></TD></TR>

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   <P style="MARGIN-TOP: 10px"><FONT size=2>some local and federal governments (including Bolivia) prohibit the sale of alcoholic beverages within a certain distance from schools, hospitals and other designated areas, as well as place certain restrictions on the time of sale and consumption of these products in public places and private clubs;</FONT></P></TD></TR>

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   <P style="MARGIN-TOP: 10px"><FONT size=2>some local governments in Canada establish a minimum price for beer sales, which is named Social Reference Price, or SRP.&nbsp; There is a specific SRP for each different packaging presentation.&nbsp; The SRP may vary from one province to another;</FONT></P></TD></TR>

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   <P style="MARGIN-TOP: 10px"><FONT size=1>&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">in some provinces in Canada the off-trade is restricted to government-owned or licensed stores. S</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">ee &#8220;&#8212;Business Overview&#8212;Description of the Markets Where We Operate&#8212;Canada - Labatt.&#8221;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">; and</FONT></P></TD></TR>

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   <P style="MARGIN-TOP: 10px"><FONT size=2>beer sales in the off-premise channel in Canada in the Province of Ontario are restricted to three retail channels. One of them is the LCBO, which is government-owned.&nbsp; The second retail channel is TBS, which is jointly owned by Labatt and 33 other brewers.&nbsp; The third retail channel is eligible grocery. The Alcohol and Gaming Commission of Ontario regulates the alcohol industry.</FONT></P></TD></TR></TABLE>

<P style="TEXT-ALIGN: center; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">40</FONT></FONT></FONT></FONT></FONT></FONT></FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Many governments also impose restrictions on beer advertisement, which may affect, among other issues, (1) the media channels used, (2) the contents of advertising campaigns, and (3) the time and places where beer can be advertised.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Marketing</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our marketing initiatives are concentrated in off-trade and on-trade initiatives.&nbsp; Off-trade initiatives comprise mass media vehicles, such as television, radio, magazines and internet websites.&nbsp; On-trade initiatives include banners, and all types of enhancements to the point of sale, such as branded coolers and decorated furniture.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Licenses</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Pepsi</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have had a long-term agreement with PepsiCo&nbsp; whereby we have been granted the exclusive right to bottle, sell and distribute certain brands of PepsiCo&#8217;s portfolio of CSDs in Brazil, including </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pepsi-Cola</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Gatorade</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">H2OH!</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Lipton Ice Tea</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; We are also, through our subsidiaries, PepsiCo&#8217;s bottler for Argentina, Uruguay, Bolivia and Dominican Republic.&nbsp; In 2017, sales volumes of PepsiCo products represented approximately 32% of our total NAB sales volumes in Brazil, nearly 62% of our total NAB sales volumes in the Dominican Republic and all of our NAB sales volumes in Argentina, Bolivia and Uruguay. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Licensing Agreements with ABI</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Effective January 1998, Labatt entered into long-term licensing agreements with ABI whereby Labatt was granted the exclusive right and license to manufacture, bottle, sell, distribute and market some of ABI&#8217;s brands, including the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Budweiser</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Bud Light</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> brands, in Canada, including the right to use ABI&#8217;s trademarks for those purposes.&nbsp; The agreements expire in January 2098 and are renewable by either party for a second term of 100 years.&nbsp; In 2017, the ABI brands sold by Labatt represented approximately 57% of Labatt&#8217;s total sales volumes. According to our estimates, the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Budweiser</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> brand is currently the largest selling brand, while </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Bud Light</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> is the third largest selling brand, in Canada in terms of volume.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We also have a licensing agreement with ABI which allows us to exclusively produce, distribute and market </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Budweiser</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> in Brazil.&nbsp; We also have certain arrangements to sell and distribute </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Budweiser</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> products in Paraguay, Guatemala, Dominican Republic, El Salvador, Nicaragua, Uruguay and Chile.</FONT></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We also have a cross-licensing agreement with ABI through which we are allowed to produce, bottle, sell and distribute beer under the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Stella Artois</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> brand in Latin America and Canada on an exclusive basis, and ABI is allowed to produce, bottle, sell and distribute beer under the brand Brahma in Europe, Asia, Africa and the United States on an exclusive basis.&nbsp; Ambev has agreed not to directly or indirectly produce, bottle, distribute, sell or resell (or have an interest in any of these), any other European premium branded beer in Latin America, and ABI has agreed to be bound by the same restrictions relating to any other Latin American premium branded beer in Europe, Asia, Africa and the United States. As a result, in June 2005 we launched </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Stella Artois</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> in Brazil and, since March 2005, ABI has been distributing </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brahma</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> beer in the United States and several countries such as the United Kingdom, Spain, Sweden, Finland and Greece. </FONT></FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We also have ABI&#8217;s subsidiary, Metal Container Corporation, as one of our can suppliers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have also a licensing agreement with Grupo Modelo, S. de R.L. de C.V. (formerly Grupo Modelo, S.A.B. de C.V.), &nbsp;a subsidiary of ABI, to import, promote and resell Corona products (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Corona Extra</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Corona Light</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Coronita</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pacifico</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Negra Modelo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">) in Latin America countries, including Brazil, as well as in Canada.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Taxation</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Beer</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Taxation on beer in the countries where we operate is comprised of different taxes specific to each jurisdiction, such as an excise tax and a value-added tax.&nbsp; The amount of sales tax charged on our beer products in 2017, represented as a percentage of gross sales, was: 44.9% in Brazil;&nbsp; 21.5% in Canada; 18% in Central America; </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">41% in the Dominican Republic; 2% in Cuba; 10% in Barbados; 25.6% in Argentina; 31.5% in Bolivia; 31.5% in Chile; 16.0% in Paraguay; and 31.4% in Uruguay. </FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">NAB</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Taxation on NAB in the countries where we operate is comprised of taxes specific to each jurisdiction, such as an excise tax and a value-added tax.&nbsp; The amount of taxes charged on our NAB products in 2017, represented as a percentage of gross sales, was: 38.5% in Brazil; 12% in the Dominican Republic; 23.6% in Argentina;&nbsp; 22.7%&nbsp; in Bolivia; and 30.0% in Uruguay. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Changes to Brazilian Taxes on Beverages</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In November 2008, the Brazilian Congress approved changes (effective as of January 1, 2009) to the taxable amount and tax rates for (1) the IPI Excise Tax, (2) the PIS Contribution and (3) the COFINS.&nbsp; Under the previous system, these taxes were paid as a fixed rate per hectoliter by all taxpayers.&nbsp; Under the system approved in 2008, higher priced brands pay higher taxes per hectoliter than lower priced brands based on a consumer price reference table.&nbsp; The taxable amount is calculated through the application of a rate to the consumer price established in the respective consumer price reference table.&nbsp; In recent years, taxes on the beverage industry were increased at the Brazilian federal and state levels.&nbsp; In April 2013, an aggregate increase of 2% was approved with respect to the rates of the IPI Excise Tax, the PIS Contribution and the COFINS on beer sales.&nbsp; In addition, in 2014 the IPI Excise Tax, the PIS Contribution and the COFINS were subject to another aggregate increase of 4% in April and 2% in October with respect to beer sales.&nbsp; Moreover, in January 2015 the Brazilian federal government enacted Law No. 13,097, which introduced a new federal taxation model for beer and soft drinks.&nbsp; The law is a result of the combined efforts of the Brazilian federal government and beverage companies with a view to creating a less complex and more predictable tax system for the industry.&nbsp; The new tax model came into force on May 1, 2015. Among other changes, the new set of rules establishes that the IPI Excise Tax, the PIS Contribution and the COFINS are due by manufacturers and wholesalers, and shall be calculated based on the respective sales price (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">ad valorem</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">).&nbsp; Under the previous legislation, the referred taxes were due exclusively by the manufacturer at fixed amounts per liter of beer or soft drink produced (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">ad rem</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">).&nbsp; The new taxation model introduced by Law No. 13,097, Decree No. 8,442/2015 brought temporary reductions on the tax rates applicable to beers and soft drinks.&nbsp; As of January 2018, such temporary reductions are no longer in force. Without such reduction, PIS Contribution and COFINS rates have increased between 5% and 12% over the previously reduced rates for breweries - except for special beers which have 75% or more of barley malt by weight on the original extract as a source of sugar.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In 2012, the following six Brazilian states increased their rates for ICMS Value-Added Tax applicable to beer: Minas Gerais, Sergipe, Amazonas, Mato Grosso, Bahia and the Federal District.&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">In addition, in 2015 the States of S&#227;o Paulo, Rio de Janeiro, Minas Gerais, Distrito Federal, Rio Grande do Sul, Cear&#225;, Amap&#225;, Rondonia, Amazonas, Tocantins, Piau&#237;, Maranh&#227;o, Rio Grande do Norte, Bahia, Pernambuco, Para&#237;ba, Alagoas, Sergipe and Mato Grosso do Sul increased their ICMS Value-Added Tax rate applicable to beer and soft drinks. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In 2017, two Brazilian states, Rio de Janeiro and Acre, increased their respective ICMS Value-Added Tax rates applicable to beer. &nbsp;In 2018, the States of Goi&#225;s and Amazonas increased their respectively soft drinks and beer ICMS rates. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Organizational Structure</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our two direct controlling shareholders, IIBV and AmBrew, both of which are subsidiaries of ABI, together with FAHZ, held in aggregate 72.1% of our total and voting capital stock (excluding treasury shares) as of December 31, 2017. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">ABI indirectly holds shares in us representing 61.9% of our total and voting capital stock (excluding treasury shares) as of December 31, 2017.&nbsp; ABI thus has control over us, even though (1) ABI remains subject to the Ambev Shareholders&#8217; Agreement and (2) ABI is controlled by Stichting that represents an important part of interests of BRC and the Interbrew Founding Families.&nbsp; For further information on these matters see &#8220;Item 4. Information on the Company&#8212;A. History and Development of the Company&#8212;The InBev-Ambev Transactions&#8221; and &#8220;Item 7. Major Shareholders and Related Party Transactions&#8212;A. Major Shareholders&#8212;Ambev&#8217;s Major Shareholders &#8212;Ambev Shareholders&#8217; Agreement.&#8221;</FONT></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">42</FONT></P></DIV>

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    <TD width="50%"></TD>
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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We conduct the bulk of
our operations in Brazil directly.&nbsp; We also indirectly control Labatt and
the operations conducted by our CAC and Latin America South units.&nbsp; The
following chart illustrates the ownership structure of our principal
subsidiaries as of December 31, 2017 based on total share capital owned.&nbsp;
</FONT></P>
<P style="TEXT-ALIGN: center; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm" align=center><IMG border=0 src="img02.gif"></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Property, Plant and Equipment</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our properties consist
primarily of brewing, soft drink production, malting, bottling, distribution and
office facilities in the countries where we operate.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As of December 31,
2017, our aggregate beer and CSD production capacity was 276.5 million
hectoliters per year. In 2017, the total production at the facilities set forth
below was equal to 158.2 million hectoliters. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following is a
list of our principal production facilities as of December 31, 2017:</FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">43</FONT></P>
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<DIV align=left>
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    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America
      North</FONT></B></P></TD>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Plant</FONT></B></P></TD>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Type of
      Plant</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></I></B></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Agudos, S&#227;o
      Paulo</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Equatorial,
      Maranh&#227;o</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Jacare&#237;, S&#227;o
      Paulo</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Lages, Santa
      Catarina</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Natal, Rio Grande do
      Norte</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Guarulhos, S&#227;o
      Paulo</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sete Lagoas, Minas
      Gerais</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Uberl&#226;ndia, Minas
      Gerais</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Petr&#243;polis, Rio de
      Janeiro</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Ponta Grossa,
      Paran&#225;</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Wals/Belo Horizonte, Minas
      Gerais</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Colorado/Ribeir&#227;o Preto,
      S&#227;o Paulo</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Jo&#227;o Pessoa,
      Para&#237;ba</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&#193;guas Claras,
      Sergipe</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Aquiraz,
Cear&#225;</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cama&#231;ari,
    Bahia</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cebrasa,
Goi&#225;s</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cuiab&#225;, Mato
      Grosso</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Jaguari&#250;na, S&#227;o
      Paulo</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Cachoeiras de Macacu, Rio
      de Janeiro</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Soft
      drinks</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Itapissuma,
      Pernambuco</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Nova Rio, Rio de
      Janeiro</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Manaus,
    Amazonas</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Minas, Minas
      Gerais</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Teresina,
    Piau&#237;</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&#193;guas Claras do Sul, Rio
      Grande do Sul</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pira&#237;, Rio de
      Janeiro</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Curitibana,
      Paran&#225;</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Soft
      drinks</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Contagem, Minas
      Gerais</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Soft
      drinks</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Jundia&#237;, S&#227;o
      Paulo</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Soft
      drinks</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Sapucaia, Rio Grande do
      Sul</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Soft
      drinks</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">S&#227;o Paulo, S&#227;o
      Paulo</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Labels</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Manaus,
    Amazonas</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Crown
      Cap</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Campo Grande, Rio de
      Janeiro</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Glass
      Bottle</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Manaus,
    Amazonas</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Concentrate</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Maltaria Navegantes, Rio
      Grande do Sul</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Malt</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Maltaria Passo Fundo, Rio
      Grande do Sul</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Malt</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC</FONT></I></B></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Ambev Centroamerica,
      Guatemala</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Santo Domingo, Dominican
      Republic</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Hato Nuevo, Dominican
      Republic</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">44</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<P>&nbsp;</P>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>
<P></P>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America
      North</FONT></B></P></TD>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Plant</FONT></B></P></TD>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Type of
      Plant</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Saint Vincent</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Dominica</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cuba</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Barbados</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Panama</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR></TABLE>
<DIV></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America
      South</FONT></B></P></TD>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="18%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;</FONT></P></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Plant</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;</FONT></P></TD>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Type of
      Plant</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cympay,
      Uruguay</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Malt</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Musa,
      Uruguay</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Malt</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.9pt">
    <TD style="HEIGHT: 8.9pt; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Malteria Pampa,
      Argentina</FONT></P></TD>
    <TD style="HEIGHT: 8.9pt; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Malt</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Quilmes,
      Argentina</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Corrientes,
      Argentina</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">La Paz,
    Bolivia</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Santa Cruz,
      Bolivia</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cochabamba,
      Bolivia</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Huari,
Bolivia</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Tarija,
    Bolivia</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Santiago,
    Chile</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Minas,
Uruguay</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Ypane,
    Paraguay</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Zarate,
    Argentina</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mendoza,
      Argentina</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Montevideo,
      Uruguay</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mixed</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cordoba,
      Argentina</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Soft
      Drinks</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Trelew,
    Argentina</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Soft
      Drinks</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Buenos Aires South,
      Argentina</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Soft Drinks and
      Juices</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Tucuman,
      Argentina</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Soft
      Drinks</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Tres Arroyos,
      Argentina</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Malt</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Llavallol,
      Argentina</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Malt</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Acheral,
      Argentina</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Coroplas,
      Argentina</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Crown
      Cap</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">FPV, Paraguay</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Bottles</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sacaba,
    Bolivia</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Soft
      Drinks</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">El Alto,
    Bolivia</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Soft
      Drinks</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Enalbo,
    Bolivia</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cans</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">45</FONT></P>
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    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_55></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;</FONT></P></TD>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="18%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Plant</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;
      </FONT></P></TD>
    <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Type of
      Plant</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">St. John&#8217;s</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Halifax</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Montreal</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">London</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Edmonton</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Creston</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mill Street</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Turning Point</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Archibald</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="82%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Alexander
    Keith</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 1.45pt; PADDING-TOP: 1.45pt; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer</FONT></P></TD></TR></TABLE></DIV>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name=_Toc506645683></A></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">46</FONT></P>
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    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_56></A>
<a name="_bclPageBorder56"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
4A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
UNRESOLVED STAFF COMMENTS</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not
applicable.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name=_Toc506645684></A><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM&nbsp;5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
OPERATING AND FINANCIAL REVIEW AND PROSPECTS</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Operating Results</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Introduction</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following
management&#8217;s discussion and analysis of financial condition and results of
operations should be read in conjunction with our audited consolidated financial
statements included elsewhere in this annual report on Form 20-F.&nbsp; This
annual report contains forward-looking statements that involve risks and
uncertainties.&nbsp; Our actual results may differ materially from those
discussed in the forward-looking statements as a result of various factors
including, without limitation, those set forth in &#8220;Cautionary Statement
Regarding Forward-Looking Information&#8221; and the matters set forth in this annual
report generally.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have prepared our
audited consolidated financial statements as of December&nbsp;31, 2017, 2016 and
2015 and for the three years ended December 31, 2017 in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and in accordance
with IFRS as issued by the IASB.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The financial
information and related discussion and analysis contained in this item are in
accordance with IFRS as issued by the IASB.&nbsp; The amounts are in million
</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, unless otherwise stated.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Critical Accounting Policies</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The preparation of
financial statements in conformity with IFRS requires our management to make
judgments, estimates and assumptions that affect the application of accounting
practices and the reported amounts of assets and liabilities, income and
expenses. The estimates and associated assumptions are based on past experience
and various other factors that are believed to be reasonable under the
circumstances, the results of which form the basis for decision making regarding
the judgments about carrying amounts of assets and liabilities that are not
readily evident from other sources. Actual results may differ from these
estimates. Notes 3 and 4 to our audited consolidated financial statements
includes a summary of the critical accounting policies applied in the
preparation of these financial statements.&nbsp; The estimates and assumptions
are reviewed on a regular basis. Changes in accounting estimates may affect the
period in which they are realized, or future periods.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Goodwill</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Goodwill arises on the
acquisition of subsidiaries, associates and joint arrangements. Goodwill is
determined as the excess (i) of the consideration paid; (ii)&nbsp; of the amount
of any non-controlling interests in the acquiree (when applicable); and (iii) of
the fair value, at acquisition date, of any previous equity interest in the
acquiree, over the fair value of the net identifiable assets acquired at the
date of acquisition. All business combinations are accounted for by applying the
purchase method.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In conformity with
IFRS 3 Business Combinations, goodwill is carried at cost and is not amortized,
but tested for impairment at least annually, or whenever there are indications
that the cash generating unit to which the goodwill has been allocated may be
impaired. Impairment losses recognized on goodwill are not reversed. Gains and
losses on the disposal of an entity include the carrying amount of goodwill
relating to the entity sold.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Goodwill is expressed
in the functional currency of the subsidiary or joint operation to which it
relates and translated to Reais using the year-end exchange rate. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Regarding associates
and joint ventures, goodwill is included in the carrying amount of the
investment in the associate/joint ventures.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">If our interest in the
net fair value of the identifiable assets, liabilities and contingent
liabilities recognized exceeds the cost of the business combination such excess
is recognized immediately in the income statement.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">47</FONT></P></DIV>
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    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_57></A>
<a name="_bclPageBorder57"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Expenditure on
internally generated goodwill is expensed as incurred. Goodwill includes the
effects of the predecessor basis of accounting.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Business Combinations Between Entities Under Common
Control</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Business combinations
between entities under common control have not been addressed by IFRS&#8217;s. The
IFRS 3 is the pronouncement that shall be applied to business combinations,
however it explicitly excludes business combinations between entities under
common control from its scope.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Therefore, in
accordance with IAS 8, Management has adopted an accounting practice which is
consistent with United States Generally Accepted Accounting Principles (USGAAP)
and United Kingdom Generally Accepted Accounting Principles (UKGAAP), the
predecessor basis of accounting to record the carrying amount of the asset
received, as recorded by the parent company.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under the predecessor
basis of accounting, when accounting for a transfer of assets or a swap of
shares between entities under common control, the entity that receives the net
assets or the equity interests (the acquirer) shall initially record the assets
and liabilities transferred at their parent book value at the transfer date. If
the book value of assets and liabilities transferred by the parent are different
from the historical cost registered by the controlling entity of the entities
under common control (the ultimate parent), the financial statements of the
acquirer shall reflect the assets and liabilities transferred at the same cost
of the ultimate parent.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Regarding transactions
between entities under common control that involve the disposal or transfer of
assets from the subsidiary to its parent company, i.e. - above the level of our
consolidated financial statement &#8211;, the Company assess the existence of (i)
conflict of interests and (ii) economic substance and purpose. Having fulfilled
these assumptions, the Company adopted as a policy the concepts of IAS 16 in
order to provide adequate visibility and fair impact on the amount of the
distributable results to our shareholders, especially non-controlling interests.
This policy also includes assets acquired through the swap of non-cash assets,
or swap with a combination of cash and non-cash assets. The assets subject to
the swap may be of equal or different nature. The cost of such asset is measured
at fair value, unless (i) the swap transaction is not commercial in nature, or
(ii) the fair value of the asset received (and the asset assigned) cannot be
reliably measured. The acquired asset is measured through this way even if the
assignor entity cannot immediately exclude the asset from its books. If the
acquired asset is not measurable at fair value, its cost is determined by the
book value of the assigned asset.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Whenever there is a
distribution of assets that is not recorded as cash, the asset, before its
distribution, is registered at fair value in the income account. This procedure
is applicable to the distributions in which the assets are equal in nature and
therefore treated equitably. However, similarly to IFRIC 17, in the absence of a
specific accounting practice for transactions under common control, we apply
this procedure in our accounting practice. Also, we apply the same procedure to
sales (products, supplies, etc.) we perform to our controlling entity, where the
positive result of the sale is recognized in the income account.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Joint
Arrangements</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Joint arrangements are
all entities over which we share control with one or more parties. Joint
arrangements are classified as either joint operations or joint ventures
depending on the contractual rights and obligations of each investor.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Employee Benefits</FONT></I></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Post-employment
benefits</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Post-employment
benefits include pensions managed in Brazil by Instituto Ambev de Previd&#234;ncia
Privada, or the IAPP, post-employment dental benefits and post-employment
medical benefits managed by FAHZ. Usually, pension plans are funded by payments
made by both us and our employees, taking into account the recommendations of
independent actuaries. Post-employment dental benefits and post-employment
medical benefits are maintained by the return on FAHZ&#8217;s plan assets. If
necessary, we may contribute some of its profit to FAHZ.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">48</FONT></P></DIV>
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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We manage defined
benefit and defined contribution plans for employees of its companies located in
Brazil and in its subsidiaries located in the Dominican Republic, Panama,
Uruguay, Bolivia and Canada.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We maintain funded and
unfunded plans.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Defined Contribution
Plans</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">A defined contribution
plan is a pension plan under which we pay fixed contributions into a fund. We
have no legal or constructive obligations to pay further contributions if the
fund does not hold sufficient assets to pay all employees for the benefits
relating to employee service in the current and prior periods. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The contributions of
these plans are recognized as expense in the period they are
incurred.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Defined Benefit
Plans</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Typically, defined
benefit plans define an amount of pension benefit that an employee will receive
on retirement, usually dependent on one or more factors such as age, years of
service and compensation.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For defined benefit
plans, expenses are assessed separately for each plan using the projected credit
unit method. The projected credit unit method takes into account each period of
service as giving rise to an additional unit of benefit to measure each unit
separately. Under this method, the cost of providing pensions is charged to the
income statement during the period of service of the employee. The amounts
charged to the income statement consist of current service cost, interest cost,
past service costs and the effect of any settlements and curtailments. The
obligations of the plan recognized in the balance sheet are measured at the
present value of the estimated future cash outflows using a discount rate
equivalent to the government&#8217;s bond rates with maturity terms similar to those
of the obligation and the fair value of the plan assets.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Past service costs
result from the introduction of a new plan or changes to an existing plan. They
are recognized immediately in the income statement, at the earlier of when: (i)
the settlements / curtailments occurs, or (ii) we recognize related
restructuring or termination costs, unless those changes are conditioned to the
employee&#8217;s continued employment, for a specific period of time (the period in
which the right is acquired). In such case, the past services costs are
amortized using the straight-line method during the period in which the right
was acquired.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Actuarial gains and
losses consist of the effects of differences between the previous actuarial
assumptions and what has actually occurred, and the effects of changes in
actuarial assumptions. Actuarial gains and losses are fully recognized in
carrying value adjustments.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Re-measurements,
comprising of actuarial gains and losses, the effect of the asset ceiling and
the return on plan assets, both excluding net interest, are recognized in full
in the period in which they occur in the statement of comprehensive income.
Re-measurements are not reclassified to profit or loss in subsequent
periods.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">When the amount of the
defined benefit obligation is negative (an asset), we recognize those assets
(prepaid expenses), to the extent of the value of the economic benefit available
to us either from refunds or reductions in future contributions.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Other Post-Employment
Obligations</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We and our
subsidiaries provide post-employment medical benefits, reimbursement of certain
medication expenses and other benefits to certain retirees through FAHZ. These
benefits are not granted to new retirees. The expected costs of these benefits
are recognized over the period of employment, using an accounting methodology
similar to that for defined benefit plans, including actuarial gains and
losses.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Termination
Benefits</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Termination benefits
are recognized as an expense at the earlier of: (i) when we are demonstrably
committed, without realistic possibility of withdrawal, to a formal detailed
plan to terminate employment before the normal retirement date, and (ii) when we
recognize costs for a restructuring. </FONT></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">49</FONT></P></DIV>
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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Bonuses granted to
employees and managers are based on pre-defined company and individual target
achievement. The estimated amount of the bonus is recognized as an expense in
the period the bonus is earned. </FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Share-Based Payments</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Different share and
share option programs allow our management and other members appointed by the
Board of Directors to acquire our shares. The fair value of the share options is
estimated at the grant date, using an option pricing model that is most
appropriate for the respective option. Based on the expected number of options
that will be exercised, the fair value of the options granted is recognized as
an expense over the vesting period with a credit to equity. When the options are
exercised, equity is increased by the amount of the proceeds
received.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Provisions</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Provisions, except for
the mentioned on item disputes and litigation, are recognized when: (i) we have
a present obligation (legal or constructive) as a result of past events; (ii) it
is likely that a future disbursement will be required to settle the current
obligation; and (iii) a reliable estimate of the amount of the obligation can be
made. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Provisions, except for
the mentioned on item disputes and litigation, are determined by discounting the
expected future cash flows, to a pre-tax rate, that reflects the current market
assessments of the time value of money and, where appropriate, the risks
specific to the liability. The increase accruals are recognized as finance
expense.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Deferred and Current Income Tax and Social Contribution
</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Income tax and social
contribution for the year comprises current tax and deferred tax. Income tax and
social contribution are recognized in the income statement, unless they relate
to items recognized directly in comprehensive income or other equity accounts.
In these cases the tax effect is also recognized directly in comprehensive
income or equity account (except interest on shareholder&#8217;s equity &#8211; see note 3
(p) to our consolidated financial statements). </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The current tax
expense is the expectation of payment on the taxable income for the year, using
tax rates enacted, or substantially enacted, at the balance sheet date, and any
adjustment to tax payable in respect of previous years.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Deferred taxes are
recognized using the balance sheet liability approach. This means that a
deferred tax liability or asset is recognized for all taxable and tax deductible
temporary differences between the tax and accounting basis of assets and
liabilities. Under this method, a provision for deferred taxes is also
calculated on the differences between the fair value of assets and liabilities
acquired in a business combination and their tax basis. IAS 12 prescribes that
no deferred tax liability on goodwill recognition, and no deferred tax
asset/liability is recorded: (i) at the initial recognition of an asset or
liability in a transaction other than a business combination that at the time of
the transaction affects neither accounting nor taxable profit or loss and (ii)
on differences related to investments in subsidiaries to the extent that they
are not reversed in the foreseeable future. The amount of deferred tax provided
is based on the expectation of the realization or settlement of the temporary
difference, using currently or substantially enacted tax rates.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Deferred tax assets
and liabilities are offset if there is a legally enforceable right to offset
current tax liabilities and assets, and they relate to income taxes levied by
the same tax authority on the same taxable entity, or on different taxable
entities which intend either to settle current tax liabilities and assets on a
net basis, or to realize the assets and settle the liabilities
simultaneously.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The deferred tax asset
is recognized only to the extent that it is probable that future taxable profits
will be available. The deferred income tax asset is reduced to the extent that
it is no longer probable that the future taxable benefit will occur.
&nbsp;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our aggregate weighted
nominal tax rate applicable for the years ended December&nbsp;31, 2017, 2016 and
2015 was 29.2%, 30.2% and 31.6%, respectively.&nbsp; For the years ended
December&nbsp;31, 2017, 2016 and 2015, our IFRS effective tax rate was 39.3%,
2.4% and 22.0%, respectively.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">50</FONT></P></DIV>
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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The main events that impacted the effective tax rate in 2017 were: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">government subsidies on sales taxes: we have state tax incentives within certain industrial development programs in the form of financing, deferral of tax payments or partial reductions of the amount due. Such investment subsidies arising from deferred and presumed ICMS credits are deductible for income tax purposes;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">deductible interest on net equity: Under Brazilian law, companies have the option to distribute interest on equity, or JCP, calculated based on the long-term interest rate, or TJLP, which are deductible for income tax purposes under the applicable legislation, whose approximate amount distributed in the year is R$4,869.8 million, of which R$4,850.1 million are deductible and the tax impact is R$1,649 million; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">withholding tax on dividends: driven by two factors (i) reversal of the provision related to withholding tax on unremitted earnings of Argentinean subsidiaries in 2016 due to a change in the local law that exempts the payment of dividends from withholding tax; and (ii) constitution of provision and exchange variation effect related to withholding tax on unremitted earnings of Canadian subsidiaries of approximately R$ 145 million, as opposed to the approximated amount of R$ 5 million in the same period of the previous year; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">PERT 2017: Amongst the contingencies covered by the Federal Tax Amnesty Program, or PERT 2017, there was a tax assessment discussing the Presumed Profit method used by CRBS (one of Ambev&#8217;s subsidiaries in Brazil) to calculate its corporate income taxes (namely, &#8220;IRPJ&#8221; and &#8220;CSLL&#8221;). The total amount booked as an expense, after the conversion of the Provisional Measure No.783/2017 into law, was R$2,926 million (principal amount and fines), from which R$2,785 million was booked as non-recurring expenses under the corporate income tax and R$141 million under Financial Results. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Derivative Financial Instruments </FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We use derivative financial instruments in order to mitigate against risks related to foreign currency, interest rates and commodity prices. Derivative financial instruments that, although contracted for hedging purposes, do not meet all hedge accounting criteria are recognized at fair value in the income statement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Derivative financial instruments are recognized initially at fair value. Fair value is the amount an asset could be realized and a liability settled, between knowledgeable parties, in an arm&#8217;s length transaction. The fair value of derivative financial instruments may be obtained from quoted market prices or from pricing models that take into account current market rates, and also credit risk quality of the counterpart.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Subsequent to initial recognition, derivative financial instruments are re-measured to their fair value at the balance sheet date. Changes in fair value of derivative financial instruments are recognized in the income statement, except when they are designated as hedge instruments, when any effective portion of gain or loss is recognized directly in other comprehensive income. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cash flow, net investment or fair value hedge accounting is applied to all hedges that qualify for hedge accounting under IAS 39, including the required hedge documentation and hedge effectiveness tests.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cash Flow Hedge Accounting</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">When a derivative financial instrument hedges the variability in cash flows of a recognized asset or liability, the foreign currency risk and the fluctuation of commodity prices associated with a highly probable forecasted transaction, the effective portion of any resulting gain or loss on the derivative financial instrument is recognized directly in other comprehensive income (cash flow hedging reserve). The ineffective portion of any resulting gain or loss is recognized in the income statement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">When a hedging instrument or hedge relationship is terminated but the hedged transaction is still expected to occur, the cumulative gain or loss (at that point) remains in other comprehensive income and is reclassified in accordance with the above policy when the hedged transaction occurs. If the hedged transaction is no longer </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">probable, the cumulative gain or loss recognized in other comprehensive income is recycled into the income statement immediately.</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net Investment Hedge Accounting</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">When a derivative financial instrument hedges the net investment in foreign operations, the effective part of any resulting gain or loss on the derivative financial instrument is recognized directly in other comprehensive income (translation reserve) , while any gains or losses relating to the ineffective portion are recognized in the income statement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">On disposal of a foreign operation, the cumulative gains or losses recognized directly in other comprehensive income is transferred to the income statement.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Fair Value Hedge Accounting</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">When a derivative financial instrument hedges the variability in fair value of a recognized asset or liability or a firm commitment, any resulting gain or loss on the hedging instrument is recognized in the income statement. The hedged item is also stated at fair value in respect of the risk being hedged, with any gain or loss being recognized in the income statement. We do not apply the fair value hedge accounting when the hedge item expires, was sold or exercised.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Derivative financial instruments at fair value through profit or loss</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Certain derivative financial instruments do not qualify for hedge accounting purposes. Changes in fair value of such derivatives financial instruments are immediately recognized in income statement.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Exceptional Items</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Exceptional items are those that, in our management&#8217;s judgment, need to be disclosed separately by virtue of their size or incidence. In determining whether an event or transaction is special, our management considers quantitative as well as qualitative factors such as the frequency or predictability of occurrence, and the potential of impact on the variation of profit or loss. These items are disclosed in the income statement or separately disclosed in the notes to the financial statements. Transactions that may give rise to exceptional items are principally restructuring activities, acquisition of subsidiaries, impairment losses, and gains or losses on disposal of assets and investments.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Year Ended December&nbsp;31, 2017 Compared to Year Ended December&nbsp;31, 2016</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In the periods discussed below, we conducted our operations through three business segments as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Latin America North</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">, which includes our operations in Brazil, where we operate two divisions (the beer sales division and the NAB sales division), and our CAC operations, which includes our operations in the Dominican Republic, Saint Vincent, Antigua, Dominica, Cuba, Guatemala (which also serves El Salvador, Honduras and Nicaragua), Barbados and beginning on December 31, 2016, Panama.&nbsp;&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Latin America South</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">, which includes our operations in Argentina, Bolivia, Paraguay, Uruguay, Chile, and until December 31, 2016, Colombia, Ecuador and Peru. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Canada</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">, represented by Labatt&#8217;s operations, which includes domestic sales in Canada and some exports to the U.S. market.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The table below sets forth certain of our operating highlights for the years presented: </FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">52</FONT></P></DIV>

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  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_62></A>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 14.4pt">
    <TD style="HEIGHT: 14.4pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.4pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="36%" colSpan=3>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Consolidated Financial
      Highlights</FONT></B></P></DIV></TD></TR>
  <TR style="HEIGHT: 14.4pt">
    <TD style="HEIGHT: 14.4pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 14.4pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>
    <TD style="HEIGHT: 14.4pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>
    <TD style="HEIGHT: 14.4pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">% Change</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="36%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(in R$ million, except volume amounts,
      <BR>percentages and per share amounts)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales volume&#8212;&#8217;000
      hectoliters</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">162,829.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">159,821.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1.9%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net sales</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">47,899.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">45,602.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.0%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net revenue per
      hectoliter&#8212;R$/hl</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">294.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">285.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.1%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(18,041.8)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(16,678.0) </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.2%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Gross profit</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">29,857.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">28,924.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.2%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Gross margin
      (%)</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">62%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales, marketing and
      distribution expenses</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(11,915.5)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(12,010.5)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(0.8%)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Administrative
      expenses</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(2,623.8)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(2,166.1)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.1%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Other operating
      income/(expenses)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,217.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,223.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(0.5%)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Exceptional
    item</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(108.7)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,134.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(109.6%)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Income from
      operations</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">16,426.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">17,105.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(4.0%)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Operating margin
      (%)</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">34%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">38%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net income</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7,850.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">13,083.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(40.0%)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net margin
      (%)</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">16%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">29%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD></TR></TABLE></DIV>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Margin Analysis</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following table
sets forth certain line items of our income statement expressed as percentages
of net sales for the years ended December&nbsp;31, 2017 and 2016:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="68%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="32%" colSpan=2>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Year Ended December 31,</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="68%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="16%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="16%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2016</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="68%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="16%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(%)</FONT></I></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="16%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(%)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="68%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net sales</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="68%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(37.7)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(36.6)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="68%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Gross profit</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">62.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.4</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="68%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales, marketing and
      distribution expenses</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(24.9)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(26.3)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="68%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Administrative
      expenses</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(5.5)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(4.7)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="68%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Other operating
      income/(expenses)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.7</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="68%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Exceptional
    items</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(0.2)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.5</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="68%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Income from
      operations</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">34.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">37.5</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Selected Financial
Data by Business Segment</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following table
sets forth selected financial data by business segment, and business operations
of Latin America North, for the years ended December&nbsp;31, 2017 and
2016:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%" colSpan=10>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Year Ended December 31,</FONT></B></P></DIV></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%" colSpan=5>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%" colSpan=5>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2016</FONT></B></P></DIV></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Brazil(1)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">CAC(1)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">LAS</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Canada</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Total</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Brazil(1)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">CAC(1)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">LAS</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Canada</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Total</FONT></B></P></DIV></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="80%" colSpan=10>
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(in R$ million)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Net sales</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">26,353.0</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4,733.0</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">10,769.7</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6,043.5</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">47,899.3</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">24,954.6</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,973.2</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">10,212.9</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6,461.9</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">45,602.6</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="20%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Cost of sales</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(9,898.0)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,045.6)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(4,114.0)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1,984.2)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(18,041.8)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(9,071.8)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1,798.6)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(3,685.4)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,122.2)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(16,678.0)</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Gross profit</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">16,455.0</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,687.4</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6,655.7</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4,059.4</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">29,857.5</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15,882.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,174.6</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6,527.5</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4,339.7</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">28,924.6</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="20%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Sales, marketing, distribution and administrative
      expenses</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(8,472.8)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1,330.0)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,484.3)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,252.2)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(14,539.3)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(8,084.5)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1,038.3)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,697.4)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,356.4)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(14,176.6)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Other operating income/ (expenses)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,092.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">77.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">41.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,217.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,274.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(39.0)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(21.6)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,223.1</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Exceptional items</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(33.0)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(23.1)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(41.3)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(11.3)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(108.7)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,196.7</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(13.5)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(41.5)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(7.4)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,134.3</FONT></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Income from operations</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9,041.9</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,412.1</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4,171.3</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,801.5</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">16,426.8</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">10,269.1</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,132.4</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,749.6</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,954.3</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 4.3pt; PADDING-RIGHT: 4.3pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">17,105.4</FONT></B></P></DIV></TD></TR></TABLE></DIV>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">
<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">The Latin America North business
segment is comprised of Brazil and CAC.</FONT></P>
<DIV align=left>&nbsp;</DIV>
<DIV align=left>
<P></P>
<P><FONT face=Arial></FONT></P></DIV>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">53</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_63></A>
<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Net
Sales</FONT></I>
<DIV></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net sales increased by
5.0% in 2017, to R$47,899.3 million from R$45,602.6&nbsp; million in 2016, as
shown in tables set forth below: </FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Net Sales<BR>Year Ended December
      31,</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="24%" colSpan=2>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="24%" colSpan=2>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Sales</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Sales</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% Change</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in R$ million, except
      percentages)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">. </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">31,086.0</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">64.9%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">28,927.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.4%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.5%</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">26,353.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">55.0%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">24,954.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">54.7%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.6%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer Brazil</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22,509.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">47.0%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21,173.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">46.4%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.3%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NAB</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,843.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.0%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,781.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.3%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1.7%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4,733.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9.9%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,973.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.7%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">19.1%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">10,769.7</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22.5%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">10,212.9</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22.4%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.5%</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6,043.6</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">12.6%</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6,461.9</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">14.2%</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(6.5%)</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">47,899.3</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">45,602.6</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.0%</FONT></B></P></DIV></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Sales Volumes<BR>Year Ended December
      31,</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="24%" colSpan=2>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="24%" colSpan=2>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Volume</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Volume</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% Change</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in thousands of hectoliters, except
      percentages)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">. </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">118,631.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">72.8%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">116,623.7</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">73.0%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1.7%</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">106,360.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">65.3%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">106,961.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">66.9%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(0.6%)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer Brazil</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">80,233.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">49.3%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">79,670.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">49.8%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.7%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NAB</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">26,126.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">16.0%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">27,291.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">17.1%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(4.3%)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">12,271.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.5%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9,671.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.1%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">26.9%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">34,062.0</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">20.9%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">32,934.5</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">20.6%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.4%</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">10,135.7</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.2%</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">10,254.5</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.4%</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(1.2%)</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">162,829.4</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">159,821.6</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1.9%</FONT></B></P></DIV></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="36%" colSpan=3>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Net Revenue per Hectoliter<BR>Year Ended December
      31,</FONT></B></P></DIV></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% Change</FONT></B></P></DIV></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="36%" colSpan=3>
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in R$, except
percentages)</FONT></I></B></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America
      North</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">262.0</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">248.0</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.7%</FONT></B></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">247.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">233.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.2%</FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer
      Brazil</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">280.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">265.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.6%</FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NAB</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">147.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">138.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.2%</FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">385.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">410.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(6.1%)</FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America
      South</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">316.2</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">310.1</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.0%</FONT></B></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">596.3</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">630.2</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(5.4%)</FONT></B></P></DIV></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">294.2</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">285.3</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.1%</FONT></B></P></DIV></TD></TR></TABLE></DIV>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">54</FONT></P>
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   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_64"></A>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North Operations</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazilian Operations </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total net sales from our Brazilian operations increased by 5.6% in 2017, to R$26,353.0 million from R$24,954.6 million in 2016.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our net sales of beer in Brazil increased by 6.3% in 2017, to R$22,509.3 million from R$21,173.1 million in 2016 mainly as a consequence of a 5.6% increase in net revenue per hectoliter in 2017, reaching R$280.5 that year, coupled with a 0.7% increase in sales volume. The increase in net revenue per hectoliter in 2017 resulted mainly from our revenue management initiatives, negatively impacted by a less favorable product mix. Although our sales volume increased in 2017, the Brazilian beer industry was slightly negative, mainly due to the continuing impact of the adverse macroeconomic environment and the retraction in domestic consumption, particularly in the first half of the year.</FONT>&nbsp;</FONT><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our net sales of NAB in Brazil increased by 1.6% in 2017, to R$3,843.7 million from R$3,781.5&nbsp;million in 2016, mainly due to a 6.2% increase in net revenue per hectoliter, reaching R$147.1 in 2017, mainly as a result of our revenue management initiatives. This increase was partially offset by 4.3% decrease in sales volume mainly driven by the adverse macroeconomic environment that led to a retraction in domestic consumption.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC Operations</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net sales from our CAC operations increased by 19.1% in 2017, to R$4,733.0 million from R$3,973.2&nbsp; million in 2016, mainly driven by a 26.9% increase in sales volume, reflecting mainly the benefits from our December 2016 transaction with ABI pursuant to which we acquired SAB&#8217;s Panama operations, partially offset by lower net revenue per hectoliter. Net revenue per hectoliter contracted by&nbsp;6.1% in 2017, reaching R$385.7 that year, as our revenue management initiatives were negatively impacted by currency translation due to the depreciation of local currencies, primarily the Dominican Peso&nbsp;in relation to the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">during</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">the period.</FONT> </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South Operations</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net sales from our Latin America South operations increased by 5.5% in 2017, to R$10,769.7 million from R$10,212.9 million in 2016 mainly due to a 3.4% increase in volume sold, which was primarily driven by an improvement of macroeconomic conditions in Argentina that had a positive impact on consumption in this country coupled with strong performance in other key markets in the region, such as in Paraguay, led by the successful implementation of the 340ml returnable glass bottle strategy, and in Uruguay, due to execution improvements and favorable weather. In addition, net revenue per hectoliter increased by 2.0% in 2017, reaching R$316.2 that year, as our revenue management initiatives were largely impacted by the negative currency translation due to the weakening of the Argentine peso over the period.</FONT> </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada Operations</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net sales from our Canadian operations decreased by 6.5% in 2017, to R$6,043.6 million from R$6,461.9&nbsp;million in 2016.&nbsp; This result was mainly due to (1) the 1.2% volume reduction, reflecting the overall contraction of the Canadian beer industry driven by unfavorable weather during that year and (2) the 5.4% decrease in net revenues per hectoliter, at R$596.3 in 2017, as our focused revenue management initiatives and favorable product mix with increased participation of premium and craft brands was fully offset by the negative impact from currency translation reflecting the depreciation of the Canadian dollar relative to the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> over the period. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Cost of Sales</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales increased by 8.2% in 2017, to R$18,041.8 million from R$16,678.0 million in 2016. As a percentage of our net sales, total cost of sales increased to 37.7% in 2017 from 36.6% in 2016.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The table below sets forth information on cost of sales per hectoliter for the periods presented:</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">55</FONT></P>

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   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_65"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="45%" colSpan=3>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Cost of Sales per Hectoliter<BR>Year Ended December 31,</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% Change</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="45%" colSpan=3>

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in R$, except percentages)</FONT></I></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.7</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">93.2</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.0%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">93.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">84.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9.7%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">98.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">92.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.9%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NAB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">76.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">20.4%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">166.7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">186.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(10.4%)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">120.8</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">111.9</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.9%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">195.8</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">206.9</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(5.4%)</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">110.8</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">104.4</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.2%</FONT></B></P></DIV></TD></TR></TABLE></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North Operations</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazilian Operations</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total cost of sales for our Brazilian operations increased by 9.0% in 2017, to R$9,889.5 million from R$9,071.8&nbsp;million in 2016. On a per hectoliter basis, our Brazilian operations&#8217; cost of sales increased by 9.6% in 2017, to R$93.0 from R$84.8 in 2016.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales for our Brazilian beer operations increased by 7.6% in 2017, to R$7,895.1 million from R$7,339.9 million in 2016, mainly explained by the devaluation of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> in 2016, which impacted our costs in 2017, especially in the first half of the year, as the impact of fluctuations on our currency hedges are typically postponed to the subsequent period, partially offset by the cost-saving benefits derived from the greater mix of returnable glass bottles in our product portfolio together with procurement savings and our commodities hedges.&nbsp; On a per hectoliter basis, cost of sales for our Brazilian beer operations increased by 6.8%, to R$98.4 in 2017 from R$92.1 in 2016, mainly as result of the same factors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales for our Brazilian NAB segment increased by&nbsp;15.2% in 2017, to R$1,994.4 million from R$1,731.9 million in 2016, mainly due to (1)&nbsp;an increase in foreign exchange hedges for the same reasons described above in relation to our Brazilian beer operations in 2017, (2) higher sugar prices, increasing by almost 50% in the second half of the year, (3) lower dilution of fixed costs and (4) a negative mix, which were all partially offset by procurement savings. The cost of sales per hectoliter increased by 20.3% in 2017, totaling R$76.3 from R$63.5 in 2016, mainly as a result of the same factors.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">CAC Operations</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales for our CAC operations increased by 13.7% in 2017, to R$2,045.6 million from R$1,798.7 million in 2016. Such result was below the corresponding increase of sales volumes in the region over the same period as the increased costs for certain raw materials and packaging costs mainly due to inflation were offset by the positive currency translation impact due to the weakening of local currencies, primarily the Dominican Peso, in relation to the real over the period. On a per hectoliter basis, our cost of sales per hectoliter for our CAC operations decreased by 10.8% in 2017, to R$166.7 from R$186.0 in 2016, mainly as a result of the same factors.</FONT></FONT></FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South Operations</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales for our Latin America South operations increased by 11.9% in 2017, to R$4,122.6 million in 2017 from R$3,685.4 million in 2016 mainly due to (1) higher inflation in Argentina, driving up costs, and (2) unfavorable foreign exchange transactional impacts as a result of our costs denominated in U.S. dollars, which was partially offset by the positive impact of currency translation reflecting the depreciation of the Argentine peso over the period together with benefits derived from our commodities hedges and procurement initiatives. On a per hectoliter basis, our cost of sales for our Latin America South operations increased by 8.2% in 2017, to R$121.0 from R$111.9 in 2016, mainly as a result of the same factors.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">56</FONT></P>

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   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_66"></A>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada Operations</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales for our Canadian operations decreased by 6.5% in 2017, to R$1,984.2 million from R$2,122.2 million in 2016, mainly due to (1) the corresponding decrease in sales volume over the period and (2) a positive impact of currency translation reflecting the weakening of the Canadian dollar in relation to real that were partially offset by a negative product mix and increased costs of certain raw materials and packaging mainly due to inflation. Cost of goods sold per hectoliter decreased by 5.4% in 2017, to R$195.8 in 2017 from R$206.9 in 2016, mainly as a result of the same factors.</FONT></FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Gross Profit</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As a result of the foregoing, gross profit increased by 3.2% in 2017, to R$29,857.5 million from R$28,924.6 million in 2016.&nbsp; The table below sets forth the contribution of each business segment to our consolidated gross profit:</FONT></P>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="72%" colSpan=6>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Gross Profit</FONT></B></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="36%" colSpan=3>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="36%" colSpan=3>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2016</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Amount</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Margin</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Amount</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Margin</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="72%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in R$ million, except percentages)</FONT></I></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">19,142.4</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">64.1%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">62%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">18,057.4</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">62.4%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">62.4%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">16,455.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">55.1%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">62%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15,882.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">54.9%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.6%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">14,607.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">48.9%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">65%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">13,833.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">47.8%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">65.3%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NAB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,847.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">48%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2,049.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.1%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">54.2%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2,687.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9.0%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">57%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2,174.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">54.7%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6,655.7</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22.3%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">62%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6,527.5</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.9%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4,059.4</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">13.6%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">67%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4,339.7</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15.0%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">67.2%</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">29,857.5</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">62%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">28,924.6</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.4%</FONT></B></P></DIV></TD></TR></TABLE></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Sales, Marketing, Distribution and Administrative Expenses</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our sales, marketing, distribution and administrative expenses increased by 2.6% in 2017, to R$14,539.3 million from R$14,176.6 million in 2016.&nbsp; An analysis of sales and marketing and administrative expenses for each business segment is set forth below.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North Operations</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazilian Operations</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total sales, marketing, distribution and administrative expenses in Brazil increased by 4.8% in 2017, to R$8,473.4 million from R$8,084.5 million in 2016.</FONT></P><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">

<P></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0in; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales, marketing, distribution and administrative expenses for our Brazilian beer operations increased by&nbsp;4.2% in 2017, to R$7,390.9 million from R$7,095.9 million in 2016.&nbsp; The principal drivers for the increase in these expenses for our Brazilian beer operations were (1) higher administrative expenses that, along with inflation, were driven by variable compensation accruals, (2)&nbsp;an increase in distribution costs, mainly driven by inflation and the increased weight of returnable glass bottles in the off-trade channel direct distribution, and (3) higher depreciation. These were partially offset by lower sales and marketing expenses due to efficiency gains. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0in; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales, marketing, distribution and administrative expenses for the NAB segment in Brazil increased by 9.5% in 2017, to R$1,082.5 million from R$988.6 million in 2016, mainly due to (1) higher sales and marketing expenses as we continued to invest behind our brands, (2) an increase in administrative expenses, mainly due to variable compensation accruals and (3) higher distribution expenses, mainly driven by inflation, which were partially offset by lower depreciation.</FONT></FONT> </FONT></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">57</FONT></P>

<P></P></FONT>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC Operations</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales, marketing, distribution and administrative expenses for our CAC operations increased by 28.1% in 2017, to R$1,330.0 million from R$1,038.3 million in 2016, reflecting the corresponding increase in sales volumes and the commencement of our operations in Panama, which were partially offset by (1) the currency translation effects driven by the depreciation of the Dominican Peso in relation to </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> over the period and (2) efficiency gains in sales, marketing and administrative expenses.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South Operations</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales, marketing, distribution and administrative expenses for our Latin America South operations decreased by 7.9% in 2017, to R$2,483.7 million from R$2,697.4 million in 2016, primarily driven by positive currency translation effect resulting from the depreciation of the Argentine Peso over the period, that more than offset the higher inflation in the region.</FONT></FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada Operations</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales, marketing, distribution and administrative expenses for our Canadian operations decreased by 4.4% in 2017, to R$2,252.2 million from R$2,356.4 million in 2016, mainly as a result of (1) a positive currency translation effect resulting from the depreciation of the Canadian Dollar over the period, and (2) lower sales and marketing expenses that more than offset the increase in distribution and administrative expenses, impacted by inflation and higher depreciation.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Other Operating Income (Expense) </FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Other net operating income decreased by 0.5% in 2017, to R$1,217.3 million from R$1,223.1 million in 2016, mainly explained by a decline in government grants related to state VAT long-term tax incentives in Brazil that were down year over year, due to the expiration of some VAT government grants' agreements in the last quarter of 2016.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Exceptional Items</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Exceptional items amounted to a R$108.7 million expense in 2017 compared to a R$1,134.3&nbsp;million profit recorded in 2016.&nbsp; Such decrease is explained mainly by gains on stocks swap &nbsp;recorded in the last quarter of 2016 as a result of the agreement with ABI, pursuant to which we transferred to ABI our businesses in Colombia, Peru and Ecuador, in exchange for SAB&#8217;s Panamanian business. The expenses recorded in 2017 were mainly in connection with restructuring costs, primarily linked to centralization and sizing projects in Brazil and LAS and the start of our operations in Panama.&nbsp; See &#8220;Item 4. Information on the Company&#8212;A. History and Development of the Company&#8212;Recent Acquisitions, Divestments and Strategic Alliances.&#8221; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Income from Operations</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As a result of the foregoing, income from operations decreased by 4.0% in 2017, to R$16,426.8 million from R$17,105.4 million in 2016.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Net Finance Cost</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our net finance cost decreased by 5.6% in 2017, to R$3,493.9 million from R$3,702.0 million in 2016. This result is mainly explained by lower losses on derivative instruments mainly driven by the carry cost of our currency hedges, primarily linked to the exposure of our cost of goods sold in Brazil and Argentina, which were partially offset by exceptional financial expenses in the amount of R$976.8 million, of which (1) R$835.7 million was related to foreign exchange translation losses on intragroup loans that were historically reported in equity and were recycled to profit and loss account, upon the reimbursement of these loans and (2) R$141.0 million was recorded in connection with our participation in the Brazilian Federal Tax Regularization Program (PERT).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our total year-end indebtedness decreased by R$2,843.3 million in 2017, while our cash and cash equivalents less bank overdrafts and current investment securities increased by R$2,475.9 million in that year.</FONT></P>

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   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_68"></A>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Income Tax Expense</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our consolidated income tax and social contribution on profits totaled R$5,079.3 million in 2017 from R$315.0 million in 2016. The effective tax rate in 2017 was 39.3%, compared to 2.4% in the previous year. Such increase in our effective tax rate in 2017 was primarily due to a tough comparable in 2016, lower accrued benefits from interest on shareholders' equity and R$3,294.7 million exceptional losses on tax adjustments of which: (1) R$2,784.7 million is linked to the Brazilian Federal Tax Regularization Program (PERT) adhered by the Company on September 29, 2017, which involved tax contingencies that were under dispute, including contingencies related to corporate income tax, and (2) R$510.0 million due to the tax effects on foreign exchange variation related to intragroup loans, as aforementioned under "-Net Finance Cost" above.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Net Income</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As a result of the foregoing, net income decreased by 40% in 2017, to R$7,850.5 million from R$13,083.4 million in 2016.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Year Ended December&nbsp;31, 2016 Compared to Year Ended December&nbsp;31, 2015</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In the periods discussed below, we conducted our operations through three business segments as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Latin America North</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">, which includes our operations in Brazil, where we operate two divisions (the beer sales division and the NAB sales division), and our CAC operations, which includes our operations in the Dominican Republic, Saint Vincent, Antigua, Dominica, Cuba, Guatemala (which also serves El Salvador, Honduras and Nicaragua), Barbados and, beginning on December 31, 2016, Panama.&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Latin America South</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">, which includes our operations in Argentina, Bolivia, Paraguay, Uruguay and Chile, and until December 31, 2016, Colombia, Ecuador and Peru.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Canada</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">, represented by Labatt&#8217;s operations, which includes domestic sales in Canada and some exports to the U.S. market.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The table below sets forth certain of our operating highlights for the years presented: </FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="45%" colSpan=3>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Consolidated Financial Highlights</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% Change</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="45%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in R$ million, except volume amounts,<BR>percentages and per share amounts)</FONT></I></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales volume&#8212;&#8217;000 hectoliters</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">159,821.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">169,078.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(5.5%)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">45,602.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">46,720.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(2.4%)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net revenue per hectoliter&#8212;R$/hl</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">285.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">276.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.3%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(16,678.0)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(16,061.4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.8%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Gross profit</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">28,924.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">30,658.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(5.7%)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Gross margin (%)</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.4%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">65.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales, marketing and distribution expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(12,010.5)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(11,177.9)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.4%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Administrative expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(2,166.1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(2,281.3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(5.0%)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Other operating income/(expenses)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,223.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,936.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(36.8%)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Exceptional items</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,134.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(357.2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">417.6%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Income from operations</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">17,105.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">18,778.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(8.9%)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Operating margin (%)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">37.5%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">40.2%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net income</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">13,083.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">12,879.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1.6%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="55%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net margin (%)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">28.7%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">27.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></B></P></TD></TR></TABLE></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Margin Analysis</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following table sets forth certain line items of our income statement expressed as percentages of net sales for the years ended December&nbsp;31, 2016 and 2015:</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">59</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_69></A>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="36%" colSpan=2>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Year Ended December 31,</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2015</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(%)</FONT></I></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(%)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net sales</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(36.6)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(34.4)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Gross profit</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">65.6</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales, marketing and
      distribution expenses</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(26.3)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(23.9)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Administrative
      expenses</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(4.7)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(4.9)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Other operating
      income/(expenses)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4.1</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Exceptional
    items</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(0.8)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Income from
      operations</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">37.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="18%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">40.2</FONT></P></TD></TR></TABLE></DIV>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Selected Financial Data by Business
Segment</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following table
sets forth selected financial data by business segment, and business operations
of Latin America North, for the years ended December&nbsp;31, 2016 and
2015:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%" colSpan=10>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">Year Ended December 31,</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%" colSpan=5>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%" colSpan=5>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">2015</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">Brazil(1)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">CAC(1)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">LAS</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">Canada</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">Total</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">Brazil(1)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">CAC(1)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">LAS</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">Canada</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">Total</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%" colSpan=10>
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">(in R$
      million)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Net sales</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">24,954.6</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,973.2</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">10,212.9</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6,461.9</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">45,602.6</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">26,326.1</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,328.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">11,255.6</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5,809.7</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">46,720.2</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Cost of sales</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(9,071.8)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1,798.6)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(3,685.4)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,122.2)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(16,678.0)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(8,358.3)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1,563.0)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(4,306.8)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1,833.3)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(16,061.4)</FONT></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Gross profit</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15,882.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,174.6</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6,527.5</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4,339.7</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">28,924.6</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">17,967.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,765.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6,948.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,976.4</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">30,658.8</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Sales, marketing, distribution and administrative
      expenses</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(8,084.5)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1,038.3)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,697.4)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,356.4)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(14,176.6)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(7,667.5)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(905.9)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,770.4)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2,115.4)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(13,459.2)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Other operating income/<BR>(expenses)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,274.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(39.0)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(21,6)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,223.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,871.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(0.1)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">60.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,936.1</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Exceptional items</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,196.7</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(13,5)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(41.5)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(7,4)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,134.3</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(265.5)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(8.4)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(39.9)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(43.4)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(357.2)</FONT></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Income from operations</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">10,269.1</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,132.4</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,749.6</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,954.3</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">17,105.4</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">11,906.4</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">851.4</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4,198.9</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,821.8</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">18,778.5</FONT></B></P></DIV></TD></TR></TABLE></DIV>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">
<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">The Latin America North business
segment is comprised of Brazil and CAC.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Net
Sales</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net sales decreased by
2.4% in 2016, to R$45,602.6 million from R$46,720.2 million in 2015, as shown in
tables set forth below:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Net Sales<BR>Year Ended December
      31,</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="24%" colSpan=2>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="24%" colSpan=2>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2015</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Sales</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Sales</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% Change</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in R$ million, except
      percentages)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">. </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">28,927.8</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.4%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">29,654.9</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.5%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(2.5%)</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: 7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">24,954.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">54.7%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">26,326.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">56.4%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(5.2%)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: 7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer Brazil</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21,173.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">46.4%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22,441.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">48.1%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(5.7%)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: 7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NAB</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,781.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.3%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,884.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.3%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(2.7%)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: 7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,973.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.7%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,328.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.1%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">19.4%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">10,212.9</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22.4%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">11,255.6</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">24.1%</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(9.3%)</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6,461.9</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">14.2%</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5,809.7</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">12.4%</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">11.2%</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">45,602.6</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">46,720.2</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(2.4%)</FONT></B></P></DIV></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">60</FONT></P>
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   <TD width="50%"></TD>

   <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt">
   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_70"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Sales Volumes<BR>Year Ended December 31,</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="24%" colSpan=2>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="24%" colSpan=2>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Volume</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Volume</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% Change</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in thousands of hectoliters, except percentages)</FONT></I></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">. </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">116,623.7</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">73.0%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">123,463.4</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">73.0%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(5.5%)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: 7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">106,961.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">66.9%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">114,354.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">67.6%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(6.5%)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: 7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">79,670.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">49.8%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">85,330.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">50.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(6.6%)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: 7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NAB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">27,291.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">17.1%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">29,023.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">17.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(6.0%)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: 7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9,671.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.1%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9,109.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.4%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.2%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">32,934.5</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">20.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">35,914.5</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.2%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(8.3%)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">10,254.5</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.4%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9,700.3</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.7%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.7%</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">159,821.6</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">%</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">169,078.2</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(5.5%)</FONT></B></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="36%" colSpan=3>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Net Revenue per Hectoliter<BR>Year Ended December 31,</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% Change</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="36%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in R$, except percentages)</FONT></I></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">248.0</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">240.2</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.3%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">233.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">230.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1.3%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">265.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">263.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1.1%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NAB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">138.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">133.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.5%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">410.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">365.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">12.4%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">310.1</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">313.4</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(1.1%)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">630.2</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">598.9</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.2%</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">285.3</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">276.3</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.3%</FONT></B></P></DIV></TD></TR></TABLE></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North Operations</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazilian Operations </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total net sales from our Brazilian operations decreased by 5.2% in 2016, to R$24,954.6 million from R$26,326.1 million in 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our net sales of beer in Brazil decreased by 5.7% in 2016, to R$21,173.1 million from R$22,441.3 million in 2015 mainly as a consequence of a 6.6% decrease in sales volume, partially offset by a 1.1% increase in net revenue per hectoliter in 2016, reaching R$265.8 in that year. This decrease in sales volume was mainly due to (1) adverse macroeconomic environment that led to the retraction in domestic consumption and (2) a market share loss from 67.5% in 2015 to 66.3% in 2016. Meanwhile, the increase in net revenue per hectoliter in 2016 resulted mainly from our revenue management initiatives, negatively impacted by state tax increases and a less favorable product mix. As part of our revenue management strategy, we used our full portfolio of packs and brands to achieve more attractive consumer prices, including, through our efforts to increase the use of 300-milliliter returnable glass bottles that accounted for 23% of our supermarket volumes in 2016.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our net sales of NAB in Brazil decreased by 2.7% in 2016, to R$3,781.5 million from R$3,884.8&nbsp;million in 2015, mainly due to a 6.0% decline in sales volume mainly driven by the adverse macroeconomic environment that led to the retraction in domestic consumption, partially offset by a 3.5% increase in net revenue per hectoliter, reaching R$138.6 in 2016, mainly as a result of our revenue management initiatives.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC Operations</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net sales from our CAC operations increased by 19.4% in 2016, to R$3,973.2 million from R$3,328.8&nbsp;million in 2015, mainly driven by (1) a 6.2% increase in sales volume, reflecting the significant increase </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">of beer consumption relative to other alcohol consumption in the Dominican Republic as well as market share gains in Guatemala and (2) a higher net revenue per hectoliter. Net revenue per hectoliter grew 12.4% in 2016, reaching R$410.8 in that year, driven mainly by revenue management initiatives together with&nbsp;the positive impact from currency translation due to the appreciation of the local currencies, mainly the Dominican Peso,&nbsp; relative to the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">over the period. </FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">61</FONT></P>

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   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_71"></A>




<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South Operations</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net sales from our Latin America South operations decreased by 9.3% in 2016, to R$10,212.9 million from R$11,255.6 million in 2015 mainly due to a 8.3% decrease in volume sold, which was primarily driven by the adverse macroeconomic conditions in Argentina that put negative pressure on consumption in this country. However, such impact was partially offset by the strong performance in other key markets in the region, such as Bolivia, Chile and Paraguay. Net revenue per hectoliter decreased 1.1%, reaching R$310.1 in the year, as our revenue management strategy was largely impacted by the negative currency translation due to the weakening of the Argentine peso over the period.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada Operations</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net sales from our Canadian operations increased by 11.2% in 2016, to R$6,461.9 million from R$5,809.7&nbsp;million in 2015.&nbsp; This result was mainly due to (1) the 5.7% volume growth, benefiting from our recent strategic acquisitions in the craft, ready-to-drink and cider categories, (2) our focused revenue management initiatives, (3) the increased participation of premium and craft brands in the mix of products sold and (4) the positive impact from currency translation reflecting the strength of the Canadian dollar over the period.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Cost of Sales</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales increased by 3.8% in 2016, to R$16,678.0 million from R$16,061.4 million in 2015.&nbsp; As a percentage of our net sales, total cost of sales increased to 36.6% in 2016 from 34.4% in 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The table below sets forth information on cost of sales per hectoliter for the periods presented:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="36%" colSpan=3>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Cost of Sales per Hectoliter <BR>Year Ended December 31,</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% Change</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="36%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in R$, except percentages)</FONT></I></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">93.2</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">80.4</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">16.0%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">84.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">73.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">16.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">92.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">79.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">16.3%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NAB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">55.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15.1%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">186.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">171.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.4%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">111.9</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">119.9</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(6.7%)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">206.9</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">189.0</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9.5%</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">104.4</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">95.0</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9.9%</FONT></B></P></DIV></TD></TR></TABLE></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North Operations</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazilian Operations</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total cost of sales for our Brazilian operations increased by 8.5% in 2016, to R$9,071.8 million from R$8,358.3&nbsp;million in 2015. On a per hectoliter basis, our Brazilian operations&#8217; cost of sales increased by 16.0% in 2016, to R$84.8 from R$73.1 in 2015.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales for our Brazilian beer operations increased by 8.6% in 2016, to R$7,339.9 million from R$6,757.6 million in 2015, mainly explained by the devaluation of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> in 2015, which impacted our costs in 2016, as the impact of fluctuations on our currency hedges are typically postponed to the subsequent period, partially offset by the cost-saving benefits derived from the greater mix of returnable glass bottles in our product portfolio together with procurement savings and our commodities hedges.&nbsp; On a per hectoliter basis, cost of sales for </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">our Brazilian beer operations increased by 16.3%, to R$92.1 in 2016 from R$79.2 in 2015, mainly as result of the same factors.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">62</FONT></P>

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   <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt">
   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_72"></A>




<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales for our Brazilian NAB segment increased 8.2% in 2016, to R$1,731.9 million from R$1,600.7 million in 2015, mainly due to (1)&nbsp;an increase in depreciation costs as a result of increased investments in property, plant and equipment in recent years and (2) an increase in foreign exchange hedges, which were partially offset by procurement savings. The cost of sales per hectoliter increased 15.1% in 2016, totaling R$63.5 from R$55.2 in 2015, mainly as a result of the same factors.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC Operations</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales for our CAC operations increased 15.1% in 2016, to R$1,798.7 million from R$1,563.0&nbsp;million in 2015, mainly due to (1) the corresponding increase of sales volumes in the region over the same period, (2) the negative currency translation impact due to the strengthening of the Dominican Peso over the period and (3) increased costs for certain raw materials and packaging costs mainly due to inflation. On a per hectoliter basis, our cost of sales per hectoliter for our CAC operations increased by 8.4% in 2016, to R$186.0 from R$171.6 in 2015, mainly as a result of the same factors.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South Operations</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales for our Latin America South operations decreased by 14.4% in 2016, to R$3,685.4 million in 2016 from R$4,306.8 million in 2015 mainly due to (1) higher inflation in Argentina, driving up costs and (2) unfavorable foreign exchange transactional impacts as a result of our costs denominated in U.S. dollars, which was partially offset by the positive impact of currency translation reflecting the depreciation of the Argentine peso over the period together with benefits derived from our currency and commodities hedges and procurement initiatives. On a per hectoliter basis, our cost of sales for our Latin America South operations decreased by 6.7% in 2015, to R$111.9 from R$119.9 in 2015, mainly as a result of the same factors.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada Operations</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cost of sales for our Canadian operations increased by 15.8% in 2016, to R$2,122.2 million from R$1,833.3&nbsp;million in 2015, mainly due to (1) the corresponding increase in sales volume over the period, (2) a negative product mix driving up costs, (3) increased costs of certain raw materials and packaging mainly due to inflation, and (4) the negative impact of currency translation reflecting the strengthening of the Canadian dollar over the period. Cost of goods sold per hectoliter increased 9.5% in 2016, to R$206.9 in 2016 from R$189.0 in 2015, mainly as a result of the same factors.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Gross Profit</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As a result of the foregoing, gross profit decreased by 5.7% in 2016, to R$28,924.6 million from R$30,658.8 million in 2015.&nbsp; The table below sets forth the contribution of each business segment to our consolidated gross profit:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="72%" colSpan=6>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Gross Profit</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="36%" colSpan=3>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2015</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="36%" colSpan=3>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2014</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Amount</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Margin</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Amount</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">% of Total</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Margin</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="72%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in R$ million, except percentages)</FONT></I></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">18,057.4</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">62.4%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">62.4%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">19,733.6</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">64.4%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">66.5%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15,882.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">54.9%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.6%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">17,967.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">58.6%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">68.3%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beer Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">13,833.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">47.8%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">65.3%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15,683.7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">51.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">69.9%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 21.6pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NAB</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2,049.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.1%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">54.2%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2,284.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.4%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">58.8%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 14.4pt; TEXT-INDENT: -7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2,174.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.5%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">54.7%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,765.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.8%</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">53.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6,527.5</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.9%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6,948.8</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22.6%</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">61.7%</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4,339.7</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15.0%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">67.2%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,976.4</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">13.0%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">68.4%</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">28,924.6</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">63.4%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">30,658.8</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">100.0%</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">65.6%</FONT></B></P></DIV></TD></TR></TABLE></DIV>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">63</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_73></A>
<a name="_bclPageBorder73"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Sales, Marketing, Distribution and Administrative
Expenses</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our sales, marketing,
distribution and administrative expenses increased by 5.3% in 2016, to
R$14,176.6 million from R$13,459.2 million in 2015.&nbsp; An analysis of sales
and marketing and administrative expenses for each business segment is set forth
below.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North
Operations</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazilian
Operations</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total sales,
marketing, distribution and administrative expenses in Brazil increased by 5.4%
in 2016, to R$8,084.5 million from R$7,667.5 million in 2015.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales, marketing,
distribution and administrative expenses for our Brazilian beer operations
increased 4.6% in 2016, to R$7,095.9 million from R$6,786.8 million in
2015.&nbsp; The principal drivers for the increase in these expenses for our
Brazilian beer operations were (1) higher sales and marketing expenses as we
continued to invest behind our brands, (2)&nbsp;mid-single digit increase in
distribution costs, mainly driven by inflation and the increased weight of
returnable glass bottles in the off premise channel direct distribution, and (3)
higher depreciation. These were partially offset by lower administrative
expenses due to efficiency gains.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales, marketing,
distribution and administrative expenses for the NAB segment in Brazil increased
by 12.2% in 2016, to R$988.6 million from R$880.7 million in 2015, mainly due to
changes in our logistics and administrative expenses allocation between
Brazilian beer and NAB operations to better reflect the size of our NAB segment
in Brazil, which were partially offset by lower depreciation.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CAC
Operations</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales, marketing,
distribution and administrative expenses for our CAC operations increased by
14.6% in 2016, to R$1,038.3 million from R$905.9 million in 2015, mainly as a
result of (1) currency translation effects driven by the appreciation of the
Dominican Peso over the period, (2) higher sales and marketing expenses, as we
continued to invest behind our brands, (3) higher distribution expenses
corresponding to higher sales volumes and (4) higher depreciation, which were
partially offset by low single-digit increases of administrative expenses due to
efficiency gains.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South
Operations</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales, marketing,
distribution and administrative expenses for our Latin America South operations
decreased by 2.6% in 2016, to R$2,697.4 million from R$2,770.4 million in 2015,
primarily driven by positive currency translation effect resulting from the
depreciation of the Argentine Peso over the period.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada
Operations</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales, marketing,
distribution and administrative expenses for our Canadian operations increased
by 11.4% in 2016, to R$2,356.4 million from R$2,115.4 million in 2015, mainly as
a result of (1) a negative currency translation effect resulting from the
appreciation of the Canadian Dollar over the period, (2) higher sales and
marketing and administrative expenses, as we continued to invest in our brands,
and (3) higher depreciation.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Other
Operating Income (Expense) </FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Other net operating
income decreased by 36.8% in 2016, to R$1,223.1 million from R$1,936.1 million
in 2015, mainly explained by (1) a decline in government grants as a result of
overall lower volumes and revenues in addition to changes in the geographic mix
of our revenues as we have different plants throughout Brazil with different
state-based tax incentive programs, and (2) an increase in net other operating
income in 2015 with no corresponding benefit in 2016.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">64</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_74></A>
<a name="_bclPageBorder74"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Exceptional Items</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Exceptional items
amounted to a R$1,134.3 million profit in 2016 compared to a
R$357.2&nbsp;million expense recorded in 2015.&nbsp; Such increase is explained
mainly by a non-cash gain on stocks swap &nbsp;recorded in the last quarter of
2016 as a result of the agreement with Anheuser-Busch InBev SA/NV, or ABI,
pursuant to which we agreed to transfer to ABI our businesses in Colombia, Peru
and Ecuador, in exchange for which ABI has agreed to transfer SAB&#8217;s Panamanian
business to us. See &#8220;Item 4. Information on the Company&#8212;A. History and
Development of the Company&#8212;Recent Acquisitions, Divestments and Strategic
Alliances.&#8221;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Income from Operations</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As a result of the
foregoing, income from operations decreased by 8.9% in 2016, to R$17,105.4
million from R$18,778.5 million in 2015.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Net
Finance Cost</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our net finance cost
increased by 63.2% in 2016, to R$3,702.0 million from R$2,268.2 million in
2015.&nbsp; This result is mainly explained by (1) higher net interest expenses,
including non-cash expenses related to the put options associated with our
investment in the Dominican Republic, (2) higher losses on derivative
instruments mainly driven by the carry cost of our currency hedges, primarily
linked to our cost of goods sold exposure in Brazil and Argentina and non-cash
gains or losses related to the mark to market of our hedges, and (3) higher
interest on contingencies.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our total year-end
indebtedness increased by R$1,796.8 million in 2016, while our cash and cash
equivalents less bank overdrafts and current investment securities decreased by
R$5,673.1 million in that year.&nbsp; </FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Income Tax Expense</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our consolidated
income tax and social contribution on profits decreased by 91.3% in 2016, to
R$315.0 million from R$3,634.2 million in 2015.&nbsp; The effective tax rate in
2016 was 2.4%, compared to 22.0% in the previous year.&nbsp; Such decrease in
our effective tax rate in 2016 was primarily due to a R$1,539.3 million gain on
other tax adjustments of which: (1) around R$400 million is explained by a
reversion of withholding tax provisions in July 2016, related to unremitted
earnings from Argentina as legislation in Argentina was enacted revoking a
withholding tax over dividend remittance that was created in 2013
&nbsp;and&nbsp; (2) recognition of R$800 million in deferred tax assets on
carried losses related to international subsidiaries due to the improvement of
our capital structure outside of Brazil.&nbsp;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Net
Income</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As a result of the
foregoing, net income increased by 1.6% in 2016, to R$13,083.4 million from
R$12,879.2 million in 2015.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Liquidity and Capital Resources </FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Sources and Uses</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The information in
this section refers to 2017 and 2016.&nbsp; Our primary sources of liquidity
have historically been cash flows from operating activities and
borrowings.&nbsp; Our material cash requirements have included the
following:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">debt service;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">capital expenditures;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">payments of dividends and interest on shareholders&#8217;
equity;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">increases in ownership of our consolidated subsidiaries
or companies in which we have equity investments; and</FONT></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">65</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_75></A>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">investments in companies participating in the brewing,
NAB and malting industries.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our cash and cash
equivalents and current investment securities at December&nbsp;31,&nbsp;2017 and
2016 were R$10,336.4 million and R$8,159.6 million, respectively.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We believe that cash
flows from operating activities, available cash and cash equivalents and current
investment securities, along with our derivative instruments and our access to
borrowing facilities, will be sufficient to fund our capital expenditures, debt
service and dividend payments going forward.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Cash
Flows</FONT></I></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Operating Activities</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cash flows from our
operating activities increased by 44.8% in 2017, to R$17,874.1 million from
R$12,344.4 million in 2016, mainly as a result of (1) a 5.0% increase in net
sales coupled with a 8.8% increase in cost of sales (excluding depreciation and
amortization) and a growth of 2.8% in sales, marketing, distribution and
administrative expenses (excluding depreciation and amortization) that led us to
improved operational results, (2) an improvement in working capital during 2017,
which increased by R$1,145.4 million in 2017 and (3) a significant decrease in
income taxes paid.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Investing Activities</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cash flows used in our
investing activities decreased by 47.9% in 2017, to R$3,073.0 million from
R$5,898.0 million in 2016, mainly explained by the lower level of capital
expenditures in property, plant and equipment and intangible assets coupled with
lower acquisitions of subsidiaries, net of cash acquired.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Financing Activities</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cash flows used in our
financing activities increased by 10.5% in 2017, to an outflow of R$12,864.1
million from a R$11,645.1 million cash outflow in 2016, mainly driven by (1)
higher repayment of borrowings and (2) lower proceeds from borrowings, partially
offset by a decrease in payment of dividends and interest on shareholders&#8217;
equity and&nbsp; lower outflows related to cash net of finance costs other than
interests.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The table below shows
the profile of our debt instruments: </FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%" colSpan=7>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Maturity Schedule of Debt Portfolio as of December
      31, 2017</FONT></B></P></DIV></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Debt Instrument</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2018</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2019</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2020</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2021</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2022</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Thereafter</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Total</FONT></B></P></DIV></TD></TR>
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      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%" colSpan=7>
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(in R$ million, except
      percentages)</FONT></I></B></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">BNDES Currency Basket Debt Floating
      Rate:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Currency Basket Debt Floating Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-
  </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">UMBNDES + Average Pay Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-
  </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 6pt 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">International Debt:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Other Latin America Currency Floating
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4.96
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4.96
    </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Pay Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2.3%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2.3%
    </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Other Latin America Currency Fixed
    Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">199.1
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">199.1
    </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Pay Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9.3%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9.3%
    </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">US$ Fixed Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6.5
</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">16.4
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">22.9
    </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Pay Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2.2%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4.5%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3.8%
    </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">US$ Floating Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">78.2
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">477.0
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">555.3
    </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Pay Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4.0%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2.5%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2.7%
    </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">CAD Floating Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">685.9
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">685.9
    </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Pay Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2.1%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2.1%
    </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0pt 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Reais </FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Denominated Debt Floating
      Rate &#8211; TJLP &amp; TR:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 6pt 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&nbsp;&nbsp;&nbsp;
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 6pt 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&nbsp;&nbsp;&nbsp;
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 6pt 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&nbsp;&nbsp;&nbsp;
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 6pt 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&nbsp;&nbsp;&nbsp;
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 6pt 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&nbsp;&nbsp;&nbsp;
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 6pt 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&nbsp;&nbsp;&nbsp;
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 6pt 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">&nbsp;&nbsp;&nbsp;
      </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">164.7
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">74.3
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">10.0
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">10.8
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">133.0
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">402.3
    </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">TJLP &amp; TR + Average Pay Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9.1%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9.1%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9.4%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9.4%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9.4%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9.4%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9.2%
    </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0pt 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Reais </FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Debt &#8211; ICMS Fixed
      Rate:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">38.4
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">27.0
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">19.7
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">7.8
</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3.8
</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">33.2
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">129.9
    </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Pay Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5.6%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5.6%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5.6%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5.6%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5.6%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5.6%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5.6%
    </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0pt 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">Reais
      </FONT></I></B><FONT style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"></FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman">Debt &#8211;
      Fixed Rate:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt">&nbsp; </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt">&nbsp; </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt">&nbsp; </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt">&nbsp; </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt">&nbsp; </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt">&nbsp; </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">148.3
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">129.4
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">48.2
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">147.7
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">43.5
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">35.7
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">552.7
    </FONT></P></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Pay Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5.6%</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5.5%</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4.0%</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">11.2%</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3.5%</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3.6%</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6.6%</FONT></P></DIV></TD></TR>
  <TR style="PAGE-BREAK-INSIDE: avoid">
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Total Debt</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,321.1 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">724.1 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">82.4 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">165.5 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">58.0</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">201.9 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,553.0 </FONT></P></DIV></TD></TR></TABLE></DIV>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">66</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_76></A>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Borrowings</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Most of our borrowings
are for general use, based upon strategic capital structure
considerations.&nbsp; Although seasonal factors affect the business, they have
little effect on our borrowing requirements.&nbsp; We accrue interest based on
different interest rates, the most significant of which are: (1) fixed, for the
2021 debentures; (2) Long-Term Interest Rate (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Taxa de Juros de Longo
Prazo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">)</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, </FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">or the TJLP, for loans of the Brazilian Economic and
Social Development Bank (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Banco Nacional de Desenvolvimento Economico e
Social</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">), or the BNDES; (3) the Interest Rate Benchmark
(</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Taxa
Referencial</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">)</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">,</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> or TR, for Bank Credit Notes (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">C&#233;dula de Cr&#233;dito
Banc&#225;rio</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">) and (4) floating for international loans.&nbsp; For
further information, see note 22 of our audited consolidated financial
statements.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following table
sets forth our net cash consolidated position as of December&nbsp;31, 2017 and
2016:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="72%" colSpan=6>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Net Cash Consolidated Position<BR>As of December
      31,</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="36%" colSpan=3>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="36%" colSpan=3>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2016</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">LC(1)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">FC(2)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Total</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">LC(1)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">FC(2)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Total</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="28%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="72%" colSpan=6>
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in R$
      million)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Short-term debt</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(351.4)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(969.7)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(1,321.1)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(726.0)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(2,904.6)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(3,630.6)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Long-term debt</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(733.5)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(498.4)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(1,231.9)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(1,165.2)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(600.5)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(1,765.7)</FONT></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(1,084.9)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(1,468.1)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(2,553.0)</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(1,891.2)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(3,505.1)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(5,396.3)</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cash and cash equivalents (net of bank
      overdrafts)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">10,352.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7,876.8</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Investment securities </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">11.9</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">282.8</FONT></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 7.2pt; TEXT-INDENT: -7.2pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Net cash position</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7,811.6</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%" align=right>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2,763.3</FONT></P></DIV></TD></TR></TABLE></DIV>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">
<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">LC refers to our local currency
indebtedness.</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">FC refers to our foreign currency
indebtedness.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Short-term Debt</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As of December 31,
2017, our short-term debt totaled R$1,321.1 million, 73% of which was
denominated in foreign currencies. As of December 31, 2016, our short-term debt
totaled R$3,630.6 million, 80.0% of which was denominated in foreign
currencies.&nbsp; </FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Long-term Debt</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As of December 31,
2017, our long-term debt, excluding the current portion of long-term debt,
totaled R$1,231.9 million, of which R$733.5 million was denominated in local
currency.&nbsp; As of December 31, 2016, our long-term debt, excluding the
current portion of long-term debt, totaled R$1,765.7 million, of which R$1,165.3
million was denominated in local currency.&nbsp;&nbsp; </FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">67</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD width="50%"></TD>

   <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt">
   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_77"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The table below shows a breakdown of our long-term debt by year:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="84%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">As of December 31, 2017</FONT></B></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="84%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Long-term Debt Maturity in:</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in R$ million)</FONT></I></B></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="84%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2019</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(724.1)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="84%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2020</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(82.4)</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="84%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2021 and Later</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="16%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(425.5)</FONT></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="84%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="16%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(1,231.9)</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In accordance with our foreign currency risk management policy, we have entered into forward and cross-currency interest rate swap contracts in order to mitigate currency and interest rate risks.&nbsp; See &#8220;Item 11. Quantitative and Qualitative Disclosures About Market Risk&#8221; for our policy with respect to mitigating foreign currency and interest rate risks through the use of financial instruments and derivatives.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">On October 30, 2015, Ambev issued R$1.0 billion in Brazilian debentures with a maturity date of October&nbsp;30, 2021, or the 2021 debentures, to qualified investors as defined by applicable CVM regulations.&nbsp; The 2021 debentures bear interest at a rate of 14.476% per annum, payable semi-annually in arrears.&nbsp; This rate is subject to upper or downward adjustments in accordance with upgrades or downgrades to the credit rating of the Company, respectively, as set forth in the respective indenture.&nbsp; The 2021 debentures are unsecured and unsubordinated obligations of Ambev (except for statutorily preferred credits set forth in Brazilian bankruptcy laws).&nbsp; The 2021 debentures are denominated and payable in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; The net proceeds of the offering are being used for capital expenditure investments and, therefore, the 2021 debentures enjoy certain Brazilian federal income tax incentives pursuant to Law 12,431/11.&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As of December&nbsp;31, 2017, our local currency long-term debt borrowings consisted primarily of the 2021 debentures and BNDES debts.&nbsp; Long-term local currency also includes long-term plant expansion and other loans from governmental agencies and special BNDES credit lines and programs, such as the Fund for Financing the Acquisition of Industrial Machinery and Equipment (FINAME) and the Enterprise Financing Program (FINEM).</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Secured Debt</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Certain loans provided by the BNDES are secured by some of our facilities and some of our equipment (mainly coolers). &nbsp;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Sales Tax Deferrals and Other Tax Credits</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Many states in Brazil offer tax benefits programs to attract investments to their regions.&nbsp; We participate in ICMS Value-Added Tax Credit Programs offered by various Brazilian states which provide (1) tax credits to offset ICMS Value-Added Tax payables and (2) ICMS Value-Added Tax deferrals.&nbsp; In return, we are required to meet certain operational requirements including, depending on the state, production volume and employment targets, among others.&nbsp; All of these conditions are included in specific agreements between Ambev and the state governments.&nbsp; In the event that we do not meet the program&#8217;s targets, future benefits may be withdrawn.&nbsp; The total amount deferred (financing) as of December&nbsp;31, 2017 was R$129.9 million with a current portion of R$38.4&nbsp;million, and R$91.5 million as non-current.&nbsp; Percentages deferred typically range from 50% to 92% over the life of the program.&nbsp; Balances deferred generally accrue interest and are partially inflation indexed, with adjustments generally set at 60% to 80% of a general price index.&nbsp; The grants (tax waivers) are received over the lives of the respective programs.&nbsp; In the years ended December&nbsp;31, 2017 and 2016, we recorded R$1,869.35 million and R$1,543.13 million, respectively, of tax credits as gains on tax incentive programs. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Capital Investment Program</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In 2017, consolidated capital expenditures on property, plant and equipment and intangible assets totaled R$3,203.7 million consisting of R$1,859.7 million for our Latin America North business segment, R$1,051.2&nbsp;million related to investments in our Latin America South operations and R$292.8&nbsp; million related to investments in Canada.&nbsp; These expenditures primarily included investments in capacity expansion, quality controls, </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">automation, modernization and replacement of packaging lines,&nbsp;innovations, warehousing for direct distribution, coolers, expenditures for the replacement of bottles and crates, market assets from former dealers, and continued investments in information technology.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">68</FONT></P>

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   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_78"></A>




<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In 2016, consolidated capital expenditures on property, plant and equipment and intangible assets totaled R$4,132.7 million consisting of R$2,450.1 million for our Latin America North business segment, R$1,365.5&nbsp;million related to investments in our Latin America South operations and R$317.1 million related to investments in Canada.&nbsp; These expenditures primarily included investments in capacity expansion, quality controls, automation, modernization and replacement of packaging lines,&nbsp;innovations, warehousing for direct distribution, coolers, expenditures for the replacement of bottles and crates, market assets from former dealers, and continued investments in information technology.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Research and Development </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We maintain an innovation, research and development center in the city of Rio de Janeiro, State of Rio de Janeiro, &nbsp;at the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Universidade Federal do Rio de Janeiro</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> (UFRJ).&nbsp; This new center (ZITEC &#8211; Zone Innovation and Technology Center) replaces the previous R&amp;D structure based in Guarulhos. &nbsp;ZITEC commenced operations in the final months of 2017 in order to accelerate product innovation by developing new liquids and the most modern packaging to assure continuous product differentiation and yearly increases in quality and efficiency. &nbsp;The investment was approximately R$180 million in the last 3 years.&nbsp;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trend Information </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For detailed information regarding the latest trends in our business, see &#8220;&#8212;A. Operating Results&#8212;Year Ended December&nbsp;31, 2017 Compared to Year Ended December&nbsp;31, 2016&#8221; and &#8220;Item 4. Information on the Company&#8212;B. Business Overview&#8212;Description of the Markets Where We Operate.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Off-balance Sheet Arrangements</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have a number of off-balance sheet items which have been disclosed elsewhere in this annual report, under &#8220;Item 4. Information on the Company&#8212;B. Business Overview&#8212;Beer and CSD Production Process&#8212;Sources and Availability of Raw Materials,&#8221; under &#8220;Item 4. Information on the Company&#8212;B. Business Overview&#8212;Beer and CSD Production Process&#8212;Packaging&#8221; and under &#8220;Item 17. Financial Statements,&#8221; note 29 to our consolidated financial statements, &#8220;Collateral and contractual commitments with suppliers, advances from customers and other.&#8221;&nbsp; Off-balance sheet items include future commitments of R$11,096.3 million as of December&nbsp;31, 2017, as set forth in the table below: </FONT></P>

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<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="84%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: justify; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Contractual Obligation</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">As of December 31, 2017</FONT></B></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="84%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in R$ million)</FONT></I></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="84%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Purchase commitments with respect to property, plant and equipment</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">148.4</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="84%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Purchase commitments with respect to raw materials</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">494.6</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="84%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Purchase commitments with respect to packaging materials</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9,599.9</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="84%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Other commitments</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="16%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">853.3</FONT></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="84%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="16%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">11,096.3</FONT></P></DIV></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 10pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT></B>&nbsp;</P>

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    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_79></A>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">F.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Commitments and Contingencies (Tabular Disclosure of Contractual Obligations)
</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following table
and discussion provide additional disclosure regarding our material contractual
obligations and commercial commitments as of December&nbsp;31, 2017: </FONT></P>
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    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Payments Due by Period</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: justify; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Contractual
      Obligations*</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Total</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Less Than<BR>1 Year</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">1-3 Years</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">3-5 Years</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">More Than<BR>5 Years</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="40%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="60%" colSpan=5>
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in R$ million)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Short-term and long-term
      debt**</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2,968.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,511.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">854.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">277.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">326.4</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Finance leasing
      liabilities</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">20.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">18.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Trade and other
      payables</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21,030.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">19,005.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">656.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">147.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,220.7</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales tax
      deferrals</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">892.9</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">172.4</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">192.3</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">212.8</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">315.4</FONT></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total contractual cash
      commitments</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">24,912.9</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">20,691.7</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,721.1</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">637.6</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,862.5</FONT></P></DIV></TD></TR></TABLE></DIV>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">
<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Contractual obligations
referred to in the table above do not include tax payments to be made by the
Company, except payments made in connection with tax benefits.</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">**&nbsp;&nbsp;&nbsp; The long-term debt amounts presented
above differ from the amounts presented in the financial statements in that they
include our best estimates on future interest payable (not yet accrued) in order
to better reflect our future cash flow position. Long-term debt amounts
presented above also include other unsecured debts.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The above table does
not reflect contractual commitments discussed above in &#8220;Off-Balance Sheet
Arrangements.&#8221;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are subject to
numerous commitments and contingencies with respect to tax, labor, distributors
and other claims.&nbsp; To the extent that we believe it is probable that these
contingencies will be realized, they have been recorded in the balance
sheet.&nbsp; We have estimated the total exposures of possible (but not
probable) losses, which are not recorded as liabilities, to be R$60,520.0
million as of December&nbsp;31, 2017.&nbsp; These are not considered
commitments.&nbsp; Our estimates are based on reasonable assumptions and
management assessments, but should the worst case scenario develop, subjecting
us to losses in all cases, our expected net impact on the income statement would
be an expense for this amount.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name=_Toc506645685></A></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">70</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

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   <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt">
   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_80"></A>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Directors and Senior Management</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Board of Directors oversees Ambev&#8217;s executive officers.&nbsp; The Board of Directors is currently comprised of eleven effective members and two alternate members, and provides the overall strategic direction of Ambev.&nbsp; Directors are elected at general shareholders&#8217; meetings for a three-year term, re-election being permitted.&nbsp; Day-to-day management is delegated to the executive officers of Ambev, of which there are currently eleven.&nbsp; The Board of Directors appoints executive officers for a three-year term, re-election being permitted.&nbsp; The Ambev Shareholders&#8217; Agreement regulates the election of directors of Ambev by the controlling shareholders.&nbsp; See &#8220;Item 7. Major Shareholders and Related Party Transactions&#8212;A. Major Shareholders&#8212;Ambev&#8217;s Major Shareholders&#8212;Ambev Shareholders&#8217; Agreement&#8212;Management of Ambev.&#8221; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Directors</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following table sets forth information with respect to the current directors of Ambev:</FONT></P>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%" colSpan=5>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Board of Directors(1)</FONT></B></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="42%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Name</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Age</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="26%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Position</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Director Since(2)</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Term Expires(3)</FONT></B></P></DIV></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Victorio Carlos De Marchi</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">79</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Co-Chairman and Director</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1999</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2020</FONT></P></TD></TR>

<TR style="HEIGHT: 5.85pt; PAGE-BREAK-INSIDE: avoid">

   <TD style="HEIGHT: 5.85pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Carlos Alves de Brito</FONT></P></TD>

   <TD style="HEIGHT: 5.85pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">57</FONT></P></TD>

   <TD style="HEIGHT: 5.85pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Co-Chairman and Director</FONT></P></TD>

   <TD style="HEIGHT: 5.85pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2006</FONT></P></TD>

   <TD style="HEIGHT: 5.85pt; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2020</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Milton Seligman</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">66</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Director</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1999</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2020</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Roberto Moses Thompson Motta</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">60</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Director</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2008</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2020</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Jos&#233; Heitor Attilio Gracioso</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">86</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Director</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1999</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2020</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Vicente Falconi Campos</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">77</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Director</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1999</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2020</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Luis Felipe Pedreira Dutra Leite</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">52</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Director</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2005</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2020</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cec&#237;lia Sicupira</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">36</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Director</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2020</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&#193;lvaro Antonio Cardoso de Souza</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">69</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Director</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2012</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2020</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Antonio Carlos Augusto Ribeiro Bonchristiano</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">50</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Director (Independent)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2020</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Marcos de Barros Lisboa</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">53</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Director (Independent)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2020</FONT></P></TD></TR>

<TR style="PAGE-BREAK-INSIDE: avoid">

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Michel Dimitrios Doukeris</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Director (Alternate)</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2015</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2020</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Nelson Jos&#233; Jamel</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2017</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2020</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Victorio Carlos De Marchi, Co-Chairman of the Board of Directors of Ambev, was appointed by FAHZ, the former controlling shareholder of Antarctica, while Carlos Alves de Brito was appointed by ABI and is also the Chief Executive Officer of ABI.&nbsp; ABI appointed five additional directors: Milton Seligman, Roberto Moses Thompson Motta, Luis Felipe Pedreira Dutra Leite, Vicente Falconi Campos and Cec&#237;lia Sicupira in addition to the alternate directors Michel Dimitrios Doukeris and Nelson Jos&#233; Jamel.&nbsp; FAHZ appointed two additional directors: Jos&#233; Heitor Att&#237;lio Gracioso and &#193;lvaro Antonio Cardoso de Souza.&nbsp; The two independent directors Antonio Carlos Augusto Ribeiro Bonchristiano and Marcos de Barros Lisboa were appointed jointly by ABI and FAHZ.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Directors first elected to our board of directors prior to 2013 were originally appointed as directors of Old Ambev.&nbsp; Directors first elected to our board of directors on or after 2013 were originally elected as directors of Ambev S.A.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Annual Shareholders&#8217; General Meeting to be held in 2020.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following are brief biographies of each of Ambev&#8217;s directors:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Victorio Carlos De Marchi</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; Mr. De Marchi is Co-Chairman of the Board of Directors of Ambev.&nbsp; Mr. De Marchi joined Antarctica in 1961 and held various positions during his tenure, including Chief Executive Officer from 1998 to April 2000.&nbsp; Mr. De Marchi was also president of the Brewing Industry National Association (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sindicerv</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">) until February 2002 and is a member of the Orientation Committee of FAHZ.&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Mr. De Marchi has a degree in economics from </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Faculdade de Economia, Finan&#231;as e Administra&#231;&#227;o de S&#227;o Paulo</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"> and a law degree from </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Faculdade de Direito de S&#227;o Bernardo do Campo</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; His principal business address is Rua Dr. Renato Paes de Barros, 1017, 4th floor, S&#227;o Paulo, SP, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Carlos Alves de Brito</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mr. Brito is Co-Chairman of the Board of Directors of Ambev.&nbsp; He has also served, since December 2005, as Chief Executive Officer of ABI.&nbsp; He joined Brahma in 1989 and has held various management positions during his tenure.&nbsp; He served as Chief Operating Officer of Ambev from 1999 to 2003, as </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Chief Executive Officer for Latin America in 2004 and as Chief Executive Officer for North America in 2005.&nbsp; Mr. Brito holds a degree in mechanical engineering from the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Universidade Federal do Rio de Janeiro</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and an MBA from Stanford University.&nbsp; His principal business address is Brouwerijplein 1, 3000, Leuven, Belgium.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Milton Seligman.&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mr. Seligman is a member of the Board of Directors of Ambev.&nbsp; He served as Corporate Affairs Officer of the Company from 2004 until 2013 (previously Old Ambev)&nbsp; and was also a member of the Board of Directors of Tenedora from 2013 to 2016.&nbsp; Mr. Seligman&nbsp; has a degree in engineering&nbsp; from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Universidade Federal de Santa Maria</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> (Rio Grande do Sul).&nbsp; His principal business address is Rua Dr. Renato Paes de Barros, 1017, 4th floor, S&#227;o Paulo, SP, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Roberto Moses Thompson Motta</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; Mr. Thompson is a member of the Board of Directors of Ambev.&nbsp; He is also a board member of ABI and Lojas Americanas S.A., a retail company.&nbsp; He holds a degree in engineering from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pontif&#237;cia Universidade Cat&#243;lica do Rio de Janeiro</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, and an MBA from the Wharton School of the University of Pennsylvania.&nbsp; His principal business address is 600 Third Avenue, 37th floor, New York, NY, USA.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Jos&#233; Heitor Att&#237;lio Gracioso</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; Mr. Gracioso is a member of the Board of Directors of Ambev.&nbsp; Mr. Gracioso joined Antarctica in 1946 and held various positions during his tenure.&nbsp; In 1994, Mr. Gracioso was elected to Antarctica&#8217;s Board of Directors and, in 1999, he was elected Chairman of the Board of Directors, a position held until April 2000.&nbsp; He holds a degree in marketing from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Escola Superior de Propaganda de S&#227;o Paulo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, a degree in business administration from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Funda&#231;&#227;o Getulio Vargas</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and a degree in law from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Faculdade de Direito de S&#227;o Bernardo do Campo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; His principal business address is Av. Brig. Faria Lima, 3900, 11th floor, S&#227;o Paulo, SP, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Vicente Falconi Campos</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; Mr. Campos is a member of the Board of Directors of Ambev.&nbsp; He is also a member of the Institutional Council of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Instituto de Desenvolvimento Gerencial - INDG</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">. Mr. Campos is also a consultant for the Brazilian government and Brazilian and multinational companies such as Grupo Gerdau, Grupo Votorantim and Mercedes-Benz.&nbsp; He holds a degree in Mining and Metal Engineering from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Universidade Federal de Minas Gerais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, and M.Sc. and Ph.D. degrees from the Colorado School of Mines.&nbsp; His principal business address is Rua Senador Milton Campos, 35, 7th floor, Nova Lima, MG, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Luis Felipe Pedreira Dutra Leite</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mr. Dutra is a member of the Board of Directors of Ambev.&nbsp; He has also served, since January 2005, as Chief Financial Officer of ABI.&nbsp; He joined Brahma in 1990 and has held numerous positions during his tenure, including that of Chief Financial Officer and Investor Relations Officer of Ambev.&nbsp; Mr. Dutra holds a degree in economics from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Universidade C&#226;ndido Mendes</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and an MBA in financial management from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Universidade de S&#227;o Paulo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; His principal business address is Brouwerijplein 1, 3000, Leuven, Belgium.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cec&#237;lia Sicupira</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; Ms. Sicupira is a member of the Board of Directors of Ambev.&nbsp; Currently, she is an alternate member of the Board of Directors of S&#227;o Carlos Empreendimentos e Participa&#231;&#245;es S.A., a member of the Board of Directors of S-BR Global Investments Ltd., S-Velame Administra&#231;&#227;o de Recursos e Participa&#231;&#245;es S.A. (a holding company which holds an ownership interest in ABI), and a member of the Board of Directors of Restaurants Brands International Inc. Ms. Sicupira holds a degree in International Business Administration from the American University of Paris and attended the Harvard Business School&#8217;s Management Program. </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Her principal business address is Rua Dr. Renato Paes de Barros, 1017, 15th floor, S&#227;o Paulo, SP, Brazil. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">&#193;lvaro Antonio Cardoso de Souza</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mr. Souza is a member of Ambev&#8217;s Board of Directors.&nbsp; He served as a member of Ambev&#8217;s Fiscal Council from 2005 to March 2012, and since then has been a member of the Board of Directors of this Company. Mr. Souza holds degrees in economics and business administration from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pontif&#237;cia Universidade Cat&#243;lica de S&#227;o Paulo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">. His principal business address is Avenida Presidente Juscelino Kubitschek 1726, 7th floor, part 71, S&#227;o Paulo, SP, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Antonio Carlos Augusto Ribeiro Bonchristiano</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mr. Bonchristiano is an independent member of the Board of Directors of Ambev. He has also acted as a member of the Board of Directors of several companies, including San Antonio Internacional, Ltd., LBR &#8211; L&#225;cteos Brasil S.A., BRZ Investimentos S.A., Est&#225;cio Participa&#231;&#245;es S.A., BHG S.A. &#8211; Brazil Hospitality Group, BR Properties S.A., Equatorial Energia S.A., GP Investments, Ltd., ALL &#8211; Am&#233;rica Latina Log&#237;stica S.A., Companhia Energ&#233;tica do Maranh&#227;o &#8211; CEMAR, Hopi Hari S.A., Contax Participa&#231;&#245;es S.A., Gafisa S.A. and Magnesita Refrat&#225;rios S.A.&nbsp; He was also a member of the </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Board of Directors and Chief Executive Officer of Submarino S.A. Mr. Bonchristiano has a degree in politics, philosophy and economics from the University of Oxford.&nbsp; His principal business address is Avenida Brig. Faria Lima, 3900, 7th floor, S&#227;o Paulo, SP, Brazil.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Marcos de Barros Lisboa</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">. Mr. Lisboa is an independent member of the Board of Directors of Ambev. He has also acted as Executive Officer of Unibanco S/A and Vice-President of Operational Insurance, Controls and Support of Ita&#250; Unibanco S/A, both companies with main activities in the financial segment.&nbsp; Further, between 2003 and 2005, he acted as Secretary of Economic Politics of Federal Revenue Office (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Minist&#233;rio da Fazenda</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">). Mr. Lisboa has a degree and a masters in economics from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Universidade Federal do Rio de Janeiro</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and a Ph.D. in economics from the University of Pennsylvania.&nbsp; Since the end of the 80s, he has developed activities in the faculty of several teaching institutions in Brazil and abroad.&nbsp; His principal business address is Rua Quat&#225;, 300, S&#227;o Paulo, SP, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Michel Dimitrios Doukeris.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp; Mr. Doukeris is an alternate member of the Board of Directors of Ambev. Since he joined the company in 1996, he held various positions, including Global Chief Sales Officer of ABI and Operations General Manager for the APAC Zone (Asia Pacific) of ABI. Currently he is also Chief Executive Officer for the North America Zone at ABI. Mr. Doukeris holds a degree in chemical engineering from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Universidade Federal Santa Catarina</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and a master&#8217;s degree in marketing from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Funda&#231;&#227;o Getulio Vargas</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; He has also completed post-graduate programs in marketing and marketing strategy from the Kellogg School of Management and Wharton Business School in the United States.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Nelson Jos&#233; Jamel</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">. Mr. Jamel is an alternate member of the Board of Directors of Ambev. From 2007 to 2008, he held the position of Vice President of Finance for Western Europe of ABI. He was also Chief Financial Officer of Compa&#241;ia Cervecera AmBev Dominicana, C. por A.. From 2009 to 2015, he held the position of Chief Financial and Investor Relations Officer of the Company (previously Old Ambev). Currently he is Chief Financial Officer of the North America Zone of Anheuser-Busch InBev N.V/S.A. Mr. Jamel holds a degree in production engineering from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Universidade Federal do Rio de Janeiro</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> from COPPE/UFRJ.&nbsp; His principal business address is Brouwerijplein 1, 3000 Leuven, Belgium.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Executive Officers</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following table sets forth information with respect to the current executive officers of Ambev:</FONT></P>

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   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Position</FONT></B></P></DIV></TD>

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   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Executive Officer Since(1)</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Term Expires(2)</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Bernardo Pinto Paiva</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">48</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Chief Executive Officer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2019</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Ricardo Rittes de Oliveira Silva</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">42</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Chief Financial Officer and Investor Relations Officer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2019</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pedro de Abreu Mariani</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">50</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">General Counsel and Corporate Affairs Executive Officer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2005</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2019</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Ricardo Morais Pereira de Melo</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">45</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sales Executive Officer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2019</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Eduardo Braga Cavalcanti de Lacerda</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">41</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Soft Drinks Executive Officer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2019</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mauricio Nogueira Soufen(3)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">43</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Supply Executive Officer and Logistics Executive Officer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2019</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Daniel Cocenzo</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">43</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Premium and High End Executive Officer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2018</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2019</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">F&#225;bio Vieira Kapitanovas</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">39</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">People and Management Executive Officer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2019</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Paula Nogueira Lindenberg</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">41</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Marketing Executive Officer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2019</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Fernando Maffessoni(4)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">40</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Shared Services and Information Technology Executive Officer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2018</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2019</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="42%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Rodrigo Figueiredo de Souza</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">41</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Procurement Executive Officer</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2019</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">73</FONT></P>

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   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_83"></A>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: justify; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Executive officers first appointed to our board of executive officers prior to 2013 were originally appointed as executive officers of Old Ambev.&nbsp; Executive officers first appointed to our board of executive officers on or after 2013 were originally appointed as executive officer of Ambev S.A.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Until May 11, 2019.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Though Mr. Mauricio Soufen has been an executive officer of Ambev since 2016, he assumed the additional role of Logistics Executive Officer on January 1, 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(4)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Mr. Maffessoni's term as an officer will commence on April 1, 2018 and, accordingly, he was not an officer as of December 31, 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following are brief biographies of each of Ambev&#8217;s executive officers:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Bernardo Pinto Paiva</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; Mr. Pinto Paiva is Ambev&#8217;s Chief Executive Officer.&nbsp; He joined Ambev in 1991 as a management trainee and during his career at our company has held leadership positions in Sales, Supply, Distribution and Finance. He was appointed Zone President North America in January 2008, Zone President Latin America South in January 2009 and Chief Sales Officer of ABI in January 2012. </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">He holds a degree in Engineering from </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Universidade Federal do Rio de Janeiro</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"> and an Executive MBA from </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Pontif&#237;cia Universidade Cat&#243;lica do Rio de Janeiro</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; His principal business address is Rua Dr. Renato Paes de Barros, 1017, 4th floor, S&#227;o Paulo, SP, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Ricardo Rittes de Oliveira Silva</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mr. Rittes is Ambev&#8217;s Chief Financial Officer and Investor Relations Executive Officer.&nbsp; He joined the Company in 2005 and has held the positions of Treasury Manager for Ambev and ABI and has acted as Shared Services and Information Technology Executive Officer from 2012 until 2015. Mr. Rittes holds a degree in production engineering from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Escola Polit&#233;cnica de S&#227;o Paulo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, in addition to an MBA from the University of Chicago.&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">His principal business address is Rua Dr. Renato Paes de Barros, 1017, 4th floor, S&#227;o Paulo, SP, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Pedro de Abreu Mariani</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mr. Mariani is Ambev&#8217;s General Counsel and Corporate Affairs Executive Officer.&nbsp; He joined the Company in 2004.&nbsp; He holds a law degree from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pontif&#237;cia Universidade Cat&#243;lica do Rio de Janeiro</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and an LL.M. from the London School of Economics and Political Science.&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">His principal business address is Rua Dr. Renato Paes de Barros, 1017, 4th floor, S&#227;o Paulo, SP, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Ricardo Morais Pereira de Melo</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mr. Melo is Ambev&#8217;s Sales Executive Officer. Since he joined the Company in 1996, Mr. Melo held various sales positions, including Sales Manager, Commercial Manager in Salvador and in S&#227;o Paulo, Regional Sales Executive Officer in the Northeast and in Rio de Janeiro, as well as Sales Vice-President of Ambev operations in Canada and Sales Strategy Vice-President at Anheuser-Busch InBev, in the United States. He holds a degree in civil engineering from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Universidade Cat&#243;lica de Pernambuco</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and a Corporate MBA from Ambev.&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">His principal business address is Rua Dr. Renato Paes de Barros, 1017, 4th floor, S&#227;o Paulo, SP, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Eduardo Braga Cavalcanti de Lacerda</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mr. Lacerda is Ambev&#8217;s Soft Drinks Executive Officer. Since 2001, when he joined the Company as a trainee, he held various positions, including as the Budget and Business Performance Officer of ABI, as head of Mergers and Acquisitions in Europe for ABI, as Financial Officer in Europe for ABI and as Chief Executive Officer of the CAC zone. </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Mr. Lacerda holds a degree in business administration from </FONT><I><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Pontif&#237;cia Universidade Cat&#243;lica do Rio de Janeiro</FONT></I><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; His principal business address is Rua Dr. Renato Paes de Barros, 1017, 4th floor, S&#227;o Paulo, SP, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Mauricio Nogueira Soufen</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mr. Soufen is Ambev&#8217;s Supply Executive Officer and Logistics Executive Officer.&nbsp; Since he joined the Company in 1996 as a Production Supervisor, he held positions of Brewery Manager in Scotia and Belgium &#8211; where he was the only foreigner that has led the historical Stella Artois brewery, in Leuven. When Mr. Soufen returned to Brazil, served as Regional Director for the North /Central-West region and Director of our Engineering Center based in Jacare&#237;, State of S&#227;o Paulo. Along with the title of brewmaster, Mr. Soufen has a degree in mechatronics engineering from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Escola Polit&#233;cnica da Universidade de S&#227;o Paulo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and an MBA from MIT - Sloan School of Management. His principal business address is Rua Dr. Renato Paes de Barros, 1017, 4th floor, S&#227;o Paulo, SP, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Daniel Cocenzo.&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mr. Cocenzo is Ambev&#8217;s Premium and High End Executive Officer. Since 1999, when he joined the Company, he held various positions, including People and Management Officer for the CAC zone, Sales Officer in Dominican Republic and Regional Sales Officer in Rio de Janeiro and Esp&#237;rito Santo.&nbsp; Mr. Cocenzo </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">holds a bachelor degree in business administration from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pontif&#237;cia Universidade Cat&#243;lica do Rio de Janeiro</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, an MBA from IBMEC and a Corporate MBA from Ambev.&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">His principal business address is Rua Dr. Renato Paes de Barros, 1017, 4th floor, S&#227;o Paulo, SP, Brazil.</FONT></P>

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<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">74</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">F&#225;bio Vieira Kapitanovas</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mr. Kapitanovas is Ambev&#8217;s People and Management Executive Officer. Since 2000, when he joined the Company as a trainee, he held several positions, including Regional Industrial Officer &#8211; South/SPI, Corporate Executive Officer of Logistics Projects and Executive Officer of the Shared Services Center.&nbsp; He has a degree in mechanical engineering from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Polit&#233;cnica de S&#227;o Paulo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, in addition to a Corporate MBA from Ambev.&nbsp; He participated in the AIGLE Program (Insead &#8211; Wharton Alliance) and in the Global Supply Chain Logistics Program, from MIT.&nbsp; </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">His principal business address is Rua Dr. Renato Paes de Barros, 1017, 4th floor, S&#227;o Paulo, SP, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Paula Nogueira Lindenberg</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Ms. Lindenberg is Ambev&#8217;s Marketing Executive Officer.&nbsp; She joined Ambev in 2001 and has held various positions both with the Company and ABI in the marketing area, including Marketing Officer for Brahma, Antarctica and premium portfolio in Brazil and Insights Global Officer. She holds a bachelor degree in business administration from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Funda&#231;&#227;o Getulio Vargas</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and a Corporate MBA from Ambev.&nbsp; Her principal business address is Rua Dr. Renato Paes de Barros, 1017, 4th floor, S&#227;o Paulo, SP, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Fernando Maffessoni.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp; Mr. Maffessoni&#8217;s term as Ambev&#8217;s Shared Services and Information Technology Executive Officer will commence on April 1, 2018. He joined Ambev in 1998 and held various leadership positions in Logistics and Shared Services. Mr. Maffessoni holds a bachelor degree in business administration from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pontif&#237;cia Universidade Cat&#243;lica do Rio Grande do Sul</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and a Corporate MBA from Ambev. </FONT><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">His principal business address is Rua Dr. Renato Paes de Barros, 1017, 4th floor, S&#227;o Paulo, SP, Brazil.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Rodrigo Figueiredo de Souza</FONT></B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mr. Souza is Ambev&#8217;s Procurement Executive Officer. Over the past five years, Mr. Souza held various positions in the Company, including Facility Regional Executive Officer and Logistics Executive Officer in Latin America North. He holds a graduation degree in civil engineering from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Polit&#233;cnica de S&#227;o Paulo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">. His principal business address is Rua Dr. Renato Paes de Barros, 1017, 4th floor, S&#227;o Paulo, SP, Brazil.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Compensation</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The aggregate remuneration of all members of the Board of Directors and Executive Officers of Ambev in 2017 for services in all capacities amounted to R$74.1 million (fixed and variable remuneration and share-based payment), as presented below: </FONT></P>

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   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Management&#8217;s Remuneration<BR>Year Ended December 31, 2017</FONT></B></P></DIV></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">(in R$ million, except where otherwise indicated)</FONT></I></B></P></TD></TR>

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   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Fixed Remuneration</FONT></B></P></DIV></TD>

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   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Fees</FONT></B></P></DIV></TD>

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   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Remuneration for Sitting on Committees</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="5%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Others</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="6%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Bonus</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Profit Sharing</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Remuneration for Attending Meetings</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Commissions</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="6%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Others</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Post-Employment Benefits</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Termination Benefits</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="6%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Share-based Payment</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="5%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Total</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 3.6pt; TEXT-INDENT: -3.6pt" align=left><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">Board of Directors</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">13.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">5.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">1.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">2.1-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">10.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">19.5</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 3.6pt; TEXT-INDENT: -3.6pt" align=left><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">Fiscal Council</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">6.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">1.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">0.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="6%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="5%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">1.9</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 3.6pt; TEXT-INDENT: -3.6pt" align=left><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">Executive Officers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">11.0</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">11.0</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">0.9</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">2.2</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="6%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">10.7</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="6%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="6%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">28.0</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">52.8</FONT></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 3.6pt; TEXT-INDENT: -3.6pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">30.0</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">18.0</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">0.9</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="8%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="5%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">3.6</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="6%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">12.8</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="6%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">-</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="6%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">38.8</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 2.9pt; PADDING-RIGHT: 2.9pt" vAlign=bottom width="5%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">74.1</FONT></B></P></DIV></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition, the executive officers and members of the Board of Directors received some additional benefits provided to all Ambev S.A. employees and their beneficiaries and covered dependents, such as health and dental care.&nbsp; Such benefits were provided through FAHZ.&nbsp; These executive officers and directors also received benefits pursuant to Ambev&#8217;s pension and stock ownership plan.&nbsp; For a description of these plans, see notes 23 and 24 to our audited consolidated financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">On various dates in 2017, pursuant to the terms and conditions of our stock ownership plan, we acquired from our directors and executive officers a total of 26,521 shares of Ambev for R$0.5 million.&nbsp; Such amounts were calculated and paid taking into consideration the closing market price on the day of the transaction.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">75</FONT></P>

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   <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt">
   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_85"></A>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The table below sets forth the minimum, maximum and average individual compensation figures attributable to our directors, executive officers and Fiscal Council members for each of the indicated periods: </FONT></P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="13%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="87%" colSpan=12>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Year Ended December 31,</FONT></B></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="13%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="30%" colSpan=4>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="28%" colSpan=4>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="29%" colSpan=4>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">2015</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="13%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="87%" colSpan=12>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">(in R$ million, except where otherwise indicated)</FONT></I></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="13%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Number of Members</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="8%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Minimum</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="8%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Average</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Maximum</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Number of Members</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Minimum</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Average</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Maximum</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="8%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Number of Members</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Minimum</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Average</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 6pt" face="Times New Roman">Maximum</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="13%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">Board of Directors</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">13.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">0.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">2.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">10.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">12.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">0.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">2.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">8.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">12.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">0.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">1.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">10.1</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=top width="13%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">Fiscal Council</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">6.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="8%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">0.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="8%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">0.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">0.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">6.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">0.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">0.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">0.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="8%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">6.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">0.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">0.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">0.4</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="13%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">Executive Officers</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">11.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">2.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.75pt; PADDING-RIGHT: 5.75pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%" align=center>

   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">4.8</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">14.1</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">11.0</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">1.2</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">3.6</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">14.9</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">11.0</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">1.9</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">4.7</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 7pt" face="Times New Roman">21.4</FONT></P></TD></TR></TABLE></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Ambev Stock Ownership Plan </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under the Ambev Stock Option Plan dated as of July 30, 2013, or the Plan, senior employees and management of either Ambev or its direct or indirect subsidiaries are eligible to receive stock options for Ambev common shares, including in the form of ADSs.&nbsp; As of December 31, 2017, there were outstanding rights under the Plan providing for the acquisition of 135.2 million Ambev common shares by approximately 800 people (including executive management and employees). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Plan establishes the general conditions for granting options, the criteria for defining the strike price and other general terms and conditions of these stock options.&nbsp; Restrictions apply to the divestment of the shares acquired through the Plan, which also defines the various duties and responsibilities of the Board of Directors as Plan Administrator. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pursuant to the Plan, the Board of Directors is conferred with ample powers for the organization and management of the Plan in compliance with its general terms and conditions.&nbsp; The Board of Directors grants stock options and establishes the terms and conditions applicable to each grant through Stock Option Programs, or the Programs, which may define the relevant beneficiaries, the applicable number of Ambev common shares covered by the grant, the respective strike price, the exercise periods and the deadline for exercising the options, as well as the rules regarding option transfers and possible restrictions on the acquired shares, in addition to penalties.&nbsp; Additionally, targets may be set for Ambev&#8217;s performance, with the Board of Directors also being empowered to define specific rules for Ambev employees who are transferred to other countries or to other companies of the group, including to ABI.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beneficiaries to whom stock options are granted must sign Stock Option Agreements, or the Agreements, with Ambev, according to which those beneficiaries have the option to purchase lots of Ambev common shares in compliance with the terms and conditions of the Plan, the corresponding Program and such Agreement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">There are currently three models of stock options that may be granted under the Plan.&nbsp; Under the first model, beneficiaries, in accordance with their internal category, may choose among allocating (i) 30% or 100%, (ii) 40% or 100%, (iii) 60% or 100% &nbsp;of the amounts received by them as profit sharing during the year to the immediate exercise of options, thereby allowing them to acquire the corresponding amount of Ambev shares.&nbsp; Under this model, a substantial part of the shares acquired is to be delivered only within five years from the corresponding option grant date.&nbsp; During such five-year period, the beneficiary must remain employed at Ambev or any other company of its group.&nbsp; Under the second model, the beneficiary may exercise the options granted only after a period of up to five years from the corresponding grant date.&nbsp; Vesting of the options granted under the second model is not subject to company performance measures; however, the right to exercise such options may be forfeited in certain circumstances, including the beneficiary&#8217;s resignation or dismissal prior to the options&#8217; vesting.&nbsp; Under the third model, the beneficiaries, in accordance with their internal category, may choose among allocating (i) 30% or 100%, (ii) 40% or 100%, (iii) 60% or 100%, of the amounts received by them as profit sharing during the year to the immediate exercise of options, thereby allowing them to acquire the corresponding amount of Ambev shares.&nbsp; The totality of the shares acquired is to be delivered to the beneficiary within forty-five days from the corresponding exercising date (which shall not be later than forty-five days from the option grant date). The beneficiaries are under a five-year lock-up period.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Before our adoption of the three stock options models that we currently grant, as described above, six Programs were approved by the Board of Directors from 2006 to 2009 that allowed their beneficiaries to choose between allocating 50%, 75% or 100% of the amounts received by them as profit sharing during the year to the </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">immediate exercise of options, thereby permitting them to acquire the corresponding amount of Ambev shares. &nbsp;Company performance measures applied in order for those stock options to vest and the right to exercise them could be forfeited in certain circumstances, including the beneficiary&#8217;s resignation or dismissal prior to the options&#8217; vesting.&nbsp; Rights for the acquisition of a significant number of Ambev shares under this previous stock option model remain outstanding.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As a means of creating a long term incentive (wealth incentive) for certain senior employees and members of management considered as having &#8220;high potential,&#8221; share appreciation rights in the form of phantom stocks have been granted to those employees, pursuant to which the beneficiary shall receive two separate lots of phantom stock &#8211; Lot A and Lot B &#8211; subject to lock-up periods of five and ten years, respectively.&nbsp; On the fifth or tenth anniversary of the granting of such lots, as the case may be, a beneficiary still employed with us shall receive, in cash, the amount corresponding to the B3 closing price of the relevant Ambev shares (or NYSE closing price in the case of ADSs), on the trading session immediately preceding such anniversary, with each phantom stock corresponding to one share (or ADS, as the case may be).&nbsp; Such share appreciation rights shall not give the beneficiary the right to actually receive any Ambev shares or ADSs; those securities shall merely serve as basis for the calculation of the cash incentive to be received by such beneficiary.&nbsp; Although not subject to performance measures, the right to receive the cash incentive deriving from the phantom stocks may be forfeited in certain circumstances, including the beneficiary&#8217;s resignation or dismissal prior to the relevant anniversary of the share appreciation right.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We implemented a Share Based Payment Plan, or the Share Plan, dated as of April 29, 2016. Under the Share Plan, employees and management of Ambev or its direct or indirect subsidiaries are eligible to receive Ambev shares, including in the form of ADRs. &nbsp;The shares which are subject to the Share Plan are designated as Restricted Shares.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pursuant to the Share Plan, the Board of Directors is conferred with ample powers for the organization and management of the Share Plan in compliance with its general terms and conditions. The Board of Directors may appoint a committee to assist its members in the management of the Share Plan. The Board of Directors or the committee establishes the terms and conditions applicable to each Share Based Payment Programs, or the Share Plan Programs, which defines the relevant beneficiaries, the applicable number of Restricted Shares subject to the Share Plan Program, the Restricted Shares&#8217; transfer procedure and vesting periods, and any possible penalties.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under the Share Plan, up to 0.3% of the shares corresponding to Ambev&#8217;s corporate capital may be granted in total in an amount that may vary according to Ambev internal policies. &nbsp;The delivery of the Restricted Shares is free of charges. &nbsp;Such Restricted Shares shall vest within up to five years from the corresponding grant date, provided that the beneficiary remains employed at Ambev during such vesting period.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Beneficiaries of the Share Plan must sign a Share Based Payment Agreement, or the Share Based Agreements, with Ambev, according to which, those beneficiaries have the right to receive a maximum number of Ambev Shares or ADRs (&#8220;Cap&#8221;), as applicable, provided that the terms and conditions set forth in the Share Plan, Share Plan Programs and in the Share Based Agreements are complied with.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Restricted Shares may entitle beneficiaries to receive additional shares with the same vesting conditions as compensation for dividends and interest on shareholders&#8217; equity paid during the vesting period on the Restricted Shares. The right to receive the Restricted Shares and the additional shares may be totally or partially forfeited in certain circumstances, including the beneficiaries&#8217; resignation or dismissal during the vesting period.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pursuant to the outstanding programs under the Plan or the Share Plan, following the lock-up or vesting periods, as applicable, in the event beneficiaries intend to sell the Ambev shares or ADRs, beneficiaries must first offer such shares or ADRs to Ambev.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">ABI Exceptional Stock Option Grants </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">To encourage its and its subsidiaries&#8217; employees to help with its deleveraging efforts, ABI granted a series of stock options to its executives, including Ambev executives, that had their vesting subject to, among other things, ABI&#8217;s net debt-to-EBITDA ratio falling below 2.5 before December 31, 2013.&nbsp; Such condition had been complied with at that date.&nbsp; Specific forfeiture rules relating to these ABI option grants apply in case of employment termination.&nbsp; Such grants were confirmed on April 28, 2009 by ABI&#8217;s annual general shareholders&#8217; meeting.&nbsp; </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Though the exercise of these ABI exceptional stock options will not cause any dilution to Ambev, we record an expense in connection with them on our income statement.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">On November 25, 2008, ABI&#8217;s board of directors had approved a grant of approximately 28 million of these exceptional stock options to several executives, including approximately 7 million options granted to Ambev executives.&nbsp; Each option gave its beneficiary the right to purchase one existing common share of ABI at an exercise price of EUR 10.32, which corresponded to their fair value at the time of granting of the options.&nbsp; Half of the options had a term of 10 years as from granting and became exercisable on January 1, 2014.&nbsp; The other half had a term of 15 years as from granting and will become exercisable on January 1, 2019.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">On April 30, 2009, ABI granted another approximate 4.9 million of these stock options to approximately 50 executives of the ABI group, including approximately 1.8 million options granted to Ambev executives.&nbsp; Each option gave its beneficiary the right to purchase one existing common share of ABI at an exercise price of EUR 21.94, which corresponded to their fair value at the time of granting of the options.&nbsp; The options have a term of 10 years as from granting and became exercisable on January 1, 2014.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">On December 18, 2009, ABI granted another approximate 1.6 million exceptional stock options to its executives, including approximately 97.8 thousand options granted to Ambev executives.&nbsp; Each option gave its beneficiary the right to purchase one existing common share of ABI at an exercise price of EUR 35.90 and became exercisable on December 18, 2014.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Ambev Pension Plan </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Ambev&#8217;s pension plans for employees in Brazil are administered by the IAPP.&nbsp; The IAPP operates both a defined benefit pension plan (closed to new participants since May 1998) and a defined contribution plan, which supplements benefits that the Brazilian government&#8217;s social security system provides to our employees.&nbsp; The defined contribution plan covers substantially all new employees.&nbsp; The IAPP was established solely for the benefit of our employees and its assets are held independently. The IAPP is managed by a Governing Board (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Conselho Deliberativo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">), which has three members, two of whom are appointed by Ambev, and one member represents active and retired employees.&nbsp; The IAPP also has an Executive Board (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Diretoria Executiva</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">) containing three members, all of whom are appointed by IAPP&#8217;s Council Board.&nbsp; The IAPP also has a Fiscal Council with three members, two of whom appointed by Ambev and one member represents active and retired employees. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Any employee upon being hired may opt to join the defined contribution plan.&nbsp; When pension plans members leave Ambev before retirement, but having contributed at least three years to the IAPP plan, they have some options such as: (a) having their contributions refunded, (b) transferring their contributions to a bank or insurance company, (c) keeping their investment in IAPP to be paid in installments, and (d) continuing to IAPP for future retirement under the existing terms.&nbsp; In the event the employee leaves the Company prior to completing three years as a participant, such employee will only be entitled to refund his/her contributions to the plan. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As of December 31, 2017, we had 6,310 participants in our pension plans, including 589 participants in the defined benefit plan, 5,721 participants in the defined contribution plan, and 1,055 retired or assisted participants. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Plan assets are comprised mainly of equity securities, government and corporate bonds and real estate properties.&nbsp; All benefits are calculated and paid in inflation-indexed </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Labatt provides pension plan benefits in the defined contribution model and in the defined benefit model to its employees, as well as certain post-retirement benefits.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For information on amount recorded by us on December 31, 2017 as liabilities for pension plan benefits, see note 24 to our audited consolidated financial statements, included elsewhere in this annual report on Form 20-F.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Profit-Sharing Plan</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Employees&#8217; performance-based variable bonuses are determined on an annual basis taking into account the achievement of corporate, department or business-unit and individual goals, established by the Board of Directors.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The distribution of
these bonuses is subject to a three-tier system in which Ambev must first
achieve performance targets approved by the Board of Directors.&nbsp; Following
that, each department or business segment must achieve its respective targets.
Finally, individuals must achieve their respective performance targets.
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For employees involved
in operations, we have a collective award for production sites and distribution
centers with outstanding performances.&nbsp; The bonus award at the distribution
centers and production sites is based on a ranking between the different
distribution centers and production sites (as the case may be), which, based on
their relative ranking, may or may not receive the bonus.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We provisioned R$543.2
million under these programs for the year ended December 31, 2017, R$188.0
million for the year ended December 31, 2016 and R$531.8 million for the year
ended December 31, 2015. </FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Board Practices </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">During 2017, our
management held individual and group meetings with shareholders, investors and
analysts to talk about the performance of our business and our opportunities for
growth both in the short-term as well as in the future.&nbsp; We also
participated in conferences and road shows in Brazil, the United States and
Europe.&nbsp; We hosted quarterly conference calls, transmitted simultaneously
on the Internet, to clarify financial and operating results as well as answered
questions from the investment community.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Fiscal Council </FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal" color=windowtext face="Times New Roman">(Conselho Fiscal)</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Ambev&#8217;s Fiscal Council
is a permanent body.&nbsp; At our annual shareholders&#8217; meeting held on April 28,
2017, the following members of the Fiscal Council were appointed for a term
expiring upon the annual general shareholders&#8217; meeting of 2018: James Terence
Coulter Wright, Jos&#233; Ronaldo Vilela Rezende and Paulo Assun&#231;&#227;o de Sousa, and, as
alternates, Emanuel Sotelino Schifferle, Ary Waddington and Vinicius Balbino
Bouhid (the latter of whom serves as alternate only to Paulo Assun&#231;&#227;o de
Sousa).&nbsp; All of them are &#8220;independent&#8221; members as per Rule 10A-3(c)(3) of
the Sarbanes-Oxley Act of 2002.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The responsibilities
of the Fiscal Council include supervision of management, performing analyses and
rendering opinions regarding our financial statements and performing other
duties in accordance with the Brazilian Corporation Law and its charter.&nbsp;
None of the members of the Fiscal Council is also a member of the Board of
Directors or of any committee of the Board.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Minority holders
representing at least 10% of our common shares are entitled to elect one member
and respective alternate to the Fiscal Council without the participation of the
controlling shareholders.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have relied on the
exemption provided for under Rule 10A-3(c)(3) of the Sarbanes-Oxley Act of 2002,
which enables us to have our Fiscal Council perform the duties of an audit
committee for the purposes of such Act, to the extent permitted by Brazilian
law.&nbsp; We do not believe that reliance on this exemption would materially
adversely affect the ability of our Fiscal Council to act independently and to
satisfy the other requirements of such Act.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">The
Board of Directors</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Most of our Board
members have been in office for several years and were elected or reelected to
the Board of Directors of Ambev at the Company&#8217;s extraordinary general
shareholders&#8217; meeting held on April 28, 2017 and the Company&#8217;s Board meetings
held on May 16, 2017 and January 11, 2018, for a term expiring at the annual
general shareholders&#8217; meeting to be held in 2020.&nbsp; These Board members use
their extensive knowledge of our business to help ensure that we reach our
long-term goals, while maintaining our short-term competitiveness.&nbsp; Another
objective of the Board of Directors is to encourage us to pursue our short-term
business goals without compromising our long-term sustainable growth, while at
the same time trying to make sure that our corporate values are
observed.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under our bylaws, at
least two members of the Board of Directors shall be independent
directors.&nbsp; For the applicable director independence criteria, see &#8220;Item
10. Additional Information&#8212;B. Memorandum and Articles of Association&#8212;Board of
Directors.&#8221;</FONT></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">79</FONT></P></DIV>
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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Ambev&#8217;s Co-Chairmen of
the Board of Directors and the Chief Executive Officer are separate positions
that must be held by different individuals.&nbsp; </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Board of Directors
is supported in its decision-making by the following committees:</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Operations, Finance and Compensation
Committee</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Operations,
Finance and Compensation Committee is the main link between the policies and
decisions made by the Board of Directors and Ambev&#8217;s management team.&nbsp; The
Operations, Finance and Compensation Committee&#8217;s responsibilities
include:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">to present medium and long-term planning proposals to the
Board of Directors;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">to analyze and issue an opinion on the decisions of the
Board of Directors regarding the compensation policies for the Board of
Directors and Executive Management, including their individual compensation
packages, to help ensure that the members of the Board and executive management
are being adequately motivated to reach an outstanding performance in
consideration for proper compensation; </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">to monitor the investors relations strategies and the
performance of our rating, as issued by the official rating agencies;
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">to monitor the evaluation of the executive officers,
senior management and their respective succession plans; </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">to analyze, monitor and propose to the Board of Directors
suggestions regarding legal, tax and relevant regulatory matters;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">to analyze and monitor our annual investment
plan;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">to analyze and monitor growth opportunities;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">to analyze and monitor our capital structure and cash
flow; and</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">to analyze and monitor the management of our financial
risk, as well as budgetary and treasury policy.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The current members of
the Committee are Messrs. Victorio Carlos De Marchi (Chairman), Luis Felipe
Pedreira Dutra Leite and Roberto Moses Thompson Motta.&nbsp; The members of this
committee are elected by the Board of Directors. </FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Antitrust Compliance and Related Parties
Committee</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Antitrust
Compliance and Related Parties Committee&#8217;s responsibilities are to assist the
Board of Directors with the following matters:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">related party transactions;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">any general conflict of interest situations that may
arise between the Company and related parties;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">compliance, by the Company, with legal, regulatory and
statutory provisions concerning related party transactions;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">compliance, by the Company, with legal, regulatory and
statutory provisions concerning antitrust matters; and</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">other matters the Board of Directors may consider
relevant and in the interest of the Company.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">80</FONT></P></DIV>
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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The current members of the Antitrust Compliance and Related Parties Committee are Messrs. Victorio Carlos De Marchi (Chairman), Jos&#233; Heitor Attilio Gracioso, &#193;lvaro Ant&#244;nio Cardoso de Souza, Bol&#237;var Moura Rocha and Everardo de Almeida Maciel.&nbsp; The members of this committee are elected by the Board of Directors.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Differences Between United States and Brazilian Corporate Governance Practices</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In November 2003, the SEC approved corporate governance rules that had been adopted by the NYSE pursuant to the Sarbanes-Oxley Act of 2002.&nbsp; According to those governance rules, foreign private issuers that are listed on the NYSE must disclose the significant differences between their corporate governance practices and those required by the NYSE&#8217;s regulations for U.S. companies.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In November 2016, the Brazilian Corporate Governance Code, which provides for corporate governance practices guidelines for publicly-held companies, was released by an institution formed by several entities, such as ABRAPP, ABRASCA, ANBIMA, ABVCAP, AMEC, APIMEC, B3, BRAIN, IBGC, IBRI and Instituto IBMEC, after the contribution and comments made by the CVM. In June 2017, the CVM approved a new rule, which establishes that companies must inform whether they will implement the provisions set forth in the Brazilian Corporate Governance Code, or otherwise justify the reasons for non-compliance with such practices.&nbsp; Additionally, the B3 and the IBGC-Brazilian Institute of Corporate Governance have issued guidelines for corporate governance best practices.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The principal differences between the NYSE corporate governance standards and our corporate governance practices are as follows: </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Independence of Directors and Independence Tests</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NYSE corporate governance standards require listed companies to have a majority of independent directors and set forth the principles by which a listed company can determine whether a director is independent. &#8220;Controlled companies,&#8221; such as Ambev, need not to comply with these requirements.&nbsp; Nonetheless, our bylaws require that at least two of our directors be independent.&nbsp; In addition, our bylaws set forth that directors elected by a separate ballot vote of minority shareholders holding at least 10% of our capital stock shall be deemed independent.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As of the date of this annual report on Form 20-F, all of our directors, including the independent ones, had been appointed by our controlling shareholders.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Brazilian Corporation Law and the CVM establish rules in relation to certain qualification requirements and restrictions, compensation, duties and responsibilities of a company&#8217;s officers and directors.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Executive Sessions</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NYSE corporate governance standards require non-management directors of a listed company to meet at regularly scheduled executive sessions without management.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to the Brazilian Corporation Law, up to one-third of the members of the Board of Directors can also hold executive officer positions.&nbsp; However, none of our directors holds an executive officer position in us at this time and, accordingly, we believe we would be in compliance with this NYSE corporate governance standard if we were a U.S. company.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Nominating/Corporate Governance and Compensation Committees</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NYSE corporate governance standards require that a listed company have a nominating/corporate governance committee and a compensation committee each composed entirely of independent directors with a written charter that addresses certain duties.&nbsp; &#8220;Controlled companies&#8221; such as Ambev need not to comply with this requirement.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition, we are not required under the Brazilian Corporation Law to have, and accordingly we do not have, a nominating committee or corporate governance committee.&nbsp; According to the Brazilian Corporation Law, Board committees may not have any specific authority or mandate since the exclusive duties of the full Board of </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Directors may not be delegated.&nbsp; The role of the corporate governance committee is generally performed by either our Board of Directors or our executive officers.</FONT></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">81</FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Audit Committee and Audit Committee Additional Requirements</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NYSE corporate governance standards require that a listed company have an audit committee composed of a minimum of three independent members that satisfy the independence requirements of Rule 10A-3 under the Exchange Act, with a written charter that addresses certain duties.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We maintain a permanent Fiscal Council, which is a body contemplated by the Brazilian Corporation Law that operates independently from our management and from our registered independent public accounting firm.&nbsp; Its principal function is to examine the annual and quarterly financial statements and provide a formal report to our shareholders.&nbsp; We are relying on the exemption provided by Rule 10A-3(c)(3) and believe that our reliance on this exemption will not materially affect the ability of the Fiscal Council to act independently and to satisfy the other requirements of Rule 10A-3.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Shareholder Approval of Equity Compensation Plans</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NYSE corporate governance standards require that shareholders of a listed company must be given the opportunity to vote on all equity compensation plans and material revisions thereto, subject to certain exceptions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under Brazilian Corporation Law, shareholder pre-approval is required for the adoption and revision of any equity compensation plans. Our existing stock ownership and share based payment plans were approved by our extraordinary general shareholders&#8217; meetings held on July 30, 2013 and on April 29, 2016, respectively. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Corporate Governance Guidelines</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NYSE corporate governance standards require that a listed company must adopt and disclose corporate governance guidelines that address certain minimum specified standards, which include, director qualification standards, director responsibilities, director access to management and independent advisors, director compensation, director orientation and continuing education, management succession and annual performance evaluation of the Board.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We believe the corporate governance guidelines applicable to us under the Brazilian Corporation Law are consistent with the guidelines established by the NYSE.&nbsp; We have adopted and observe our Manual on Disclosure and Use of Information and Policies for Trading with Securities issued by Ambev which deals with the public disclosure of all relevant information as per CVM&#8217;s guidelines, as well as with rules relating to transactions involving the dealing by our management and controlling shareholders in our securities.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Code of Business Conduct</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NYSE corporate governance standards require that a listed company must adopt and disclose a code of business conduct and ethics for directors, officers and employees and promptly disclose any waivers of the code for directors or officers. Each code of business conduct and ethics should address the following matters: (1) conflicts of interest; (2) corporate opportunities; (3) confidentiality; (4) fair dealing; (5) protection and proper use of company assets; (6) compliance with laws, rules and regulations (including insider trading laws); and (7) encouraging the reporting of any illegal or unethical behavior.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have adopted a Code of Business Conduct that applies to all directors, officers and employees. Our code of business conduct is available on our website at ir.ambev.com.br. The information included on our website or that might be accessed through our website is not included in this annual report and is not incorporated into this annual report by reference. There are no waivers to our Code of Business Conduct. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Certification Requirements</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NYSE corporate governance standards require that each listed company&#8217;s chief executive officer certify to the NYSE each year that he or she is not aware of any violation by the company of the NYSE corporate governance standards.</FONT></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">82</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As required by Section 303A.12(b) of the NYSE corporate governance standards, our Chief Executive Officer will promptly notify the NYSE in writing after our executive officer becomes aware of any material non-compliance with any applicable provisions of the NYSE corporate governance standards.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Employees</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As of December 31, 2017, we and our subsidiaries had a total of 51,432 employees, approximately 54% of whom were engaged in production, 40% in sales and distribution and 6% in administration. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following table sets forth the total number of our employees as of the end of the periods indicated:</FONT></P>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="34%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="33%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="33%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2015</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="34%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">51,432</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="33%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">53,250</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="33%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">52,738</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following table shows the geographical distribution of our employees as of December 31, 2017:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%" colSpan=2>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Geographical Distribution of Ambev Employees as of December 31, 2017</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="86%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Location</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="14%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Number of Employees</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="86%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America North</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">38,651</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="86%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazil</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">31,537</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="86%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Dominican Republic</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,982</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="86%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cuba</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">859</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="86%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Guatemala</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">229</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="86%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Panama</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2,044</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="86%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Latin America South</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9,120</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="86%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Argentina</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5,741</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="86%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Bolivia</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,643</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="86%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Uruguay</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">732</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="86%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Paraguay</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">546</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="86%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt 7.2pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Chile</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="14%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">458</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="86%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Canada</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,661</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="86%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="14%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">51,432</FONT></B></P></DIV></TD></TR></TABLE></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Industrial Relations</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">All of our employees in Brazil are represented by labor unions, but only less than 5% of our employees in Brazil are actually members of labor unions.&nbsp; The number of administrative and distribution employees who are members of labor unions is not significant.&nbsp; Salary negotiations are conducted annually between the workers&#8217; unions and us.&nbsp; Collective bargaining agreements are negotiated separately for each facility or distribution center.&nbsp; Our Brazilian collective bargaining agreements have a one- or two-year term, and we usually enter into new collective bargaining agreements on or prior to the expiration of the existing agreements.&nbsp; We conduct salary negotiations with labor unions in accordance with local law for our employees located in our CAC, Latin America South and Canadian operations.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Health and Severance Benefits</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition to wages, our employees receive additional benefits.&nbsp; Some of these benefits are mandatory under Brazilian law, some are provided for in collective bargaining agreements and others are voluntarily granted.&nbsp; The benefits packages of our employees in Brazil consist of benefits provided both directly by the Company and through FAHZ, which provides medical, dental, educational and social assistance to current and retired employees of Ambev and their beneficiaries and covered dependents, either for free or at a reduced cost.&nbsp; We may voluntarily contribute up to 10% of our consolidated net income towards the support of FAHZ in connection with these benefits, as determined pursuant to the Brazilian Corporation Law and our bylaws.</FONT></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">83</FONT></P></DIV>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_93></A>
<a name="_bclPageBorder93"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are required to
contribute 8% of each Brazilian employee&#8217;s monthly gross pay to an account
maintained in the employee&#8217;s name with the Brazilian government&#8217;s Severance
Indemnity Fund (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Fundo de Garantia por Tempo de Servi&#231;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">), or the FGTS.&nbsp;
Under Brazilian law, we are also required to pay termination benefits to
Brazilian employees dismissed without cause equal to 40% (plus 10% to the
Brazilian government) of the accumulated contributions made by us to the
terminated employee&#8217;s FGTS account throughout the employee&#8217;s period of service,
among other mandatory termination fees.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We provide health and
benefits in accordance with local law for our employees located in our CAC,
Latin America South and Canadian operations.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Share Ownership</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following table
shows the amount and percentage of our shares held by members of our Board of
Directors and by executive officers as of March 6, 2018: </FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="83%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Name</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Amount and Percentage of Common
      Shares</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Victorio Carlos
      De Marchi(1)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Carlos Alves de
      Brito</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Milton
      Seligman</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Roberto Moses
      Thompson Motta</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Jos&#233; Heitor
      Att&#237;lio Gracioso(1)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Vicente Falconi
      Campos</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Luis Felipe Pedreira Dutra
      Leite</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Cec&#237;lia
      Sicupira</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT style="FONT-SIZE: 10pt" face="Times New Roman">&#193;lvaro Antonio Cardoso de
      Souza</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Antonio Carlos Augusto
      Ribeiro Bonchristiano</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Marcos de Barros
      Lisboa</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Michel Dimitrios
      Doukeris</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Nelson Jos&#233;
    Jamel</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Bernardo Pinto
      Paiva(1)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pedro de Abreu
      Mariani</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">F&#225;bio Vieira
      Kapitanovas</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Mauricio
      Soufen</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Paula Nogueira
      Lindenberg</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Ricardo Rittes de Oliveira
      Silva</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Ricardo Morais
      de Melo</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT style="FONT-SIZE: 10pt" face="Times New Roman">Eduardo Braga Cavalcante de
      Lacerda</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Daniel
      Cocenzo</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Marcelo
      Guimar&#227;es Tardin(2)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Fernando
      Maffessoni(3)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="83%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Rodrigo
      Figueiredo de Souza</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">*</FONT></P></TD></TR></TABLE></DIV>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">
<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: justify; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicates that the
individual holds less than 1% of the class of securities.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">These Board members are also
trustees of FAHZ.&nbsp; For information regarding the shareholdings of FAHZ in
Ambev, see &#8220;Item 7. Major Shareholders and Related Party Transactions&#8212;A. Major
Shareholders&#8212;Ambev&#8217;s Major Shareholders.&#8221; </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Mr. Tardin&#8217;s term as an officer
will end on March 31, 2018.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(3)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Mr. Maffessoni&#8217;s term as an
officer will commence on April 1, 2018, and accordingly, he was not an officer
as of December 31, 2017.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name=_Toc506645686></A></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">84</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_94></A>
<a name="_bclPageBorder94"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Major Shareholders </FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Introduction </FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Ambev has only one
class of shares (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">i.e</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, voting common shares), including in the form of ADSs
(evidenced by ADRs), with each ADS representing one Ambev common share.&nbsp;
The Ambev common shares and ADSs are registered under the Exchange Act.&nbsp; As
of March 6, 2018, Ambev had 15,711,205,090 shares outstanding.&nbsp; As of March
6, 2018, there were 1,253,690,208 Ambev ADSs outstanding (representing
1,253,690,208 Ambev shares, which corresponds to 8% of the total Ambev shares
outstanding).&nbsp; The Ambev shares held in the form of ADSs under the Ambev
ADS facilities are deemed to be the shares held in the &#8220;host country&#8221;
(</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">i.e</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, the United States) for purposes of the Exchange
Act.&nbsp; In addition, as of March 6, 2018, there were 121 registered holders
of Ambev ADSs. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">On May 16, 2017, our
board of directors authorized us or our subsidiaries to enter into equity swap
transactions, or Equity Swap Agreements, with an exposure of up to 80 million
common shares (which may be, partially or totally, referenced in ADRs), limited
to R$2.3 billion. Such Equity Swap Agreements have to be liquidated within 18
months from our board of directors&#8217; approval. In addition, on December 21, 2017,
our board of directors authorized us or our subsidiaries to enter into new
equity swap transactions, or New Swap Agreements, without prejudice of the
regular liquidation. The New Swap Agreements may cause an exposure of up to 44
million common shares (which may be, partially or totally, referenced in ADRs),
limited to R$820 million. The New Swap Agreements considered together with the
outstanding balance of the Equity Swap Agreements to be liquidated do not reach
the threshold set forth in CVM Instruction No. 567/15.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Control </FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our two direct
controlling shareholders, IIBV and AmBrew, both of which are subsidiaries of
ABI, together with FAHZ, held in aggregate 72.1% our total and voting capital
stock (excluding treasury shares) as of March 6, 2018. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">ABI indirectly holds
shares in us representing 61.9% of our total and voting capital stock (excluding
treasury shares) as of March 6, 2018.&nbsp; ABI thus has control over us, even
though (1) ABI remains subject to the Ambev Shareholders&#8217; Agreement and (2) ABI
is controlled by Stichting that represents an important part of interests of BRC
and the Interbrew Founding Families. For further information on these matters
see &#8220;Item 4. Information on the Company&#8212;A. History and Development of the
Company&#8212;The InBev-Ambev Transactions&#8221; and &#8220;&#8212;Ambev&#8217;s Major Shareholders&#8212;Ambev
Shareholders&#8217; Agreement.&#8221; </FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Share
Buyback Program</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In 2018, as of March
6, 2018, we acquired 616,587 Ambev shares in connection with preemptive rights
related to stock ownership plans at a total cost of R$13.9 million.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In 2017, we acquired
7,830,472 Ambev shares in connection with preemptive rights related to stock
ownership plans at a total cost of R$141.9 million. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In 2016, we acquired
3,196,848 Ambev shares in connection with preemptive rights related to stock
ownership plans at a total cost of R$59.4 million. On April 24, 2016, we
terminated our share buyback program that we had commenced on August 28,
2015.&nbsp; Over the course of this share buyback program, we repurchased
5,454,202 common shares at market price at the time of acquisition in the total
amount of R$102.9 million. The repurchased shares were held in treasury for
cancellation and/or subsequent disposition.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In 2015, we had
acquired 48,949,937 Ambev shares in connection with preemptive rights related to
stock ownership plans at a total cost of R$928.1 million.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For a further
description of our share buyback programs, see &#8220;Item 16E. Purchases of Equity
Securities by the Issuer and Affiliated Purchasers.&#8221;</FONT></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">85</FONT></P></DIV>
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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Ambev&#8217;s Major Shareholders</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following table sets forth information as of March 6, 2018, with respect to any person known to us to be the beneficial owner of 5% or more of our outstanding shares:</FONT></P>

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   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Shareholder</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%" colSpan=2>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Amount and Percentage <BR>of Common Shares</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Bank of New York Mellon &#8211; ADR Department(1)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;1,253,690,208</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.0%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Interbrew International B.V</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8,441,956,047</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">53.7%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">AmBrew S.A</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,285,261,445</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.2%</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">FAHZ(2)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,605,713,901</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">10.2%</FONT></P></TD></TR></TABLE></DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Represents the number of shares held in the form of ADSs.&nbsp; The Bank of New York Mellon is the depositary of Ambev shares in accordance with the deposit agreement entered into with Ambev and the owners of Ambev ADSs.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Messrs. Vict&#243;rio Carlos De Marchi and Jos&#233; Heitor Att&#237;lio Gracioso, who are FAHZ-appointed directors of Ambev, are also trustees of FAHZ.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For a description of our major shareholders&#8217; voting rights, see &#8220;&#8212;Ambev Shareholders&#8217; Agreement.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Ambev Shareholders&#8217; Agreement </FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">On April 16, 2013, ABI (through IIBV and AmBrew) and FAHZ executed a shareholders&#8217; agreement to be applicable to Ambev, or the Ambev Shareholders&#8217; Agreement.&nbsp; The Ambev Shareholders&#8217; Agreement will be effective up to and including July 1, 2019, and will be replaced by a new shareholders&#8217; agreement, or the 2019 Shareholders&#8217; Agreement, to be effective starting on July 2, 2019, as long as at that time FAHZ holds at least 1,501,432,405 Ambev common shares, adjusted for any future share dividends, stock-splits and reverse stock-splits (see &#8220;&#8212;The 2019 Shareholders&#8217; Agreement&#8221;).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The parties to the Ambev Shareholders&#8217; Agreement are IIBV and AmBrew, which represent ABI&#8217;s beneficial interest in Ambev, and FAHZ, as well as Ambev, as intervening party, and ABI, as intervening third-party beneficiary.&nbsp; Among other matters, the Ambev Shareholders&#8217; Agreement governs the voting of the Ambev common shares subject to the agreement and the voting by Ambev of the shares of its majority-owned subsidiaries.&nbsp; The following discussion relates to the Ambev Shareholders&#8217; Agreement.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Management of Ambev</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Although each Ambev common share entitles its holder to one vote in connection with the election of Ambev&#8217;s Board of Directors, Ambev&#8217;s direct controlling shareholders (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">i.e</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, FAHZ, IIBV and AmBrew) have the ability to elect the majority of Ambev&#8217;s directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">If cumulative voting is exercised together with the separate ballot vote of minority shareholders, thereby resulting in the number of directors so elected being equal to or greater than the number of directors elected by Ambev&#8217;s controlling shareholders, those controlling shareholders are entitled to elect the same number of Board members elected by minority shareholders plus one additional director, regardless of the maximum number of directors provided for in Ambev&#8217;s bylaws.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Presently, under the Ambev Shareholders&#8217; Agreement each of FAHZ, IIBV and AmBrew are represented on the Board of Directors of Ambev and its majority-owned subsidiaries and, in addition to the members and respective alternates that they are entitled to appoint, each of FAHZ, on the one hand, and IIBV and AmBrew, on the other, may appoint up to two observers without voting rights to attend Ambev&#8217;s Board meetings.&nbsp; The Boards of Directors of Ambev and its majority-owned subsidiaries are to be composed of at least three and no more than 15 regular members and the same number of alternates, with a term of office of three years with reelection being permitted.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">FAHZ will have the right to appoint four directors and their respective alternates to the Boards of Directors of Ambev and its majority-owned subsidiaries, as long as it maintains ownership of at least 1,501,432,405 Ambev common shares (adjusted for any future share dividends, stock-splits and reverse stock-splits).&nbsp; FAHZ held </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,501,432,405 Ambev common shares immediately after the Old Ambev-Ambev S.A. stock swap merger approved in July 2013.&nbsp; Under the Ambev Shareholders&#8217; Agreement, FAHZ is not entitled to appoint more than four members to Ambev&#8217;s Board of Directors in the event that its holding of Ambev common shares increases.&nbsp; FAHZ will always be entitled to appoint at least one member to Ambev&#8217;s Board of Directors, as long as it holds a minimum of 10% of the Ambev common shares.&nbsp; IIBV and AmBrew have the right to appoint members and respective alternates to the Boards of Directors of Ambev and its majority-owned subsidiaries in a number proportionate to the number of members appointed by FAHZ.&nbsp; Such proportion is based on the ratio between FAHZ&#8217;s holding and the joint holding of IIBV and AmBrew in the Ambev common shares.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">86</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Ambev Shareholders&#8217; Agreement provides that Ambev will have two Co-Chairmen with identical rights and duties, with one being appointed by FAHZ and the other jointly by IIBV and AmBrew.&nbsp; In the event of a deadlock, neither of the Co-Chairmen has a deciding vote on matters submitted to Ambev&#8217;s Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Each of FAHZ, IIBV and AmBrew may remove a director that it has appointed to the Board of Directors of Ambev or its majority-owned subsidiaries, and each also has the right to appoint the respective replacement or a new alternate, if the originally appointed alternate is confirmed for the vacant position.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Ambev Shareholders&#8217; Agreement establishes that the shareholders may, by consensus, establish committees of the Board with the purpose of looking into specific matters, the analyses of which require that their members have specific technical knowledge.&nbsp; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Preliminary Meetings and Exercise of Voting Right</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">On matters submitted to a vote of the shareholders or their representatives on the Board of Directors of Ambev or its majority-owned subsidiaries, FAHZ, IIBV and AmBrew have agreed to endeavor to first reach a consensus with respect to voting their common shares of each of Ambev and its majority-owned subsidiaries, and have agreed on the manner to direct their representatives to vote on the matter being submitted.&nbsp; The Ambev Shareholders&#8217; Agreement provides that the parties shall hold a preliminary meeting in advance of all meetings of shareholders or the Board of Directors of Ambev or of its majority-owned subsidiaries, with the purpose of discussing and determining a consensus position to be taken by the parties in such meetings.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">If the parties fail to reach a consensus with respect to a particular matter, the position to be adopted by the parties to the Ambev Shareholders&#8217; Agreement will be determined by the shareholders or group of shareholders holding a majority of the Ambev common shares, which currently is constituted of IIBV and AmBrew.&nbsp; However, this rule does not apply in connection with the election of members of the Board of Directors, as described above under &#8220;&#8212;Management of Ambev,&#8221; and with respect to matters that require unanimous approval by FAHZ, IIBV and AmBrew, as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">any amendment to the bylaws of Ambev and/or any of its majority-owned subsidiaries with the purpose of amending:&nbsp; (1) the corporate purpose, (2) the term of duration, and/or (3) the composition, powers and duties of management bodies;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the approval of the annual investment budget of Ambev and/or any of its majority-owned subsidiaries when the amount of the investments exceeds 8.7% of the net sales of Ambev foreseen for the same fiscal year;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the designation, dismissal and substitution of the Chief Executive Officer (Diretor Geral) of Ambev;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the approval of, or amendment to, the compensation policy for the Board of Directors and the executive officers of Ambev, as well as of its majority-owned subsidiaries;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the approval of stock ownership plans for the directors, executive officers and employees of Ambev and/or its majority-owned subsidiaries;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">a change in the dividend policy of Ambev and/or any of its majority-owned subsidiaries;</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">increases in the capital of Ambev and/or any of its
majority-owned subsidiaries, with or without preemptive rights, through
subscription, creation of a new share class, or changes in the characteristics
of existing shares, as well as decreases of capital, issuances of debentures
(whether or not convertible into shares), warrants and the creation of founders&#8217;
shares by Ambev and/or any of its majority-owned subsidiaries, except when such
legal businesses are carried out between Ambev and its majority-owned
subsidiaries or between the majority-owned subsidiaries;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">amalgamations, spin-offs, transformations, mergers,
acquisitions, and divestments involving Ambev and/or any of its majority-owned
subsidiaries, in the latter case (1) when such transaction involves a company
that is not a subsidiary, directly or indirectly, of Ambev and (2) provided that
the transaction in question results in the reduction in the average dividend
paid by Ambev in the past five years, adjusted by the General Market Price
Inflation Index (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">&#205;ndice Geral de Pre&#231;os ao
Mercado</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">), or the IGP-M index, published by the Getulio Vargas
Foundation (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Funda&#231;&#227;o Getulio Vargas</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">) as of the date
of payment;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the creation, acquisition, assignment, transfer,
establishment of an encumbrance on and/or disposal of shares, quotas and/or any
securities issued by any of Ambev&#8217;s majority-owned subsidiaries, under any title
or form, except for the benefit of Ambev and/or another subsidiary;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the incurrence by Ambev and/or any of its majority-owned
subsidiaries of a debt transaction that results in a net debt/equity ratio
greater than 1.5:1;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the execution, amendment, termination, renewal or
cancellation of any contracts, agreements or the like involving the registered
or deposited trademarks of Ambev or its majority-owned subsidiaries;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the extension of loans or the offer of guarantees of any
kind by Ambev and/or any of its majority-owned subsidiaries to any third party
in an amount greater than 1% of Ambev&#8217;s shareholders&#8217; equity as set forth in the
last audited balance sheet prepared in accordance with Brazilian GAAP, except in
favor of employees of Ambev and its majority-owned subsidiaries or in favor of
the majority-owned subsidiaries themselves;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the election of members to committees of Ambev&#8217;s Board of
Directors;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the cancellation of the registration of Ambev and/or any
of its majority-owned subsidiaries as publicly traded companies;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the execution of a petition for an arrangement with
creditors (recupera&#231;&#227;o judicial) or acknowledgment of bankruptcy by Ambev and/or
any of its majority-owned subsidiaries;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the liquidation or dissolution of Ambev and/or any of its
majority-owned subsidiaries; and</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the appointment of the external auditors of Ambev and/or
any of its majority-owned subsidiaries.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Ambev
Shareholders&#8217; Agreement provides that whenever the parties fail to reach a
consensus in a preliminary meeting as to any matter listed above, they will
exercise their voting rights so as not to approve such matter.&nbsp; The Ambev
Shareholders&#8217; Agreement provides that any votes cast by FAHZ, IIBV and AmBrew,
or by any of the directors appointed by each of them, in violation of the
provisions of the agreement will be deemed null, void and
ineffective.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">FAHZ, IIBV and AmBrew,
as well as any member appointed by them to the Board of Directors of Ambev or
any of its majority-owned subsidiaries, are not required to observe decisions
reached at preliminary meetings when deciding on the following
matters:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">analysis and approval of management accounts of Ambev and
its majority-owned subsidiaries;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">analysis and approval of the financial statements and
management reports of Ambev and its majority-owned subsidiaries;</FONT></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">88</FONT></P></DIV>
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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">any matters or actions typified as abuse of control, as set forth in the first paragraph of Section 117 of the Brazilian Corporation Law; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">actions and practices relating to management&#8217;s diligence, loyalty and other related duties, as established in Sections 153 to 158 of the Brazilian Corporation Law.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Transfer of Shares</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Ambev Shareholders&#8217; Agreement contains the following provisions concerning the transfer of the Ambev common shares subject to the agreement:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">FAHZ, IIBV and AmBrew have agreed (1) not to dispose of their Ambev common shares, directly or indirectly, during the term of the agreement, whether through private trades, on the stock market or on the over-the-counter market, including by way of tender offers, either voluntary or mandatory, except as permitted in Section VI of the Ambev Shareholders&#8217; Agreement and (2) not to create any type of encumbrance on their Ambev common shares, in either of the above cases without the prior written consent of FAHZ, in the case of IIBV and AmBrew, and of IIBV and AmBrew, in the case of FAHZ;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">if the Ambev common shares owned by FAHZ, on the one hand, and by IIBV and AmBrew, on the other, become subject to seizure, attachment, judicial surety or any other restrictive measure, and such restriction is not lifted or waived within 30 days after its imposition, the shares subject to the restriction shall be automatically deemed offered for sale to the other party.&nbsp; The price for the relevant Ambev common shares will be the lesser of either (1) the book value per Ambev common share, as per the latest audited balance sheet of Ambev adjusted by the IGP-M index from the date the restrictive measure is imposed until the date a petition is filed to require that the restriction be lifted or waived or (2) the average quoted market price of the Ambev common shares on stock exchanges in the 20-day period prior to the petition for lifting or waiving the restriction, provided that the Ambev common shares were traded during such period.&nbsp; If the obligations in respect of such restriction exceed the above-mentioned price, the party whose shares have been subject to the restriction will be liable for the difference that the other party may be required to deposit in order to acquire the relevant Ambev common shares.&nbsp; If the obligations in respect of such restriction were lower than the price for the Ambev common shares as described above, then the party whose shares have been subject to the restriction will be entitled to receive the difference between the price for the Ambev common shares and the obligations in respect of such restriction; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">if either FAHZ, on the one hand, and IIBV or AmBrew, on the other, does not exercise its subscription rights relating to Ambev common shares it holds, then each such party must first offer such rights to the other party at market value, which such other party will then decide, within the following 10 days, on whether to exercise its right of first refusal to subscribe the new shares to be issued.&nbsp; If such other party elects not to acquire the subscription right offered, then the offering shareholder may dispose of its subscription rights to third parties.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Ambev Shareholders&#8217; Agreement provides that any transfer of shares or subscription rights or creation of encumbrances in which the foregoing provisions on rights of first refusal are not observed will be deemed null, void and ineffective.&nbsp; Ambev&#8217;s management is also prohibited from reflecting any such events in its corporate books, as permitted by the Brazilian Corporation Law.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Specific Performance</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The obligations of the parties under the Ambev Shareholders&#8217; Agreement will be subject to specific performance under applicable Brazilian law.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">The 2019 Shareholders&#8217; Agreement</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The 2019 Shareholders&#8217; Agreement was executed on April 16, 2013 by IIBV, AmBrew and FAHZ, as well as Ambev, as intervening party.&nbsp; It will become effective on July 2, 2019, as long as at that time FAHZ holds at least 1,501,432,405 Ambev common shares, adjusted for any future share dividends, stock-splits and reverse stock-splits.&nbsp; </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">After becoming effective, the 2019 Shareholders&#8217; Agreement will be terminated at any time upon FAHZ ceasing to hold at least 1,501,432,405 Ambev common shares (adjusted for any future share dividends, stock-splits and reverse stock-splits) or if FAHZ decides to early terminate it.&nbsp; Among other matters, the 2019 Shareholders&#8217; Agreement governs the voting of the Ambev common shares subject to the agreement and the voting by Ambev of the shares of its majority-owned subsidiaries. </FONT></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">89</FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Management of Ambev</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The 2019 Shareholders&#8217; Agreement establishes that Ambev will be managed by a Board of Directors and by an Executive Committee.&nbsp; Ambev&#8217;s Board of Directors will no longer be chaired by two Co-Chairmen.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under the 2019 Shareholders&#8217; Agreement, FAHZ will be entitled to appoint two directors and their respective alternates to the Board of Directors of Ambev, provided that it holds at least 1,501,432,405 Ambev common shares (adjusted for any future share dividends, stock-splits and reverse stock-splits).&nbsp; One of the FAHZ-appointed directors shall have the right to also be appointed as a member of Ambev&#8217;s Operations, Finance and Compensation Committee and of the Antitrust Compliance and Related Parties Committee, as well as any other committee that may be established by Ambev&#8217;s Board of Directors.&nbsp; Furthermore, the shareholders shall use their best efforts to allow one of the FAHZ-appointed directors to participate as an observer in meetings of Ambev&#8217;s Fiscal Council, whenever such body is installed in lieu of the audit committee required by the Sarbanes-Oxley Act of 2002.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">FAHZ may remove a director that it has appointed to the Board of Directors of Ambev, and also has the right to appoint the respective replacement or a new alternate, if the originally appointed alternate is confirmed for the vacant position.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The foregoing provisions of the 2019 Shareholders&#8217; Agreement regarding Ambev&#8217;s management bodies do not apply to the management bodies of Ambev&#8217;s majority-owned subsidiaries.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Preliminary Meetings and Exercise of Voting Rights</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The 2019 Shareholders&#8217; Agreement replicates the provisions of the Ambev Shareholders&#8217; Agreement concerning preliminary meetings, including the need for consensus between FAHZ, IIBV and AmBrew, and applicable procedures when consensus is not reached, in respect to matters that will be resolved at shareholders&#8217; or Board of Directors meetings of Ambev and its majority-owned subsidiaries. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">If the parties fail to reach a consensus with respect to a particular matter, the position to be adopted by the parties to the 2019 Shareholders&#8217; Agreement will be determined by the shareholder or group of shareholders holding a majority of Ambev common shares.&nbsp; The following matters are not subject to the foregoing rule: (1) election of members to the Board of Directors or to any committee of the Board of Directors, which shall follow the specific election procedure described above under &#8220;&#8212;Management of Ambev&#8221; and (2) matters that require unanimous approval by FAHZ, IIBV and AmBrew, as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">any amendment to the bylaws of Ambev and/or any of its majority-owned subsidiaries with the purpose of changing: (1) the corporate purpose of those companies with a view to causing them to cease the production, commercialization and distribution of beverages, (2) the allocation of Ambev&#8217;s results of operations, as set forth in its bylaws, or other similar provisions in the bylaws of Ambev&#8217;s majority-owned subsidiaries that are meant to provide financial support to FAHZ, (3) the minimum mandatory dividend of 40% of Ambev&#8217;s adjusted net income, and/or (4) any other provision that affects FAHZ&#8217;s rights under the 2019 Shareholders&#8217; Agreement; and </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the transformation of Ambev into a different form of legal entity.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">FAHZ, IIBV and AmBrew, as well as any member appointed by them to the Board of Directors of Ambev or any of its majority-owned subsidiaries, are not required to observe decisions reached at preliminary meetings when deciding on the following matters:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">analysis and approval of management accounts of Ambev and its majority-owned subsidiaries;</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">analysis and approval of the financial statements and management reports of Ambev and its majority-owned subsidiaries;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">any matters or actions typified as abuse of control, as set forth in the first paragraph of Section 117 of the Brazilian Corporation Law; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">actions and practices relating to management&#8217;s diligence, loyalty and other related duties, as established in Sections 153 to 158 of the Brazilian Corporation Law.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Transfer of Shares</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The 2019 Shareholders&#8217; Agreement&#8217;s provisions regarding transfer of shares differ substantially from the equivalent provisions contained in the Ambev Shareholders&#8217; Agreement.&nbsp; Under the 2019 Shareholders&#8217; Agreement, the following rules shall apply:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">in the event of a transfer of Ambev common shares subject to the 2019 Shareholders&#8217; Agreement (1) by IIBV and/or AmBrew, where such transfer results in these entities jointly holding a total equity interest in Ambev represented by less than 50% plus one Ambev common share, and/or (2) by FAHZ upon making one and only one eligible transfer of at least 1,501,432,405 Ambev common shares (adjusted for any future share dividends, stock-splits and reverse stock-splits) to a single buyer and subject to the first offer obligations described below, then, in either of those cases, the Ambev common shares subject to those transfers shall remain bound by the 2019 Shareholders&#8217; Agreement.&nbsp; Only in those two cases shall a third party acquiring the Ambev common shares in those transfers be able to adhere to the 2019 Shareholders&#8217; Agreement in order for the transfer to be effective;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">at any time FAHZ may elect to release its Ambev common shares subject to the 2019 Shareholders&#8217; Agreement for the exclusive purpose of selling them in the stock market or over-the-counter market, provided that (1) it maintains at least 1,501,432,405 Ambev common shares (adjusted for any future share dividends, stock-splits and reverse stock-splits) subject to the 2019 Shareholders&#8217; Agreement, and (2) it observes the first offer obligations described below; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">in the event FAHZ intends to execute the above-referenced one and only one eligible transfer or release, it shall first offer the Ambev common shares to the remaining parties to the 2019 Shareholders&#8217; Agreement for their average quoted market price on the 20 trading sessions immediately prior to the date of the relevant first offer (or the last 40 trading sessions if no Ambev common shares were negotiated in at least half of the 20 immediately preceding trading sessions).&nbsp; The offerees will have five days, as of the first offer date, to accept or refuse the offer, and, if expressly or tacitly refused (or in the event the offerees fail to timely pay the applicable purchase price), then FAHZ may either proceed with such transfer or release its Ambev common shares from the 2019 Shareholders&#8217; Agreement and thereafter sell them to third parties within ten days.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Specific Performance</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The obligations of the parties under the 2019 Shareholders&#8217; Agreement will be subject to specific performance under applicable Brazilian law.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Related Party Transactions </FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Overview</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have executed and may in the future execute related party transaction with certain of our significant shareholders or other related parties and certain of their affiliates. These transactions include, but are not limited to: (i) the purchase and sale of raw material with affiliated entities, (ii) entering into distribution, cross-licensing, transfer pricing, indemnification, service and other agreements with affiliated entities, (iii) import agreements with affiliated entities, and (iv) royalty agreements with affiliated entities.&nbsp;&nbsp; These transactions have been entered into only on an arm&#8217;s length basis in accordance with our best interests and customary market practices at the time of their execution.&nbsp; In addition, the Antitrust Compliance and Related Parties Committee is responsible for assisting the </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Board in reviewing, analyzing and deciding on these transactions to help ensure that their terms are reasonable and that they comply with all applicable laws and regulations, as well as our corporate governance and best practices principles.&nbsp; See &#8220;Item 6. Directors, Senior Management and Employees&#8212;C. Board Practices&#8212;The Board of Directors&#8212;Antitrust Compliance and Related Parties Committee.&#8221;&nbsp; Set forth below is a discussion of our material related party transactions.&nbsp; For further information on our related party transactions, see note 33 to our audited consolidated financial statements.</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Ambev and FAHZ</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Medical, Dental and Social Assistance</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">One of the activities of FAHZ, as described in its bylaws, is to provide medical and dental assistance and other benefits both to active and certain of our retired employees and executive officers (including their dependents).</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Label Production</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have entered into a lease agreement with FAHZ, pursuant to which we have leased and are operating FAHZ&#8217;s assets used to produce our labels for R$63,328 for a period of ten years, maturing on March 31, 2018. &nbsp;We are currently renegotiating the extension of this agreement.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Lease on Commercial Properties</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have a lease of two commercial properties from FAHZ involving annual lease payments in the amount of R$3.3 million. This lease agreement is scheduled to expire in January 2020. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Ambev and ABI</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Licensing Agreements</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">See &#8220;Item 4. Information on the Company&#8212;B. Business Overview&#8212;Licenses&#8212;Licensing Agreements with ABI.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Special Goodwill Reserve</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt; FONT-STYLE: normal" color=windowtext face="Times New Roman"> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As a result of the merger of InBev Holding Brasil S.A., or InBev Brasil, into us in July 2005, we acquired tax benefits resulting from the partial amortization of the special premium reserve pursuant to article 7 of CVM Rule No. 319/99.&nbsp; Such amortization will be carried out within the next ten years following the merger.&nbsp; As permitted by CVM Rule No. 319/99, the Protocol and Justification of this merger, as entered into between ourselves, InBev Brasil and InBev N.V./S.A. (as ABI was then called) on July 7, 2005, established that 70% of the goodwill premium, which corresponded to the tax benefit resulting from the amortization of the tax goodwill derived from the merger, would be capitalized by us to the benefit of our controlling shareholder, with the remaining 30% being capitalized by us without the issuance of new shares to the benefit of all shareholders.&nbsp; Since 2005, pursuant to the Protocol and Justification of this merger, we have carried out, with shareholder approval, capital increases through the partial capitalization of the goodwill premium reserve.&nbsp; Accordingly, IIBV and AmBrew, which are subsidiaries of ABI, have subscribed shares corresponding to 70% of the goodwill premium reserve and our minority shareholders have been entitled to participate in these share issuances through the exercise of preemptive rights under the Brazilian Corporation Law. The remaining 30% of the tax benefit has been capitalized by us without issuance of new shares to the benefit of all shareholders.&nbsp; The Protocol and Justification of this merger also provides, among other matters, that ABI shall indemnify us for any undisclosed liabilities of InBev Brasil.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Transfer of Operations in Colombia, Peru, Ecuador and Panama </FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In May 2016, we entered into an agreement with ABI, pursuant to which we agreed to transfer to ABI our businesses in Colombia, Peru and Ecuador, in exchange for which ABI has agreed to transfer SAB&#8217;s Panamanian business to us. Other than post-closing debt and/or cash adjustments, the transaction did not involve any cash payments and involved an exchange of shares of the aforementioned entities. The transaction was conditioned on the successful closing of the SAB and ABI merger, which closed in the fourth quarter of 2016. As a result of this </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">transaction, on December 31, 2016, we ceased operations in Colombia, Peru and Ecuador and commenced operations in the beverages market of Panama.&nbsp; </FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Quilmes Perpetual Licensing Agreement</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In September 2017, we entered into an agreement with ABI, pursuant to which our subsidiary Cervecer&#237;a y Malter&#237;a Quilmes S.A., or Quilmes, agreed to transfer to a third-party, Compa&#241;ia Cervecer&#237;as Unidas S.A. or its affiliates, or CCU, certain Argentinean brands (Norte, Iguana and Baltica) and related business assets as well as payment of US$50 million. In exchange, ABI has agreed to transfer to Quilmes the brewery of Cerveceria Argentina Sociedad Anonima Isenbeck, an Argentinean subsidiary of ABI. In addition, at closing ABI will license to Quilmes in perpetuity the Budweiser brand, among other North American brands, in Argentina upon ABI&#8217;s recovery of the distribution rights to such brands from CCU. The closing of the transaction is subject to the analysis and validation by the Argentinean antitrust authority (Comisi&#243;n Nacional de Defensa de la Competencia) of the main documents that will be executed at the closing and other customary closing conditions. Rothschild acted as our exclusive financial advisor.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Ambev and Certain Shareholders (E. Le&#243;n Jimenes, S.A. or ELJ)</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In December 2017, E. Le&#243;n Jimenes, S.A., or ELJ, the other shareholder together with us in Tenedora CND, S.A., or Tenedora &#8211; a holding company incorporated in the Dominican Republic, owner of almost the totality of Cervecer&#237;a Nacional Dominicana, S.A. &#8211; partially exercised, in accordance with the shareholders&#8217; agreement of Tenedora, its put option in connection with shares representing 30% of Tenedora&#8217;s capital stock.&nbsp; The transaction was subject to certain conditions precedent and closed in January 2018.&nbsp; As a result of the partial exercise of such put option, we paid to ELJ the amount of US$926.5 million and became the owner of approximately 85% of Tenedora, with ELJ remaining with 15%. In addition, in light of the strategic importance of the alliance with ELJ, our Board of Directors approved amending from 2019 to 2022 the term for the call option granted by ELJ to us to become exercisable.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interests of Experts and Counsel</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not applicable.</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; FINANCIAL INFORMATION </FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consolidated Financial Statements and Other Financial Information</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Consolidated Financial Statements</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">See &#8220;Item 17. Financial Statements.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Legal Proceedings </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are subject to numerous claims with respect to tax, labor, civil and other matters (consisting of antitrust, environmental and other proceedings that do not fit in the other categories).&nbsp; Such proceedings involve inherent uncertainties including, but not limited to, as a result of court rulings, negotiations between affected parties and governmental actions, and, consequently, our management cannot at this stage estimate with certainty how and when these matters will be resolved.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">To the extent that we believe contingencies arising from these proceedings will probably be realized, they have been recorded in the balance sheet.&nbsp; Our provisions for legal contingencies were R$681.5 million as of December 31, 2017. We have estimated the total exposures of possible (but not probable) losses, which are not recorded as liabilities, to be R$60.5 billion as of December 31, 2017. Our estimates are based on reasonable assumptions and management assessments, but should the worst case scenario develop, subjecting us to losses in all cases classified as possible (but not probable), our net impact on our results of operations would be an expense for this amount.&nbsp; Except as set forth herein, there are no legal proceedings to which we are a party, or to which any of our properties are subject which, either individually or in the aggregate, may have a material adverse effect on our results of operations, liquidity or financial condition.&nbsp; For more information, see notes 26 and 30 to our audited consolidated financial statements.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Tax Matters</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As of December 31, 2017, we had several tax claims pending against us, including judicial and administrative proceedings.&nbsp; Most of these claims relate to ICMS Value-Added Tax, IPI Excise Tax, and income tax and social contributions.&nbsp; As of December 31, 2017, we had made provisions of R$383.3 million in connection with those tax proceedings for which we believe there is a probable chance of loss.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Among the pending tax claims, there are claims filed by us against Brazilian tax authorities alleging that certain taxes are unconstitutional.&nbsp; Such tax proceedings include claims for income taxes, ICMS Value-Added Tax, IPI Excise Tax and taxes on revenues, such as the Social Integration Program Contribution (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Programa de Integra&#231;&#227;o Social</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">), or the PIS Contribution and the Social Security Funding Contribution (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Contribui&#231;&#227;o para Financiamento da Seguridade Social</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">), or COFINS.&nbsp; As these claims are contingent on obtaining favorable judicial decisions, the corresponding assets which might arise in the future are only recorded once it becomes certain that we will receive the amounts previously paid or deposited.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As of December 31, 2017, we were party to tax proceedings with a total estimated possible risk of loss of R$56.2 billion. Approximately R$31.8 billion of this figure is related to controversies related to payment of income tax and social contribution, and approximately R$19.8 billion is related to controversies involving the payment of ICMS value-added and IPI Excise taxes. The most significant proceedings are discussed below. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">ICMS Value-Added Tax, IPI Excise Tax and Taxes on Net Sales</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have been party to legal proceedings with the State of Rio de Janeiro where we are challenging the state&#8217;s attempt to assess ICMS Value-Added Tax with respect to unconditional discounts granted by us from January 1996 to February 1998. In October 2015 and January 2016, we paid the amounts related to the State of Rio de Janeiro&#8217;s proceedings with discounts under an incentive tax payment program granted by such state in the total amount of approximately R$271.0 million. In 2013, 2014 and 2015, we received similar tax assessments issued by the States of Par&#225; and Piau&#237; relating to the same issue, which are currently under discussion. Our management estimates the amount involved in these proceedings to be approximately R$600 million as of December 31, 2017, </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reflecting the payments made in October 2015 and January 2016. We have classified this as a possible loss and, therefore, for which no provision has been made.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In Brazil, goods manufactured within the Manaus Free Trade Zone (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Zona Franca de Manaus</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">) intended for remittance elsewhere in Brazil are exempt from the IPI Excise Tax.&nbsp; We have been registering IPI Excise Tax presumed credits upon the acquisition of exempted inputs manufactured in the Manaus Free Trade Zone.&nbsp; Since 2009, we have been receiving a number of tax assessments from the RFB relating to the disallowance of such presumed IPI excise tax credits, which are under discussion before the Brazilian Supreme Court.&nbsp; Management estimates the possible losses in relation to these assessments to be R$3.2 billion as of December 31, 2017. We have not recorded any provision in connection with these assessments. See &#8220;Item 5. Operating and Financial Review and Prospects&#8212;B. Liquidity and Capital Resources&#8212;Sales Tax Deferrals and Other Tax Credits.&#8221; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition, over the years, we also received tax assessments from the Brazilian Federal Tax Authorities charging federal taxes that they considered unduly offset with the disallowed IPI excise tax credits which are under discussion in the above mentioned proceedings. We are currently challenging those charges in the courts. Our management estimates the possible losses related to these assessments to be approximately R$0.9 billion as of December 31, 2017. We have not recorded any provision in connection with these assessments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In 2014 and 2015, we received tax assessments from the RFB relating to IPI excise tax allegedly due over remittances of manufactured goods to other related factories, for which a decision from the Upper House of the Administrative Tax Court is still pending. Our management estimates the possible losses related to these assessments to be approximately R$1.5 billion as of December 31, 2017.&nbsp; We have not recorded any provision in connection with these assessments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Over the years, we have also received tax assessments relating to supposed ICMS differences considered due in the tax substitution system when the price of products sold by us reaches levels close to or above the fixed price table basis established by certain states in cases where tax authorities understand that the calculation basis should be based on a value-added percentage over the actual prices, not the fixed table price. Among other similar cases, we received three assessments issued by the State of Minas Gerais in the original amount of R$1.4 billion. In the second quarter of 2017, the Administrative Tax Court of the State of Minas Gerais issued a judgment in relation to these three matters in a manner unfavorable to us. &nbsp;We have appealed the decision and are currently awaiting judgement from the Upper House of the Administrative Tax Court of the State of Minas Gerais. In 2017, we also received assessments from the State of Rio de Janeiro in the amount of R$0.9 billion related to this same issue. &nbsp;We have presented defenses against such tax assessments and await judgment by the relevant administrative courts.&nbsp; Considering these new assessments and others received in 2017 also related to the application of the fixed price table compared to the value-added percentage method in calculating ICMS taxes, our management estimates the amount related to this issue to be approximately R$5.8 billion as of December 31, 2017, classified as a possible loss and, therefore, for which we have made no provision. &nbsp;We have recorded provisions in the total amount of R$6.7 million for proceedings where we consider the chances of loss to be probable considering specific procedural issues.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition to the above ICMS matters, we are currently challenging tax assessments issued by various Brazilian states, as described in the following section. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">State Tax Incentives of the National Council on Fiscal Policy (</FONT></B><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Conselho Nacional de Pol&#237;tica Fazend&#225;ria</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">),</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> or CONFAZ </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Many states in Brazil offer tax incentive programs to attract investments to their regions, pursuant to the rules of the CONFAZ, a council formed by the Treasury Secretaries from each of the 27 Brazilian states. We participate in ICMS value-added tax credit programs offered by various Brazilian states which provide (i) tax credits to offset ICMS value-added tax payables and (ii) ICMS value-added tax deferrals. In return, we are required to meet certain operational requirements, including, depending on the state, production volume and employment targets, among others. All of these conditions are included in specific agreements between us and the relevant state governments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As previously disclosed, there has in recent years been a controversy regarding whether these benefits are constitutional when granted without the prior approval of every Brazilian state participating in the CONFAZ. Some states and public prosecutors filed direct actions of unconstitutionality (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">A&#231;&#227;o Direta de Inconstitucionalidade</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">) </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">before the Brazilian Supreme Court to challenge the constitutionality of certain state laws granting tax incentive programs unilaterally, without the prior approval of the CONFAZ.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Since 2007, we have received tax assessments from various states, challenging the legality of tax credits arising from existing tax incentives received by us in other states. Our management estimates the possible losses related to these assessments to be approximately R$1.9 billion as of December 31, 2017.&nbsp; We have not recorded any provision in connection therewith.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In 2017, Supplementary Law No. 160 was published authorizing the states and the Federal District to revalidate within 180 days the tax benefits allegedly created without the approvals required under Brazilian tax laws and regulations by means of an Interstate Agreement. Under the provisions of the aforementioned Supplementary Law, Confaz Interstate Agreement No. 190 was published on December 18, 2017, allowing the states to republish and to reinstall the state tax benefits created up to August 8, 2017. The validation of such tax incentives, however, is not self-applicable and depends on the fulfillment of certain conditions by the granting state.&nbsp; We believe that the states will be able to comply with such conditions, except for the State of Amazonas that decided to not be a party to the Interstate Agreement. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In any case, we will continue to defend our position in those assessments, including those related to the State of Amazonas and those related to the states in which the conditions for validation were not satisfied. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Profits Generated Abroad</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">During 2005, certain of our subsidiaries received a number of assessments from Brazilian federal tax authorities relating to profits of our foreign subsidiaries. In December 2008, the Administrative Court decided on one of these tax assessments. &nbsp;This decision was partially favorable to us, and in connection with the remaining part, we filed an appeal to the Upper House of the Administrative Court, which was denied in full in March 2017. &nbsp;In September 2017, we filed a judicial proceeding for this tax assessment with a motion of injunction, which was decided in a manner favorable to us. In December 2013, 2016 and in October 2017, we received other tax assessments related to profits of our foreign subsidiaries. As of December 31, 2017, our management estimates the total amount involved in these matters classified as a possible risk of loss to be approximately R$6.1 billion and, therefore, for which we have not recorded a provision. &nbsp;We have recorded provisions of approximately R$44.2 million for proceedings where we consider the chance of loss to be probable.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Income Tax - Tax Loss Offset</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We and certain of our subsidiaries received a number of assessments from the RFB relating to the offset of tax loss carry forwards arising in the context of business combinations.&nbsp; In February 2016, the Upper House of the Administrative Tax Court reached a judgment for two such tax assessments on this matter. In both cases, the decision was unfavorable to us, and we promptly filed a judicial proceeding. In September 2016, we received a favorable first level decision in one of the judicial claims, and in March 2017, we received an unfavorable first level decision on the second judicial case and filed an appeal to the second instance Court. Our management estimates the total exposures of possible losses in relation to these assessments to be R$549.4 million as of December 31, 2017.&nbsp; We have not recorded any provision in connection with these disputes.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Special Goodwill Reserve</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In December 2011, we received a tax assessment from the RFB related to the goodwill amortization resulting from Inbev Brasil&#8217;s merger referred to under &#8220;Item 7. Major Shareholders and Related Party Transactions&#8212;B. Related Party Transactions&#8212;Ambev and ABI&#8212;Special Goodwill Reserve.&#8221;&nbsp; In June 2012 we filed an appeal against the unfavorable first level administrative decision. In November 2014, the lower Administrative Court rendered a partially favorable decision, and we presented a motion to clarify the decision to the Administrative Court.&nbsp; This motion was considered in September 2016, and we were notified of the clarified decision in January 2018. The Administrative Court&#8217;s decision was partially favorable to us. As a result, we filed a judicial proceeding to discuss the unfavorable part of the decision pursuant to which we were rewarded an injunction.&nbsp; The remaining unfavorable part will still be examined on the Administrative Upper Court. </FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In June 2016, we received a new tax assessment charging the remaining value of the goodwill amortization between 2011 to 2013, related to InBev Brazil&#8217;s merger with Ambev. In March 2017, we were notified of a partially favorable first level administrative decision on this tax assessment and filed an appeal to Lower Administrative Court. We have not recorded any provisions for this matter and our management estimates possible losses in relation to this assessment to be approximately R$8.3 billion as of December 31, 2017.&nbsp; In the event we are required to pay these amounts, ABI will reimburse us in the amount proportional to the benefit received by ABI pursuant to the merger protocol, as well as related costs. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In October 2013, we also received a tax assessment related to the goodwill amortization resulting from the merger of Beverage Associate Holding into us. We filed our defense in November 2013, and the Lower Administrative Tax Court issued an unfavorable decision against us in November 2014. In December 2014, Ambev filed an appeal against the unfavorable first level administrative decision published in November 2014. In March 2017, the Lower Administrative Court decided to send the case back to the first level administrative judgment due to procedural matters. In July 2017, we were notified of the new first level decision which was also unfavorable to us, and filed a new appeal to the Lower Administrative Court. We estimate the amount of possible losses in relation to this assessment to be approximately R$1.6 billion as of December 31, 2017. We have not recorded any provision in connection with this assessment. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In November 2017, we received a tax assessment related to the goodwill amortization resulting from the merger of CND Holdings into Ambev. We promptly filed a defense in December 2017 and await the first level administrative decision on this matter. Our management estimates the amount of possible losses in relation to this assessment to be approximately R$1.1 billion as of December 31, 2017. We have not recorded any provision in connection with this assessment. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Disallowance of Expenses and Deductibility of Losses</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In December 2014, we received a tax assessment from the RFB related to disallowance of alleged non-deductible expenses and certain loss deductions mainly associated with financial investments and loans, in the amount of approximately R$1.3 billion.&nbsp; Our defense was presented on January 28, 2015. In July 2016, we were notified of an unfavorable administrative first level decision and filed an appeal to the Lower Administrative Court. In August 2017, the Lower Administrative Court ruled favorably on our appeal, and, considering that the RFB forfeited its right to appeal that decision, the case was then finalized. In December 2015 and December 2016, we also received two new tax assessments related to the same matter. We estimate our exposure to possible losses in relation to these assessments to be approximately R$4.4 billion as of December 31, 2017. We have not recorded any provision in connection with those assessments. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Disallowance of Taxes Paid Abroad</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Since 2014, we have been receiving tax assessments from the RFB related to the disallowance of deductions associated with alleged unproven taxes paid abroad, for which the decision from the Upper House of the Administrative Tax Court is still pending. In September 2017, we opted to include part of these tax assessments in the Brazilian Federal Tax Regularization Program of the Provisional Measure No. 783 to settle part of this amount. &nbsp;See &#8220;Item 8. Consolidated Financial Statements and Other Financial Information&#8212;A. Tax Matters&#8212; Adherence to the Special Tax Regularization Program.&#8221;&nbsp; As of December 31, 2017, our management estimated the exposure of approximately R$7.2 billion as a possible risk, and accordingly we have not recorded a provision for such amount.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Presumed Profit</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In April 2016, our subsidiary Arosuco received a tax assessment regarding the use of presumed profit method for the calculation of income tax and the social contribution on net profit instead of the real profit method. In September 2017, Arosuco was notified of the unfavorable first level administrative decision and filed an appeal to the Administrative Court. Arosuco management estimates the amount of possible losses in relation to this assessment to be approximately R$616.1 million as of December 31, 2017.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In December 2016, our subsidiary CRBS received a tax assessment regarding the use of presumed profit method for the calculation of income tax and social contribution on net profit instead of the real profit method. In July 2017, CRBS was notified of the unfavorable first level administrative decision and filed an appeal to the </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Administrative Court. In September 2017, CRBS decided to participate in the Brazilian Federal Tax Regularization Program of the Provisional Measure No. 783 in relation to this matter following which CRBS estimates that there are no remaining contingency values related to this matter as of December 31, 2017.&nbsp; See &#8220;Item 8. Consolidated Financial Statements and Other Financial Information&#8212;A. Tax Matters&#8212; Adherence to the Special Tax Regularization Program.&#8221;</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Social Contributions</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We received a number of tax assessments issued by the Brazilian federal tax authorities relating to amounts allegedly due under Integration Program / Social Security Financing Levy (PIS/COFINS) over bonus products granted to our customers. These cases are now being discussed at the relevant administrative courts. Management estimates the possible losses related to these assessments to be approximately R$3.1 billion as of December 31, 2017. No related provision has been made.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Adherence to the Special Tax Regularization Program</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In September 2017, we decided to participate in the Federal Tax Amnesty Program established by Provisional Measure No. 783/2017, converted into Law No. 13,496/2017, or PERT 2017, undertaking to pay tax assessments that were in dispute under administrative or judicial level, including debts from our subsidiaries, in the total amount of R$3.5 billion (already considering discounts established by the program). &nbsp;The total amount paid in 2017 was approximately R$960.0million and the balance will be paid in 145 monthly installments, with interest, starting in January 2018. In order to benefit from this program, we were required to waive in advance any defense or rights in relation to existing administrative disputes involving the tax indebtedness. In this case, the debts being settled through the program are related to several discussions regarding income tax, social contributions and excise tax. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Despite our participation in this program, we could be subject to tax audits for subsequent periods, which may lead to additional tax challenges by the relevant authorities on similar claims. In addition, if we are delinquent in our payments under these programs or are otherwise unable to pay as scheduled, we may be barred from participating in this program and similar programs this.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Labor Matters </FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are involved in more than 25,000 labor claims. Most of the labor claims we face relate to our Brazilian operations.&nbsp; In Brazil, it is not unusual for a large company to be named as a defendant in such a significant number of claims.&nbsp; As of December 31, 2017, we made provisions totaling R$139.1 million in connection the above labor claims involving former, current and outsourced employees relating mainly to overtime, dismissals, severance, health and safety premiums, supplementary retirement benefits and other matters, all of which are awaiting judicial resolution and have probable chance of loss.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In connection with the labor matters, we are also involved in claims regarding the social charges on payroll. Management estimates the possible losses related to these claims to be, approximately, R$253 million as of December 31, 2017.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Civil Claims </FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As of December 31, 2017, we were involved in more than 9.000 civil claims that were pending, including third-party distributors and product-related claims. We have established provisions totaling R$26.5 million reflecting applicable adjustments, such as accrued interest, as of December 31, 2017 in connection with civil claims. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Subscription Warrants</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In 2002, we decided to request a ruling from the CVM in connection with a dispute between Old Ambev and some of its warrant holders regarding the criteria used in the calculation of the strike price of certain Old Ambev warrants.&nbsp; In March and April 2003, the CVM ruled that the criteria used by Old Ambev to calculate the strike price were correct.&nbsp; In response to the CVM&#8217;s final decision and seeking to reverse it, some of the warrant holders filed separate lawsuits before the courts of S&#227;o Paulo and Rio de Janeiro.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Although the warrants expired without being exercised, the warrant holders claim that the strike price should be reduced to take into account the strike price of certain stock options granted by Old Ambev under its then-existing stock ownership program, as well as for the strike price of other warrants issued in 1993 by Brahma.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are aware of at least seven claims in which the plaintiffs argue that they would be entitled to those rights. One of these cases was settled. Two of them were ruled favorably to us by the appellate court of the State of S&#227;o Paulo. Both decisions were confirmed by the Superior Court of Justice . The plaintiffs have appealed to the Special Court of the Superior Court of Justice (requests for reconsideration based on conflicting precedent) and such appeals are pending Of the four other claims, we received a favorable ruling in one claim by a first level court in Rio de Janeiro, and the appellate court of the State of Rio de Janeiro ruled against us in another three claims. We have appealed to the Brazilian Superior Court of Justice with respect to the final decisions issued by the appellate court of the State of Rio de Janeiro. In 2016, we received a favorable ruling in one of such appeals, to which the plaintiffs filed an appeal of their own. In 2017, the Superior Court of Justice ruled two of the appeals in our favor, and the plaintiffs also filed appeals against such decisions. All three cases ruled favorable to us are pending final judgment. In November 2017, the Federal Public Prosecutor filled a motion favorable to our position in one of the cases, and the remaining appeals are still pending judgment. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In the event the plaintiffs prevail in the above six pending proceedings, we believe that the corresponding economic dilution for the existing shareholders would be the difference between the market value of the shares at the time they are issued and the value ultimately established in liquidation proceedings as being the subscription price pursuant to the exercise of the warrants.&nbsp; We believe the warrants object of those six proceedings represented, on December 31, 2017, 172,831,574 Ambev common shares that would be issued at a value substantially below fair market value, should claimants ultimately prevail.&nbsp; The plaintiffs also claim they should receive past dividends related to these shares in the amount of R$846.9 million as of December 31, 2017. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Based on management assessments, our chances of receiving unfavorable final decisions in this matter are remote, and therefore we have not established a provision for this litigation in our audited consolidated financial statements.&nbsp; As these disputes are based on whether we should receive as a subscription price a lower price than the price that we consider correct, a provision of amounts with respect to these proceedings would only be applicable with respect to legal fees and past dividends.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Environmental Matters</FONT></I></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Riachuelo</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In 2004, an environmental complaint was initiated by certain neighbors residing in the Riachuelo Basin against the State of Argentina, the Province of Buenos Aires, the city of Buenos Aires and more than 40 corporate entities (including our Argentinean subsidiary) with premises located in the Riachuelo Basin or that discharge their waste into the Riachuelo River.&nbsp; In this complaint, the Argentine Supreme Court of Justice ruled that the State of Argentina, the Province of Buenos Aires and the city of Buenos Aires remain primarily responsible for the remediation of the environment, and further resolved that the Riachuelo Basin Authority, an environmental authority created in 2006 pursuant to the Argentine Law No. 26,168, would be responsible for the implementation of a Remediation Plan for the Riachuelo Basin.&nbsp; The Argentine Supreme Court of Justice also decided that any claim on damages should be initiated before a civil court. No further claims were initiated against our Argentinean subsidiary. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Lawsuit Against the Brazilian Beer Industry</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">On October 28, 2008, the Brazilian Federal Prosecutor&#8217;s Office (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Minist&#233;rio P&#250;blico Federal</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">) filed a suit for damages against us and two other brewing companies claiming total damages of approximately R$2.8 billion (of which approximately R$2.1 billion are claimed against us).&nbsp; The public prosecutor alleges that: (1) alcohol causes serious damage to individual and public health, and that beer is the most consumed alcoholic beverage in Brazil; (2) defendants have approximately 90% of the national beer market share and are responsible for heavy investments in advertising; and (3) the advertising campaigns increase not only the market share of the defendants but also the total consumption of alcohol and, hence, cause damage to society and encourage underage consumption.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Shortly after the above lawsuit was filed, a consumer-protection association applied to be admitted as a joint-plaintiff.&nbsp; The association has made further requests in addition to the ones made by the Public Prosecutor, </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">including the claim for &#8220;collective moral damages&#8221; in an amount to be ascertained by the court; however, it suggests that it should be equal to the initial request of R$2.8 billion (therefore, doubling the initial amount involved).&nbsp; The court has admitted the association as joint-plaintiff and has agreed to hear the new claims. After the exchange of written submissions and documentary evidence, the case was dismissed by the Lower Court Judge, which denied all the claims submitted against Ambev and the other defendants. The Prosecutor&#8217;s Office appealed to the Federal Court, but based on management assessments, we believe that our chances of loss are remote and, therefore, we have not made any provision with respect to such claim. </FONT></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">99</FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Class Action Canada (Brewers Retail Inc. Litigation)</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">On December 12, 2014, a lawsuit was commenced in the Ontario Superior Court of Justice against the Liquor Control Board of Ontario (LCBO), Brewers Retail Inc. (known as The Beer Store or &#8220;TBS&#8221;), and the owners of Brewers Retail Inc. (Molson Coors Canada, Sleeman Breweries Ltd. and Labatt Breweries of Canada LP (the &#8220;Brewers&#8221;).&nbsp; The lawsuit was brought in Canada pursuant to the Ontario Class Proceedings Act, which sought, among other things: (1) to obtain a declaration that the defendants conspired with each other to allocate markets for the supply of beer sold in Ontario since June 1, 2000; (2) to obtain a declaration that the Brewers conspired to fix, increase and/or maintain prices charged to Ontario licensees (on-trade) for beer and the fees charged by TBS to other competitive brewers who wished to sell their products through TBS; and (3) damages for unjust enrichment. As part of this third allegation, the plaintiffs allege illegal trade practices by the Brewers. They are seeking damages not exceeding C$1.4 billion (approximately R$3.7 billion); punitive, exemplary and aggravated damages of C$5 million (R$13.1 million); and changes/repeals of the affected legislation. We have not recorded any provision in connection therewith. A motion for summary judgment has been filed by the defendants and was heard by the Superior Court of Ontario in February 2018. A hearing related to the class certification and trial on the merits is not expected to be held before the end of 2018.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Dividend Policy </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The timing, frequency and amount of future dividend payments, if any, will depend upon various factors that our Board of Directors may consider relevant, including our earnings and financial condition.&nbsp; Our bylaws provide for a minimum mandatory dividend of 40% of our adjusted annual net income, if any, as determined under IFRS at our individual financial statements.&nbsp; Brazilian companies are permitted to make limited distributions to shareholders in the form of interest accrued on share capital, commonly referred to as &#8220;interest on shareholders&#8217; equity,&#8221; and treat such payments as a deductible financial expense for purposes of Brazilian income tax and social contribution on profits.&nbsp; This notional interest distribution is treated for accounting purposes as a deduction from shareholders&#8217; equity in a manner similar to a dividend.&nbsp; The benefit from the tax deductible interest on shareholders&#8217; equity is recorded in the income statement.&nbsp; The minimum mandatory dividend includes amounts paid as interest on shareholders&#8217; equity.&nbsp; However, payment of such interest on shareholders&#8217; equity is subject to Brazilian withholding income tax, whereas no such withholding is required in connection with dividends paid.&nbsp; For further information on this matter see &#8220;Item 10. Additional Information&#8212;E. Taxation&#8212;Brazilian Tax Considerations&#8212;Income Tax.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Annual adjusted net income not distributed as dividends or interest on shareholders&#8217; equity may be capitalized, used to absorb losses or otherwise appropriated as allowed under the Brazilian Corporation Law and our bylaws.&nbsp; Therefore, annual adjusted net income amounts may not necessarily be available to be paid as dividends.&nbsp; We may also not pay dividends to our shareholders in any particular fiscal year upon the determination of the Board of Directors that such distribution would be inadvisable in view of our financial condition at the time.&nbsp; Any such dividends not distributed would be allocated to a special reserve account for future payment to shareholders, unless used to offset subsequent losses.&nbsp; For further information on this matter, see &#8220;Item 3. Key Information&#8212; D. Risk Factors&#8212;Risks Relating to Our Common Shares and ADSs&#8212;Our shareholders may not receive any dividends.&#8221;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For further information on provisions of the Brazilian Corporation Law relating to required reserves and payment of dividends or interest on shareholders&#8217; equity, as well as specific rules applicable to the payment of dividends by us under our bylaws, see &#8220;Item 10. Additional Information&#8212;B. Memorandum and Articles of Association&#8212;Reserves.&#8221;</FONT></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">100</FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Ambev
S.A.</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following table
shows the cash dividends paid by Ambev to holders of Ambev&#8217;s common shares in
</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and in U.S. dollars (translated from </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> at the commercial
exchange rate as of the date of payment) for each of the indicated periods
..&nbsp; The amounts include interest on shareholders&#8217; equity, net of withholding
tax.&nbsp; The last distribution of dividends approved, which relates to the
second half of the 2017 fiscal year, was paid by Ambev on February 22, 2018.
</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Date of Approval</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">First Payment Date</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Reais</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> per
      Shares(1)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="29%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">U.S. Dollar Equivalent per Share at Payment
      Date(1)(2)</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">First half 2015 </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">March 31,
      2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.077</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.024</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">June 29,
      2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.085</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.027</FONT></P></TD></TR>
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    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Second half 2015
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">September 28,
      2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.150</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.036</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">December 30,
      2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.128</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.032</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">First half 2016
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">February 29,
      2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.111</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.028</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">July 29,
      2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.130</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.040</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Second half 2016
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">November 25,
      2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.160</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.047</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">December 29,
      2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.187</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.057</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">February 23,
      2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.070</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.023</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">First half 2017
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">July 17,
      2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.160</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.051</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Second half 2017
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">December 28,
      2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.264</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.080</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">February 22,
      2018</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.070</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="29%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">0.022</FONT></P></TD></TR></TABLE></DIV>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">
<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">The amounts set forth above are
amounts actually received by shareholders, which are net of withholding
tax.&nbsp; The financial statements present the amounts actually disbursed,
including the withholding tax on interest on shareholders&#8217; equity, which was
paid by Ambev on behalf of shareholders.&nbsp; The dividends set forth above are
calculated based on the number of outstanding shares at the date the
distributions were declared.&nbsp; See &#8220;Item 7. Major Shareholders and Related
Party Transactions&#8212;A. Major Shareholders.&#8221;</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Translated to U.S. dollars at the
exchange rate in effect at the first scheduled payment date.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For more information
on rules and procedures for shareholder distributions under our bylaws, see
&#8220;Item 10. Additional Information&#8212;B. Memorandum and Articles of
Association&#8212;Reserves.&#8221;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Significant Changes </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Except as otherwise
disclosed in our audited consolidated financial statements and in this annual
report, there have been no significant changes in our business, financial
conditions or results in December 31, 2017.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name=_Toc506645688></A></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">101</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_111></A>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
THE OFFER AND LISTING </FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Offer and Listing Details</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not applicable.&nbsp;
Information regarding the price history of the stock listed as required by Item
9.A.4 is set forth below in &#8220;&#8212;C. Principal Market and Trading Market Price
Information.&#8221;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Plan of Distribution</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not
applicable.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Principal Market and Trading Market Price Information</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are registered as a
publicly held company with the CVM.&nbsp; Our common shares are listed on the B3
under the symbol &#8220;ABEV3&#8221; and our ADSs are listed on the NYSE under the symbol
&#8220;ABEV&#8221;.&nbsp; Our shares and ADSs began trading on the B3 and the NYSE,
respectively, on November 11, 2013.&nbsp; The shares and ADSs of Old Ambev
ceased all trading activities on those stock exchanges on the close of business
of November 8, 2013.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Ambev has only one
class of shares (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">i.e</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, voting common shares), including in the form of ADSs
(evidenced by ADRs), with each ADS representing one Ambev common share.&nbsp;
The Ambev common shares and ADSs are registered under the Exchange Act.&nbsp; As
of March 6, 2018, Ambev had 15,711,205,090 shares outstanding.&nbsp; As of March
6, 2018, there were 1,253,690,208 Ambev ADSs outstanding(representing
1,253,690,208 Ambev shares, which corresponds to 8% of the total Ambev shares
outstanding).&nbsp; The Ambev shares held in the form of ADSs under the Ambev
ADS facilities are deemed to be the shares held in the &#8220;host country&#8221;
(</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">i.e</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, the United States) for purposes of the Exchange
Act.&nbsp; In addition, as of March 6, 2018 there were 121 registered holders of
Ambev ADSs. </FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Ambev
S.A.</FONT></I></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Shares</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The table below shows
the quoted high and low closing sales prices in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> of our shares on B3 for the
indicated periods.&nbsp; </FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%" colSpan=3>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Trading Prices on the B3: Ambev Common
      Shares*</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%" colSpan=2>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Per Common Share</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">High</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Low</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%" colSpan=2>
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(in
      </FONT></B><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">)</FONT></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Annual</FONT></U></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.73</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15.81</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">19.01</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15.19</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">18.88</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">14.18</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2014</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15.65</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">13.44</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2013 (starting
      November 11)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15.14</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">14.08</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Quarterly</FONT></U></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Fourth
      quarter</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.73</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">19.84</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Third
      quarter</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.13</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">17.46</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Second
      quarter</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">19.29</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">17.15</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">First
      quarter</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">17.79</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15.81</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Fourth
      quarter</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">18.73</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15.34</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Third
      quarter</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">19.01</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">17.68</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Second
      quarter</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">18.46</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">17.14</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">First
      quarter</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">18.22</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15.19</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Monthly</FONT></U></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2018</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">February</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">22.71</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.49</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">January</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.96</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.53</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">December</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.33</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">20.08</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">November</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">20.46</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">19.84</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">October</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.73</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">20.33</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="70%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">September</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">21.13</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">19.38</FONT></P></TD></TR></TABLE></DIV>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">102</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


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<TR>

   <TD width="50%"></TD>

   <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt">
   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_112"></A>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Historical pricing adjusted to reflect interest on shareholders&#8217; equity and dividend distributions. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">ADSs</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The table below shows the quoted high and low closing sales prices in U.S. dollars of our ADSs on the NYSE for the indicated periods.</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%" colSpan=3>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Trading Prices on the NYSE: Ambev ADSs*</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%" colSpan=2>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Per ADS</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">High</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Low</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(in U.S. dollars)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Annual</FONT></U></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="1%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.86</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4.90</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.95</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.63</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2015</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.21</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4.11</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2014</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.93</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.10</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2013 (starting November 11)</FONT></P></TD>

   <TD style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.61</FONT></P></TD>

   <TD style="PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.95</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Quarterly</FONT></U></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Fourth quarter</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.86</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.94</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Third quarter</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.73</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.24</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Second quarter</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.19</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.20</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">First quarter</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.75</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4.90</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2016</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Fourth quarter</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.93</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4.55</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Third quarter</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.95</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.34</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Second quarter</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.56</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4.72</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">First quarte</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4.96</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.63</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Monthly</FONT></U></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2018</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">February</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.95</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.46</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">January</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.88</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.56</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2017</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">December</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.44</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.10</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">November</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.32</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.94</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">October</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.86</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.21</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">September</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.73</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ffffff" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.13</FONT></P></TD></TR></TABLE></DIV>

<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">

<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Historical pricing adjusted to reflect interest on shareholders&#8217; equity and dividend distributions.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">103</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>



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   <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt">
   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_113"></A>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Old Ambev</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Old Ambev stock and ADS quotes below are based on the historical capital structure of Old AmBev, which was comprised of voting common shares and non-voting preferred shares.&nbsp; Therefore, they do not take into account the 1:5 splitting effect that resulted from the exchange of five new Ambev common shares for each and every Old Ambev common and preferred share surrendered in the 2013 stock swap merger of Old Ambev with us (see &#8220;Item 4. Information on the Company&#8212;A. History and Development of the Company&#8212;Stock Swap Merger of Old Ambev with Ambev S.A.&#8221;).</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Shares</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The table below shows the quoted high and low closing sales prices in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> on the B3 for preferred and common shares of Old Ambev for the indicated periods, considering the last date of trading of those shares on November 8, 2013. </FONT></P>

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<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%" colSpan=5>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Trading Prices on the B3: Old Ambev Common and Preferred Shares</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="48%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="26%" colSpan=2>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Per Common Share</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="26%" colSpan=2>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Per Preferred Share</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="48%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">High</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Low</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">High</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Low</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="48%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(in </FONT></B><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(in </FONT></B><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">)</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="48%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Annual</FONT></U></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="48%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2013 (until November 8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">91.13</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">75.69</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">93.80</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">76.38</FONT></P></TD></TR></TABLE></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">ADSs</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The information presented in the table below represents, for the indicated periods, the reported high and low closing sales prices of Old Ambev&#8217;s ADSs quoted in U.S. dollars on the NYSE, considering the last date of trading of those shares on November 8, 2013.&nbsp; </FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%" colSpan=5>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Trading Prices on the NYSE: Old Ambev Common and Preferred ADSs</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="48%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="26%" colSpan=2>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Per Common ADS</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="26%" colSpan=2>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Per Preferred ADS</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="48%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">High</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Low</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">High</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Low</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="48%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(in US$)</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="26%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(in US$)</FONT></B></P></TD></TR>

<TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Annual</FONT></U></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="48%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2013 (until November 8)</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">46.22</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">33.40</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">47.06</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">33.73</FONT></P></TD></TR></TABLE></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Regulation of the Brazilian Securities Market </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Brazilian securities market is regulated by the CVM, which has regulatory authority over the stock exchanges and securities markets, as well as by the Central Bank, which has, among other powers, licensing authority over brokerage firms and regulates foreign investment and foreign exchange transactions.&nbsp; The Brazilian securities market is governed primarily by Law No. 6,385 dated December 7, 1976, as amended, or the Brazilian Securities Law, and by the Brazilian Corporation Law, as amended and supplemented.&nbsp; These laws and regulations, among others, provide for disclosure requirements, restrictions on insider trading and price manipulation, and protection of minority shareholders.&nbsp; They also provide for licensing and oversight of brokerage firms and governance of Brazilian stock exchanges.&nbsp; However, the Brazilian securities markets are not as highly regulated and supervised as U.S. securities markets.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under the Brazilian Corporation Law, a company is either publicly held (listed), such as Ambev, whose shares are publicly traded on the B3, or privately held (unlisted).&nbsp; All listed companies are registered with the CVM and are subject to reporting and regulatory requirements.&nbsp; The Brazilian Corporation Law allows the CVM to classify listed companies according to the kind of securities they issue.&nbsp; A company registered with the CVM may trade its securities either on the Brazilian stock exchanges or in the Brazilian over-the-counter market.&nbsp; Shares of companies like Ambev traded on the B3 may not simultaneously be traded on the Brazilian over-the-counter market.&nbsp; The shares of a listed company, including Ambev, may also be traded privately subject to several limitations.&nbsp; To be listed on the B3, a company must apply for registration with the CVM and the B3.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">104</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The trading of securities on the Brazilian stock exchanges may be halted at the request of a company in anticipation of a material announcement.&nbsp; Companies may be required by law to request such suspension.&nbsp; Trading may also be suspended on the initiative of a Brazilian stock exchange or the CVM, among other reasons, based on or due to a belief that a company has provided inadequate information regarding a significant event or has provided inadequate responses to inquiries by the CVM or a stock exchange.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Trading on the Brazilian Stock Exchanges</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">B3 is the only Brazilian stock exchange on which private equity and private debt may be traded.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">B3 trading sessions, from March 12, 2018, are from 10:00 a.m. to 4:55 p.m., S&#227;o Paulo time.&nbsp; Equity trading is executed fully electronically through an order-driven trading system called &#8220;PUMA Trading System,&#8221; or &#8220;PUMA.&#8221;&nbsp; Additionally, the home broker system through the Internet has been established allowing retail investors to transmit orders directly to the B3.&nbsp; B3 also permits trading from 5:30 p.m. to 6:00 p.m. on an online system connected to PUMA and Internet brokers called the &#8220;after-market&#8221;.&nbsp; The after-market session is restricted to certain stocks that were traded in portfolios IBOV and/or IBrX 100 and that were traded on the same day during the regular negotiation.&nbsp; Trading on the after-market is subject to regulatory limits on price volatility and on the volume of shares transacted through Internet brokers.&nbsp; CVM has discretionary authority to suspend trading in shares of a particular issuer under specific circumstances.&nbsp; Securities listed on the B3 may also be traded off the exchange under specific circumstances, but such trading is very limited.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Settlement of transactions is effected three business days after the trade date, without any adjustment.&nbsp; Delivery of and payment for shares are made through the facilities of separate clearinghouses for each exchange, which maintain accounts for the member brokerage firms.&nbsp; The seller is ordinarily required to deliver the shares to the exchange on the second business day following the trade date.&nbsp; The B3 Equities Clearing is responsible for the registration, settlement and risk management of trades with shares through the PUMA Trading System.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In order to better control volatility, B3 has adopted a &#8220;circuit breaker&#8221; mechanism pursuant to which trading sessions may be suspended for a period of 30 minutes or one hour whenever the index of the stock exchange falls 10% or 15%, respectively, compared to the previous day&#8217;s closing index.&nbsp; If the market falls more than 20% compared to the previous day, the B3 may determine the suspension of trading in all markets for a defined period, at its sole discretion, and such decision must be disclosed to the market through the News Agency (ABO &#8211; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Opera&#231;&#245;es</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">).&nbsp; The &#8220;circuit breaker&#8221; is not allowed to be started during the last 30 minutes of the trading session.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Although the Brazilian equity market is Latin America&#8217;s largest in terms of market capitalization, it is smaller, more volatile and less liquid than the major U.S. and European securities markets.&nbsp; As of December 31, 2017, the aggregate market capitalization of all companies included in the IBOVESPA index of the B3 was equivalent to approximately R$3.0 trillion.&nbsp; Although all of the outstanding shares of a listed company are actually available for trading by the public, in most cases fewer than half of the listed shares are actually traded by the public because the remainders of a listed company&#8217;s shares are usually held by small groups of controlling persons, by governmental entities or by one principal shareholder.&nbsp; For this reason, data showing the total market capitalization of Brazilian stock exchanges tend to overstate the liquidity of the Brazilian equity securities market. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">There is also significantly greater concentration in the Brazilian securities markets.&nbsp; For example, as of December 31, 2017 the ten shares with greatest representation on the IBOVESPA index of the B3 accounted for 57.5% of the total weight of all companies included in that stock index. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Trading on Brazilian stock exchanges by non-residents of Brazil is subject to limitations under Brazilian foreign investment legislation.&nbsp; See &#8220;Item 3. Key Information&#8212;A. Selected Financial Data&#8212;Exchange Rate Information&#8212;Exchange Controls&#8221; and &#8220;Item 10. Additional Information&#8212;B. Memorandum and Articles of Association&#8212;Restrictions on Foreign Investment.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Selling Shareholders</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not applicable.</FONT></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">105</FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dilution</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not applicable.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">F.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expenses of the Issue</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not applicable.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name="_Toc506645689"></A></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">106</FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ADDITIONAL INFORMATION </FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Share Capital</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not
applicable.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Memorandum and Articles of Association </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Below is a brief
summary of the material provisions concerning our common shares, bylaws and the
Brazilian Corporation Law.&nbsp; In Brazil, the principal governing document of
a corporation is its bylaws (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Estatuto Social</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">).&nbsp; This description is
qualified in its entirety by reference to the Brazilian Corporation Law and our
bylaws.&nbsp; An English translation of our bylaws has been filed with the SEC
as an exhibit to this annual report.&nbsp; A copy of our bylaws (together with
an English translation) is also available for inspection at the principal office
of the depositary and at our website (www.ri.ambev.com.br).&nbsp; Information on
ownership of our shares is set forth under &#8220;Item 7. Major Shareholders and
Related Party Transactions&#8212;A. Major Shareholders.&#8221;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As of March 6, 2018,
our capital stock was equal to R$57,614,139,847.33 divided into 15,717,615,419
&nbsp;issued common shares, without par value, of which 6,410,329 were treasury
shares.&nbsp; We are authorized to increase our capital up to 19,000,000,000
shares upon the decision of our Board of Directors, without the need to amend
our bylaws.&nbsp; We have a single-class share structure, comprised exclusively
of voting common shares, and there are no classes or series of preferred shares
outstanding. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pursuant to the
Brazilian Corporation Law, we are allowed to sell in the open market any Ambev
common shares that have been subscribed but not paid in full within the
applicable deadline set forth in our bylaws or the applicable subscription
bulletin under which those shares were issued.&nbsp; If an open market sale is
impractical, any subscribed but unpaid Ambev common shares may be
forfeited.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Each common share
entitles the holder thereof to one vote at our shareholders&#8217; meetings.&nbsp;
Holders of common shares are not entitled to any preference upon our
liquidation.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Board of Directors
does not vote on compensation payable to them or any of their members.&nbsp; For
more information on management compensation, see &#8220;Item 6. Directors, Senior
Management and Employees&#8212;C. Board Practices&#8212;The Board of Directors&#8212;Operations,
Finance and Compensation Committee.&#8221;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">There is no age limit
for retirement applicable to the members of our Board of Director in our
bylaws.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">General</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our registered name is
Ambev S.A. and our registered office is in S&#227;o Paulo, S&#227;o Paulo, Brazil.&nbsp;
Our registration number with the S&#227;o Paulo Commercial Registry is
35,300,368,941.&nbsp; Our principal corporate purposes include the production
and sale of beer, CSDs and other beverages.&nbsp; A more detailed description of
our purposes can be found in Chapter I, Article 3 of our bylaws.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Rights of the Ambev Common Shares</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Each of our common
shares is indivisible and entitles its holder to one vote at any shareholders&#8217;
meeting of Ambev.&nbsp; In accordance with our bylaws and the Brazilian
Corporation Law, shareholders have the right to receive dividends or other
distributions in proportion to their equity interest in our share capital.&nbsp;
For additional information regarding the payment of dividends and other
distributions relating to our common shares, see &#8220;Item 8. Financial
Information&#8212;A. Consolidated Financial Statements and Other Financial
Information&#8212;Dividend Policy.&#8221;&nbsp; In addition, our shareholders may freely
transfer their shares and are entitled to be included in a statutory change of
control tender offer upon a disposition of our control.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Also, upon our
liquidation, and after the discharge of all our liabilities, our common shares
entitle its holders to a participation in our remaining assets as capital
reimbursement in proportion to their equity interest in our share capital.&nbsp;
Holders of our common shares have the right, but not the obligation, to
subscribe for our future capital increases.</FONT></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">107</FONT></P></DIV>
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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Moreover, pursuant to
the Brazilian Corporation Law, neither our bylaws nor actions taken at a
shareholders&#8217; meeting may deprive a shareholder of the following
rights:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the right to participate in our profit
distributions;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the right to participate in our remaining assets in
proportion to its equity interest in our share capital in the event of our
liquidation;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">preemptive rights to subscribe for our common shares,
convertible debentures and warrants, except in certain circumstances under the
Brazilian Corporation Law, as described in &#8220;&#8212;Preemptive Rights&#8221;;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the right to inspect and monitor our management, in
accordance with the Brazilian Corporation Law;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the right to vote at shareholders&#8217; meetings;
and</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the right to exercise appraisal rights and withdraw from
the Company in the cases provided under the Brazilian Corporation Law, as
described in &#8220;&#8212;Appraisal Rights.&#8221;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Shareholders&#8217; Meetings</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pursuant to the
Brazilian Corporation Law, shareholders, during shareholders&#8217; meetings regularly
called and convened, are generally empowered to pass resolutions relating to our
corporate purpose as they may deem necessary.&nbsp; Shareholders&#8217; meetings may
be ordinary, such as the annual meeting, or extraordinary.&nbsp; Shareholders at
the annual shareholders&#8217; meeting, which is required to be held within four
months of the end of our fiscal year, have the exclusive power to approve our
financial statements and to determine the allocation of our adjusted net income
and the distribution of dividends with respect to the fiscal year ended
immediately prior to the relevant annual meeting.&nbsp; Extraordinary
shareholders&#8217; meetings are convened to approve the remaining matters within
their competency as provided by law and/or our bylaws.&nbsp; An extraordinary
shareholders&#8217; meeting may be held concurrently with an ordinary
meeting.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">A shareholders&#8217;
meeting is convened by publishing a meeting call notice no later than 15 days
prior to the scheduled meeting date, on first call, and no later than eight days
prior to the date of the meeting, on second call, and no fewer than three times,
in the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Di&#225;rio Oficial do Estado de S&#227;o Paulo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and in a newspaper
with general circulation in S&#227;o Paulo, where we have our registered
office.&nbsp; In certain circumstances, however, the CVM may require that the
first notice be published no later than 30 days prior to the meeting.&nbsp; At
the shareholders&#8217; meeting held on March 1, 2013, our shareholders designated
</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Valor
Econ&#244;mico</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, a newspaper with general circulation in S&#227;o Paulo for
this purpose.&nbsp;&nbsp; The call notice must contain the date, time, place and
agenda of the meeting, and in case of amendments to the bylaws, the indication
of the relevant matters.&nbsp; CVM Rule No. 481 of December 17, 2009, also
requires that additional information be disclosed in the meeting call notice for
certain matters.&nbsp; For example, in the event of an election of directors,
the meeting call notice shall also disclose the minimum percentage of equity
interest required from a shareholder to request the adoption of cumulative
voting procedures.&nbsp; All documents in connection with the shareholders&#8217;
meeting&#8217;s agenda shall be made available to shareholders either within at least
one month prior to the meeting or upon publication of the first meeting call
notice, as the case may be, except if otherwise required by law or CVM
regulations.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">A shareholders&#8217;
meeting may be held if shareholders representing at least one quarter of the
voting shares are present, except in some cases provided by law, such as in
meetings seeking to amend the Company&#8217;s bylaws, which requires the presence of
shareholders representing at least two-thirds of the voting shares.&nbsp; If no
such quorum is present, an eight-day prior notice must be given in the same
manner as described above, and a meeting may then be convened without any
specific quorum requirement, subject to the minimum quorum and voting
requirements for specific matters, as discussed below.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Except as otherwise
provided by law, resolutions of a shareholders&#8217; meeting are passed by a simple
majority vote of the shares present or represented at the meeting, abstentions
not being taken into account.&nbsp; Under the Brazilian Corporation Law, the
approval of shareholders representing at least a majority of the issued and
outstanding voting shares is required for the types of actions described below
(among others):</FONT></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">108</FONT></P></DIV>
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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">creating preferred shares or increasing disproportionately an existing class of preferred shares relative to the other classes of shares, unless such action is provided for or authorized by the bylaws;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">modifying a preference, privilege or condition of redemption or amortization conferred upon one or more classes of preferred shares, or creating a new class with greater privileges than those of the existing classes of preferred shares;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">reducing the minimum mandatory dividend;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">merging Ambev with another company or consolidating or executing a spin-off of Ambev;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">changing our corporate purpose; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">dissolving Ambev or ceasing its liquidation status.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Shareholders may not exercise voting rights whenever they are contributing assets in a capital increase paid in kind or with respect to the approval of their own accounts, as well as in those resolutions that may favor those shareholders specifically, or whenever there is a conflicting interest with the Company.&nbsp; Mergers between affiliated parties are subject to a special statutory valuation procedure intended to determine whether the exchange ratio is adequate for all parties involved.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Shareholders&#8217; meetings may be called by our Board of Directors.&nbsp; Under the Brazilian Corporation Law, meetings may also be convened by our shareholders as follows:&nbsp; (1) by any shareholder, if the directors take more than 60 days to convene a shareholders&#8217; meeting after the date they were required to do so under applicable laws and our bylaws, (2) by shareholders holding at least 5% of our total capital stock, if our Board of Directors fails to call a meeting within eight days after receipt of a justified request to call a meeting by those shareholders indicating the proposed agenda, (3) by shareholders holding at least 5% of our voting capital stock, if the directors fail to call a general meeting within eight days after receipt of a request to call a shareholders&#8217; meeting for purpose of assembling a Fiscal Council, and (4) by our Fiscal Council, if the Board of Directors fails to call an annual shareholders&#8217; meeting within 30 days after the mandatory date for such call.&nbsp; The Fiscal Council may also call an extraordinary shareholders&#8217; meeting if it believes that there are important or urgent matters to be addressed.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">To attend a shareholders&#8217; meeting, shareholders or their legal representatives willing to attend the meeting shall present proof of ownership of their Company shares, including identification and/or pertinent documentation that evidences their legal representation of such shareholder.&nbsp; A shareholder may be represented at a general meeting by an attorney-in-fact appointed no more than one year before the meeting, who must be another shareholder, a company officer or a lawyer. Notwithstanding the above, the CVM decided on November 4, 2014 that shareholders that are legal entities may be represented at general meetings by their legal representatives or by a duly appointed attorney-in-fact, pursuant to the bylaws and related corporate instruments of the legal entities and pursuant to the Brazilian Civil Code.&nbsp; For a publicly-held company, the attorney-in-fact may also be a financial institution.&nbsp; Investment funds must be represented by their investment fund officer.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The participation and remote voting in general shareholders&#8217; meetings of publicly-held companies are regulated by CVM Rule No. 561, as amended, which aims to facilitate the participation of shareholders in general meetings either through the vote or through the submission of proposals, as well as to enhance the corporate governance instruments available in the Brazilian market.&nbsp; For this purpose, this regulation provided the following:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the creation of a remote voting bulletin through which shareholders may exercise their right to vote prior to the date the general meeting is held;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the possibility of inclusion of candidates and proposals of deliberation of minority shareholders in that bulletin, with due observance of certain percentages of equity interest, in order to facilitate shareholders&#8217; participation in general meetings; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the deadlines, procedures and ways of sending this bulletin, which may be forwarded by the shareholder: (a) to the custodian (if the shares held by the shareholder are kept at a centralized deposit) </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">or; (b) to the book-entry agent of the shares issued by the company (if such shares are not kept at a centralized deposit); or (c) directly to the company.</FONT></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">109</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The application of CVM Rule No. 561, as amended, became mandatory on January 1, 2017 for companies that on April 9, 2015 had at least one share class included either on the Index Brasil 100 or the IBOVESPA index of the B3, such as Ambev. Additionally, CVM Rule No. 594 of December 20, 2017, introduced modifications to the rules applicable to remote voting, including, but not limited to, (i) the deadlines for inclusion of candidates in the bulletin by request of minority shareholders and for the company to resend the bulletin in case of inclusion of candidates by minority shareholders and (ii) the disclosure of the detailed final voting map of the shareholders&#8217; meetings, including the partial disclosure of each shareholders taxpayer&#8217;s registry number and their respective votes on each matter.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Board of Directors</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In accordance with the Brazilian Corporation Law, any matters subject to the approval of our Board of Directors can be approved by the affirmative vote of a majority of our Board members present at the relevant meeting, except as provided in our Shareholders&#8217; Agreement.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under our bylaws, at least two members of our Board of Directors shall be independent directors.&nbsp; According to our bylaws, for a director to be considered independent he or she may not:&nbsp; (1) be a controlling shareholder, or a spouse or relative to the second degree of a controlling shareholder, (2) have been, within the last three years, an employee or executive officer of (a) Ambev or of any of our controlled companies or (b) our controlling shareholder or entities under common control with Ambev, (3) directly or indirectly, supply to, or purchase from, us, our controlled companies, controlling shareholder or entities under common control, any products or services, to such an extent as would cause that director to cease being independent, (4) be an employee or administrator of any corporation or entity that offers products or services to, or receives products or services from, us, our controlled companies, controlling shareholder or entities under common control, to such an extent as would cause that director to cease being independent, (5) be a spouse or relative to the second degree of any member of management of Ambev, its controlled companies, controlling company or entity under common control, or (6) receive any other compensation from Ambev, its controlled companies, controlling shareholder or entities under common control, aside from compensation for duties as a board member (gains arising from ownership of our stock are excluded from this restriction).&nbsp; Our bylaws also set forth that directors elected by a separate ballot vote of minority shareholders holding at least 10% of our capital stock, as provided in paragraphs 4 and 5 of Section 141 of the Brazilian Corporation Law, shall be deemed independent regardless of compliance with the above mentioned criteria.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">According to the general principles of the Brazilian Corporation Law, if a director or an executive officer has a conflict of interest with a company in connection with any proposed transaction, the director or executive officer may not vote in any resolution of the Board of Directors or of the board of executive officers regarding such transaction and must disclose the nature and extent of the conflicting interest for purposes of recording such information in the minutes of the meeting.&nbsp; In any case, a director or an executive officer may not transact any business with a company, including any borrowings, except on reasonable or fair terms and conditions that are identical to the terms and conditions prevailing in the market or offered by third parties.&nbsp; Any transaction in which a director or executive officer may have an interest can only be approved if carried out on an arm&#8217;s-length basis.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Since the enactment of Brazilian Law No. 12,431/11, which amended Section 146 of the Brazilian Corporation Law, directors no longer need to be shareholders to serve on the board of directors of a Brazilian corporation.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Election of Directors</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Each Ambev common share represents one vote at any shareholders&#8217; meeting in connection with the election of the Board of Directors of Ambev.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Common shareholders holding at least 10% of our capital may elect one member and respective alternate to the Board of Directors without the participation of the controlling shareholders.&nbsp; To exercise these minority rights, shareholders must prove their continuous ownership of their Ambev common shares for at least three months prior </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">to the shareholders&#8217; meeting convened to elect board members.&nbsp; If that prerogative is exercised with the adoption of cumulative voting procedures, as described below, the controlling shareholder will always have the right to elect the same number of members appointed by minority shareholders plus one, regardless of the number of directors provided in our bylaws.</FONT></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">110</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Shareholders holding shares representing at least 10% of our capital, or a smaller applicable percentage according to a sliding scale determined by the CVM and based on a company&#8217;s capital stock (currently 5% of the Ambev common shares, pursuant to the CVM&#8217;s sliding scale), have the right to request that cumulative voting procedures be adopted.&nbsp; Under such procedures, each of our common shares shall entitle as many votes as the number of director positions to be filled, and each shareholder may cast all of his or her votes for a single candidate or distribute them among various candidates.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pursuant to CVM Rule No. 561/15, publicly-held companies shall adopt the following measures regarding voting process: (1) inform the market of the adoption of cumulative voting process in annual meetings immediately upon the receipt of the first valid requirement; (2) disclose the voting final summary statements, the voting final detailed statements, as well as any voting statement presented by shareholders at the annual meetings; and (3) register in the minutes of the annual shareholders&#8217; meeting the number of approving, rejecting or abstaining votes for each item of the agenda, including the votes received by each member of the Board of Directors and/or Fiscal Council elected in such annual shareholders&#8217; meeting.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under our bylaws and applicable law, the number of directors may be reduced to a minimum of three.&nbsp; Since our Shareholders&#8217; Agreement provides that, as long as FAHZ maintains a minimum shareholding in our capital stock, it shall have the right to appoint four members to our Board of Directors, any reduction in the number of such members to fewer than four would be subject to FAHZ&#8217;s prior approval.&nbsp; After 2019, however, FAHZ shall have the right to appoint only two members to our Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The current members of our Board of Directors were elected by our controlling shareholders.&nbsp; Board members, regardless of the shareholder they represent, owe fiduciary duties to the Company and all of our shareholders.&nbsp; At the same time, any director appointed by shareholders bound by a shareholders&#8217; agreement is also bound by the terms of that agreement. For more information on our shareholders&#8217; agreements, see &#8220;Item 7. Major Shareholders and Related Party Transactions&#8212;A. Major Shareholders&#8212;Ambev&#8217;s Major Shareholders.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Dividends</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The discussion below summarizes the main provisions of the Brazilian Corporation Law regarding the establishment of reserves by corporations and rules with respect to the distribution of dividends, including provisions regarding interest on shareholders&#8217; equity.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Calculation of Distributable Amounts</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">At each annual shareholders&#8217; meeting, our Board of Directors is required to propose how Ambev&#8217;s net income for the preceding fiscal year is to be allocated.&nbsp; For purposes of the Brazilian Corporation Law, a company&#8217;s net income after income taxes and social contribution on profits for the immediately preceding fiscal year, net of any accumulated losses from prior fiscal years and amounts allocated to employees&#8217; and management&#8217;s participation in earnings, represents its &#8220;adjusted net income&#8221; for such preceding fiscal year.&nbsp; In accordance with the Brazilian Corporation Law, an amount equal to such adjusted net income, which is also referred to in this section as the distributable amount, will be available for distribution to shareholders in any particular year.&nbsp; Such distributable amount is subject to:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">reductions that may be caused by amounts contributed for the purpose of meeting the charges of the assistance foundation for employees and management of the Company and its controlled companies, with due regard for the rules established by the Board of Directors to this effect; up to 10% of the distributable amount may be contributed under this concept;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">reductions caused by amounts allocated to the Legal Reserve or Contingency Reserves (see &#8220;&#8212;Reserves&#8221;); and</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">increases caused by reversals of reserves constituted in prior years.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Minimum Mandatory Dividend</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are required by our bylaws to distribute to shareholders as dividends in respect to each fiscal year ending on December 31 a minimum mandatory dividend equivalent to no less than 40% of the distributable amount.&nbsp; In addition to the minimum mandatory dividend, the Board of Directors may recommend payment of additional dividends to shareholders.&nbsp; The limit for dividend payment is the distributable amount plus the balance available in our statutory &#8220;Investment Reserve,&#8221; to which we allocate distributable amounts from previous fiscal years not paid as dividends.&nbsp; See &#8220;&#8212;Reserves.&#8221;&nbsp; Furthermore, the Board of Directors may also resolve on the distribution of interim dividends and/or interest on shareholders&#8217; equity based on the accrued profits or existing profits reserves presented in the latest annual or six-month balance sheet.&nbsp; Interim dividends and interest on shareholders&#8217; equity is always counted as an advancement towards the minimum mandatory dividend.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition, the minimum mandatory dividend, whether the full amount or only a portion thereof, may not be distributed in any given year should the Board of Directors consider that such payment is incompatible with the Ambev&#8217;s financial situation, subject to shareholder approval.&nbsp; While the law does not establish the circumstances in which distribution of the minimum mandatory dividend is incompatible with a company&#8217;s financial situation, it is generally agreed that a company is allowed to refrain from paying the minimum mandatory dividend if such payment threatens its existence as a going concern or harms its normal course of operations.&nbsp; The Fiscal Council must opine on the nonpayment of minimum mandatory dividends, and management must submit to the CVM a report explaining the reasons considered by the Board of Directors to withhold the payment of the minimum mandatory dividend no later than five business days after such a decision is taken.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Any postponed payment of minimum mandatory dividends must be allocated to a special reserve.&nbsp; Any remaining balance in such reserve not absorbed by losses in subsequent fiscal years must be paid to shareholders as soon as the Company&#8217;s financial situation allows.&nbsp; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Payment of Dividends</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under the Brazilian Corporation Law any holder of record of shares at the time of a dividend declaration is entitled to receive such dividends, which are generally required to be paid within 60 days following the date of such declaration, unless otherwise resolved by the shareholders&#8217; meetings, which, in either case, must occur prior to the end of the fiscal year in which such dividends were declared.&nbsp; Our bylaws do not provide for a time frame for payment of dividends.&nbsp; The minimum mandatory dividend is satisfied through payments made both in the form of dividends and interest on shareholders&#8217; equity, which, from an economic perspective, is equivalent to a dividend but represents a tax efficient alternative to distribute earnings to shareholders because it is deductible for income tax purposes up to a certain limit established by Brazilian tax laws (see &#8220;&#8212;Interest on Shareholders&#8217; Equity&#8221;).&nbsp; Shareholders have a three-year period from the dividend payment date to claim the payment of dividends, after which we are no longer liable for such payment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Shareholders who are not residents of Brazil must register their investment with the Central Bank in order for dividends, sales proceeds or other amounts to be eligible for remittance in foreign currency outside of Brazil.&nbsp; Our common shares underlying the Ambev ADSs will be deposited with the Brazilian custodian, Banco Bradesco S.A., which acts on behalf of and as agent for the Depositary, which is registered with the Central Bank as the fiduciary owner of those common shares underlying our ADSs.&nbsp; Payments of cash dividends and distributions on our common shares will be made in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> to the custodian on behalf of the Depositary.&nbsp; The custodian will then convert those proceeds into U.S. dollars and will deliver those U.S. dollars to the Depositary for distribution to ADS holders.&nbsp; If the custodian is unable to immediately convert dividends in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> into U.S. dollars, ADS holders may be adversely affected by devaluations of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> or other exchange rate fluctuations before those dividends can be converted into U.S. dollars and remitted abroad.&nbsp; Fluctuations in the exchange rate between the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> and the U.S. dollar may also affect the U.S. dollar equivalent of the trading price of our common shares in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> on the B3.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Interest on Shareholders&#8217; Equity</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazilian companies are permitted to distribute earnings to shareholders under the concept of an interest payment on shareholders&#8217; equity, calculated based on specific Ambev&#8217;s shareholders&#8217; equity accounts multiplied by </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">the TJLP rate.&nbsp; The TJLP is the official interest rate defined by the Central Bank and used as reference in long-term loans provided by the BNDES.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Amounts distributed by Ambev to its shareholders as interest on shareholders&#8217; equity is deductible for purposes of income tax and social contribution applicable to our profits.&nbsp; The amount of the deduction may not exceed the greater of:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">50% of net income (after the deduction of social contribution on net income but before taking into consideration the provision for corporate income tax and the amounts attributable to shareholders as interest on shareholders&#8217; equity) for the period in respect of which the payment is made; or</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">50% of the sum of retained profits and profit reserves as of the date of the beginning of the period in respect of which the payment is made.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Interest on shareholders&#8217; equity is treated similarly to dividends for purposes of distribution of profits.&nbsp; The only significant difference is that a 15% withholding income tax is due by nonexempt shareholders, resident or not of Brazil, upon receipt of such interest payment, which tax must be withheld by us on behalf of our shareholders when the distribution is implemented.&nbsp; If the shareholder is not a Brazilian resident, and is resident or domiciled in a tax-haven jurisdiction, withholding income tax is due at a 25% rate.&nbsp; The amount shareholders receive as interest on shareholders&#8217; equity net of taxes is deducted from the minimum mandatory dividend owed to shareholders.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For further information on the taxation of interest on shareholders&#8217; equity, including the concept of tax haven jurisdiction for such purposes, see &#8220;&#8212;E. Taxation&#8212;Brazilian Tax Considerations&#8212;Income Tax&#8212;Distributions of Interest on Shareholders&#8217; Equity.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Reserves</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">General</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Brazilian Corporation Law provides that all discretionary allocations of adjusted net income, including the Unrealized Income Reserve and the Investment Reserve, are subject to shareholder approval and may be added to capital (except for the amounts allocated to the Unrealized Income Reserve) or distributed as dividends in subsequent years.&nbsp; In the case of Tax Incentive Reserve and the Legal Reserve, they are also subject to shareholder approval; however, the use of their respective balances is limited to having those balances added to capital or used to absorb losses.&nbsp; They cannot be used as a source for income distribution to shareholders.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Legal Reserve</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under the Brazilian Corporation Law, corporations are required to maintain a &#8220;Legal Reserve&#8221; to which they must allocate 5% of their adjusted net income for each fiscal year until the balance of the reserve equals 20% of their share capital.&nbsp; However, corporations are not required to make any allocations to their legal reserve in a fiscal year in which the Legal Reserve, when added to other established capital reserves, exceeds 30% of their share capital.&nbsp; Accumulated losses, if any, may be charged against the Legal Reserve.&nbsp; Other than that, the Legal Reserve can only be used to increase a company&#8217;s share capital.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Contingency Reserve</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under the Brazilian Corporation Law, a portion of a corporation&#8217;s adjusted net income may also be discretionally allocated to a &#8220;Contingency Reserve&#8221; for an anticipated loss that is deemed probable in future years.&nbsp; Any amount so allocated in a prior year must be either reversed in the fiscal year in which the loss was anticipated if that loss does not in fact occur or is not charged off in the event that the anticipated loss occurs.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Investment Reserve</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under Brazilian Corporation Law, we are permitted to provide for the allocation of part of our net income to discretionary reserve accounts that may be established in accordance with our bylaws. The allocation of our net income to discretionary reserve accounts may not be made if it serves to prevent the distribution of the minimum mandatory distributable amount. According to our bylaws, a portion of our adjusted net income may be allocated to </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">an &#8220;Investment Reserve&#8221; for the expansion of our activities, including to be capitalized by us or for our investment in new business ventures.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pursuant to our bylaws, the Investment Reserve balance is not allowed to be greater than 80% of our share capital.&nbsp; In case such limit is reached, shareholders may resolve to use the exceeding amount for conversion into share capital or to be distributed as dividends.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Unrealized Income Reserve</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pursuant to the Brazilian Corporation Law, the amount by which the minimum mandatory dividend exceeds the &#8220;realized&#8221; portion of net income for any particular year may be allocated to the Unrealized Income Reserve.&nbsp; The realized portion of net income is the amount by which the adjusted net income exceeds the sum of:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">our net positive results, if any, from the equity method of accounting for earnings and losses of our subsidiaries and certain affiliates; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the net profits, net gains or net return obtained on transactions or on accounting of assets and liabilities based on their market value, to be completed after the end of the following fiscal year.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Tax Incentive Reserve</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under the Brazilian Corporation Law, a portion of the adjusted net income may also be allocated to a general &#8220;Tax Incentive Reserve&#8221; in amounts corresponding to reductions in a company&#8217;s income tax generated by credits for particular government-approved investments.&nbsp; This reserve is available only in connection with the acquisition of capital stock of companies undertaking specific government-approved projects.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Goodwill Premium from Shares Issued</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pursuant to the Brazilian Corporation Law, the amount received from subscription of shares in excess of the average book value of the shares must be allocated to this reserve.&nbsp; The amount can be used for future capital increases without the issuance of new shares or to support an approved share buyback program.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Fiscal Benefit of Goodwill Premium Amortization (CVM Rule No. 319/99)</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Pursuant to CVM Rule No. 319/99, when a reporting company merges with its parent company, while remaining a reporting company, the goodwill previously paid by the parent company on its acquisition is deductible for purposes of income tax and social contribution on profits.&nbsp; This future tax benefit is recorded as a capital reserve by the reporting company.&nbsp; As this benefit is realized, the company increases its share capital proportionally to the benefit, and is able to issue new shares to the parent company, pursuant to the terms of the merger agreement.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Liquidation</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In the event of our liquidation, an extraordinary general shareholders&#8217; meeting shall determine the form of liquidation and appoint a committee to supervise the process during the liquidation period.&nbsp; A liquidator shall be appointed by the Board of Directors.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Restrictions on Foreign Investment</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">There are no restrictions on ownership or voting rights in respect of our common shares owned by individuals or legal entities domiciled outside Brazil.&nbsp; For a description of voting rights, see &#8220;&#8212;Rights of the Ambev Common Shares&#8221; and &#8220;&#8212;Shareholders&#8217; Meetings.&#8221;&nbsp; The right to convert payments of dividends (including interest on shareholders&#8217; equity) and proceeds from the sale of our common shares into foreign currency and to remit those amounts outside Brazil, however, is subject to exchange control and foreign investment legislation.&nbsp; For a description of these exchange control restrictions and foreign investment legislation, see &#8220;Item 3. Key Information&#8212;A. Selected Financial Data&#8212;Exchange Rate Information&#8212;Exchange Controls.&#8221;</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Appraisal Rights</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under the Brazilian
Corporation Law, dissenting shareholders have appraisal rights that allow them
to withdraw from the Company and be reimbursed for the value of their Ambev
common shares, whenever a decision is taken at a shareholders&#8217; meeting by a
qualified quorum of shareholders representing at least 50% of the total voting
capital to (among others):</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">create preferred shares or increase disproportionately an
existing class of preferred shares relative to the other classes of shares,
unless such action is provided for or authorized by our bylaws;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">modify a preference, privilege or condition of redemption
or amortization conferred upon one or more classes of preferred shares, or
create a new class with greater privileges than the existing classes of
preferred shares;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">reduce the minimum mandatory dividend;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">merge or consolidate us with another company;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">change our corporate purpose;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">conduct a spin-off of Ambev, if the new entities
resulting from the spin-off have different primary corporate purposes or a lower
minimum mandatory dividend or such spin-off causes us to join a group of
companies (as defined in the Brazilian Corporation Law);</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">transform us into another corporate type;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">conduct a stock swap merger of Ambev with another
company, so that Ambev becomes a wholly-owned subsidiary of that company;
or</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">approve the acquisition of control of another company,
the price of which exceeds the limits set forth in the Brazilian Corporation
Law.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In cases where Ambev
merges with another company or participates in a group of companies (as defined
in the Brazilian Corporation Law), our shareholders will not be entitled to
exercise appraisal rights if their Ambev common shares are (1) liquid, defined
as being part of the IBOVESPA Index or another traded stock exchange index (as
defined by the CVM) and (2) widely-held such that the controlling shareholder or
companies under its control holds less than 50% of the referred common
shares.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Appraisal rights
expire within 30 days after publication of the minutes of the relevant
shareholders&#8217; meeting that approved the transaction.&nbsp; We are entitled to
reconsider any action triggering appraisal rights within 10 days following the
expiration of the 30-day appraisal rights exercise period if the redemption of
our common shares held by dissenting shareholders would jeopardize our financial
stability.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Any shareholder that
exercises appraisal rights is, in general, entitled to receive the amount
equivalent to its shares&#8217; book value as per the last balance sheet approved by
our shareholders.&nbsp; If the resolution giving rise to appraisal rights is
approved within more than 60 days after the date of the last
shareholder-approved balance sheet of Ambev, dissenting shareholders may require
that the value of their shares be calculated on the basis of an updated balance
sheet (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">balan&#231;o especial</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">) dated no less than 60 days
before the resolution date.&nbsp; In this case, we must (1) immediately advance
80% of the book value of the shares to be redeemed according to the most recent
balance sheet approved by our shareholders and (2) pay the remaining balance
within 120 days after the date of the resolution of the shareholders&#8217;
meeting.&nbsp; However, if the advanced payment of 80% of the book value of the
shares to be redeemed is greater than the actual appraisal rights value per
share determined by the updated balance sheet, then the amount in excess
advanced by the Company shall be refunded to us by the dissenting shareholders
who exercised appraisal rights.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As a general rule,
shareholders who acquire their shares after the publishing of a first meeting
call notice or the relevant press release concerning the meeting will not be
entitled to appraisal rights.&nbsp; </FONT></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">115</FONT></P></DIV>
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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Preemptive Rights</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Each shareholder of Ambev generally has preemptive rights to subscribe for new shares of Ambev in our capital increases (including in the issuance of stock purchase warrants or convertible bonds) in proportion to its shareholdings.&nbsp; A minimum 30-day period following the publication of the capital increase notice is given for the exercise of preemptive rights.&nbsp; Preemptive rights may be purchased and sold by shareholders.&nbsp; Our bylaws provide that if the Board of Directors decides to increase our share capital within the limit of the authorized capital through sales in stock exchanges, public offerings or public tender offers, no preemptive rights will apply.&nbsp; In addition, Brazilian law provides that the grant or the exercise of stock options pursuant to certain stock option plans, such as our Stock Option Plan, is not subject to preemptive rights.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Inspection of Corporate Records </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Shareholders that own 5% or more of our outstanding share capital have the right to inspect our corporate records, including shareholders&#8217; lists, corporate minutes, financial records and other documents, if (1) Ambev or any of its officers or directors have committed any act contrary to Brazilian law or our bylaws or (2) there are grounds to suspect that there are material irregularities in the Company.&nbsp; However, in either case, shareholders desiring to inspect our corporate records must obtain a court order authorizing the inspection.&nbsp; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Form and Transfer</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazilian law provides that ownership of shares issued by a Brazilian corporation shall generally be evidenced only by a record of ownership maintained by either the corporation or an accredited intermediary, such as a bank, acting as a registrar for the shares.&nbsp; Banco Bradesco S.A. currently maintains our share ownership records.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Because our common shares are in registered book-entry form, a transfer of those shares is made under the rules of the Brazilian Corporation Law, which provides that a transfer of shares is effected by an entry made by the registrar for our shares in its books, by debiting the share account of the transferor and crediting the share account of the transferee.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Transfers of shares by a foreign investor are made in the same way and executed by that investor&#8217;s local agent on the investor&#8217;s behalf, except that, if the original investment was registered with the Central Bank pursuant to foreign investment regulations, the foreign investor should also seek, through its local agent, an amendment of the corresponding electronic registration to reflect the new ownership, if necessary.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The B3 operates a central clearing system.&nbsp; A holder of our common shares may choose, at its discretion, to participate in this system, and all shares elected to be transferred to this system will be deposited in custody with the stock exchange through a Brazilian institution that is duly authorized to operate by the Central Bank and maintains a clearing account with the stock exchange.&nbsp; Our common shares that are subject to custody with the stock exchange will be reflected in our registry of shareholders.&nbsp; Each participating shareholder will, in turn, be registered in our register of beneficial shareholders maintained by the stock exchange and will be treated in the same way as registered shareholders.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Disclosure of Principal Shareholders</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Under Brazilian law, shareholders owning more than 5% of a company&#8217;s voting shares must publicly disclose their shareholder ownership, as well as disclose any 5% increase or decrease.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">With the issuance of CVM Rule 568/15, the CVM has amended CVM Rule No. 358/02 dealing with disclosure requirements of significant interests in Brazilian corporations.&nbsp; These amendments provided for, among other things: (1) the change in the form of calculation of trades of relevant equity interests to determine when a disclosure obligation of those trades is triggered, and (2) the regulation of individual investment plans.&nbsp;&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Individual investment plans for direct or indirect controlling shareholders, members of any statutory governing bodies of a corporation, as well as any persons who, due to their responsibility, function or position in a listed company, its controlling company, subsidiaries or affiliates have potential access to insider information, are </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">now allowed, subject to certain requirements, to trade in the company&#8217;s shares during certain periods during which such trading was previously prohibited.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">CVM Rule No. 568/15 amended CVM Rule No. 358/02 in order to also require publicly held corporations to disclose monthly information of trades in their own securities executed by them or their affiliates. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Other Significant Provisions of the Brazilian Corporation Law</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Brazilian Corporation Law, as applicable to us, also requires the following:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">upon a disposition of our control, the acquirer is required to launch a tender offer to purchase all minority voting shares at a price equal to at least 80% of the price per share paid for the controlling stake;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">our delisting is subject to an administrative proceeding before the CVM, having as a condition the launching of a tender offer by the controlling shareholder or us for the acquisition of all our outstanding shares (defined as those owned by shareholders other than the controlling shareholder, officers and directors) at their fair value, as determined by an independent appraiser.&nbsp; Shareholders holding more than two-thirds of the free float of shares must accept the tender offer or must expressly agree with the delisting (for this purpose, the free float of shares must be considered those held by shareholders that have either accepted the delisting or the offer);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">in addition, if a controlling shareholder or group of controlling shareholders acquires additional shares in excess of one-third of the free float of shares in any class, a mandatory tender offer to ensure share dispersion is required for all the outstanding shares in that class.&nbsp; The same requirement applies whenever (1) a shareholder or group of shareholders representing the same interest and holding more than 50% of the shares in any class from March 7, 2002 (when CVM Rule No. 361/02 became effective, except for public companies existing in September 5, 2000, in which case this date will prevail), acquires a further interest of 10% or more of that same class of shares within a 12-month period and (2) the CVM determines, within six months after being informed, that the acquisition restricts the liquidity of the shares;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">upon the occurrence of a tender offer aimed at delisting a company or through which the controlling shareholders will acquire more than one-third of the free float shares, the purchase price shall be equal to the fair value of the shares considering the total number of outstanding shares;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">members of our Board of Directors elected by noncontrolling shareholders have the right to veto the choice of the independent appraiser by the Board;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">our controlling shareholders, the shareholders that elect members to our Board of Directors or Fiscal Council, the members of our Board of Directors and Fiscal Council, and our executive officers are required to disclose any purchase or sale of our shares to the CVM and to the B3; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">the chairman of any shareholders&#8217; meeting or directors shall disregard any vote that is rendered against provisions of any shareholders&#8217; agreement if that shareholders&#8217; agreement has been duly filed with us, as is the case with our Shareholders&#8217; Agreement.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Material Contracts </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In addition to the contracts described in other sections of this annual report, the following is a summary of the material contracts to which we are a party.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Shareholders&#8217; Agreement</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">See &#8220;Item 7. Major Shareholders and Related Party Transactions&#8212;A. Major Shareholders&#8212;Ambev&#8217;s Major Shareholders&#8212;Ambev Shareholders&#8217; Agreement&#8221; and &#8220;Item 7. Major Shareholders and Related Party Transactions&#8212;A. Major Shareholders&#8212;Ambev&#8217;s Major Shareholders&#8212;The 2019 Shareholders&#8217; Agreement.&#8221;</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Acquisitions, Dispositions and Joint Ventures</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have discussed the details of some material acquisitions and agreements related thereto in &#8220;Item 4. Information on the Company&#8212;A. History and Development of the Company.&#8221;&nbsp; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Licensing Agreements</FONT></I></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Pepsi </FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">See &#8220;Item 4. Information on the Company&#8212;B. Business Overview&#8212;Licenses&#8212;Pepsi.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Licensing Agreements with ABI</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">See &#8220;Item 4. Information on the Company&#8212;B. Business Overview&#8212;Licenses&#8212;Licensing Agreements with ABI.&#8221; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Tax Benefits </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Many states in Brazil offer tax benefits programs to attract investments to their regions.&nbsp; We participate in ICMS Value-added Tax Credit Programs offered by various Brazilian states which provide (1) tax credits to offset ICMS Value-Added Tax payables and (2) ICMS Value-Added Tax deferrals.&nbsp; In return, we are required to meet certain operational requirements including, depending on the state, production volume and employment targets, among others.&nbsp; All of these conditions are included in specific agreements between Ambev and the state governments.&nbsp; In the event that we do not meet the program&#8217;s targets, future benefits may be withdrawn.&nbsp; Also, the State of S&#227;o Paulo has challenged, in the Brazilian Supreme Court, state laws upon which certain of the above benefits have been granted, on the basis that they constitute tax benefits created without certain approvals required under Brazilian tax laws and regulations, which would render such state laws unconstitutional.&nbsp; There is also a controversy regarding whether these benefits are constitutional when granted without the approval of every state of the country.&nbsp; Although the Brazilian Supreme Court has already declared part of the State of Par&#225;&#8217;s&nbsp; tax benefits law unconstitutional, almost every state has specific legislation on this topic and even the State of Par&#225; may still grant benefits which were not included in this decision.&nbsp; Accordingly, as far as the tax benefits are granted based on the state legislation, most companies apply for and use those benefits when granted.&nbsp; On August 8, 2017, Supplementary Law No. 160 was published authorizing the states and the Federal District to revalidate within 180 days the tax benefits allegedly created without the approvals required under Brazilian tax laws and regulations by means of an Interstate Agreement. Under the provisions of Supplementary Law No. 160, Confaz Interstate Agreement No. 190 was published on December 18, 2017, allowing the states to republish and reinstall the state tax benefits created up to August 08, 2017. The validation of such tax incentives, however, is not self-applicable and it depends on the fulfillment of certain conditions by the granting state.&nbsp; See &#8220;Item 5. Operating and Financial Review and Prospects&#8212;B. Liquidity and Capital Resources&#8212;Sales Tax Deferrals and Other Tax Credits&#8221; and &#8220;Item 3. Key Information&#8212;D. Risk Factors.&#8221; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Material Financing Agreements</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For a discussion of our 2021 debentures, see &#8220;Item 5. Operating and Financial Review and Prospects&#8212;B. Liquidity and Capital Resources&#8212;Borrowings&#8212;Long-term Debt.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exchange Controls and other Limitations Affecting Security Holders</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">See &#8220;Item 3. Key Information&#8212;A. Selected Financial Data&#8212;Exchange Rate Information&#8212;Exchange controls.&#8221;</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taxation </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following summary contains a description of the material Brazilian and U.S. federal income tax consequences of acquiring, holding and disposing of common shares or ADSs issued by us.&nbsp; This discussion is not a comprehensive discussion of all the tax considerations that may be relevant to a decision to purchase, hold or dispose of our common shares or ADSs and is not applicable to all categories of investors, some of which may be </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">subject to special rules.&nbsp; Each prospective purchaser is urged to consult its own tax advisor about the particular Brazilian and U.S. tax consequences to it of an investment in our common shares or ADSs.</FONT></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">118</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The summary is based upon tax laws of Brazil and the U.S. and the regulations thereunder, as in effect on the date hereof, which are subject to change (possibly with retroactive effect).&nbsp; Although there is at present no income tax treaty between Brazil and the U.S., the tax authorities of the two countries have entered into a Tax Information Exchange Agreement and have had discussions that may culminate in a treaty.&nbsp; No assurance can be given, however, as to whether or when a treaty will enter into force or of how it will affect the U.S. Holders of our common shares or ADSs.&nbsp; This summary is also based on representations of the depositary and on the assumption that each obligation in the Deposit Agreement relating to our ADSs and the related documents will be performed in accordance with its terms. </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Brazilian Tax Considerations </FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following discussion summarizes the material Brazilian tax consequences of the acquisition, ownership and disposition of our common shares or ADSs by a holder that is not deemed to be domiciled in Brazil for purposes of Brazilian taxation and, in the case of a holder of common shares, which has registered its investment in such securities with the Central Bank as a U.S. dollar investment (in each case, a &#8220;Non-Brazilian Holder&#8221;).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The discussion does not purport to be a comprehensive description of all tax considerations that may be relevant to a decision to purchase our common shares or ADSs.&nbsp; The discussion below is based on Brazilian law as currently in effect.&nbsp; Any change in such law may change the consequences described below.&nbsp; The following discussion does not specifically address all of the Brazilian tax considerations applicable to any particular Non-Brazilian Holder, and each Non-Brazilian Holder should consult his or her own tax advisor concerning the Brazilian tax consequences of an investment in our common shares or ADSs.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Income Tax</FONT></I></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Taxation of Dividends </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Dividends paid by us to The Bank of New York Mellon in respect of the common shares underlying the respective ADSs, or to a Non-Brazilian Holder with respect to our common shares, currently will not be subject to Brazilian withholding income tax provided that they are paid out of profits generated as of January&nbsp;1, 1996. Dividends paid from profits generated before January 1, 1996 may be subject to Brazilian withholding income tax at variable rates according to the tax legislation applicable to each corresponding year.&nbsp; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Taxation of Gains</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Gains realized outside Brazil by a Non-Brazilian Holder on the disposition of assets located in Brazil, including our common shares, to a Brazilian resident or to a non-resident in Brazil, are subject to Brazilian withholding income tax.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Gains realized by a Non-Brazilian Holder on a sale or disposition of our common shares carried out on the Brazilian stock exchange, which includes the transactions carried out on the organized over-the-counter market, are:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">exempt from income tax when realized by a Non-Brazilian Holder that (1) has registered its investment in Brazil with the Central Bank under the rules of CMN Resolution No. 4,373/2014, or a 4,373 Holder, and (2) is not resident or domiciled in a tax haven jurisdiction, as defined below; or</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">in all other cases, subject to income tax at a rate of up to 25%. In addition, a withholding tax&nbsp; of 0.005% of the sale value shall be applicable and withheld by the intermediary institution (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">i.e</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">, a broker) that receives the order directly from the Non-Brazilian Holder, which can be later offset against any income tax due on the capital gain earned by the Non-Brazilian Holder.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Any other gains assessed on a sale or disposition of the shares that is not carried out on a Brazilian stock exchange are subject to withholding tax at a rate of up to 25%. Lower rates may be applicable as provided for in an applicable tax treaty entered into between Brazil and the country where the Non-Brazilian Holder is resident. If </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">these gains are related to transactions conducted on the Brazilian non-organized over-the-counter market with intermediation, a withholding tax of 0.005% on the sale value will also apply and can be used to offset the income tax due on the capital gain.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As of January 2017, Law No. 13,259/2016 increased the income tax rates applicable to gains realized by Brazilian resident individuals on sale or disposition of shares not carried out on a Brazilian stock exchange from a flat tax rate of 15.0% to progressive rates varying from 15% up to 22.5%. The income tax rates recognized by Brazilian individuals&#8217; capital gains would be: (i) 15% for the part of the gain that does not exceed R$5 million, (ii) 17.5% for the part of the gain that exceeds R$5 million but does not exceed R$10 million, (iii) 20% for the part of the gain that exceeds R$10 million but does not exceed R$30 million and (iv) 22.5% for the part of the gain that exceeds R$30 million. These increased income tax rates may also affect Non-Brazilian Holders, except for 4,373 Holders that are not resident or domiciled in tax haven jurisdictions and that carry out a sale or disposition of our common shares in a stock exchange environment, including over-the-counter market, which are still exempt from income tax.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The statutory definition of a tax-haven jurisdiction for the purpose of income taxation on gains should differ depending on whether or not the investment in our common shares or ADSs is registered under CMN Resolution No. 4,373 or under Law No. 4,131.&nbsp; In the case of gains arising from an investment registered under Resolution No. 4,373, a country or location should be defined as a tax-haven jurisdiction when such country or location (a) does not tax income, or (b) taxes income at a rate lower than 20%.&nbsp; In turn, in the case of gains arising from an investment under Law No. 4,131, in addition to criteria (a) and (b) above for the definition of a tax-haven jurisdiction, a country or location should also be considered a tax-haven jurisdiction if the laws of such country or location do not allow access to information related to shareholding composition, to the ownership of investments, or to the identification of the beneficial owner of earnings that are attributed to non-residents.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">On November 28, 2014, the Finance Ministry issued Ordinance No. 488 reducing to 17% the maximum income tax rate that may be imposed by a given jurisdiction for characterization of a tax haven jurisdiction for income tax purposes, as long as the jurisdiction complies with international tax transparency standards. The RFB subsequently issued Normative Instruction No. 1,530/14 providing that compliance with such standards requires: (a) signature of or conclusion of negotiation to sign a treaty or agreement allowing the exchange of information related to identification of income beneficiaries, corporate structure, ownership of goods or rights or economic transactions; and (b) commitment to the criteria defined in international anti-tax evasion forums of which Brazil is a member.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The RFB regularly issues a list of jurisdictions which are considered tax-haven jurisdictions, the &#8220;black-list&#8221;. Such list is currently set forth in Normative Instruction No. 1,037/10, as amended. Please note that the &#8220;black-list&#8221; provided for in Normative Instruction No. 1,037/10 does not seem to differ from the tax haven jurisdiction definition for the purposes of investments registered under CMN Resolution No. 4,373 or under Law No. 4,131.</FONT><SUP><FONT lang=EN-US style="FONT-SIZE: 10pt" face="times new roman">1</FONT></SUP></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 10pt 18pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; VERTICAL-ALIGN: super" face="times new roman">1</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The countries currently included in this list, according to Article 1 of RFB Normative Instruction No. 1,037/10 are: Andorra, Anguilla, Antigua e Barbuda, Aruba, Ascension Islands, Bahamas, Bahrain, Barbados, Belize, Bermuda, British Virgin Islands, Brunei, Campione D&#8217;Italia, Channel Islands (Jersey, Guernsey, Alderney and Stark), Cayman Island, Cura&#231;ao, Cyprus, the Cook Islands, Djibouti, Dominica, United Arab Emirates, Gibraltar, Grenada, Hong Kong, Ireland, Kiribati, Lebanon, Libya, Liberia, Liechtenstein, Macau, Maldives, Man Island, Marshall Island, Mauritius Island, Monaco, Montserrat Island, Nauru, Niue Island, Norfolk Island, Panama, Pitcairn Island, American French Polynesia, Qeshm Island, American Samoa, Western Samoa, San Marino, Saint Helena Island, Santa Lucia, Federation of Saint Christopher and Nevis, Saint Martin, Saint-Pierre e Miquelon, Saint Vincent and the Grenadines, Seychelles, Solomon Island, Swaziland, Sultanate of Oman, Tonga, Tristan da Cunha, Turks and Caicos Islands, Vanuatu and Virgin Islands. In addition, in Article 2 of RFB Normative Instruction No. 1,037/10, U.S. state LLCs held by non-residents and not subject to federal income tax in the U.S. and holding companies without substantial economic activity domiciled in Denmark and Netherlands are listed as tax privileged domiciled entities, as well as: (1) Financial Investment Companies of Uruguay (<I>Sociedades Financeiras de Invers&#227;o</I>), (2) Holding companies domiciled in Denmark, Netherlands and Austria, which do not develop &#8220;substantial economic activities,&#8221; as defined by the single paragraph of Article 2, (3) International Trading Company (ITC) domiciled in Iceland, (4) <I>Entidad de Tenencia de Valores Extranjeros</I> (ETVEs) of Spain, (5) the International Trading Companies (ITC) and International Holding Companies (IHC) domiciled in Malta, (6) Limited Liability Company (LLC) of United States of America and (7) the Holding Company, Domiciliary Company, Auxiliary Company, Mixed Company and Administrative Company domiciled in Switzerland subject to Federal, Cantonal and Municipal income tax at a combined rate lower than 20%, (8) companies in the Free Trade Zone of Costa Rica, (9) companies in the International Business Center of Madeira Island in Portugal, (10) and the following special regimes provided for the Singapore legislation: (i) special rate of tax for non-resident shipowner or charterer or air transport undertaking; (ii) exemption and concessionary rate of tax for insurance and reinsurance business; (iii) concessionary rate of tax for Finance and Treasury Centre; (iv) concessionary rate of tax for trustee company; (v) concessionary rate of tax for income derived from debt securities; (vi) concessionary rate of tax for global trading company and qualifying company); (vii) concessionary rate of tax for financial sector incentive company; (viii) concessionary rate of tax for provision of processing services for financial institutions; (ix) concessionary rate of tax for shipping investment manager; (x) concessionary rate of tax for trust income to which beneficiary is entitled; (xi) concessionary rate of tax for leasing of aircraft and aircraft engines; (xii) concessionary rate of tax for aircraft investment manager; (xiii) concessionary rate of tax for container investment enterprise; (xiv) concessionary rate of tax for container investment manager; (xv) concessionary rate of tax for approved insurance brokers; (xvi) concessionary rate of tax for income derived from managing qualifying registered business trust or company; (xvii) concessionary rate of tax for ship broking and forward freight agreement trading; (xviii) concessionary rate of tax for shipping-related support services; (xix) concessionary rate of tax for income derived from managing approved venture company; and (xx) concessionary rate of tax for international growth company. Netherlands was temporarily removed from the list, in 2010, and then re-included in the list, in 2015. The effects of the inclusion of the ETVE regime in the list were suspended by RFB Declaratory Act No. 22/2010, due to a review request presented by the Spanish government to Brazilian authorities.</FONT></P><FONT lang=PT-BR></FONT></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We understand that ADSs are not assets located in Brazil for the purposes of the above-mentioned taxation on gains.&nbsp; However, we are unable to predict how Brazilian courts would view this issue, and to date, we are not aware of any judicial or administrative precedent on this specific matter.&nbsp; The withdrawal of ADSs in exchange for shares is not subject to Brazilian income tax, as far as the regulatory rules in respect to the registration of the investment before the Central Bank are duly observed.&nbsp; The deposit of the shares in connection with the issuance of ADSs is not subject to Brazilian tax, provided that the shares are registered under Resolution No. 4,373 and the investor is not located in a tax-haven jurisdiction, considering the definition described above.&nbsp; There is a special taxation system applicable to Non-Brazilian Holders (provided investments are duly registered under Resolution No. 4,373 and with the CVM and other conditions are fulfilled).&nbsp; Upon receipt of the underlying shares, a Non-Brazilian Holder who qualifies under Resolution No. 4,373 will be entitled to register the U.S. dollar value of such shares with the Central Bank as described below.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As a general rule, the &#8220;gain realized&#8221; as a result of a transaction on a Brazilian stock exchange and the &#8220;gain realized&#8221; as a result of a transaction with shares which are registered under a Law No. 4,131 is the difference between the amount in Brazilian currency realized on the sale or exchange of the shares and their acquisition cost, without any correction for inflation. These gains will accordingly be subject to tax at a rate of up to 25%.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">There can be no assurance that the current preferential treatment for holders of ADSs and Non-Brazilian Holders of shares under Resolution No. 4,373 will continue in the future or that it will not be changed in the future.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Any exercise of preemptive rights relating to the Ambev common shares or ADSs will not be subject to Brazilian taxation.&nbsp; Gains on the sale of preemptive rights relating to the shares will be treated differently for Brazilian tax purposes depending on (1) whether the sale is made by The Bank of New York Mellon or the investor and (2) whether the transaction takes place on a Brazilian stock exchange.&nbsp; Gains on sales made by the depositary on a Brazilian stock exchange are not taxed in Brazil, but gains on other sales may be subject to tax at rates of up to 25%.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Distributions of Interest on Shareholders&#8217; Equity</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In accordance with Law No. 9,249, dated December 26, 1995, Brazilian corporations may make payments to shareholders characterized as distributions of interest on their shareholders&#8217; equity.&nbsp; Such interest is calculated by </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">multiplying the TJLP, as determined by the Central Bank from time to time, by the sum of the determined Brazilian company&#8217;s net equity accounts.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Distributions of interest on shareholders&#8217; equity in respect of the Ambev common shares paid to shareholders who are either Brazilian residents or non-Brazilian residents, including holders of ADSs, are subject to Brazilian withholding tax at the rate of 15% or 25% if the payee is domiciled in a tax-haven jurisdiction.&nbsp; In this case, of interest on shareholders&#8217; equity, a payee&#8217;s country or location should be deemed a tax-haven jurisdiction when (a) such country or location does not tax income, (b) such country or location taxes income at a rate lower than 20%, or (c) the laws of such country or location do not allow access to information related to shareholding composition, to the ownership of investments, or to the identification of the beneficial owner of earnings that are attributed to non-residents.&nbsp; As explained in &#8220;&#8212;Taxation of Gains,&#8221; the RFB reduced to 17% the maximum income tax rate that may be imposed by a given jurisdiction for the purpose of characterization of a tax-haven jurisdiction, as long as the country complies with international tax transparency standards.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The amounts paid as distribution of interest on shareholders&#8217; equity are deductible from the taxable basis of the corporate income tax and social contribution on net profits, both of which are taxes levied on our profits, as long as the payment of a distribution of interest is approved at a general meeting of shareholders of the Company.&nbsp; The amount of such deduction cannot exceed the greater of:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">50% of net income (after social contribution on net profits, and before taking such distribution and any deductions for corporate income tax into account) for the period in respect of which the payment is made; or</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">50% of the sum of retained earnings and profit reserves as of the initial date of the period in respect of which the payment is made.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The distribution of interest on shareholders&#8217; equity may be determined by the Board of Directors.&nbsp; No assurance can be given that the Board of Directors will not determine that future distributions of profits may be made by means of interest on shareholders&#8217; equity instead of by means of dividends.&nbsp; These payments of interest on shareholders&#8217; equity may be included, at their net value, as part of any mandatory dividend. To the extent payment of interest on shareholders&#8217; equity is so included, the corporation may be required to distribute to shareholders an additional amount to ensure that the net amount received by them, after payment of the applicable withholding income tax, plus the amount of declared dividends is at least equal to the mandatory dividend.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">There are discussions in Congress regarding possible changes to the tax treatment of interest on shareholders&#8217; equity from time to time.&nbsp; In particular, a recent provisional measure (Provisional Measure No. 694) that was not timely voted by Congress for conversion into definitive legislation proposed to reduce the deductibility limits of interest on shareholders&#8217; equity and increase the withholding income tax rate on interest on shareholders&#8217; equity paid or credited to Non-Brazilian Holders located outside a tax haven jurisdiction. There can be no assurance that another provisional measure will not be issued seeking to implement similar changes as those proposed by expired Provisional Measure No. 694.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Other Relevant Brazilian Taxes</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">There are no Brazilian inheritance, gift or succession taxes applicable to the ownership, transfer or disposition of shares or ADSs by a Non-Brazilian Holder except for gift and inheritance taxes which may be levied by some states of Brazil.&nbsp; There currently are no Brazilian stamp, issue, registration or similar taxes or duties payable by holders of shares or ADSs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Brazilian law imposes a Tax on Foreign Exchange Transactions, or &#8220;IOF/Exchange,&#8221; on the conversion of </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> into foreign currency and on the conversion of foreign currency into </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">reais</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.&nbsp; As from October 7, 2014, the general IOF/Exchange rate applicable to almost all foreign currency exchange transactions was increased from zero to 0.38%, although other rates may apply in particular operations, such as:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">inflow related to transactions carried out in the Brazilian financial and capital markets, including investments in our common shares by investors which register their investment under Resolution No. 4,373, zero;</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">outflow related to the return of the investment mentioned
under the first bulleted item above, zero; and</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">outflow related to the payment of dividends and interest
on shareholders&#8217; equity in connection with the investment mentioned under the
first bulleted item above, zero.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Notwithstanding these
rates of the IOF/Exchange, in force as of the date hereof, the Minister of
Finance is legally entitled to increase the rate of the IOF/Exchange to a
maximum of 25% of the amount of the currency exchange transaction, but only on a
prospective basis.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Tax on Transactions
Involving Bonds and Securities, or &#8220;IOF/Bonds&#8221; may be levied on transactions
involving shares, even if the transactions are effected on Brazilian stock,
futures or commodities exchanges.&nbsp; IOF/Bonds may also be levied on
transactions involving ADSs if they are considered assets located in Brazil by
the Brazilian tax authorities.&nbsp; As mentioned in the above discussion on
taxation of gains, we are unable to predict how Brazilian courts would view this
issue, and to date, we are not aware of any judicial or administrative precedent
on this specific matter.&nbsp; As from December 24, 2013, the IOF/Bonds levies
at a rate of zero percent on the transfer (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">cess&#227;o</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">) of shares traded in a Brazilian
stock exchange environment with the specific purpose of enabling the issuance of
depositary receipts to be traded outside Brazil.&nbsp; Previously, a rate of
1.5% was applied to the product of (a) the number of shares which are
transferred, multiplied by (b) the closing price for such shares on the date
prior to the date of the transfer.&nbsp; If no closing price was available on
that date, the last available closing price was adopted.&nbsp; The rate of
IOF/Bonds with respect to other transactions related to shares and ADSs (if
applicable) is currently zero.&nbsp; The Minister of Finance, however, has the
legal power to increase the rate to a maximum of 1.5% of the amount of the taxed
transaction per each day of the investor&#8217;s holding period, but only on a
prospective basis.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Tax
Regime Created by Law No. 12,973 in 2014</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Provisional Measure
627/13 was converted into Law No. 12,973, enacted on May 13, 2014, which revoked
the so-called transitional tax regime (Regime Tribut&#225;rio de Transi&#231;&#227;o - RTT) and
introduced a new tax regime, in line with the current Brazilian accounting
standards (IFRS).&nbsp; According to Law No. 12,973, companies, such as us, that
elected to be taxed under the new regime starting on January 1, 2014, as opposed
to January 1, 2015, will not be subject to taxation on dividend distributions
based on 2014 profits, as established by RFB Normative Instruction No. 1,397/13,
as amended by RFB Normative Instruction No. 1,492/14.&nbsp; Furthermore,
dividends paid by us based on profits are generally not subject to withholding
income tax (see &#8220;&#8212;Income Tax&#8212;Taxation of Dividends&#8221;).</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">United States Federal Income Tax
Considerations</FONT></I></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The following
discussion is a summary of the U.S. federal income tax considerations relating
to the ownership, sale or disposition of our common shares or ADSs.&nbsp; This
summary is based on the Internal Revenue Code of 1986, as amended, or the Code,
its legislative history, existing final, temporary and proposed U.S. Treasury
Regulations, rulings and judicial decisions, all as currently in effect and all
of which are subject to prospective and retroactive changes and differing
interpretations.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">This summary does not
purport to address all U.S. federal income tax consequences that may be relevant
to a particular holder and you are urged to consult your tax advisor regarding
your specific tax situation.&nbsp; The summary applies only to holders who hold
our common shares or ADSs as &#8220;capital assets&#8221; for U.S. federal income tax
purposes (generally, property held for investment).&nbsp; This summary does not
address the tax consequences that may be relevant to holders subject to special
treatment, including, for example:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">insurance companies;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">tax-exempt organizations;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">dealers in securities or currencies;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">traders in securities that elect to use a mark-to-market
method of accounting for their securities holdings;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">banks, mutual funds and other financial
institutions;</FONT></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">partnerships or other pass-through entities treated as such for U.S. federal income tax purposes;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">a person whose functional currency is not the U.S. dollar;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">certain former citizens or long-term residents of the United States;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">S corporations and small business investment companies;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">real estate investment trusts and regulated investment companies;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">holders that hold our common shares or ADSs as part of a&nbsp; hedge, straddle, conversion or other integrated transaction, for U.S. federal income tax purposes;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">holders that own, directly, indirectly or constructively, 10% or more of the total combined voting power of our stock; or</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">holders that acquired their Ambev common shares or ADSs as compensation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">This summary assumes that we are not a passive foreign investment company, or PFIC, for U.S. federal income tax purposes.&nbsp; For further information, see the discussion under &#8220;&#8212;Taxation of U.S. Holders&#8212;Passive Foreign Investment Company (PFIC) Rules&#8221; below.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Further, this summary does not address the 3.8% Medicare tax on certain investment income, the alternative minimum tax consequences of holding Ambev common shares or ADSs, or the indirect consequences to holders of equity interests in entities that own such common shares or ADSs.&nbsp; In addition, this summary does not address the state, local, foreign or other tax consequences, if any, of holding Ambev common shares or ADSs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">You should consult your tax advisor regarding the U.S. federal, state, local and foreign income and other tax consequences of acquiring, owning and disposing of our common shares or ADSs in your particular circumstances.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 18pt; TEXT-INDENT: 0cm"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Taxation of U.S. Holders</FONT></I></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For purposes of this summary, you are a &#8220;U.S. Holder&#8221; if you are a beneficial owner of Ambev common shares or ADSs and you are for U.S. federal income tax purposes:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">a citizen or resident of the United States;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">an entity treated as a corporation for U.S. federal income tax purposes created or organized in or under the laws of the United States or any state thereof, or the District of Columbia;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">an estate the income of which is subject to U.S. federal income tax regardless of its source; or</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 54pt; TEXT-INDENT: -18pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">a trust if (1) a court within the United States is able to exercise primary supervision over its administration and one or more U.S. persons have the authority to control all substantial decisions of the trust or (2) the trust has in effect a valid election to be subject to tax as a U.S. person.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">If a partnership (or an entity or arrangement treated as a partnership for U.S. federal income tax purposes) holds or disposes of Ambev common shares or ADSs, the tax treatment of a partner in that partnership will generally depend upon the status of the partner and the activities of the partnership.&nbsp; A partner in a partnership holding or disposing of Ambev common shares or ADSs should consult its tax advisor regarding the U.S. federal income tax consequences to it of holding or disposing of our securities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">A &#8220;Non-U.S. Holder&#8221; is a beneficial owner of our common shares or ADSs that is not a U.S. Holder and that is not an entity treated as a partnership for U.S. federal income tax purposes.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The discussion below assumes that the representations contained in the ADS deposit agreement are true and that the obligations in the ADS deposit agreement and any related agreements will be complied with in accordance </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">with their terms.&nbsp; In general, for U.S. federal income tax purposes, U.S. Holders who own ADSs will be treated as the beneficial owners of the underlying common shares represented by those ADSs.&nbsp; Accordingly, the surrender of ADSs in exchange for common shares (or vice versa) will not result in the realization of gain or loss for U.S. federal income tax purposes.&nbsp; The rest of this discussion assumes that a holder of an ADS will be treated for U.S. federal income tax purposes as directly holding the underlying common shares.</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Distributions on the Ambev Common Shares or ADSs</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Subject to the discussion below under &#8220;&#8212;Taxation of U.S. Holders&#8212;Passive Foreign Investment Company (PFIC) Rules,&#8221; the gross amount of distributions paid by us to a U.S. Holder (including amounts withheld to pay Brazilian withholding taxes, if any) with respect to our common shares or ADSs (including distributions of interest on shareholders&#8217; equity) will generally be taxable to such U.S. Holder as ordinary dividend income or qualified dividend income (as further described below) to the extent that such distribution is treated as paid out of our current or accumulated earnings and profits (as determined for U.S. federal income tax purposes).&nbsp; Distributions in excess of our current or accumulated earnings and profits will be treated as a non-taxable return of capital reducing such U.S. Holder&#8217;s tax basis in our common shares or ADSs, as applicable.&nbsp; Any distribution in excess of such tax basis will be treated as capital gain and will be either long-term or short-term capital gain depending upon whether the U.S. Holder held our common shares or ADSs, as applicable, for more than one year at the time of the distribution. We do not calculate our earnings and profits under U.S. federal income tax principles.&nbsp; Therefore a U.S. Holder should expect that the entire amount of a distribution will generally be treated as a dividend even if the distribution would otherwise be treated as a non-taxable return of capital or as capital gain under the rules described above.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Dividends received by a U.S. Holder will generally be taxed at ordinary income tax rates.&nbsp; However, a non-corporate U.S. Holder will generally be taxed at the lower rate applicable to qualified dividend income, provided that (1) our common shares or ADSs are &#8220;readily tradable on an established securities market in the United States,&#8221; (2) we are not a PFIC (as discussed below) for either the taxable year in which the dividend is paid or the preceding taxable year, and (3) certain holding period and other requirements are satisfied.&nbsp; For purposes of clause (1) above, we expect the ADSs to be treated as readily tradable on an established securities market in the United States.&nbsp; Consequently, we expect dividends paid with respect to ADSs to constitute &#8220;qualified dividend income&#8221; provided that the other requirements set forth above are satisfied.&nbsp; The Ambev common shares, however, are not expected to be treated as readily tradable on an established securities market in the United States.&nbsp; U.S. Holders are urged to consult their tax advisors regarding the availability of the lower rate for any dividends paid with respect to such shares.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">A U.S. Holder may be entitled, subject to a number of complex rules and limitations, to claim a U.S. foreign tax credit in respect of any Brazilian withholding taxes imposed on distributions received on our common shares or ADSs.&nbsp; U.S. Holders that do not elect to claim a foreign tax credit may instead be entitled to claim a deduction in respect of any such withholdings.&nbsp; Dividends received with respect to our common shares or ADSs will generally be treated as foreign-source income and will generally constitute &#8220;passive income&#8221; for U.S. foreign tax credit limitation purposes.&nbsp; The rules relating to the foreign tax credit are complex and U.S. Holders are urged to consult their tax advisors regarding the availability of the foreign tax credit under their particular circumstances.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Dividends received by a U.S. Holder generally will not be eligible for the dividends received deduction available to certain corporate U.S. Holders.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For U.S. federal income tax purposes, the amount of any cash distribution paid in Brazilian currency will equal the U.S. dollar value of the distribution, calculated by reference to the exchange rate in effect at the time the distribution is received by the depositary (in the case of ADSs) or by the U.S. Holder (in the case of Ambev common shares held directly by such U.S. Holder), regardless of whether the payment is in fact converted to U.S. dollars at that time.&nbsp; A U.S. Holder should not recognize any foreign currency gain or loss if such Brazilian currency is converted into U.S. dollars on the date received.&nbsp; If the Brazilian currency is not converted into U.S. dollars on the date of receipt, however, gain or loss may be recognized upon a subsequent sale or other disposition of the Brazilian currency.&nbsp; Such foreign currency gain or loss, if any, will generally be U.S.-source ordinary income or loss.</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Sale, Exchange or Other Taxable Disposition of Ambev Common Shares or ADSs</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Subject to the discussion below under &#8220;&#8212;Taxation of U.S. Holders&#8212;Passive Foreign Investment Company (PFIC) Rules,&#8221; a U.S. Holder will generally recognize capital gain or loss upon the sale, exchange or other taxable disposition of our common shares or ADSs, measured by the difference between the U.S. dollar value of the amount realized and the U.S. Holder&#8217;s tax basis in those common shares or ADSs.&nbsp; If Brazilian tax is withheld on the sale or disposition, the amount realized by a U.S. Holder will include the gross amount of the proceeds of that sale or disposition before deduction of the Brazilian tax.&nbsp; Any gain or loss will be long-term capital gain or loss if our common shares or ADSs have been held for more than one year at the time of the sale, exchange or other taxable disposition.&nbsp; Long-term capital gains recognized by individuals are currently subject to reduced rates of taxation.&nbsp; The deductibility of capital losses is subject to limitations.&nbsp; Capital gain or loss, if any, realized by a U.S. Holder on the sale, exchange or other taxable disposition of an Ambev common share or ADS, will generally be treated as U.S.-source income or loss for U.S. foreign tax credit purposes.&nbsp; Consequently, in the case of a disposition of an Ambev common share that is subject to Brazilian tax imposed on the gain, or in the case of a deposit of Ambev common shares in exchange for an Ambev ADS that is not registered pursuant to Resolution No. 4,373 on which a Brazilian capital gains tax is imposed (see &#8220;&#8212;Brazilian Tax Considerations&#8212;Income Tax&#8212;Taxation of Gains&#8221;), as the case may be, the U.S. Holder may not be able to benefit from the foreign tax credit for that Brazilian tax, unless the U.S. Holder can apply (subject to applicable limitations) the credit against U.S. tax payable on other income from foreign sources in the appropriate income category.&nbsp; Alternatively, a U.S. Holder may be entitled to take a deduction for the Brazilian tax if such U.S. Holder elects to deduct all of its foreign income taxes.&nbsp; Any Brazilian tax paid by a U.S. Holder that is not eligible for a credit or deduction will be treated as a reduction in the amount of cash received by the U.S. Holder on the sale, exchange or other taxable disposition of our common shares or ADSs and will generally reduce the amount of gain (if any) recognized by the U.S. Holder.&nbsp; The rules relating to the foreign tax credit are complex and U.S. Holders are urged to consult their tax advisors regarding the availability of the foreign tax credit under their particular circumstances.&nbsp; </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Passive Foreign Investment Company (PFIC) Rules</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Special U.S. federal income tax rules apply to U.S. Holders owning shares of a PFIC.&nbsp; In general, a foreign corporation is a PFIC if, for any taxable year in which the U.S. Holder holds stock in the foreign corporation, at least 75% of such corporation&#8217;s gross income is passive income or at least 50% of the value of such corporation&#8217;s assets (determined on the basis of a quarterly average) produce passive income or are held for the production of passive income.&nbsp; The determination of whether our common shares or ADSs constitute shares of a PFIC is a factual determination made annually and thus may be subject to change.&nbsp; Subject to certain exceptions, once a U.S. Holder&#8217;s Ambev common shares or ADSs, as applicable, are treated as shares in a PFIC, they remain shares in a PFIC.&nbsp; In addition, dividends received by a U.S. Holder from a PFIC will not constitute qualified dividend income.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">If we are treated as a PFIC, a U.S. Holder would generally be subject to special rules with respect to (a) any gain realized on the sale or other disposition of Ambev common shares or ADSs and (b) any &#8220;excess distribution&#8221; by us to the U.S. Holder (generally, the part of the distribution during a taxable year that exceeds 125% of the average annual distributions the U.S. Holder received on those common shares or ADSs during the preceding three taxable years or, if shorter, the U.S. Holder&#8217;s holding period for such common shares or ADSs).&nbsp; In addition, if we are classified as a PFIC for any taxable year during which a U.S. Holder owns our common shares or ADSs and any of our non-U.S. subsidiaries is also a PFIC, such U.S. Holder would be treated as owning a proportionate amount (by value) of the shares of each such non-U.S. subsidiary classified as a PFIC for purposes of the application of these rules.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Based upon the nature of our current and projected income, assets and activities, we do not believe that we are a PFIC for U.S. federal income tax purposes for the taxable year ended December 31, 2016 and do not anticipate becoming a PFIC in the foreseeable future.&nbsp; However, we cannot assure you that we will not be considered a PFIC in current or future years.&nbsp; The determination as to whether or not we are a PFIC is a factual determination and cannot be made until the close of the applicable tax year.&nbsp; If we are currently a PFIC or were to become a PFIC, U.S. Holders would be subject to special rules and a variety of potentially adverse tax consequences under the Code.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">If we are treated as a PFIC, certain elections may be available to mitigate the adverse U.S. federal income tax consequences of owning stock in a PFIC.&nbsp; In particular, a U.S. Holder may elect mark-to-market treatment for its common shares or ADSs, provided those common shares or ADSs constitute &#8220;marketable stock&#8221; as defined in U.S. </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Treasury Regulations.&nbsp; In addition, certain information reporting rules may apply if we are treated as a PFIC, such as the requirement to file IRS Form 8621 regarding distributions received on the common shares or ADSs and any gain realized on the disposition of the common shares or ADSs.&nbsp; U.S. Holders are urged to consult their tax advisors regarding the application of the PFIC rules to an investment in our common shares or ADSs.</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm 36pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Reporting Obligations for Certain U.S. Holders</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Certain U.S. Holders that hold certain specified foreign financial assets, including stock in a foreign corporation, with values in excess of certain thresholds are required to file IRS Form 8938 with their federal income tax return.&nbsp; Such Form requires disclosure of information concerning such foreign assets, including the value of the assets.&nbsp; Failure to file the form when required is subject to penalties.&nbsp; An exemption from reporting applies to foreign assets held through a U.S. financial institution, generally including a non-U.S. branch or subsidiary of a U.S. institution and a U.S. branch of a non-U.S. institution.&nbsp; U.S. Holders are encouraged to consult their tax advisors regarding the possible application of this disclosure requirement to their investment in our common shares or ADSs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">THE PRECEDING DISCUSSION OF U.S. FEDERAL INCOME TAX CONSIDERATIONS IS FOR GENERAL INFORMATION ONLY AND IS NOT TAX ADVICE.&nbsp; ACCORDINGLY, EACH INVESTOR SHOULD CONSULT ITS TAX ADVISOR AS TO THE PARTICULAR TAX CONSEQUENCES OF PURCHASING, HOLDING AND DISPOSING OF AMBEV COMMON SHARES OR ADSs, INCLUDING THE APPLICABILITY AND EFFECT OF ANY STATE, LOCAL, FOREIGN OR OTHER TAX LAWS AND OF ANY PROPOSED CHANGES IN APPLICABLE LAW.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends and Paying Agents</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not applicable.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">F.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Statement by Experts</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not applicable.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">G.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Where You Can Find More Information (Documents on Display) </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are subject to the informational reporting requirements of the Exchange Act, and file with or furnish to the SEC, as applicable, the following documents that apply to foreign private issuers:</FONT></P>

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   <TD vAlign=top width="3%"><FONT size=2 face=Symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0pt 0cm 0cm 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">annual reports on Form 20-F;</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0pt 0cm 0cm 0pt; TEXT-INDENT: 0pt"><FONT size=2></FONT>&nbsp;</P></TD></TR>

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   <TD vAlign=top width="3%"><FONT size=2 face=Symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0pt 0cm 0cm 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">certain other reports on Form 6-K containing the information that we make public under Brazilian law, file with the Brazilian stock exchanges or distribute to shareholders; and</FONT></P>

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   <TD vAlign=top width="3%"><FONT size=2 face=Symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>

   <TD vAlign=top width="97%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0pt 0cm 0cm 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face="times new roman">&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=#000000 face="Times New Roman">other information.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0pt 0cm 0cm 0pt; TEXT-INDENT: 0pt"><FONT size=2></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">You may read and copy any reports or other information that we file at the SEC&#8217;s public reference rooms at 100 F Street, NE, Washington, D.C. 20549, and at the SEC&#8217;s regional offices located at Brookfield Place, 200 Vesey Street, Suite 400 New York, New York 10281-1022 and 175 W. Jackson Boulevard, Suite 900, Chicago, Illinois 60604.&nbsp; You may obtain information on the operation of the SEC&#8217;s public reference rooms by calling the SEC at 1-800-SEC-0330.&nbsp; Electronic filings made through the Electronic Data Gathering, Analysis and Retrieval System are also publicly available through the SEC&#8217;s website on the Internet at www.sec.gov.&nbsp; In addition, material filed by us may also be inspected at the offices of the NYSE at 20 Broad Street, New York, New York 10005.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As a foreign private issuer, we are exempt from the rules under the Exchange Act prescribing the furnishing and content of proxy statements and will not be required to file proxy statements with the SEC, and its officers, directors and principal shareholders will be exempt from the reporting and &#8220;short swing&#8221; profit recovery provisions contained in Section 16 of the Exchange Act.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">You may obtain documents from us by requesting them in writing, at the following addresses or by telephone:&nbsp; </FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Ambev S.A.</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Attention:</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Investor Relations Department</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Telephone numbers:</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(55-11) 2122-1415</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(55-11) 2122-1414</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Fax:</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(55-11) 2122-1526</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Email:</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">ir@ambev.com.br</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">You may obtain additional information about us on our website at www.ri.ambev.com.br.&nbsp; The information contained therein is not part of this annual report.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">I.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subsidiary Information</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not applicable.</FONT></P>

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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our activities expose
us to various market risks, including changes in foreign currency exchange rates
and interest rates and changes in the prices of certain commodities, including
malt, aluminum, sugar and corn.&nbsp; Market risk is the potential loss arising
from adverse changes in market rates and prices.&nbsp; We enter into derivatives
and other financial instruments, in order to manage and reduce the impact of
fluctuations in commodity prices, in foreign currency exchange rates and in
interest rates.&nbsp; We have established policies and procedures for risk
assessment and the approval, reporting and monitoring of derivative financial
activities.&nbsp; Decisions regarding hedging are made according to our risk
management policy, taking into consideration the amount and duration of the
exposure, market volatility and economic trends.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">These instruments are
accounted for based on their characteristics.&nbsp; See notes 3 and 27 to our
audited consolidated financial statements for a discussion of the accounting
policies and information on derivative financial instruments.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In order to minimize
the credit risk of its investments, we have cash allocation and investment
policies, taking into consideration financial institution credit limits and
ratings, not allowing credit concentration. Thus, the credit risk is monitored
and minimized because the negotiations are carried out only with a select group
of highly qualified counterparties. The definition of financial institutions
authorized to operate as a counterparty for us is described in our policy, which
establishes maximum exposure limits for each counterparty based on each
counterparty&#8217;s risk rating and capitalization. </FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Enterprise Risk Management (ERM)</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have implemented a
management strategy to promote enterprise-wide risk management (ERM), through an
integrated framework that considers the impact on our business of not only
market risks but also of compliance, strategic and operational risks.&nbsp; We
believe that such integrated framework, which accounts for different kinds of
business risks, enables us to improve management&#8217;s ability to evaluate risks
associated with our business.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The risk management
department is responsible for reviewing and following up with management the
risk factors and related mitigating initiatives consistent with our corporate
strategy. Market risks, such as exposure in foreign currency, interest rates,
commodity prices, liquidity and credit risk arise during the normal course of
our business. We analyze each of these risks both individually and on an
interconnected basis, defining strategies for managing the economic impact on
its performance in line with our financial risk management policy.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Commodity Risk</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We use a large volume
of agricultural goods to produce our products, including malt and hops for our
beer and sugar, guaran&#225;, other fruits and sweeteners for our CSDs.&nbsp; See
&#8220;Item 4. Information on the Company&#8212;B. Business Overview&#8212;Sources and
Availability of Raw Materials.&#8221;&nbsp; We purchase a significant portion of our
malt and all of our hops outside of Brazil.&nbsp; We purchase the remainder of
our malt and our sugar, guaran&#225; and other fruits and sweeteners locally.&nbsp;
Ambev also purchases substantial quantities of aluminum cans.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We produce
approximately 83% of our consolidated malt needs.&nbsp; The remainder and all
other commodities are purchased from third parties.&nbsp; We believe that
adequate supplies of the commodities we use are available at the present time,
but we cannot predict the future availability of these commodities or the prices
we will have to pay for such commodities.&nbsp; The commodity markets have
experienced and will continue to experience price fluctuations.&nbsp; We believe
that the future price and supply of agricultural materials will be determined
by, among other factors, the level of crop production, weather conditions,
export demand, and government regulations and legislation affecting agriculture,
and that the price of aluminum and sugar will be largely influenced by
international market prices.&nbsp; See &#8220;Item 4. Information on the Company&#8212;B.
Business Overview&#8212;Sources and Availability of Raw Materials.&#8221;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">All of the hops we
purchase in the international markets outside of South America are paid for in
U.S. dollars.&nbsp; In addition, although we purchase aluminum cans and sugar in
Brazil, their prices are directly influenced by the fluctuation of international
commodity prices.</FONT></P>
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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As of December 31,
2017, our derivative activities consisted of sugar, wheat, aluminum, heating
oil, natural gas, corn and resin derivatives.&nbsp; The table below provides
information about our significant commodity risk sensitive instruments as of
December 31, 2017.&nbsp; The contract terms of these instruments have been
categorized by expected maturity dates and are measured at market prices.
</FONT></P>
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    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="79%" colSpan=8>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Maturity Schedule of Commodities Derivatives as of
      December 31, 2017</FONT></B></P></DIV></TD></TR>
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      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Derivatives Instruments</FONT></B></P></DIV></TD>
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      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2018</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2019</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2020</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2021</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2022</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Thereafter</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Total</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Fair Value</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="79%" colSpan=8>
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(in R$ million, except price per
      ton/gallon/barrel/gigajoule)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Sugar
      Derivatives:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional
      Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">195.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">88.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">284.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(47.1)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Price
      (R$/ton)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,104.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,144.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,116.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Wheat
      Derivatives:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional
      Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">221.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">221.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(4.5)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Price
      (R$/ton)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">521.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">521.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Aluminum
      Derivatives:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,081.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,083.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">143.5</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Price
      (R$/ton)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5,968.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">921.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5,896.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Heating Oil
      Derivatives:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional
      Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">42.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">42.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">12.7</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Price
      (R$/gallon)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9.9</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Natural
      Gas:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional
      Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2.7)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Price
      (R$/GJ)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5.7</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Corn
      Derivatives:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">62.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">62.2</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1.8)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Price
      (R$/ton)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">504.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">504.8</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Resin
      Derivatives:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">250.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">4.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">254.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(4.2)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="21%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Price
      (R$/ton)</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,305.1</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5,834.3</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,324.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR></TABLE></DIV>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Interest Rate Risk</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We use interest rate
swap instruments to manage interest risks associated with changing rates.&nbsp;
The differential to be paid or received is accrued as interest rates change and
is recognized in interest income or expense, respectively, over the life of the
particular contracts.&nbsp; We are exposed to interest rate volatility with
respect to our cash and cash equivalents, current investment securities and
fixed and floating rate debt.&nbsp; Our U.S. dollar-denominated cash equivalents
generally bear interest at a floating rate.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are exposed to
interest rate volatility with regard to existing issuances of fixed rate debt,
existing issuances of floating rate debt, currency future and forward swaps
agreements, cash and cash equivalents and current investment securities.&nbsp;
We manage our debt portfolio in response to changes in interest rates and
foreign currency rates by periodically retiring, redeeming and repurchasing debt
and using derivative financial instruments.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The table below
provides information about our significant interest rate sensitive
instruments.&nbsp; For variable interest rate debt, the rate presented is the
weighted average rate calculated as of December 31, 2017.&nbsp; The contract
terms of these instruments have been categorized by expected maturity
dates:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="71%" colSpan=7>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Maturity Schedule of Debt Portfolio as of December
      31, 2017</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Debt Instrument</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2018</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2019</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2020</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2021</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2022</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Thereafter</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Total</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="71%" colSpan=7>
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in R$ million, except
      percentages)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">International
      Debt:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Other Latin
      America Currency Floating Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">4.96
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">4.96
    </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Average Pay
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2.3%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2.3%
    </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Other Latin
      America Currency <BR>Fixed Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">199.1
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">199.1
    </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Average Pay
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">9.3%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">9.3%
    </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">US$ Fixed
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">6.5
</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">16.4
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">22.9
    </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Average Pay
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2.2%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">4.5%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">3.8%
    </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">US$ Floating
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">78.2
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">477.0
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">555.3
    </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Average Pay
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">4.0%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2.5%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2.7%
    </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">CAD Floating
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">685.9
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">685.9
    </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Average Pay
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">0.5%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">- </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">0.5%
    </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Reais</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"> Denominated Debt Floating
      Rate &#8211; TJLP &amp; TR:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 6pt 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 6pt 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 6pt 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 6pt 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 6pt 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 6pt 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 6pt 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Notional
      Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">164.7
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">74.3
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">9.6</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">10.0
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">10.8
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">133.0
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">402.3
    </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">TJLP &amp; TR +
      Average Pay Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">9.1%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">9.1%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">9.4%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">9.4%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">9.4%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">9.4%
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">9.2%
    </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Reais Debt - ICMS
      Fixed Rate:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Notional
      Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">38.4 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">27.0 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">19.7 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">7.8 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">3.8 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">33.2 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">129.9 </FONT></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Average Pay
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">5.6% </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">5.6% </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">5.6% </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">5.6% </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">5.6% </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">5.6% </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">5.6% </FONT></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Reais</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"> Debt - Fixed
      Rate:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Notional
      Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">148.3
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">129.4
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">48.2
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">147.7
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">43.5
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">35.7
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">552.7
    </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Average Pay
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">5.6%</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">5.5%</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">4.0%</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">11.2%</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">3.5%</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">3.6%</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">6.6%</FONT></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Total
      Debt</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">1,321.1 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">724.1 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">82.4 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">165.5 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">58.0</FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">201.9 </FONT></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: right; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2,553.0 </FONT></P></DIV></TD></TR></TABLE></DIV>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">130</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_140></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%" colSpan=7>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Maturity Schedule of Cash Instruments as of
      December 31, 2017</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Cash Instrument</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2018</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2019</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2020</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2021</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2022</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Thereafter</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Total</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="70%" colSpan=7>
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">(in R$ million, except
      percentages)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">US$-Denominated
      Cash and Cash Equivalents:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Notional</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2,405.6
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">2,405.6
      </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Average Interest
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">1.2%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">1.2%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Reais</FONT></I></B><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">-Denominated Cash and Cash
      Equivalents:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Notional</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">3,948.9
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">3,948.9
      </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Average Interest
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">6.6%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">6.6%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">C$-Denominated
      Cash and Cash Equivalents:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Notional
      Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">561.5
    </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">561.5
    </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Average Pay
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">0.8%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">0.8%</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Other Latin
      American Currency investments:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 9pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Notional
      Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">3,436.7
      </FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">3,436.7
      </FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="30%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Total</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">10,352.7</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">10,352.7</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%" colSpan=8>
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Maturity Schedule of Interest Rate Derivatives as
      of December 31, 2017</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="20%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Derivatives Instruments</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2018</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2019</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2020</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2021</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2022</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Thereafter</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Total</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Fair Value</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%" colSpan=8>
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(in R$ million, except
      percentages)</FONT></I></B></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">BM&amp;F DI
      Futures:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional
Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">15.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(0.0)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Interest
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">11.2%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">11.2%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">FIXED x
      CDIIRS(2):</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional
Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">110.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">110.0</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">25.0</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Interest
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6.9%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">6.9%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">FIXED x
    TJLP:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional
Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">97.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">97.4</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1.8)</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Interest
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">7.5%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">7.5%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 5pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">FIXED x
TR:</FONT></B></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional
Amount</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">149.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">149.5</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5.0</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="20%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Interest
      Rate</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.2%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.2%</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR></TABLE></DIV>
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<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Negative notional amounts
represent an excess of liabilities over assets at any given moment.</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(2)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Interest rate swap.</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">131</FONT></P>
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   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_141"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Part of the floating rate debt accrues interest at TJLP.&nbsp; During the period set forth below the TJLP was:</FONT></P>

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<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2017</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2015</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4th Quarter</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.00</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.50</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.00</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3rd Quarter</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.00</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.50</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.50</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2nd Quarter</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.00</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.50</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.00</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="64%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1st Quarter</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.50</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.50</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.50</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have not experienced, and do not expect to experience, difficulties in obtaining financing or refinancing existing debt.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Foreign Exchange Risk</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We are exposed to fluctuations in foreign exchange rate movements because a significant portion of our operating expenses, in particular those related to hops, malt, sugar, aluminum and corn, are also denominated in or linked to the U.S. dollar.&nbsp; We enter into derivative financial instruments to manage and reduce the impact of changes in foreign currency exchange rates in respect of our U.S. dollar-denominated debt.&nbsp; From January 1, 2015, until December 31, 2017, the U.S. dollar appreciated 24.5% against the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">, and, as of December 31, 2017, the commercial market rate for purchasing U.S. dollars was R$3.308 per US$1.00.&nbsp; The U.S. dollar appreciated against the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"> by 47.0% in 2015. In 2016, the U.S. dollar depreciated 16.5% against the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">. In 2017, the U.S. dollar appreciated 1.5% against the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">real</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our foreign currency exposure gives rise to market risks associated with exchange rate movements, mainly against the U.S. dollar.&nbsp; Foreign currency-denominated liabilities at December 31, 2017, included debt of R$1,468.1 million.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As of December 31, 2017, derivative activities consisted of foreign currency forward contracts, foreign currency swaps and future contracts.&nbsp; The table below provides information about our significant foreign exchange rate risk sensitive instruments as of December 31, 2017.&nbsp; The contract terms of these instruments have been categorized by expected maturity dates. </FONT></P>

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<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="79%" colSpan=8>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Maturity Schedule of Foreign Exchange Derivatives as of December 31, 2017</FONT></B></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="21%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Derivatives Instruments(1)</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2018</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2019</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2020</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2021</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2022</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Thereafter</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Total</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="9%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Fair Value</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="79%" colSpan=8>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(in R$ million, except Unit Price)</FONT></I></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">BM&amp;F Dollar Futures:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,117.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2,117.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(4.0)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Unit Price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">NDF R$ x US$:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,628.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3,628.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">54.5</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Unit Price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">FDF C$ x US$:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">805.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">805.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(20.9)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Unit Price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">NDF INR x C$:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">8.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">8.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.0</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Unit Price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">51.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">51.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">FDF C$ x EUR:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">82.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">82.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2.8</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Unit Price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">NDF MXN x R$:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">28.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">28.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(0.4)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Unit Price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">NDF ARS x US$:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,075.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">1,075.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">9.0</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Unit Price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">19.7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">19.7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">NDF CLP x US$:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">594.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">594.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(46.2)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Unit Price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">665.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">665.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">NDF UYU x US$:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">133.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">133.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(7.8)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Unit Price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">31.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">31.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">NDF BOB x US$:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">180.7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">180.7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1.8)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Unit Price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">7.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">7.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">NDF PYG x US$:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">358.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">358.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(13.4)</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Unit Price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5,934.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">5,934.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">BM&amp;F Euro Futures:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">47.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">47.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">0.1</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Unit Price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">NDF MXN x US$:</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">140.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">3.6</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">143.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">23.8</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Unit Price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">19.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">20.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">19.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">NDF CLP x MXN:</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="21%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">229.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">229.8</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(21.3)</FONT></P></TD></TR>

<TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Unit Price</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">33.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">33.1</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">132</FONT></P>

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   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_142"></A>

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<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Negative notional amounts represent an excess of liabilities over assets at any given moment.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Equity Swap Risk </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We established several share-based payment programs that allow our directors, officers and certain other employees to receive share-based compensation under certain conditions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As part of these programs, our board of directors approved equity swap transactions on May 16, 2017 and December 21, 2017, respectively, pursuant to which we will receive any price variation related to the difference between the strike price and the trading price of our shares or ADRs at the maturity of the swap. &nbsp;Ambev will pay CDI or Libor plus a fee over the notional value of the transaction. The objective of the transaction is to neutralize the possible effects of the stock prices&#8217; oscillation, considering our share-based payment programs as eventual share price increases would result in a positive gain on the equity swap transaction mitigating the higher cost of purchasing shares in the market to deliver to the employees and vice versa. As these derivative instruments are not characterized as hedge accounting they were not therefore designated to any hedge.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The contracts approved on December 21, 2017 may result in an exposure of up to 44 million common shares (of which all or part may be through ADRs), with a value of up to R$820 million and, together with the balance of the agreements executed in the context of the approval of May 16, 2017 and not yet settled, may result in an exposure of up to 80 million common shares. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In December 2017, an exposure equivalent to R$2.3 billion in our shares (or ADR&#8217;s) was partially hedged, resulting in a gain in income statement of R$67.0 million.</FONT></P>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">133</FONT></P>

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   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_143"></A>

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   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Maturity Schedule of Equity Swap Derivatives as of December 31, 2017</FONT></B></P></DIV></TD></TR>

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   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Derivatives Instruments</FONT></B></P></DIV></TD>

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   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2018</FONT></B></P></DIV></TD>

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   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2019</FONT></B></P></DIV></TD>

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   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2020</FONT></B></P></DIV></TD>

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   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2021</FONT></B></P></DIV></TD>

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   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">2022</FONT></B></P></DIV></TD>

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   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Thereafter</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Total</FONT></B></P></DIV></TD>

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   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Fair Value</FONT></B></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%" colSpan=8>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(in R$ million, except Unit Price)</FONT></I></B></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Equity Swap:</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Notional Amount</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">677.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">677.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">69.2</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="20%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">Average Unit Price (R$/Share)</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">19.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">19.0</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman"></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">134</FONT></P>

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   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_144"></A>

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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM 12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Debt Securities</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not Applicable.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants and Rights</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not Applicable.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Securities</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not Applicable.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; American Depositary Shares </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Bank of New York Mellon, or the Depositary, is the depositary of the Ambev shares in accordance with the Deposit Agreement, dated July 9, 2013, entered into among Ambev, The Bank of New York Mellon, as depositary, and all owners from time to time of ADSs of Ambev, or the Depositary Agreement.&nbsp; A copy of this Depositary Agreement is filed as an exhibit to this annual report on Form 20&#8722;F.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Depositary collects its fees for delivery and surrender of ADSs directly from investors depositing shares or surrendering ADSs for the purpose of withdrawal or from intermediaries acting for them.&nbsp; The Depositary collects fees for making distributions to investors by deducting those fees from the amounts distributed or by selling a portion of distributable property to pay the fees.&nbsp; The Depositary may collect its annual fee for depositary services by deduction from cash distributions or by directly billing investors or by charging the book-entry system accounts of participants acting for them.&nbsp; The Depositary may collect any of its fees by deduction from any cash distribution payable to ADS holders that are obligated to pay those fees.&nbsp; The Depositary may generally refuse to provide fee-attracting services until its fees for those services are paid.&nbsp; Pursuant to the Depositary Agreement, holders of our ADSs may have to pay to The Bank of New York Mellon, either directly or indirectly, fees or charges up to the amounts set forth in the table below. </FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Persons depositing or withdrawing shares or ADS holders must pay:</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For:</FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">US$5.00 (or less) per 100 ADSs (or portion of 100 ADSs)</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">issuance of ADSs, including issuances resulting from a distribution of shares, rights or other property; and</FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="45%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">cancellation of ADSs for the purpose of withdrawal, including if the deposit agreement terminates.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">US$0.02 (or less) per ADS</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">any cash distribution to ADS holders.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">A fee equivalent to the fee that would be payable if securities distributed to you had been shares and the shares had been deposited for issuance of ADSs </FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="45%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">distribution of securities distributed to holders of deposited securities which are distributed by the Depositary to ADS holders.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">US$0.02 (or less) per ADSs per calendar year </FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="45%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">depositary services.</FONT></P></TD></TR>

<TR>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Registration or transfer fees</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="45%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">transfer and registration of shares on Ambev&#8217;s share registry to or from the name of the Depositary or its agent when you deposit or withdraw shares.</FONT></P></TD></TR>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="45%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Expenses of the Depositary</FONT></P></TD>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="45%">

   <P style="TEXT-ALIGN: left; MARGIN: 0pt 0cm" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">cable, telex and facsimile transmissions (when expressly provided in the deposit agreement); and</FONT></P>

   <P style="TEXT-ALIGN: left; MARGIN: 10pt 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">converting foreign currency to U.S. dollars.</FONT></FONT></P></TD></TR>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="45%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Taxes and other governmental charges the Depositary or the Custodian may have to pay on any ADS or share underlying an ADS, for example, stock transfer taxes or stamp duty (which currently are inapplicable in Brazil) or withholding taxes</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="45%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">as necessary.</FONT></P></TD></TR>

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   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="45%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Any charges incurred by the Depositary or its agents for servicing the deposited securities</FONT></P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="10%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="45%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">as necessary.</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">135</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In performing its duties under the Deposit Agreement, the Depositary may use brokers, dealers or other service providers that are affiliates of the Depositary and that may earn or share fees or commissions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Subject to certain terms and conditions, the Depositary has agreed to reimburse us for certain expenses it incurs that are related to establishment and maintenance expenses of the ADS program, including the standard out-of-pocket maintenance costs for the ADRs, which consist of the expenses of postage and envelopes for mailing annual and interim financial reports, printing and distributing dividend checks, electronic filing of U.S. federal tax information, mailing required tax forms, stationery, postage, facsimile, and telephone calls.&nbsp; There are limits on the amount of expenses for which the Depositary will reimburse us, but the amount of reimbursement available to us is not necessarily tied to the amount of fees the depositary collects from investors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Depositary has made payments to us in the amount of US$2.9 million during 2017.&nbsp; These amounts were used for general corporate purposes such as the payment of costs and expenses associated with (1) the preparation and distribution of proxy materials, (2) the preparation and distribution of marketing materials and (3) consulting and other services related to investor relations.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><A name="_Toc506645692"></A></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">136</FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">PART II</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name="_Toc506645693"></A><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM 13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DEFAULT, DIVIDENDS ARREARAGES AND DELINQUENCIES</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not Applicable.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm 10pt 72pt; TEXT-INDENT: -72pt"><A name="_Toc506645694"></A></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">137</FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm 10pt 72pt; TEXT-INDENT: -72pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF
PROCEEDS</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not
Applicable.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name=_Toc506645695></A></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">138</FONT></P></DIV>
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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
CONTROLS AND PROCEDURES&nbsp; </FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Disclosure Controls and Procedures</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company has
carried out an evaluation, as of December 31, 2017, of the effectiveness of the
design and operation of the Company&#8217;s disclosure controls and procedures under
the supervision and with the participation of the Company&#8217;s management, which is
responsible for the management of the internal controls, including the Chief
Executive Officer and Chief Financial Officer.&nbsp; While there are inherent
limitations to the effectiveness of any system of disclosure controls and
procedures, including the possibility of human error and the circumvention or
overriding of the controls and procedures, the Company&#8217;s disclosure controls and
procedures are designed to provide reasonable assurance of achieving their
objectives.&nbsp; Based upon the Company&#8217;s evaluation, as of December 31, 2017,
the Chief Executive Officer and Chief Financial Officer of the Company have
concluded that the disclosure controls and procedures are (1) effective at the
reasonable assurance level in ensuring that information required to be disclosed
in the reports that are filed or submitted under the Exchange Act, is recorded,
processed, summarized and reported within the time periods specified in the
Commissions&#8217; rules and forms and (2) effective at the reasonable assurance level
in ensuring that information to be disclosed in the reports that are filed or
submitted under the Exchange Act is accumulated and communicated to the
management of the Company, including the Chief Executive Officer and the Chief
Financial Officer, to allow timely decisions regarding required
disclosure.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Management&#8217;s Annual Report on Internal Control over Financial
Reporting</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our management is
responsible for establishing and maintaining effective internal control over
financial reporting and for its assessment of the effectiveness of internal
control over financial reporting.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Internal control over
financial reporting is defined in rules 13a-15(f) and 15d-15(f) under the
Exchange Act as a process designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting
principles, and includes those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately and fairly reflect
the transactions and dispositions of the assets of the Company; (2) provide
reasonable assurance that transactions are recorded as necessary to permit
preparation of financial statements in accordance with generally accepted
accounting principles, and that receipts and expenditures of the Company are
being made only in accordance with authorizations of management and directors of
the Company; and (3) provide reasonable assurance regarding prevention or timely
detection of unauthorized acquisition, use, or disposition of the Company&#8217;s
assets that could have a material effect on the audited consolidated financial
statements.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Because of its
inherent limitations, internal control over financial reporting may not prevent
or detect material misstatements. Therefore, effective control over financial
reporting cannot, and does not, provide absolute assurance of achieving our
control objectives. Also, projections of any evaluation of effectiveness to
future periods are subject to the risk that controls may become inadequate
because of changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate.&nbsp; The effectiveness of our internal
control over financial reporting as of December 31, 2017, is based on the
criteria established in Internal Control - Integrated Framework (2013) issued by
the Committee of Sponsoring Organizations (COSO) of the Treadway
Commission.&nbsp; Based on those criteria, management has concluded that as of
December 31, 2017, the Company&#8217;s internal control over financial reporting is
effective.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Attestation Report of the Registered Public Accounting Firm</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The effectiveness of
our internal control over financial reporting as of December 31, 2017, has been
audited by Deloitte Touche Tohmatsu Auditores Independentes, the Company&#8217;s
independent registered public accounting firm. Their audit report and their
report on Company&#8217;s internal control over financial reporting are included in
our audited consolidated financial statements included in this Form 20-F.&nbsp;
</FONT></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">139</FONT></P></DIV>
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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Changes in Internal Control over Financial Reporting</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Other than as
discussed below, during the period covered by this Form 20-F, we have not made
any change to our internal control over financial reporting that has materially
affected, or is reasonably likely to materially affect, our internal control
over financial reporting.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Remediation Plan for Previously
Existing Material Weakness</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have previously
disclosed in our annual report on Form 20-F for the year ended December 31, 2016
that we and our independent registered public accounting firm identified a
material weakness as of December 31, 2016 relating to the accounting and
presentation of complex, non-routine transactions. During 2017, we have
undertaken the following remedial steps to address the aforementioned material
weakness:</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0cm 36pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbolmt>&#8226;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">strengthened the
detailed framework for the treatment of such complex non-routine
transaction;</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0cm 36pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbolmt>&#8226;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">formalized all the
required steps to be taken in connection with the analysis of the applicable
accounting practices for such transactions; and</FONT></P>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0cm 36pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face=symbolmt>&#8226;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">formalized the other
procedures to be undertaken when reviewing the key assumptions and other data
relating to complex, non-routine that may impact the accounting record of such
transactions.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have implemented
these remedial steps and successfully tested the related controls. Therefore, as
of December 31, 2017, we have concluded that the material weakness described in
our annual report on Form 20-F for the year ended December 31, 2016 has been
remediated.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name=_Toc506645696></A></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">140</FONT></P></DIV>
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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
15T.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CONTROLS AND
PROCEDURES</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not
applicable.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name=_Toc506645697></A></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">141</FONT></P></DIV>
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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
16A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AUDIT COMMITTEE
FINANCIAL EXPERT </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have relied on the
exemption provided for under Rule 10A-3(c)(3) of the Exchange Act, pursuant
to&nbsp; Section 301 of the Sarbanes-Oxley Act of 2002, which enables us to have
the Fiscal Council perform the duties of an audit committee for the purposes of
such Act, to the extent permitted by Brazilian law.&nbsp; In accordance with the
charter of our Fiscal Council, at least one of its members has to fulfill the
requirements of the Sarbanes-Oxley Act of 2002 for the purposes of qualifying as
an audit committee financial expert.&nbsp; Accordingly, our Fiscal Council is
comprised of one &#8220;audit committee financial expert&#8221; within the meaning of this
Item 16A, namely Jos&#233; Ronaldo Vilela Rezende, who has an extensive work-related
finance background and who is &#8220;independent&#8221; as set forth in Rule 10A-3(c)(3) of
the Sarbanes-Oxley Act of 2002.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name=_Toc506645698></A></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">142</FONT></P></DIV>
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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
16B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CODE OF
BUSINESS CONDUCT</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have adopted a code
of business conduct (as defined under the rules and regulations of the SEC) that
applies to our principal executive officer, principal financial officer and
principal accounting officer, among others.&nbsp; Our code of business conduct
has been incorporated by reference to this annual report and was approved by our
Board of Directors on August 30, 2013 and amended on May 16, 2017 (though Old
Ambev already had a Board-approved code of business conduct since 2003).&nbsp;
If the provisions of the code that apply to our principal executive officer,
principal financial officer or principal accounting officer are amended, or if a
waiver is granted, we will disclose such amendment or waiver.</FONT></P>
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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM 16C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PRINCIPAL ACCOUNTANT FEES AND SERVICES</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Auditor Fees</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Deloitte Touche Tohmatsu Auditores Independentes, or Deloitte, acted as our independent auditor for the fiscal years ended December 31, 2017, 2016 and 2015.&nbsp; The table below sets forth the total amount we were billed by Deloitte in 2017, 2016 and 2015 for services performed in those years, and breaks down the amount by category of service: </FONT></P>

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   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 10pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Year Ended December 31, 2017</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Year Ended December 31, 2016</FONT></B></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%">

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Year Ended December 31, 2015</FONT></B></P></DIV></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="48%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="52%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(in R$ thousand)</FONT></I></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="48%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Audit fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4,306</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4,532</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7,316.1</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="48%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Audit-related fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,382</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3,512</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="48%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Tax fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1,103</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">568.9</FONT></P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="48%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">All other fees</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">113</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">20</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">113.2</FONT></P></DIV></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="48%">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Total</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7,801</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9,167</FONT></P></DIV></TD>

   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 2.25pt double; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7,998.2</FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Audit Fees</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Audit fees are fees billed for the audit of our consolidated financial statements and for the reviews of our quarterly financial statements in connection with statutory and regulatory filings or engagements (including audit of our subsidiaries for consolidated purpose).</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Audit-Related Fees</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Audit-related fees consisted of fees billed for assurance and related services that were reasonably related to the performance of the audit or review of our financial statements or that were traditionally performed by the external auditor.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Tax Fees</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Tax fees in&nbsp; 2016 and 2015 were related to tax compliance services.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">All Other Fees</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">All other services consist primarily of fees billed for certain compliance reports to be filed with local regulators and certain comfort letters issued in connection with the issuance of debt.</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Independent Registered Public Accounting Firm</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our audited consolidated financial statements as of and for the years ended December 31, 2017, 2016 and 2015 have been audited by Deloitte Touche Tohmatsu Auditores Independentes, S&#227;o Paulo, Brazil, independent registered public accounting firm.&nbsp; The offices of Deloitte Touche Tohmatsu Auditores Independentes are located at Avenida Dr. Chucri Zaidan, 1240, 4th to 12th floors, 04711-130, S&#227;o Paulo, SP, Brazil.&nbsp; They are members of the S&#227;o Paulo State Regional Board of Accountants (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Conselho Regional de Contabilidade</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">) and their registration number is SP 011.609/O-8.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our audited consolidated financial statements as of and for the years ended December 31, 2014 and 2013 have been audited by another independent registered public accounting firm (i.e. </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">PricewaterhouseCoopers Auditores Independentes</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">). </FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Pre-Approval Policies and Procedures</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">We have adopted pre-approval policies and procedures under which all audit and non-audit services provided by contracted external auditors must be pre-cleared by the Fiscal Council, which performs the duties of an audit committee for the purposes of the Sarbanes-Oxley Act of 2002, in accordance with Rule 10A-3(c)(3).&nbsp; The </FONT>


<FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Fiscal Council adopts a list of services and amount limits for contracting for each external auditor under terms included in a &#8220;basic list,&#8221; which is in turn approved by the Board of Directors.&nbsp; Any services provided from such list are deemed &#8220;pre-approved&#8221; for purposes of the Sarbanes-Oxley Act of 2002.&nbsp; The Fiscal Council periodically receive from our chief financial officer a summary report on the progress of the pre-approved services rendered and the corresponding fees duly authorized.&nbsp; Any services which are not included in such require a prior favorable opinion of our Fiscal Council.&nbsp; Our policy also contains a list of services which cannot be rendered by our external auditors.</FONT></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">144</FONT></P></DIV>

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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
16D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EXEMPTIONS FROM
THE LISTING STANDARDS FOR AUDIT COMMITTEES</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">NYSE corporate
governance standards require that a listed company have an audit committee
composed of three independent members that satisfy the independence requirements
of Rule 10A-3 under the Exchange Act, with a written charter that addresses
certain duties.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Fiscal Council is
a permanent body which operates independently from our management and from our
registered independent public accounting firm.&nbsp; Its principal function is
to examine the financial statements of each fiscal year and provide a formal
report to our shareholders.&nbsp; We are relying on the exemption provided for
in Rule 10A-3(c)(3) and believe that our reliance on this exemption will not
materially affect the ability of the Fiscal Council to act independently and to
satisfy the other requirements of Rule 10A-3.&nbsp; In accordance with the
charter of our Fiscal Council, at least one of its members has to fulfill the
requirements of the Sarbanes-Oxley Act of 2002 for the purposes of qualifying as
an audit committee financial expert.&nbsp; Accordingly, our Fiscal Council has
designated one financial expert, namely Jos&#233; Ronaldo Vilela Rezende. </FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm 10pt 72pt; TEXT-INDENT: -72pt"><A name=_Toc506645701></A></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">146</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_156></A>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm 10pt 72pt; TEXT-INDENT: -72pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
16E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PURCHASES OF
EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">As disclosed under
&#8220;Major Shareholders&#8212;Share Buyback Program,&#8221; we have purchased a number of our
shares during the period covered by this annual report.&nbsp; See &#8220;Item 11.
Quantitative and Qualitative Disclosures about Market Risk&#8212;Equity Swap
Risk.&#8221;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 10pt 0cm 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=windowtext face="Times New Roman">Ambev
S.A. Share Repurchases </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Set forth below, in
tabular format, is some disclosure on the repurchases of Ambev S.A. shares for
the periods indicated.&nbsp; Shares not purchased under publicly announced
programs include those purchased from employees when no publicly announced
program was in place and those bought from employees who were dismissed, in both
cases, pursuant to the terms and conditions of our stock ownership
plan.</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=left><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Month</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Total Number of</FONT></B></P>
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Shares Purchased</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Average Price</FONT></B></P>
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Paid per Share</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Total Number of </FONT></B></P>
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Shares Purchased as</FONT></B></P>
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Part of Publicly</FONT></B></P>
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Announced Plans or</FONT></B></P>
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Programs(1)</FONT></B></P></DIV></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Maximum Number</FONT></B></P>
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">of Shares that May</FONT></B></P>
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Be Purchased Under</FONT></B></P>
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Publicly Announced</FONT></B></P>
      <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Plans or Programs</FONT></B></P></DIV></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">February-2018</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">291,262</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">22.09</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">January-2018</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">637,394</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">21.74</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">December-2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">493,724</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">20.69</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">November-2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">279,041</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">20.45</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">October-2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">78,803</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">21.01</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">September-2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">841,850</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">20.11</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">August-2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">788,027</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">19.55</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">July-2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">213,382</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">18.92</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">June-2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">262,702</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">18.39</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">May-2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">317,969</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">19.07</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">April-2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">437,084</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">17.68</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">March-2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">390,678</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">17.46</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">February-2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">36,522</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">17.11</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">January-2017</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">3,690,690</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">16.78</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">December-2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">170,024</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">16.49</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">November-2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">166,797</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">17.83</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">October-2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">108,375</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">18.71</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">September-2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">202,158</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">19.66</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">August-2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">351,594</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">19.53</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">July-2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">24,400</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">19.22</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">June-2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">180,981</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">18.77</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">May-2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">985,389</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">18.88</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">April-2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">369,266</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">18.80</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">March-2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">231,646</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">18.70</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">February-2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">76,999</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">17.69</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">January-2016</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">329,219</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">17.28</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">December-2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">263,393</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">18.52</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">November-2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">497,438</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">18.67</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">October-2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">347,578</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">19.79</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">September-2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">3,338,663</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">19.04</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">August-2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">7,889,279</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">19.16</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">July-2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">8,981,400</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">19.23</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">June-2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">9,885,614</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">18.65</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">May-2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">7,976,601</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">19.04</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">April-2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">5,457,010</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">19.16</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">March-2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">3,520,223</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">18.31</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">February-2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">756,819</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">18.18</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR>
  <TR>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="28%">
      <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">January-2015</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">35,919</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">16.48</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD>
    <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="19%">
      <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt" face="Times New Roman">Not
      Specified</FONT></P></TD></TR></TABLE></DIV>
<DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; MARGIN-RIGHT: 80%">
<P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PAGE-BREAK-AFTER: avoid; PADDING-BOTTOM: 0cm; TEXT-ALIGN: left; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm; TEXT-INDENT: 0cm" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>
<P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 6pt 18pt; TEXT-INDENT: -18pt" align=left><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt" face="Times New Roman">May differ from total number of
shares purchased as they do not include all shares acquired from employees under
the stock ownership program.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name=_Toc506645702></A></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">147</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_157></A>
<a name="_bclPageBorder157"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
16F.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHANGE IN
REGISTRANT&#8217;S CERTIFYING ACCOUNTANT</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not
applicable.</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name=_Toc506645703></A></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">148</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_158></A>
<a name="_bclPageBorder158"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
16G.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CORPORATE
GOVERNANCE</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The principal
differences between the NYSE corporate governance standards and our corporate
governance practices are referred to in &#8220;Item 6. Directors, Senior Management
and Employees&#8212;C. Board Practices&#8212;Differences Between the United States and
Brazilian Corporate Governance Practices.&#8221;</FONT></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name=_Toc506645704></A></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">149</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_159></A>
<a name="_bclPageBorder159"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
16H.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MINE SAFETY
DISCLOSURE</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Not
Applicable.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><A name=_Toc506645705></A></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">150</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_160></A>
<a name="_bclPageBorder160"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">PART
III</FONT></B></P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name=_Toc506645706></A><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
FINANCIAL STATEMENTS</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our audited
consolidated financial statements, together with the audit report of the
Independent Registered Public Accounting Firm thereon, are filed as part of this
annual report, starting on page F-1 hereto, following the signature
pages.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name=_Toc506645707></A></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">151</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD width="50%"></TD>
    <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt"><A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name=page_161></A>
<a name="_bclPageBorder161"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM
18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
FINANCIAL STATEMENTS</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">See &#8220;Item
17.&#8212;Financial Statements.&#8221;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>
<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><A name=_Toc506645708></A></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">152</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>


<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD width="50%"></TD>

   <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt">
   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_162"></A>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0cm; TEXT-INDENT: 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face="Times New Roman">ITEM 19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EXHIBITS</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<DIV>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD width="3%">
   <A href="http://www.sec.gov/Archives/edgar/data/1565025/000129281415001041/ambevsa20150429_6k.htm"><FONT size=2>1.1 </FONT></A></TD>

   <TD width="97%">

   <P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 10pt 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">
   <A href="http://www.sec.gov/Archives/edgar/data/1565025/000129281415001041/ambevsa20150429_6k.htm">Restated Bylaws of Ambev S.A. (English-language translation) (incorporated by reference to the report on Form 6-K furnished by Ambev on April 30, 2015). </A></FONT></P></TD></TR>

<TR>

   <TD width="3%">
   <A href="http://www.sec.gov/Archives/edgar/data/1565025/000119312513276352/d529201dex41.htm"><FONT size=2>2.1</FONT></A></TD>

   <TD width="97%">
   <A href="http://www.sec.gov/Archives/edgar/data/1565025/000119312513276352/d529201dex41.htm">

   <P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 10pt 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Deposit Agreement among Ambev S.A., The Bank of New York Mellon, as Depositary, and all Owners and Holders from time to time of American Depositary Shares, representing Common Shares (incorporated by reference to Exhibit 4.1 to Form F-4 filed by Ambev on June 28, 2013). </FONT></P></A></TD></TR>

<TR>

   <TD width="3%">
   <A href="http://www.sec.gov/Archives/edgar/data/1565025/000129281416003835/exhibit02_6.htm"><FONT size=2>2.2</FONT></A></TD>

   <TD width="97%">
   <A href="http://www.sec.gov/Archives/edgar/data/1565025/000129281416003835/exhibit02_6.htm">

   <P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 10pt 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Indenture, dated September 9, 2015, as amended, between Ambev S.A. and Simplific Pavarini Distribuidora de T&#237;tulos e Valores Mobili&#225;rios Ltda., as Trustee, relating to the R$1,000,000,000 14.476% Non-Convertible Debentures of Ambev S.A. due 2021 (incorporated by reference to Exhibit 2.6 to Form 20-F filed by Ambev on March 14, 2016).</FONT></P></A></TD></TR>

<TR>

   <TD width="3%">
   <A href="http://www.sec.gov/Archives/edgar/data/1565025/000119312513276352/d529201dex91.htm"><FONT size=2>3.1</FONT></A></TD>

   <TD width="97%">
   <A href="http://www.sec.gov/Archives/edgar/data/1565025/000119312513276352/d529201dex91.htm">

   <P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 10pt 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Shareholders&#8217; Agreement of Ambev S.A., dated April 16, 2013, effective as from the approval of the Stock Swap Merger until July 1, 2019, among Funda&#231;&#227;o Antonio e Helena Zerrenner Institui&#231;&#227;o Nacional de Benefic&#234;ncia, Interbrew International B.V., AmBrew S.A., Ambev S.A. and Anheuser-Busch InBev SA/NV (English-language translation) (incorporated by reference to Exhibit 9.1 to Form F-4 filed by Ambev on June 28, 2013).</FONT></P></A></TD></TR>

<TR>

   <TD width="3%">
   <A href="http://www.sec.gov/Archives/edgar/data/1565025/000119312513276352/d529201dex92.htm"><FONT size=2>3.2</FONT></A></TD>

   <TD width="97%">
   <A href="http://www.sec.gov/Archives/edgar/data/1565025/000119312513276352/d529201dex92.htm">

   <P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 10pt 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Shareholders&#8217; Agreement of Ambev S.A., dated April 16, 2013, to be effective starting on July 2, 2019, among Funda&#231;&#227;o Antonio e Helena Zerrenner Institui&#231;&#227;o Nacional de Benefic&#234;ncia, Interbrew International B.V., AmBrew S.A. and Ambev S.A. (English-language translation) (incorporated by reference to Exhibit 9.2 to Form F-4 filed by Ambev on June 28, 2013).</FONT></P></A></TD></TR>

<TR>

   <TD width="3%">
   <A href="http://www.sec.gov/Archives/edgar/data/1140467/000119312516498533/d12366dex99236.htm"><FONT size=2>3.3</FONT></A></TD>

   <TD width="97%">
   <A href="http://www.sec.gov/Archives/edgar/data/1140467/000119312516498533/d12366dex99236.htm">

   <P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 10pt 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Voting Agreement between Stichting Anheuser-Busch InBev, Fonds Baillet Latour SPRL and Fonds Voorzitter Verhelst SPRL, effective November 1, 2015 (incorporated by reference to Exhibit 2.36 to Amendment No. 15 to Schedule 13D filed by former AB InBev on March 9, 2016). </FONT></P></A></TD></TR>

<TR>

   <TD width="3%">
   <A href="http://www.sec.gov/Archives/edgar/data/1140467/000119312516545198/d168523dex99237.htm"><FONT size=2>3.4</FONT></A></TD>

   <TD width="97%">
   <A href="http://www.sec.gov/Archives/edgar/data/1140467/000119312516545198/d168523dex99237.htm">

   <P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 10pt 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Amended and Restated New Shareholders&#8217; Agreement, dated April 11, 2016, among BRC S.&#224;.R.L., Eug&#233;nie Patri S&#233;bastian S.A., EPS Participations S.&#224;.R.L., Rayvax Soci&#233;t&#233; d&#8217;Investissements S.A. and Stichting Anheuser-Busch InBev (incorporated by reference to Exhibit 2.37 to Schedule 13D filed by former AB InBev on April 19, 2016). </FONT></P></A></TD></TR>

<TR>

   <TD width="3%">
   <A href="http://www.sec.gov/Archives/edgar/data/1301486/000119312516757125/d276200dex9924.htm"><FONT size=2>3.5</FONT></A></TD>

   <TD width="97%">
   <A href="http://www.sec.gov/Archives/edgar/data/1301486/000119312516757125/d276200dex9924.htm">

   <P style="TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt 0pt; TEXT-INDENT: 0pt" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Voting and Support Agreement relating to Anheuser-Busch InBev SA/NV, dated October 8, 2016, among Stichting Anheuser-Busch InBev, Altria Group, Inc., BEVCO Ltd. and Anheuser-Busch InBev SA/NV (incorporated by reference to Exhibit 2.4 to Anheuser Busch InBev SA/NV&#8217;s Schedule 13D filed by BRC S.&#224;.R.L. on November 2, 2016)</FONT></P></A></TD></TR>

<TR>

   <TD width="3%">
   <A href="exhibit8_1.htm"><FONT size=2>8.1</FONT></A></TD>

   <TD width="97%">

   <P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 10pt 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">
   <A href="exhibit8_1.htm">List of Material Subsidiaries of Ambev S.A.</A></FONT></P></TD></TR>

<TR>

   <TD width="3%">
   <A href="exhibit11_1.htm"><FONT size=2>11.1</FONT></A></TD>

   <TD width="97%">
   <A href="exhibit11_1.htm">

   <P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 10pt 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Code of Business Conduct dated August 30, 2013 and amended on May 16, 2017 (English-language translation). </FONT></P></A></TD></TR>

<TR>

   <TD width="3%">
   <A href="exhibit11_2.htm"><FONT size=2>11.2</FONT></A></TD>

   <TD width="97%">
   <A href="exhibit11_2.htm">

   <P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 10pt 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Manual on Disclosure and Use of Information and Policies for Trading with Securities issued by Ambev dated March 1, 2013 and amended on August 27, 2014 and on March 28, 2016 (English-language translation).</FONT></P></A></TD></TR>

<TR>

   <TD width="3%">
   <A href="exhibit12_1.htm"><FONT size=2>12.1</FONT></A></TD>

   <TD width="97%">
   <A href="exhibit12_1.htm">

   <P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 10pt 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Principal Executive Officer Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</FONT></P></A></TD></TR>

<TR>

   <TD width="3%">
   <A href="exhibit12_2.htm"><FONT size=2>12.2</FONT></A></TD>

   <TD width="97%">
   <A href="exhibit12_2.htm">

   <P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 10pt 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Principal Financial Officer Certification pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</FONT></P></A></TD></TR>

<TR>

   <TD width="3%">
   <A href="exhibit13_1.htm"><FONT size=2>13.1</FONT></A></TD>

   <TD width="97%">
   <A href="exhibit13_1.htm">

   <P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 10pt 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Principal Executive Officer Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</FONT></P></A></TD></TR>

<TR>

   <TD width="3%">
   <A href="exhibit13_2.htm"><FONT size=2>13.2</FONT></A></TD>

   <TD width="97%">
   <A href="exhibit13_2.htm">

   <P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm 10pt 0pt; TEXT-INDENT: 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Principal Financial Officer Certification pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</FONT></P></A></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">153</FONT></P>

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   <TD width="50%" align=right><FONT style="FONT-SIZE: 10pt">
   <A href="#page_4">Table of Contents</A></FONT></TD></TR></TABLE>&nbsp; <A name="page_163"></A>

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<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 10pt 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">SIGNATURES</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the undersigned to sign this annual report on its behalf.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 20pt 0cm 0cm 252pt"><B><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">AMBEV S.A.</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 20pt 0cm 0cm 252pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">By:&nbsp; </FONT><U><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Bernardo Pinto Paiva&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"><BR>Name:&nbsp;&nbsp;&nbsp; Bernardo Pinto Paiva<BR>Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Executive Officer</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 20pt 0cm 0cm 252pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">By:&nbsp; </FONT><U><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Ricardo Rittes de Oliveira Silva&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"><BR>Name:&nbsp;&nbsp;&nbsp; Ricardo Rittes de Oliveira Silva<BR>Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Financial Officer</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 10pt 0cm"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Date: March 19, 2018.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

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&nbsp; <A name="page_164"></A>

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<DIV align=left><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif></FONT></U>&nbsp;</DIV>

<DIV align=left><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</FONT></U></DIV></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>To the Shareholders and the Board of Directors of</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>Ambev S.A.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><U><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=verdana,sans-serif>S&#227;o Paulo - SP - Brazil</FONT></U></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>Opinion on Internal Control over Financial Reporting</FONT></B></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>We have audited the internal control over financial reporting of Ambev S.A. and subsidiaries (the &#8220;Company&#8221;) as of December 31, 2017, based on criteria established in the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>Internal Control - Integrated Framework (2013)</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif> issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2017, based on criteria established in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>Internal Control - Integrated Framework (2013)</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif> issued by COSO.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated financial statements as of and for the year ended December 31, 2017, of the Company and our report dated March 16, 2018, expressed an unqualified opinion on those financial statements.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>Basis for Opinion</FONT></B></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>The Company&#8217;s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management&#8217;s Annual Report on Internal Control over Financial Reporting. Our responsibility is to express an opinion on the Company&#8217;s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>We believe that our audit provides a reasonable basis for our opinion.</FONT></P>

<P style="MARGIN: 0in 0in 10pt">&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>Definition and Limitations of Internal Control over Financial Reporting</FONT></B></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>A company&#8217;s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company&#8217;s internal control over financial reporting includes those policies and procedures that: (1)&nbsp;pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2)&nbsp;provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3)&nbsp;provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company&#8217;s assets that could have a material effect on the financial statements.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. </FONT></P>

<P style="MARGIN: 0.5in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=verdana,sans-serif>/s/ DELOITTE TOUCHE TOHMATSU</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=verdana,sans-serif>S&#227;o Paulo, Brazil</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>March 16, 2018</FONT></P>

<P style="MARGIN: 9pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>We have served as the Company&#8217;s auditor since 2015.</FONT></P>

<a name="_bclFooter164"></a><DIV>

<DIV></DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-1</FONT></P>

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&nbsp; <A name="page_165"></A>

<a name="_bclHeader165"></a><DIV>

<DIV align=left><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif></FONT></U>&nbsp;</DIV>

<DIV align=left><U><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</FONT></U></DIV></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>To the Shareholders and the Board of Directors of</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>Ambev S.A.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><U><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=verdana,sans-serif>S&#227;o Paulo - SP - Brazil</FONT></U></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>Opinion on the Financial Statements</FONT></B></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>We have audited the accompanying consolidated balance sheets of Ambev S.A. and subsidiaries (the &#8220;Company&#8221;) as of December 31, 2017 and 2016, the related consolidated income statements, consolidated statements of comprehensive income, changes in equity, and cash flows, for each of the three years in the period ended December 31, 2017, and the related notes (collectively referred to as the &#8220;financial statements&#8221;). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2017 and 2016, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2017, in conformity with International Financial Reporting Standards - IFRS as issued by the International Accounting Standards Board - IASB.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company&#8217;s internal control over financial reporting as of December 31, 2017, based on the criteria established in </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>Internal Control - Integrated Framework (2013)</FONT></I><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif> issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>March 16, 2018,</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif> expressed an unqualified opinion on the Company&#8217;s internal control over financial reporting.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>Basis for Opinion</FONT></B></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>These financial statements are the responsibility of the Company&#8217;s management. Our responsibility is to express an opinion on the Company&#8217;s financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. </FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif> Our audits also </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that our audits provide a reasonable basis for our opinion.</FONT></P>

<P style="MARGIN: 30pt 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=verdana,sans-serif>/s/ DELOITTE TOUCHE TOHMATSU</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face=verdana,sans-serif>S&#227;o Paulo, Brazil</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>March 16, 2018</FONT></P>

<P style="MARGIN: 9pt 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt" color=black face=verdana,sans-serif>We have served as the Company&#8217;s auditor since 2015.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-2</FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman">AMBEV S.A. FINANCIAL STATEMENTS</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Consolidated Income Statements</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Years ended December 31, 2017, 2016 and 2015</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman">(Expressed in millions of Brazilian Reais)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Note</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;2015 </FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net sales</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">47,899.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">45,602.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">46,720.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(18,041.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(16,678.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(16,061.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Gross profit</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">29,857.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">28,924.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">30,658.8</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Distribution expenses</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(6,295.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(6,085.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,833.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Sales and marketing expenses</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,620.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,925.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,344.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Administrative expenses</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,623.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,166.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,281.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other operating income/(expenses), net</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,217.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,223.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,936.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exceptional items</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(108.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,134.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(357.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income from operations</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16,426.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">17,105.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">18,778.5</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="47%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Finance cost</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4,268.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4,597.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,562.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Finance income</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">774.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">895.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,294.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net finance cost</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,493.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,702.0)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,268.2)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="47%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share of result of joint ventures</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income before income tax</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12,929.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13,398.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16,513.4</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax expense</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,079.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(315.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,634.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7,850.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13,083.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12,879.2</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="47%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Attributable to:</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Equity holders of&nbsp; Ambev</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,332.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12,546.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12,423.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Non-controlling interests</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">518.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">536.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">455.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="47%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Basic earnings per share &#8211; common - R$</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">21</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.47</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.80</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.79</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="47%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Diluted earnings per share &#8211; common - R$</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">21</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.46</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.79</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.79</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The accompanying notes are an integral part of these consolidated financial statements.</FONT></P>

<DIV></DIV><FONT size=2></FONT>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-3</FONT></P>

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&nbsp; <A name="page_167"></A>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Consolidated Statements of Comprehensive Income</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Years ended December 31, 2017, 2016 and 2015</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(Expressed in millions of Brazilian Reais)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net income</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7,850.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13,083.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12,879.2</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Items that will not be recycled to profit or loss:</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Recognition of actuarial gains/(losses)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">124.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(129.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(24.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Items that may be recycled subsequently to profit or loss:</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exchange differences on translation of foreign operations gains/(losses)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Investment hedge in foreign operations</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">23.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,859.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Investment hedge -&nbsp; put option granted on subsidiary</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">61.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">707.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,071.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Gains/losses on translation of other foreign operations </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,890.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(4,858.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6,344.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 36.15pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Gains/losses on translation of foreign operations </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,952.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(4,127.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,414.2</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash flow hedge - gains/(losses)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Recognized in Equity (Hedge reserve)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">189.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(579.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,634.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Removed from Equity (Hedge reserve) and included in profit or loss</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">324.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(494.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(970.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 36.15pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total cash flow hedge</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">513.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,073.3)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">664.6</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other comprehensive (loss)/income</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,590.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5,330.6)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,054.3</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total comprehensive income</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10,441.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7,752.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16,933.5</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Attributable to:</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;&nbsp; Equity holders of Ambev</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">9,891.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7,610.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16,086.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;&nbsp; Non-controlling interest</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">549.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">142.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">847.0</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The accompanying notes are an integral part of these consolidated financial statements. The consolidated statements of comprehensive income are presented net of income tax. The income tax effects of these items are disclosed in note 17 - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Deferred income tax and social contribution.</FONT></I></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 14pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-4</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_168"></A>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Consolidated Balance Sheets</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">As at December 31, 2017 and </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">December 31, 2016</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(Expressed in millions of Brazilian Reais)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Note</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Property, plant and equipment</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">18,822.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">19,153.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Goodwill</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">14</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">31,401.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">30,511.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Intangible</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,674.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,245.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Investments in associates</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">238.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">300.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Investment securities</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">122.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">104.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Deferred tax assets</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">17</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,279.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,268.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Employee benefits</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">23</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">58.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">33.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Derivative financial instruments</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">27</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">35.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">16.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Income tax and social contributions recoverable</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,312.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other recoverable taxes </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">225.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">343.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Other assets</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,964.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,973.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Non-current assets</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">62,133.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">59,954.6</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Investment securities</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">282.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Inventories</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">18</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,319.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,347.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Trade receivable</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">19</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,944.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,368.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivative financial instruments</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">27</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">350.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">196.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Income tax and social contributions recoverable</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,770.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,693.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other recoverable taxes </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">600.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">729.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cash and cash equivalents</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">20</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,354.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,876.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Other assets</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,367.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,392.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Current assets</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">24,718.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">23,886.8</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total assets</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">86,851.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">83,841.4</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The accompanying notes are an integral part of these consolidated financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-5</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_169"></A>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Consolidated Balance Sheets (continued)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">As at December 31, 2017 and </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">December 31, 2016</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(Expressed in millions of Brazilian Reais)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Equity and liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Note</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Equity</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Issued capital</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">21</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">57,614.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">57,614.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Reserves</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">63,361.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">64,230.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Carrying value adjustments</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(74,966.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(77,019.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Equity attributable to equity holders of Ambev</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">46,008.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">44,825.0</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Non-controlling interests</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,974.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,826.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total Equity</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">47,982.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">46,651.3</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Interest-bearing loans and borrowings</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">22</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,231.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,765.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Employee benefits</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">23</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,310.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,137.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivative financial instruments</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">27</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">27.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Deferred tax liabilities</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">17</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,329.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,329.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Income tax and social contribution payable<SUP> (i)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,418.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Taxes and contributions payable</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">771.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">681.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Trade payables</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">25</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">175.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">237.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Provisions</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">26</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">512.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">765.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Put option granted on subsidiary and other liabilities</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">429.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">471.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Non-current liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,180.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8,416.5</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Bank overdrafts</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">20</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Interest-bearing loans and borrowings</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">22</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,321.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,630.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Wages and salaries</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,047.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">686.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Dividends and interest on shareholders&#8217; equity payable</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,778.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,714.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivative financial instruments</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">27</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">215.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">686.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Income tax and social contribution payable</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,668.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">904.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Taxes and contributions payable</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,825.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,378.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Trade payables</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">25</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11,854.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,868.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Provisions</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">26</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">169.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">168.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Put option granted on subsidiary and other liabilities</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,807.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,735.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Current liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">28,688.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">28,773.6</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">38,869.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">37,190.1</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total equity and liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">86,851.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">83,841.4</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(i) During the third quarter, the Company joined a Special Program for Tax Regularization ("PERT 2017"). Additional information are disclosed on Note 1 - Corporate information.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The accompanying notes are an integral part of these consolidated financial statements.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-6</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_170"></A>

<P style="MARGIN: 0in 0in 0pt 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Consolidated Statements of Changes in Equity</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Years ended December 31, 2017, 2016 and 2015</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(Expressed in millions of Brazilian Reais)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Attributable to equity holders of Ambev </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Capital</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Capital</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">reserves</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Net income</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">reserves</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Retained </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">earnings</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Carrying </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">value </FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">adjustments</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Non-</FONT></B></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">controlling interests</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total equity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">At December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">57,614.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">54,529.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9,700.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(77,019.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">44,825.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,826.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">46,651.3</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Net Income </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,332.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,332.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">518.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,850.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Comprehensive income:</FONT></I></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Gains/(losses) on translation of foreign operations</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,928.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,928.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">23.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,952.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash flow hedges</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">513.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">513.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">513.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Actuarial gain/(losses)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">117.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">117.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">124.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total comprehensive income </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,332.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,559.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9,891.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">549.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,441.1</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Options granted on subsidiary</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(380.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(380.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(380.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Gains/(losses) of controlling interest&#180;s share</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(12.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(12.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">29.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">17.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Tax on fictitious dividends</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(38.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(38.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(38.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Dividends distributed</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,612.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,612.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(431.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4,044.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest on own capital</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,770.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,099.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4,869.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4,869.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquired shares and result on treasury shares</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share-based payment</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">157.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">157.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">157.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Prescribed dividends</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">34.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">34.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">34.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Reversal effect revaluation of property, plant and equipment under the predecessor basis accounting </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">75.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(75.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Fiscal incentive reserve </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,552.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,552.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Investments reserve </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,177.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,177.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">At December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">57,614.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">54,701.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8,660.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(74,966.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">46,008.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,974.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">47,982.8</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The accompanying notes are an integral part of these consolidated financial statements. </FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-7</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_171"></A>

<P style="MARGIN: 0in 0in 0pt 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Consolidated Statements of Changes in Equity (continued)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Years ended December 31, 2017, 2016 and 2015</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(Expressed in millions of Brazilian Reais)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Attributable to equity holders of Ambev </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Capital </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Capital reserves </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Net income reserves </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Retained earnings </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Carrying value adjustments</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Total </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Non-controlling interests</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total equity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">At December 31, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">57,614.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">54,373.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">8,201.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(71,857.0)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">48,331.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">2,001.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">50,333.7</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">&nbsp;Net Income </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">12,546.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">12,546.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">536.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">13,083.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Comprehensive income:</FONT></I></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Gains/(losses) on translation of foreign operations</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(3,728.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(3,728.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(398.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(4,127.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Cash flow hedges</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,076.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,076.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">3.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,073.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Actuarial gain/(losses)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(130.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(130.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(129.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Total comprehensive income </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">12,546.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(4,936.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">7,610.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">142.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">7,752.8</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Options granted on subsidiary</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(144.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(144.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(144.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Gains/(losses) of controlling interest&#180;s share</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(2.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(2.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">37.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">34.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Exchange transaction of shareholdings</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(3.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(3.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(3.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Dividends distributed</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(5,651.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(5,651.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(355.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(6,007.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Interest on own capital</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(2,039.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(3,454.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(5,493.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(5,493.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Acquired shares and result on treasury shares</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">94.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">94.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">94.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Share-based payment</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">61.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">61.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">61.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Prescribed dividends</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">21.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">21.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">21.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Reversal effect revaluation of property, plant and equipment under the predecessor basis accounting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">75.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(75.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Fiscal incentive reserve </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,819.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,819.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Investments reserve </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,718.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,718.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">At December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">57,614.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">54,529.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">9,700.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(77,019.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">44,825.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,826.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">46,651.3</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The accompanying notes are an integral part of these consolidated financial statements. </FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-8</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_172"></A>

<P style="MARGIN: 0in 0in 0pt 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Consolidated Statements of Changes in Equity (continued)</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Years ended December 31, 2017, 2016 and 2015</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(Expressed in millions of Brazilian Reais)</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="54%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Attributable to equity holders of Ambev </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Capital </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Capital reserves </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Net income reserves </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Retained earnings </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Carrying value adjustments</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Total </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Non-controlling interests</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total equity</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">At December 31, 2014</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">57,582.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">55,023.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">4,883.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(75,267.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">42,221.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,423.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">43,644.7</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">&nbsp;Net Income </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">12,423.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">12,423.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">455.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">12,879.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Comprehensive income:</FONT></I></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Gains/(losses) on translation of foreign operations</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">3,018.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">3,018.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">395.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">3,414.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Cash flow hedges</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">666.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">666.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">664.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Actuarial gain/(losses)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(22.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(22.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(2.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(24.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Total comprehensive income </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">12,423.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">3,662.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">16,086.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">847.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">16,933.5</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Capital increase</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">31.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(22.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">9.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">9.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Options granted on subsidiary</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(189.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(189.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(189.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Gains/(losses) of controlling interest&#8217;s share</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">13.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">13.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(7.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">5.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Dividends distributed</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(2,352.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(2,352.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(260.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(2,612.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Interest on own capital</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,979.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(4,866.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(6,846.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(6,846.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Acquired shares and result on treasury shares</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(817.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(817.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(817.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Share-based payment</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">189.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">189.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">189.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Prescribed dividends</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">16.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">16.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">16.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Reversal effect revaluation of property, plant and equipment under the predecessor basis accounting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">75.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(75.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Fiscal incentive reserve </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,143.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(1,143.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Additional Interest on shareholders&#8217; equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">2,039.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(2,039.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Investment reserve </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">2,114.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(2,114.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="26%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">At December 31, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">57,614.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">54,373.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">8,201.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(71,857.0)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">48,331.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">2,001.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">50,333.7</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The accompanying notes are an integral part of these consolidated financial statements. </FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-9</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_173"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Consolidated Cash Flow Statements</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Years ended December 31, 2017, 2016 and 2015</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(Expressed in millions of Brazilian Reais)</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Note</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;2017 </FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;2016 </FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;2015 </FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Net income</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,850.5</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13,083.4</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12,879.2</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Depreciation, amortization and impairment</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,612.1</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,512.0</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,074.6</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Impairment losses on receivables and inventories</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">156.3</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">196.5</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">97.7</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Additions/(reversals) in provisions and employee benefits</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">168.3</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">347.1</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">483.1</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Net finance cost</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,493.9</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,702.0</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,268.2</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Losses/(gain) on sale of property, plant and equipment and intangible assets</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(49.4)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(70.9)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(27.9)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Losses/(gain) on sale of operations in associates</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(41.7)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(25.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Gains on exchange transaction of shareholdings</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,240.0)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Equity-settled share-based payment expense</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">24</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">209.3</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">170.3</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">197.1</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Income tax expense</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,079.3</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">315.0</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,634.2</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Share of result of joint ventures</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3.1</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5.0</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Other non-cash items included in the profit</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">196.3</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(737.4)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,305.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cash flow from operating activities before changes in working capital and use of provisions</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">20,678.0</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">19,283.0</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">21,272.3</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(Increase)/decrease in trade and other receivables</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(265.6)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(578.4)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(380.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(Increase)/decrease in inventories</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(63.8)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(437.1)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(681.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Increase/(decrease) in trade and other payables</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(105.8)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(565.1)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,083.2</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cash generated from operations</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">20,242.8</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">17,702.4</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">25,293.2</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest paid</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(557.3)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(724.9)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(257.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest received</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">337.9</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">597.7</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">656.2</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Dividends received</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7.3</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">111.0</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">14.8</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Income tax paid</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,156.6)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,341.8)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,126.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cash flow from operating activities</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">17,874.1</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12,344.4</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">23,580.8</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Proceeds from sale of property, plant and equipment and intangible assets</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">101.9</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">133.6</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">99.8</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Proceeds from sale of subsidiaries operations</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">94.3</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Acquisition of property, plant and equipment and intangible assets</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,203.6)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4,132.7)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,261.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Acquisition of subsidiaries, net of cash acquired</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(333.3)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,824.2)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,212.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Acquisition of other investments</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1.1)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(37.6)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(123.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Investment in short term debt securities and net proceeds/(acquisition) of debt securities</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">276.9</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(37.1)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">403.8</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Net proceeds/(acquisition) of other assets</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">86.2</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2.0</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cash flow from investing activities</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,073.0)</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,898.0)</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,997.0)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Capital increase</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9.9</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Proceeds/(repurchase) of treasury shares</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(38.6)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.4</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(824.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Proceeds from borrowings</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,904.4</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,792.0</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,964.6</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Repayment of borrowings</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,441.7)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,896.2)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,653.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash net of finance costs other than interests</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,459.5)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,207.8)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,326.9)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Payment of finance lease liabilities</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(9.0)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2.9)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(8.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Dividends and Interest on shareholder&#180;s equity paid</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(8,819.8)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(10,330.6)</FONT></P></TD>

   <TD style="HEIGHT: 9.05pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(11,490.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cash flow from financing activities</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(12,864.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(11,645.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(15,327.9)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Net&nbsp; increase/(decrease) in cash and cash equivalents</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,936.9</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5,198.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,256.0</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash and cash equivalents less bank overdrafts at beginning of year <SUP>(i)</SUP></FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,876.8</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13,617.7</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9,623.0</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Effect of exchange rate fluctuations&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">539.0</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(542.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,738.7</FONT></B></P></TD></TR>

<TR style="HEIGHT: 9.05pt">

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="50%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash and cash equivalents less bank overdrafts at end of year <SUP>(i)</SUP></FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,352.7</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,876.8</FONT></B></P></TD>

   <TD style="HEIGHT: 9.05pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13,617.7</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(i) Net of bank overdrafts.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 108%" color=windowtext face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 108%" color=windowtext face="Times New Roman">The accompanying notes are an integral part of these </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 108%" color=windowtext face="Times New Roman">consolidated financial statements</FONT><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 108%" color=windowtext face="Times New Roman">.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-10</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_174"></A>

<DIV align=left><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Notes to the consolidated financial statements:</FONT></B></DIV>

<DIV align=left>&nbsp;</DIV>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 15.85pt">

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">1.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Corporate information</FONT></P></TD></TR>

<TR style="HEIGHT: 15.85pt">

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">2.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Statement of compliance</FONT></P></TD></TR>

<TR style="HEIGHT: 15.85pt">

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">3.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Summary of significant accounting policies</FONT></P></TD></TR>

<TR style="HEIGHT: 15.85pt">

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">4.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Use of estimates and judgments</FONT></P></TD></TR>

<TR style="HEIGHT: 15.85pt">

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">5.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Segment reporting</FONT></P></TD></TR>

<TR style="HEIGHT: 15.85pt">

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">6.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Net sales</FONT></P></TD></TR>

<TR style="HEIGHT: 15.85pt">

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">7.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Other operating income/(expenses)</FONT></P></TD></TR>

<TR style="HEIGHT: 15.85pt">

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">8.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Exceptional items</FONT></P></TD></TR>

<TR style="HEIGHT: 15.85pt">

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">9.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Payroll and related benefits</FONT></P></TD></TR>

<TR style="HEIGHT: 15.85pt">

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">10.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Additional information on operating expenses by nature</FONT></P></TD></TR>

<TR style="HEIGHT: 15.85pt">

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">11.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Finance cost and income</FONT></P></TD></TR>

<TR style="HEIGHT: 15.85pt">

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">12.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Income tax and social contribution</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">13.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Property, plant and equipment</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">14.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Goodwill</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">15.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Intangible</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">16.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Investment securities</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">17.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Deferred income tax and social contribution</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">18.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Inventories</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">19.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Trade receivables</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">20.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Cash and cash equivalents</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">21.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Changes in equity</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">22.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Interest-bearing loans and borrowings</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">23.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Employee benefits</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">24.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Share-based payments</FONT></P></TD></TR>

<TR style="HEIGHT: 15.85pt">

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">25.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Trade payables</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">26.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Provisions</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">27.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Financial instruments and risks</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">28.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Operating leases</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">29.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Collateral and contractual commitments with suppliers, advances from customers and other</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">30.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Contingent liability</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">31.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Non - cash items</FONT></P></TD></TR>

<TR style="HEIGHT: 15.85pt">

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">32.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Related parties</FONT></P></TD></TR>

<TR style="HEIGHT: 15.85pt">

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">33.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Group companies</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">34.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Insurance</FONT></P></TD></TR>

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   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">35.</FONT></P></TD>

   <TD style="HEIGHT: 15.85pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="92%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">Events after the reporting period</FONT></P></TD></TR></TABLE></DIV>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-11</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_175"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">1.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">CORPORATE INFORMATION</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">(a)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">&nbsp;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Description of business</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Ambev S.A. (</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">referred to as the &#8220;Company&#8221; or &#8220;Ambev&#8221;),</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> headquartered in S&#227;o Paulo, Brazil, produces and sells beer, draft beer, soft drinks, other non-alcoholic beverages, malt and food in general, as well as the advertising of its and third party products, the sale of promotional and advertising materials and the direct or indirect exploitation of bars, restaurants, snack bars and the like, among others.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">The Company&#8217;s shares and ADR&#8217;s (American Depositary Receipts) are listed on the </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman">B3 S.A.- Brasil, Bolsa, Balc&#227;o</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"> as &#8220;ABEV3&#8221; and on the New York Stock Exchange (NYSE) as &#8220;ABEV&#8221;.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company&#8217;s direct controlling shareholders are Interbrew International B.V. (&#8220;IIBV&#8221;), AmBrew S.A. (&#8220;Ambrew&#8221;), both subsidiaries of Anheuser-Busch InBev N.V. (&#8220;AB InBev&#8221;) and Funda&#231;&#227;o Antonio e Helena Zerrenner Institui&#231;&#227;o Nacional de Benefic&#234;ncia (&#8220;Funda&#231;&#227;o Zerrenner&#8221;).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The financial statements</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> were approved by the Board of Directors on February 27<SUP>st</SUP>, 2018.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">(b)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Major corporate events in 2015, 2016 and 2017</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Renegotiation of shareholders agreement CND</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">On December 1st, 2017, Ambev&nbsp; informed&nbsp; its&nbsp; shareholders&nbsp; and&nbsp; the&nbsp; general&nbsp; market&nbsp; that&nbsp; the&nbsp; E. Le&#243;n Jimenes, S.A. (&#8220;ELJ&#8221;), partner of Ambev in Tenedora CND, S.A. (&#8220;Tenedora&#8221;) &#8211; a holding company headquartered in Dominican Republic, which holds almost all shares of Cervecer&#237;a Nacional Dominicana, S.A &#8211; will exercise partially, as provide for in shareholders&#8217; agreement of Tenedora, ELJ put option of approximatelly 30% of capital stock by Tenedora. Due the partial put exercise option, the Company will pay to ELJ the amount of USD 926.5 million and will be the holder of approximately 85% of Tenedora, and ELJ will remain with 15% interest of CND. Considering the strategic importance of alliance with the ELJ, the&nbsp; Board of Directors of Ambev approved this date the change of the call option term from 2019 to 2022. The transaction was subject to certain conditions precedent that were executed on January 18, 2018, as described in Note 36 - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Subsequent events</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-12</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_176"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Adherence to the Special Tax Regularization Program</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">During the third quarter of 2017, the Company adhere a Special Program for Tax Regularization, fixed by Provisional Measure no. 783, from May 31, 2017, extended by the Provisional Measure no. 798 (&#8220;PERT 2017&#8221;), undertaking to&nbsp;pay&nbsp;some tax </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">assessments</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman"> that were in dispute, including debts from its subsidiaries, for a total amount of R$3.5 billion, already considering discounts according to the program, having paid the amount&nbsp;of&nbsp;approximately&nbsp;R$960 millions in 2017 and undertaking to&nbsp;pay&nbsp;the remaining value in 145 monthly installments, with interest, starting in January, 2018.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Perpetual licensing agreement with Quilmes</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">In September 2017, AB InBev and Quilmes, a subsidiary of Ambev, entered into an agreement whereby AB InBev will grant a perpetual license to Quilmes in Argentina for Budweiser and other North American brands upon the recovery of the distribution rights by AB InBev from CCU. The agreement also foresees the transfer of the brewery of Cerveceria Argentina Sociedad Anonima Isenbeck by AB InBev to Quilmes and the transfer of some Argentinean brands (Norte, Iguana and Baltica) and related business assets along with US$50 millions by Quilmes to CCU. The closing of the transaction is subject to the approval of the Argentinean antitrust authority and others usual closing conditions. Such approval has not been granted by the time of the publication of these&nbsp;financial statements.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">Exchange contracts for future financial flows - Equity Swap</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">As of December 21, 2017, the Board of Directors approved new equity swap agreements without prejudice to the liquidation, within the regulatory term, of the agreements still in force as authorized at the meeting held on May 16, 2017. These agreements authorized may result in an exposure of up to 44 million common shares (of which all or part may be through ADR&#8217;s), with a limit value of up to R$820 million and, together with the balance of the agreements executed in the context of the approval of May 16, 2017 and not yet settled.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">On May 16th, 2017, the Board of Directors of Ambev approved the execution, by and between the Company, or its subsidiaries, and financial institutions to be approved by the Board of Officers, of equity swaps, having as underlying asset the shares issued by the Company or American Depositary Receipts representing these shares (&#8220;ADRs&#8221;). The settlement of the equity swap will take place within a maximum period of 18 months from this date, and the agreements may result in an exposure of up to 80 million common shares, with a limit value of up to R$ 2.3 billion.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">Acquisition of the Cachoeiras de Macacu</FONT></B></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-13</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_177"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">In December 2016, the Company acquired Cachoeira de Macacu Bebidas Ltda. from Brasil Kirin Ind&#250;stria de Bebidas Ltda., a company that owns an operating industrial plant for the production and packaging of beer and non-alcohol&nbsp; beverages&nbsp; in the State of Rio de Janeiro for R$478.6 million. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">Exchange of shareholdings</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">On May 12, 2016, Ambev and its controlling shareholder, AB InBev, entered into an agreement for the exchange of shareholdings (&#8220;Swap&#8221;). The execution of the Swap was conditional on the implementation of the merger of the activities of AB InBev and SABMiller Plc (&#8220;SABMiller&#8221;), which occurred on October 10, 2016. Subsequently, on December 31, 2016, after the implementation of certain preparatory corporate acts, the Swap was effected. Based on the agreement described above, Ambev transferred to AB InBev the equity interest in Keystone Global Corporation - KGC, which held shares in companies domiciled in Colombia, Peru and Ecuador. On the other hand, AB InBev transferred to Ambev its interest in Cerveceria Nacional S. de R.L., a subsidiary domiciled in Panama, which had previously been acquired as a third party.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">The value attributed to the transaction is based on a fairness opinion prepared by a specialized company and duly approved by the Board of Directors of Ambev, with abstention from the vote of the directors appointed by AB InBev.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">The result of the transaction above mentioned was R$1,236.8 million, of which R$1,240.0 million was recognized in the income statement on exceptional items.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">Acquisition of Archibald Microbrasserie</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">On April, 2016, the Company, through its&nbsp;wholly-owned subsidiary Labatt Breweries, in Canada, acquired the company Archibald Microbrasserie, known for its local beers and seasonal specialties. Furthermore, in Brazil, acquired 66% of the company Sucos do Bem, which has a range of juices, teas and cereal bars. The acquisition amount added was approximately R$155 million. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Acquisition of Mark Anthony Group Companies</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">On January, 2016, the Ambev, through its&nbsp;wholly-owned subsidiaries, CRBS S.A. and Ambev Luxembourg, acquired companies to a range of primarily spirit&shy;-based beers and ciders from Mark Anthony Group, by R$1.4 billion.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Business Acquisitions and Creation of B.Blend</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">During 2015 the Company, through its subsidiaries, effected&nbsp;the purchase of companies Wals (&#8220;Tropical Juice&#8221;), Colorado (&#8220;Beertech Bebidas&#8221;), Bogota Beer Company (&#8220;BBC&#8221;), Cervecer&#237;a BBC SAS (&#8220;Cerveceria BBC&#8221;), Mill Street Brewery (&#8220;Mill St. </FONT>

<a name="page_178"></a><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Brewery&#8221;) and Banks Holdings Limited
(&#8220;BHL&#8221;). Along with Whirpool has&nbsp;initiated&nbsp;the&nbsp;setting-up of the
one joint venture, named B. Blend, being&nbsp;the first platform beverages in
capsules all-in-one of the world.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-14</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
&nbsp; <A name=page_178></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">2.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">STATEMENT OF COMPLIANCE</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The consolidated financial statements
have been prepared using the accounting basis of going concern and are being
presented in accordance with International Financial Reporting Standards
(&#8220;IFRS&#8221;) as issued by the International Accounting Standards Board (&#8220;IASB&#8221;) that
were effective as of December 31, 2017. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">3.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">There were no significant changes in
accounting policies and calculation methods used for the financial statements as
of December 31, 2017 in relation to those presented in the financial statements
for the years ended December 31, 2016 and 2015.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">(a)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Basis of preparation and measurement</FONT></B></P>
<P style="MARGIN: 0in 0in 0in 0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The financial statements are presented in </FONT><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=black face="times new roman">million</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> of Brazilian Real (&#8220;R$&#8221;), </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=black face="times new roman">unless otherwise indicated, rounded to the nearest
</FONT><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=black face="times new roman">million</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=black face="times new roman">
indicated</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">. The measurement basis used in
preparing the financial statements is historical cost, net realizable value,
fair value or recoverable amount.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">(b)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Recently issued IFRS</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The reporting standards below were
published and are mandatory</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> for future annual </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">reporting </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">periods</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">. Although IFRSs anticipate early
adoption, in Brazil, regulators have prevented this anticipation in order to
preserve aspects of comparability. Accordingly, for the year ended December 31,
2017, these standards were not applied in the preparation of these financial
statements:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">IFRS 9 - Financial </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Instruments</FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> (effective from annual periods
beginning on or after 1 January 2018), which will replace IAS 39, introduces a
logical approach for the classification of financial assets, which is driven by
cash flow characteristics and the business model in which an asset is held;
defines a new expected-loss impairment model that will require more effective
recognition; and introduces a substantially-reformed model for hedge accounting,
with enhanced disclosures about risk management activity. The new hedge
accounting model represents a significant overhaul of the policies and aligns
the accounting treatment with risk management activities. IFRS 9 also removes
the volatility in profit or loss that was caused by changes in the credit risk
of liabilities elected to be measured at fair value. The company evaluated the
possible impacts arising from the application of IFRS 9 and </FONT><a name="page_179"></a><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">does not identify a significant impact
on its financial position and/or its financial performance.</FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-15</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_179></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">IFRS 15 -</FONT></B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> </FONT></I><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Revenue from Contracts with
Customers</FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> (</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">effective from annual periods beginning
on or after 1 January 2018)</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">requires revenue recognition to depict
the transfer of goods or services to customers in amounts that reflect the
consideration (that is, payment) to which the Company expects to be entitled in
exchange for those goods or services. The new standard will also result in more
and enhanced disclosures about revenue, provide guidance for transactions that
were not previously addressed comprehensively (for example, service revenue and
contract modifications) and improve guidance for multiple-element arrangements.
In view of the Ambev&#8217;s activities, the company does not identify that the
application of IFRS 15 will have a significant impact on its financial position
and/or its financial performance.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">IFRS 16 &#8211; Leases</FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman">(effective from annual periods beginning on or after 1
January 2019) replaces the existing lease accounting requirements and represents
a significant change in the accounting and reporting of leases that were
previously classified as operating leases, with more assets and liabilities to
be reported on the balance sheet and a different recognition of lease
costs.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman">The company is in process of assessing the full impact of
IFRS 16 and expects changes in the presentation of operating leases in the
balance sheet.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman">Other Standards, Interpretations and Amendments to
Standards </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman">The other amendments to standards effective for annual
periods beginning after 1&nbsp;January 2017, have not been listed above because
of either their non-applicability to or their immateriality to Ambev&#8217;s
consolidated financial statements.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">(c)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">Consolidated financial statements</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The financial statements of subsidiaries, joint
arrangements and associates used in its consolidated financial statements are
prepared for the same reporting period as Ambev, using consistent accounting
policies.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">All intercompany transactions, balances and unrealized
gains or losses on transactions between group companies have been
eliminated.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Subsidiaries</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company controls an entity when it is exposed to or
has rights to variable returns due to its involvement with the organization and
is able to affect those returns through its power over the entity. In assessing
control, potential voting rights are taken into account. Control is presumed to
exist where the Company owns, directly or indirectly, more than one half of the
voting rights (which does not always equate to economic </FONT><a name="page_180"></a><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">ownership), unless it can be demonstrated that such
ownership does not constitute control. </FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-16</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_180></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Subsidiaries are consolidated as from the date in which
control is obtained to the Company, except when the predecessor basis of
accounting is applied for common control transfers. Consolidation is
discontinued as from the date control ceases.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Ambev uses the purchase method to account for business
combinations. The consideration transferred for the acquisition of a subsidiary
is the fair value of the assets transferred, the liabilities incurred and the
equity interest issued by Ambev. The consideration transferred includes the fair
value of any asset or liability resulting from a contingent consideration
agreement, when applicable. Costs related to the acquisition are recognized in
income, as incurred. Assets, liabilities and contingent liabilities
acquired/assumed in a business combination are recognized initially at their
fair values at the acquisition date. Ambev recognizes the non-controlling
interest in the acquiree, either at fair value or at the non-controlling
interest&#8217;s proportionate share of the net assets acquired. The measurement of
non-controlling interest to be recognized is determined for each
acquisition.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The excess: (i) of the consideration paid; (ii) of the
amount of any non-controlling interests in the acquiree (when applicable); and
(iii) of the fair value, at acquisition date, of any previous equity interest in
the acquiree, over the fair value of the net identifiable assets acquired, at
the date of acquisition, is recorded as goodwill. When the consideration
transferred is less than the fair value of net assets acquired, the difference
is recognized directly in income.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">All intercompany transactions, balances and unrealized
gains and losses on transactions between group companies have been eliminated.
Unrealized losses are eliminated in the same way as unrealized gains, but only
to the extent that there is no evidence of impairment.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-17</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_181></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Joint arrangements</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Joint arrangements are all entities over which the
Company shares control with one or more parties. Joint arrangements are
classified as either joint operations or joint ventures depending on the
contractual rights and obligations of each investor.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=black face="times new roman">Business combination between entities under common
control</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Business combinations between entities
under common control have not been addressed by IFRS&#8217;s. The IFRS 3 is the
pronouncement that shall be applied to business combinations, however it
explicitly excludes business combinations between entities under common control
from its scope.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Therefore, in accordance with IAS 8,
Management has adopted an accounting practice which is consistent with United
States Generally Accepted Accounting Principles (USGAAP) and United Kingdom
Generally Accepted Accounting Principles (UKGAAP), the predecessor basis of
accounting to record the carrying amount of the asset received, as recorded by
the parent company.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Under the predecessor basis of
accounting, when accounting for a transfer of assets or a swap of shares between
entities under common control, the entity that receives the net assets or the
equity interests (the acquirer) shall initially record the assets and
liabilities transferred at their parent book value at the transfer date. If the
book value of assets and liabilities transferred by the parent are different
from the historical cost registered by the controlling entity of the entities
under common control (the ultimate parent), the financial statements of the
acquirer shall reflect the assets and liabilities transferred at the same cost
of the ultimate parent.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Regarding transactions between entities
under common control that involve the disposal or transfer of assets from the
subsidiary to its parent company, i.e. - above the level of our consolidated
financial statement &#8211;, the Company assess the existence of (i) conflict of
interests and (ii) economic substance and purpose. Having fulfilled these
assumptions, the Company adopted as a policy the concepts of IAS 16 in order to
provide adequate visibility and fair impact on the amount of the distributable
results to our shareholders, specially the non-controlling interests. This
policy also includes assets acquired through the swap of non-cash assets, or
swap with a combination of cash and non-cash assets. The assets subject to the
swap may be of equal or different nature. The cost of such asset is measured at
fair value, unless (i) the swap transaction is not commercial in nature, or (ii)
the fair value of the asset received (and the asset assigned) cannot be reliably
measured. The acquired asset is measured through this way even if the assignor
entity cannot immediately exclude the asset from its books. If the acquired
asset is not measurable at fair value, its cost is determined by the book value
of the assigned asset.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-18</FONT></P>
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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_182></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Whenever there is a distribution of
assets that is not recorded as cash, the asset, before its distribution, is
registered at fair value in the income account. This procedure is applicable to
the distributions in which the assets are equal in nature and therefore treated
equitably. However, similarly to IFRIC 17, in the absence of a specific
accounting practice for transactions under common control, we apply this
procedure in our accounting practice. Also, we apply the same procedure to sales
(products, supplies, etc.) we perform to our controlling entity, where the
positive result of the sale is recognized in the income account.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(d)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Foreign currency translation</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 76.55pt; TEXT-INDENT: -76.55pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 46.75pt 0pt 76.55pt; TEXT-INDENT: -76.55pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Functional and presentation
currency</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The items included in the financial
statements of each subsidiary of the Company are measured using the currency of
the primary economic environment in which the entity operates (&#8220;functional
currency&#8221;).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The functional and presentation currency
of the Company financial statements is the Brazilian Real. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Transactions and balances</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Foreign currency transactions are
accounted for at exchange rates prevailing at the date of the transactions.
Monetary assets and liabilities denominated in foreign currencies are translated
at the balance sheet date rate. Non-monetary assets and liabilities denominated
in foreign currencies are translated at the foreign exchange rate prevailing at
the date of the transaction. Non-monetary assets and liabilities denominated in
foreign currencies that are stated at fair value are translated at exchange
rates ruling at the dates the fair value was determined. Gains and losses
arising from the settlement of transactions in foreign currencies and resulting
from the conversion of assets and liabilities denominated in foreign currencies
are recognized in the income statement.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The foreign exchange gains and losses
related to loans and cash and cash equivalents are presented in the income
statement as finance cost or finance income.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Conversion of the financial statements
of subsidiaries located abroad</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Assets and liabilities of subsidiaries
located abroad are translated at foreign exchange rates prevailing at the
balance sheet date, while amounts from income statement and cash flows are
translated at average exchange rates for the year and the changes in equity are
translated at historical exchange rates of each transaction. The translation
adjustments arising from the difference between the average exchange rates and
the historical rates are recorded directly in Carrying value
adjustments.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-19</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_183></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">On consolidation, exchange differences
arising from translation of equity in foreign operations and borrowings and
other currency instruments designated as net investment hedges are recognized in
Carrying value adjustments, an equity reserve, and included in Other
comprehensive income.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The goodwill and fair value adjustments
arising from the acquisition of a foreign entity are treated as assets and
liabilities of the foreign entity and translated at the closing rate.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Net investment in a foreign
operation</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">An entity may have a monetary item that
is receivable from or payable to a foreign operation which settlement is neither
planned nor likely to occur in the foreseeable future and do not include trade
receivables or trade payables. Exchange differences arising shall be recognized
initially in other comprehensive income and reclassified from equity to profit
or loss on disposal of the net investment.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Exchange rates</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The most significant exchange rates used
in the preparation of the Company&#8217;s financial statements are as
follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Closing rate</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%" colSpan=3>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Average rate</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Currency</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Name</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Country</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="4%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">CAD</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Canadian Dollars</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Canada and Cuba</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2.6380</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2.4214</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2.8124</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2.4567</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2.6348</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2.5661</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">DOP</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Dominican Pesos</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Dominican republic</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0685</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0700</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0860</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0674</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0755</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0725</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">USD</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">US Dollar</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=ES style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Ecuador <SUP>(i)</SUP>, Panam&#225; and
      Cuba<SUP>(ii)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3.3080</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3.2591</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3.9048</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3.2017</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3.4749</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3.2596</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">GTQ</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Quetzal</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Guatemala</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.4500</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.4343</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.5129</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.4344</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.4570</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.4265</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">PEN</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Novo Sol</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Peru <SUP>(i)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.9720</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.1440</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.0269</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.0396</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">ARS</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Argentinean Peso </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Argentina</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.1762</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.2056</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.3003</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.1931</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.2354</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.3581</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">BOB</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Bolivian Peso</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Bolivia</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.4753</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.4683</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.5610</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.4600</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.4993</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.4683</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">PYG</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Guarani</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Paraguai</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0006</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0006</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0007</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0006</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0006</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0006</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">UYU</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Uruguayan Peso</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Uruguay</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.1151</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.1114</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.1304</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.1116</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.1166</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.1197</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">CLP</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Chilean Peso</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Chile</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0054</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0049</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0055</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0049</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0051</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0050</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">COP</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Peso colombiano</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Col&#244;mbia </FONT><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(i)</FONT></SUP></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0011</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0012</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0011</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.0012</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">BBD</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Barbadian Dollar</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Barbados</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.6307</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.6075</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.5783</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.7139</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(i) Until&nbsp; December 31, 2016, due
to exchange of shareholdings</FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">,&nbsp; </FONT></B><FONT lang=EN-NZ style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">according the Note 1 - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Corporate information</FONT></I><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-NZ style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">(ii) The functional currency of Cuba,
the Cuban convertible peso (&#8220;CUC&#8221;), has a fixed parity with the dollar (&#8220;USD&#8221;)
at balance sheet date.</FONT></P>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-20</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_183></A>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(e)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Segment reporting</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Reportable segments are identified based
on internal reports regularly reviewed by the chief operating decision maker of
the Company for purposes of evaluating the performance of each segment and
allocating resources to those segments. Accordingly, segment information is
presented on geographical areas, since the risks and rates of return are
affected predominantly by the fact that the Company operates in different
regions. The Company&#8217;s management structure and the information reported to the
chief decision are structured the same way.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The performance information by business
units (Beer and Soft drink (&#8220;CSD&#8221;) and Non-alcoholic and non-carbonated
(&#8220;NANC&#8221;)), is also used by the decision maker for the Company and is presented
as additional information, even though it does not qualify as a reportable
segment. Internally, the Company&#8217;s management uses performance indicators, such
as earnings of consolidated operation before interest and taxes (EBIT) and
normalized earnings of consolidated operation before interest, taxes,
depreciation and amortization (normalized EBITDA) as measures of segment
performance to make decisions about resource allocation and performance analysis
of consolidated operation. These indicators are reconciled to the profit of the
segment in the tables on Note 5 </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&#8211; Segment reporting</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company operates its business
through three zones identified as reportable segments:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&#9642; Latin America North, which includes
our operations (a) in Brazil and Luxembourg, where we operate two business sub
units: (i) beer and (ii) CSD and NANC; and (b) in Central America Operations
(&#8220;CAC&#8221;), which includes our operations in the Dominican Republic (which also
serves the islands of the Caribbean: Saint Vincent, Dominica, Antigua and
Barbados), Guatemala (which also serves El Salvador and Nicaragua), Cuba and
Panama;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&#9642; </FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Latin America South, which includes our
operations in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and
Colombia.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&#9642; </FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Canada, represented by Labatt&#8217;s
operations. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(f)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Revenue recognition</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company recognizes revenue when the
amount of revenue can be measured reliably and it is probable that economic
benefits associated with the transaction will flow to the Company.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Revenue comprises the fair value of the
amount received or receivable upon selling products or rendering services in the
ordinary course of business. Revenue is presented </FONT><a name="page_185"></a><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">net of taxes, returns, rebates and
discounts, as well as net of elimination of sales between group
companies.</FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-21</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_184></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Goods sold</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">In relation to the sale of goods,
revenue is recognized when the significant risks and rewards of ownership have
been transferred to the buyer, and no significant uncertainties remain regarding
recovery of the consideration due, the costs associated with the possible return
of the products, and when there is no continuing management involvement with the
goods. Revenue from the sale of goods is measured at the fair value of the
consideration (price) received or receivable, net of returns, commercial
deductions and discounts.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">As part of its commercial policy, the
Company provides unconditional discounts to its customers, which are recorded as
s deductions at the time of sales.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Finance income</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Finance income consists of interest
received or receivable on funds invested, foreign exchange gains, gains on
currency hedging instruments offsetting currency losses, gains on hedging
instruments that are not part of a hedge accounting relationship, gains on
financial assets classified as held for trading, as well as any gains from hedge
ineffectiveness.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Interest income is recognized on an
accrual basis unless collectability is in doubt.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(g)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Expenses</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Royalty expenses</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Royalties are classified as cost of
goods sold.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Finance costs</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Finance costs comprise interest payable
on borrowings, calculated using the effective interest rate method, foreign
exchange losses, losses on currency hedging instruments offsetting currency
gains, results on interest rate hedging instruments, losses on hedging
instruments that are not part of a hedge accounting relationship, losses on
financial assets classified as held for trading, impairment losses on financial
assets classified as available for sale, as well as any losses from hedge
ineffectiveness. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">All interest costs incurred in
connection with borrowings or financial transactions are expensed as incurred as
part of finance costs, except when capitalized. Any difference between the
initial amount and the maturity amount of interest bearing loans and </FONT><a name="page_186"></a><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">borrowings, such as transaction costs
and fair value adjustments, are recognized in the income statement over the
expected life of the instrument on an effective interest rate method. The
interest expense component of finance lease payments is also recognized in the
income statement using the effective interest rate method.</FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-22</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_185></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(h)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Exceptional items</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Exceptional items are those that in
Management&#8217;s judgment need to be disclosed separately by virtue of their size or
incidence. In determining whether an event or transaction is special, Management
considers quantitative as well as qualitative factors such as the frequency or
predictability of occurrence, and the potential of impact on the variation of
profit or loss. These items are disclosed in the income statement or separately
disclosed in the notes to the financial statements. Transactions that may give
rise to exceptional items are principally restructuring activities, acquisition
of subsidiaries, impairment losses, and gains or losses on disposal of assets
and investments.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(i)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Income tax and social contribution</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Income tax and social contribution for
the year comprises current tax and deferred tax. Income tax and social
contribution are recognized in the income statement, unless they relate to items
recognized directly in comprehensive income or other equity accounts. In these
cases the tax effect is also recognized directly in comprehensive income or
equity account (except interest on shareholder&#8217;s equity. See Note 3 (p)).
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The current tax expense is the
expectation of payment on the taxable income for the year, using tax rates
enacted, or substantially enacted, at the balance sheet date, and any adjustment
to tax payable in respect of previous years.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The deferred taxes are recognized using
the balance sheet liability approach. This means that a deferred tax liability
or asset is recognized for all taxable and tax deductible temporary differences
between the tax and accounting basis of assets and liabilities. Under this
method, a provision for deferred taxes is also calculated on the differences
between the fair value of assets and liabilities acquired in a business
combination and their tax basis. IAS 12 prescribes that no deferred tax
liability on goodwill recognition, and no deferred tax asset/liability is
recorded: (i) at the initial recognition of an asset or liability in a
transaction other than a business combination that at the time of the
transaction affects neither accounting nor taxable profit or loss; and (ii) on
differences related to investments in subsidiaries to the extent that they are
not reversed in the foreseeable future. The amount of deferred tax provided is
based on the expectation of the realization or settlement of the temporary
difference, using currently or substantially enacted tax rates.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-23</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_186></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Deferred tax assets and liabilities are
offset if there is a legally enforceable right to offset current tax liabilities
and assets, and they relate to income taxes levied by the same tax authority on
the same taxable entity, or on different taxable entities which intend either to
settle current tax liabilities and assets on a net basis, or to realize the
assets and settle the liabilities simultaneously.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The deferred tax asset is recognized
only to the extent that it is likely that future taxable profits will be
available. The deferred income tax asset is reduced to the extent that it is no
longer probable that the future taxable benefit will occur.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(j)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Property, plant and equipment</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Property, plant and equipment are
measured at cost less accumulated depreciation and impairment losses. The cost
includes the purchase price, borrowing cost incurred during the construction
period and any other costs directly attributable to bringing the asset to the
location and condition necessary for it to be capable of operating in the manner
intended by management (e.g. nonrefundable tax, transport and the costs of
dismantling and removal and site restoration, if applicable). The cost of a
self-constructed asset is determined using the same principles as for an
acquired asset. The depreciation methods, residual value, as well as the useful
lives are reassessed and adjusted if appropriate, annually.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Borrowing costs directly attributable to
the acquisition, construction or production of qualifying assets are capitalized
as part of the cost of such assets.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Land is not depreciated since it is
deemed to have an indefinite life.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Property, plant and equipment, and
depreciation include the effects of the predecessor basis of accounting,
according the Note 1 - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Corporate information</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Subsequent expenditures</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company recognizes in the carrying
amount of an item of property, plant and equipment the cost of replacing a
component of such an item if it is probable that the future economic benefits
embodied with the item will flow to the Company and the cost of the item can be
measured reliably. All other costs are expensed as incurred.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Depreciation</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The depreciable amount is the cost of an
asset less its residual value. Residual values, if not insignificant, are
reassessed annually. Depreciation is calculated from the date the asset is
available for use, using the straight-line method over the estimated useful
lives of the assets.</FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-24</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_187></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The estimated useful lives of major
property, plant and equipment classes as follows:</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 15.75pt">
    <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="69%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Buildings</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="31%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 110%" color=windowtext face="times new roman">25 years</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.75pt">
    <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="69%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Plant and equipment</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="31%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 110%" color=windowtext face="times new roman">15 years</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.75pt">
    <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="69%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Fixtures </FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="31%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 110%" color=windowtext face="times new roman">10 years</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.75pt">
    <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="69%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Fittings</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="31%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 110%" color=windowtext face="times new roman">10 years</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.75pt">
    <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="69%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 110%" color=windowtext face="times new roman">External use assets</FONT></P></TD>
    <TD style="HEIGHT: 15.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="31%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;2 - 5
  years</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The assets residual values and useful
lives are reviewed at least annually. Management uses judgment to assess and
ascertain the useful lives of these assets. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Gains and losses on sale</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Gains and losses on sales are determined
by comparing the results with the carrying amount and are recognized in Other
operating income/(expenses) in the income statement.</FONT></P>
<P style="MARGIN: 0in 0in 0in 0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(k)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Goodwill</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Goodwill arises on the acquisition of subsidiaries,
associates and joint arrangements.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Goodwill is determined as the excess (i) of the
consideration paid; (ii)&nbsp; of the amount of any non-controlling interests in
the acquiree (when applicable); and (iii) of the fair value, at acquisition
date, of any previous equity interest in the acquiree, over the fair value of
the net identifiable assets acquired at the date of acquisition. All business
combinations are accounted for by applying the purchase method.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">In conformity with IFRS 3 </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Business Combinations</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">, goodwill is carried at cost and is not amortized, but
tested for impairment at least annually, or whenever there are indications that
the cash generating unit to which the goodwill has been allocated may be
impaired. Impairment losses recognized on goodwill are not reversed. Gains and
losses on the disposal of an entity include the carrying amount of goodwill
relating to the entity sold.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Goodwill is expressed in the functional currency of the
subsidiary or joint operation to which it relates and translated to
</FONT><I><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Reais</FONT></I><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> using the year-end exchange rate. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Regarding associates and joint ventures,
goodwill is included in the carrying amount of the investment in the
associate/joint ventures.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">If the Company&#8217;s interest in the net
fair value of the identifiable assets, liabilities and contingent liabilities
recognized exceeds the cost of the business combination such excess is
recognized immediately in the income statement.</FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-25</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_188></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Expenditure on internally generated
goodwill is expensed as incurred.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-NZ style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Goodwill includes the effects of the
predecessor basis of accounting (Note 3 (c)).</FONT></P>
<P style="MARGIN: 0in 0in 0in 0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(l)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Intangible assets</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Brands</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">When part of the consideration paid in a
business combination is related to brands, these are recognized in a specific
Intangible Assets account and measured at fair value at the acquisition date.
Subsequently, the value of brands can be reduced in case of impairment losses.
Internally generated expenditures for developing a brand are recognized as
expenses.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Software</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Purchased software is measured at cost
less accumulated amortization. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Amortization related to software is
included in cost of sales, distribution and sales expenses, marketing expenses
or administrative expenses based on the activity the software
supports.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Other intangible assets</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Other intangible assets, acquired by the
Company, are stated at acquisition cost less accumulated amortization and
impairment losses.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Other intangible assets also include
multi-year sponsorship rights acquired by the Company. These are initially
recognized at the present value of the future payments and subsequently measured
at cost less accumulated amortization and impairment losses.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-26</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_189></A>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Amortization</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Intangible assets with definite useful
lives are amortized based on the straight-line method over their estimated
useful lives. Licenses, supply and distribution rights are amortized over the
period in which the rights exist. Brands are considered to have an indefinite
life and, therefore, are not amortized. Software and capitalized development
cost related to technology are amortized over 3 to 5 years.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Items that are not amortized are tested
for impairment on an annual basis.</FONT></P>
<P style="MARGIN: 0in 0in 0in 0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(m)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"> </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">&nbsp;Inventories</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Inventories are initially recorded at
the acquisition cost and subsequent valued at the lower of cost and net
realizable value. Cost includes expenditure incurred in acquiring the
inventories and bringing them to their existing location and condition. The
weighted average method is used in determining the cost of
inventories.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The cost of finished products and work
in progress comprises raw materials, other production materials, direct labor,
other direct costs, gains and losses with derivative financial instruments, and
an allocation of fixed and variable overhead based on normal operating capacity.
Net realizable value is the estimated selling price in the ordinary course of
business, less the cost for bringing inventories to sales conditions and selling
costs.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Inventories have their amount reduced on
a case-by-case basis if the anticipated net realizable value declines below its
carrying amount. The calculation of the net realizable value takes into
consideration specific characteristics of each inventory category, such as
expiration date, remaining shelf life, slow-moving indicators, amongst
others.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(n)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Trade receivables</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Accounts receivable are initially
recognized at fair value and subsequently at amortized cost, less provision for
losses on doubtful accounts. An allowance for impairment of trade receivables is
established when there is objective evidence that the Company will not be able
to collect all amounts due according to the original terms of the receivables.
An allowance for impairment loss is recorded for an amount considered sufficient
by management to cover probable losses upon the realization of receivables. The
amount of the allowance is the difference between the asset&#8217;s carrying amount
and the present value of the estimated future cash flows. The allowance for
impairment loss is recognized in the income statement, as are subsequent
recoveries of previous impairments. Historically, no significant losses in trade
receivables have been experienced.</FONT></P>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-27</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_190></A>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(o)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Cash and cash equivalents</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Cash and cash equivalents include all
cash balances, bank deposits, and short-term highly liquid investments with
original maturities of three months or less with insignificant risks of changes
in value,</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; FONT-WEIGHT: normal; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> and </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">readily convertible into
cash.</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; FONT-WEIGHT: normal; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">They are stated at face value, which
approximates their fair value.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">For the purpose of the cash flow
statement, cash and cash equivalents are presented net of bank overdrafts, when
applicable.</FONT></P>
<P style="MARGIN: 0in 0in 0in 0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(p)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Equity</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Issued capital</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company's issued capital consists
only of common shares. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Repurchase of shares</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">When the Company buys back its own
shares, the amount paid, including any additional costs directly attributable is
recognized as a deduction from equity attributable to shareholders, in &#8220;Treasury
shares&#8221; line item.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Share issuance costs</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Incremental costs directly attributable
to the issuance of new shares or options are presented in equity as a deduction,
net of tax, from the proceeds.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Dividends and Interest on shareholder&#8217;s
equity</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Dividends and interest on shareholder&#8217;s
equity are recognized in the liability on the date that are approved on Board of
Directors Meeting, except the minimum statutory dividends provided by the
Company&#8217;s bylaws, that are recognized as a liability when applicable, at the end
of each fiscal year.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The expense of interest attributable to
capital to shareholders is recognized in income for calculation of Brazilian
income and social contribution tax and after are reclassified from shareholders'
equity for presentation purposes in financial statements.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-28</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_191></A>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(q)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Interest-bearing loans and borrowings </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Interest-bearing loans and borrowings
are recognized initially at fair value less attributable transaction costs.
Subsequent to initial recognition, interest-bearing loans and borrowings are
stated at amortized cost with any difference between the initial and maturity
amount being recognized in the income statement over the expected life of
the</FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">instrument on an effective interest rate
basis. The Company has interest-bearing loans and borrowings covered by a hedge
structure (Note 22 &#8211; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Interest-bearing loans and
borrowings</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Borrowing costs directly related to the
acquisition, construction or production of a qualifying asset, that requires a
substantial period of time to get ready for its intended use or sale, are
capitalized as part of the cost of that asset when it is probable that future
economic benefits associated with the item will flow to the Company and costs
can be measured reliably. The other borrowing costs are recognized as finance
costs in the period in which they are incurred.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(r)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Employee benefits</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Post-employment benefits</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Post-employment benefits include
pensions managed in Brazil by Instituto Ambev de Previd&#234;ncia Privada &#8211; IAPP,
post-employment dental benefits and post-employment medical benefits managed by
Funda&#231;&#227;o Zerrenner. Usually, pension plans are funded by payments made by both
the Company and its employees, taking into account the recommendations of
independent actuaries. Post-employment dental benefits and post-employment
medical benefits are maintained by the return on Funda&#231;&#227;o Zerrenner&#8217;s plan
assets. If necessary, the Company may contribute some of its profit to the
Funda&#231;&#227;o Zerrenner.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company manages defined benefit and
defined contribution plans for employees of its companies located in Brazil and
in its subsidiaries located in Dominican Republic, Panama, Uruguai, Bolivia and
Canada.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company maintains funded and
unfunded plans. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">r.1) Defined contribution
plans</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">A defined contribution plan is a pension
plan under which the Company pays fixed contributions into a fund. The Company
has no legal or constructive obligations to pay further contributions if the
fund does not hold sufficient assets to pay all employees for the benefits
relating to employee service in the current and prior periods.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-29</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_192></A>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The contributions of these plans are
recognized as expense in the period they are incurred.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">r.2) Defined benefit
plans</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Typically, defined benefit plans define
an amount of pension benefit that an employee will receive on retirement,
usually dependent on one or more factors such as age, years of service and
compensation.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">For defined benefit plans, expenses are
assessed separately for each plan using the projected credit unit method. The
projected credit unit method takes into account each period of service as giving
rise to an additional unit of benefit to measure each unit separately. Under
this method, the cost of providing pensions is charged to the income statement
during the period of service of the employee. The amounts charged to the income
statement consist of current service cost, interest cost, past service costs and
the effect of any settlements and curtailments. The obligations of the plan
recognized in the balance sheet are measured at the present value of the
estimated future cash outflows using a discount rate equivalent to the
government&#180;s bond rates with maturity terms similar to those of the obligation
and the fair value of the plan assets.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Past service costs result from the
introduction of a new plan or changes to an existing plan. They are recognized
immediately in the income statement, at the earlier of when: (i) the settlements
/ curtailments occurs, or (ii) the Company recognizes related restructuring or
termination costs, unless those changes are conditioned to the employee&#8217;s
continued employment, for a specific period of time (the period in which the
right is acquired). In such case, the past services costs are amortized using
the straight-line method during the period in which the right was
acquired.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Actuarial gains and losses consist of
the effects of differences between the previous actuarial assumptions and what
has actually occurred, and the effects of changes in actuarial assumptions.
Actuarial gains and losses are fully recognized in Carrying value
adjustments.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Re-measurements, comprising of actuarial
gains and losses, the effect of the asset ceiling and the return on plan assets,
both excluding net interest, are recognized in full in the period in which they
occur in the statement of comprehensive income. Re-measurements are not
reclassified to profit or loss in subsequent periods.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">When the amount of the defined benefit
obligation is negative (an asset), the Company recognizes those assets (prepaid
expenses), to the extent of the value of the economic benefit available to the
Company either from refunds or reductions in future contributions.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Other post-employment
obligations</FONT></B></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-30</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_193></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company and its subsidiaries provide
post-employment medical benefits, reimbursement of medication expenses and other
benefits to certain retirees through Funda&#231;&#227;o Zerrenner. These benefits are not
granted to new retirees. The expected costs of these benefits are recognized
over the period of employment, using an accounting methodology similar to that
for defined benefit plans, including actuarial gains and losses.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Termination benefits</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Termination benefits are recognized as
an expense at the earlier of: (i) when the Company is demonstrably committed,
without realistic possibility of withdrawal, to a formal detailed plan to
terminate employment before the normal retirement date, and (ii) when the
Company recognizes costs for a restructuring. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Bonuses</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Bonuses granted to employees and
managers are based on pre-defined company and individual target achievement. The
estimated amount of the bonus is recognized as an expense in the period the
bonus is earned.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(s)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Share-based payments</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Different share and share option
programs allow management and other members appointed by the Board of Directors
to acquire shares of the Company. The fair value of the share options is
estimated at grant date, using an option pricing model that is most appropriate
for the respective option. Based on the expected number of options that will be
exercised, the fair value of the options granted is recognized as an expense
over the vesting period with a credit to equity. When the options are exercised,
equity is increased by the amount of the proceeds received.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(t)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Trade payables</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Trade payables are
recognized</FONT><B><FONT lang=EN-US style="FONT-SIZE: 15pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">initially at fair value and subsequently
at amortized cost using the effective interest method.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-31</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_194></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(u)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Provisions</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Provisions are recognized when: (i) the
Company has a present obligation (legal or constructive) as a result of past
events; (ii) it is likely that a future disbursement will be required to settle
the current obligation; and (iii) a reliable estimate of the amount of the
obligation can be made. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Provisions, except for the mentioned on
item disputes and litigation, are determined discounting the expected future
cash flows, to a pre-tax rate, that reflects the current market assessments of
the time value of money and, where appropriate, the risks specific to the
liability. The increase accruals are recognized as finance expense.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Restructuring</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">A provision for restructuring is
recognized when the Company has approved a detailed restructuring plan, and the
restructuring has either commenced or has been announced. Costs relating to the
ongoing and future activities of the Company are not provided for, but
recognized when expenses are incurred.. The provision includes the benefit
commitments in connection with early retirement and redundancy
schemes.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Disputes and Litigations</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">A provision for disputes and litigation
is recognized when it is more likely than not that the Company will be required
to make future payments as a result of past events. Such items may include but
are not limited to, several claims, suits and actions filed by or against the
Company relating to antitrusts laws, violations of distribution and license
agreements, environmental matters, employment-related disputes, claims from tax
authorities, and other litigation matters..</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(v)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Financial assets and liabilities</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Classification</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company classifies its financial
assets and liabilities in the following categories: (1) at fair value through
profit or loss, (2) loans and receivables, (3) held to maturity&nbsp; and (4)
available for sale. The classification depends on the purpose for which the
financial instruments were acquired. Management determines the classification of
its financial assets at initial recognition.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-32</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_195></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">1) Financial assets and liabilities at
fair value through profit or loss</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Financial assets and liabilities at fair
value through profit or loss are financial instruments held for trading. A
financial asset is classified in this category if acquired principally for the
purpose of being sold in the short term. Derivatives are also categorized as
held for trading unless they are designated as hedges. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">In general, financial instruments of
this category are classified as short-term investments securities, on current
assets. Investments with maturities beyond one year may be classified as
short-term based on Management's intent and ability to withdraw them within less
than one year, as well as, considering their highly liquid nature and the fact
that they represent cash available to fund current operations.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">2) Loans and receivables</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Loans and receivables are non-derivative
financial assets with fixed or determinable payments that are not quoted in an
active market. They are included in current assets, except for maturities
greater than 12 months after the end of the reporting period (these are
classified as non-current assets).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">3) Investments held to
maturity</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Investments</FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">held to</FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">maturity</FONT><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">are financial assets acquired with the
intention and financial ability to hold them in the portfolio until
maturity.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">4) Available-for-sale financial
assets</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Available-for-sale financial assets are
non-derivative financial assets not classified in any other category.
Available-for-sale financial assets are classified as non-current assets, unless
Management intends to dispose of the investment within 12 months of the end of
the reporting period.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Investments in debt and equity
securities are classified in this category. Equity instruments are undertakings
in which the Company does not have significant influence or control. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Recognition and
measurement</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Purchases and sales of financial assets
and liabilities are recognized on the trade date - the date on which the Company
undertakes to buy or sell the asset. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-33</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_196></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Financial assets and liabilities are
realized when the rights to receive cash flows from investments have expired or
have been transferred, in this case, when the Company has transferred
substantially all risks and benefits of ownership.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">1) Financial assets and liabilities at
fair value through profit or loss</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Financial assets and liabilities at fair
value through profit and loss are initially recognized at fair value and
transaction costs are charged to the income statement. Subsequently, they are
carried at fair value. Gains or losses arising from changes in the fair value of
financial instruments at fair value through profit or loss are presented in the
income statement in the period in which they arise.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">2) Loans and receivables</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Loans and receivables are carried at
amortized cost using the effective interest rate.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">3) Investments held to
maturity</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Investments held to maturity are
initially recognized at fair value plus any directly attributable transaction
costs. After initial recognition, investments held to maturity are measured at
amortized cost using the effective interest method, reduced by any on loss
impairment.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">4) Available-for-sale financial
assets</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Available-for-sale financial assets are
initially measured at fair value. Interest and inflation monetary adjustments
are recognized in income. Subsequently, available-for-sale financial assets are
measured at fair value, with changes in fair value recognized in other
comprehensive income, and interests (measured using the effective interest rate
method), recognized in income statement.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">When available-for-sale financial assets
are settled or become impaired, the accumulated fair value adjustments
recognized in other comprehensive income are included in the income
statement.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The fair values of investments with
public quotations are based on current bid prices. If the market for a financial
asset (and for unlisted securities on the stock exchange) is not active, the
Company establishes fair value by using valuation techniques. These techniques
include the use of recent transactions with third parties, reference to other
instruments that are substantially similar, analysis of discounted cash flows
and option pricing models making maximum use of information from the market and
with the least possible information generated by the Company's
management.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Impairment of financial
assets</FONT></B></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-34</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_197></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Management assesses at the end of each
reporting period whether there is objective evidence that a financial asset or
group of financial assets is impaired. If any such indication exists, the
asset&#8217;s recoverable amount is estimated. A financial asset or a group of
financial assets is impaired and an impairment loss is recorded only if there is
objective evidence of impairment as a result of one or more events that occurred
after the initial recognition of the asset (&#8220;loss event&#8221;) and that loss event
(or events) has an impact on the estimated future cash flows of the financial
asset or group of financial assets that can be reliably estimated.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Offsetting of financial
instruments</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Financial assets and liabilities are
offset and the net amount presented in the balance sheet when there is a legally
enforceable right to offset the recognized amounts and there is an intention to
settle on a net basis or realize the asset and settle the liability
simultaneously.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(w)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"> </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Impairment of non-financial assets</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The carrying amounts of non-financial
assets, such as property, plant and equipment, goodwill and intangible assets
are reviewed, at least, at each reporting date to determine whether there is any
indication of impairment. If any such indication exists, the asset&#8217;s recoverable
amount is estimated. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Goodwill, intangible assets that are not
yet available for use and intangibles with an indefinite useful life are tested
for impairment at least annually at the business unit level (which is one level
below the reportable segment) or whenever there is any indication of impairment.
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">An impairment loss is recognized
whenever the carrying amount of an asset or the related cash-generating unit
exceeds its recoverable amount. Impairment losses are recognized in the income
statement. Intangible assets with an indefinite useful life are tested on a fair
value approach applying multiples that reflect current market transactions to
indicators that drive the profitability of the asset or the royalty stream that
could be obtained from licensing the intangible asset to another party in an
arm&#8217;s length transaction.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The recoverable amount of other assets
is determined as the higher of their fair value less costs to sell and value in
use. For an asset that does not generate largely independent cash inflows, the
recoverable amount is determined for the cash-generating unit to which the asset
belongs. The recoverable amount of the cash-generating units to which the
goodwill and the intangible assets with indefinite useful life belong is based
on a discounted free cash flow approach, using a discount rate that reflects
current valuation models of the time value of money and the risks specific to
the asset. These </FONT><a name="page_199"></a><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">calculations are corroborated by
valuation multiples, quoted share prices for publicly traded subsidiaries or
other available fair value indicators. </FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-35</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_198></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">In assessing value in use, the estimated
future cash flows are discounted to their present value using a discount rate
before taxes that reflects current market assessments of the time value of money
and the risks specific to the asset. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Non-financial assets, except by goodwill
are reviewed for possible reversal of the impairment at the reporting date.
Impairment losses are reversed only to the extent that the asset&#8217;s carrying
amount does not exceed the carrying amount that would have been determined, net
of depreciation or amortization, if no impairment loss had been
recognized.</FONT></P>
<P style="MARGIN: 0in 0in 0in 0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(x)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Derivative financial instruments</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company uses derivative financial
instruments in order to mitigate against risks related to foreign currency,
interest rates and commodity prices. Derivative financial instruments that,
although contracted for hedging purposes, do not meet all hedge accounting
criteria are recognized at fair value in the income statement.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Derivative financial instruments are
recognized initially at fair value. Fair value is the amount an asset could be
realized and a liability settled, between knowledgeable parties, in an arm&#8217;s
length transaction. The fair value of derivative financial instruments may be
obtained from quoted market prices or from pricing models that take into account
current market rates, and also credit risk quality of the
counterpart.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Subsequent to initial recognition,
derivative financial instruments are re-measured to their fair value at the
balance sheet date. Changes in fair value of derivative financial instruments
are recognized in the income statement, except when they are designated as hedge
instruments, when any effective portion of gain or loss is recognized directly
in other comprehensive income. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Cash flow, net investment or fair value
hedge accounting is applied to all hedges that qualify for hedge accounting
under IAS 39, including the required hedge documentation and hedge effectiveness
tests.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Cash flow hedge
accounting</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">When a derivative financial instrument
hedges the variability in cash flows of a recognized asset or liability, the
foreign currency risk and the fluctuation of commodity prices associated with a
highly probable forecasted transaction, the effective portion of any resulting
gain or loss on the derivative financial instrument is recognized directly in
other comprehensive income (cash flow hedging reserve). The ineffective portion
of any resulting gain or loss is recognized in the income statement.</FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-36</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_199></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">When a hedging instrument or hedge
relationship is terminated but the hedged transaction is still expected to
occur, the cumulative gain or loss (at that point) remains in other
comprehensive income and is reclassified in accordance with the above policy
when the hedged transaction occurs. If the hedged transaction is no longer
probable, the cumulative gain or loss recognized in other comprehensive income
is recycled into the income statement immediately.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Fair value hedge
accounting</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">When a derivative financial instrument
hedges the variability in fair value of a recognized asset or liability or a
firm commitment, any resulting gain or loss on the hedging instrument is
recognized in the income statement. The hedged item is also stated at fair value
in respect of the risk being hedged, with any gain or loss being recognized in
the income statement. The Company does not apply the fair value hedge accounting
when the hedge item expires, was sold or exercised.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Net investment hedge
accounting</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">When a derivative financial instrument
hedges the net investment in foreign operations, the effective part of any
resulting gain or loss on the derivative financial instrument is recognized
directly in other comprehensive income (translation reserve) , while any gains
or losses relating to the ineffective portion are recognized in the income
statement</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">On disposal of a foreign operation, the
cumulative gains or losses recognized directly in other comprehensive income is
transferred to the income statement.</FONT></P>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Derivative financial instruments at fair
value through profit or loss</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Certain derivative financial instruments
do not qualify for hedge accounting purposes. Changes in fair value of such
derivatives financial instruments are immediately recognized in income
statement.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-37</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_200></A>
<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(y)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Accounting for operating leases</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Leases of assets under which all the
risks and rewards of ownership are substantially retained by the lessor are
classified as operating leases. Payments made under operating leases are charged
to the income statement on a straight-line basis over the term of the
lease.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">When an operating lease is terminated
before the lease period has expired, any payment required to be made to the
lessor by way of penalty is recognized as an expense in the period in which
termination takes place.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">(z)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="Times New Roman">Government grants</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company has benefits from Brazilian
state tax incentive programs to promote industrial development including the
deferral of payment of taxes. These State programs are to promote long-term
increases in employment, industrial decentralization, as well as complement and
diversify the industrial states.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">In the case of these States, the tax
terms are foreseen in tax law. When conditions to obtain these grants exist,
they are under the Company's control. The benefits for the postponement in the
payment of such taxes are recorded in the income statement, on an accrual
basis.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; VERTICAL-ALIGN: top; BACKGROUND: white; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The interest rates and (or) terms of
these loans are advantageous over the market conditions, such financing&nbsp;
are considered as subsidized loans as determined by IAS 20. The referred subsidy
consists of the gain earned when comparing the value of these operations in
market to the value agreed in contract. Thereby, upon funding the subsidy
calculated is recorded in Other operating income, following the treatment for
the other ICMS subsidies. Management reviews annually the market conditions
prevailing in the year to assess such subsidies.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; VERTICAL-ALIGN: top; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; BACKGROUND: white; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Monthly, taking into account the value
of the consideration, the period to maturity, the financing contract interest
rate and the above mentioned discount rate, the reduction in present value
adjustment is allocated to financial income, so as to bring the balance to zero
by the time of settlement of each consideration.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">4.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">USE OF ESTIMATES AND JUDGMENTS</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The preparation of financial statements in conformity
with IFRS requires Management to make judgments, estimates and assumptions that
affect the application of accounting practices and the reported amounts of
assets and liabilities, income and expenses. The estimates and associated
assumptions are based on past experience and various other factors that are
believed to be reasonable under the circumstances, the results of which form the
basis for decision making regarding the judgments about carrying amounts of
</FONT><a name="page_202"></a><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">assets and liabilities that are not readily evident from
other sources. Actual results may differ from these estimates. </FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-38</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_201></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The estimates and assumptions are reviewed on a regular
basis. Changes in accounting estimates may affect the period in which they are
realized, or future periods.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Although each of its significant accounting policies
reflects judgments, assessments or estimates, the Company believes that the
following accounting practices reflect the most critical judgments, estimates
and assumptions that are important to its business operations and the
understanding of its results: </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(i) predecessor basis of accounting (Note 3
(c));</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(ii) business combinations (Note 3 (c) and
(k);</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(iii) impairment (Note 3 (v) and (w));</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(iv) provisions (Note 3 (u));</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(v) share-based payments (Note 3 (s));</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(vi) employee benefits (Note 3 (r));</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(vii) current and deferred tax (Note 3 (i));</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(viii) joint arrangements (Note 3 (c)); e</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(ix) measurement of financial instruments, including
derivatives (Note 3 (v) and (x)).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The fair values of acquired identifiable
intangibles are based on an assessment of future cash flows. Impairment analyses
of goodwill and indefinite-lived intangible assets are performed at least
annually and whenever a triggering event occurs, in order to determine whether
the carrying value exceeds the recoverable amount.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The company uses its judgment to select
a variety of methods including the discounted cash flow method and option
valuation models and makes assumptions about the fair value of financial
instruments that are mainly based on market conditions existing at each balance
sheet date.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Actuarial assumptions are established to
anticipate future events and are used in calculating pension and other long-term
employee benefit expense and liability. These factors include assumptions with
respect to interest rates, rates of increase in health care costs, rates of
future compensation increases, turnover rates, and life expectancy.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The company is subject to income
tax&nbsp;in numerous jurisdictions. Significant judgment is required in
determining the worldwide provision for income tax. There are some transactions
and calculations for which the ultimate tax determination is uncertain. Some
subsidiaries within the Company are involved in tax audits usually in relation
to prior years. These audits are ongoing in various jurisdictions at the balance
sheet date and, by their nature, these can take considerable time until its
conclusion. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">5.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">SEGMENT REPORTING</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 5pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 1pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-39</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_202></A>
<P style="MARGIN: 0in 0in 10pt 21.3pt; TEXT-INDENT: -21.3pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">(a)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">Reportable segments &#8211; Years ended in:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Latin America - north
      <SUP>(i)</SUP></FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Latin America - south<SUP>
      (ii)</SUP></FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Canada</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Consolidated</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
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  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net sales</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">31,086.0</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">28,927.8</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">29,654.9</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,769.7</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,212.9</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11,255.6</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,043.6</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,461.9</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,809.7</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">47,899.3</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">45,602.6</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">46,720.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cost of sales</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(11,935.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(10,870.4)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(9,921.3)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4,122.6)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,685.4)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4,306.8)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,984.2)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,122.2)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,833.3)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(18,041.8)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(16,678.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(16,061.4)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Gross profit</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">19,151.0</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">18,057.4</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">19,733.6</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,647.1</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,527.5</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,948.8</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,059.4</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,339.7</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,976.4</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">29,857.5</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">28,924.6</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">30,658.8</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Distribution
expenses</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4,193.8)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,965.4)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,709.6)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,007.9)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(979.6)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,047.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,093.8)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,140.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,076.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(6,295.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(6,085.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,833.2)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Sales and marketing
    expenses</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,655.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,671.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,264.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,091.3)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,317.6)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,294.8)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(873.2)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(936.3)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(785.9)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,620.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,925.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,344.7)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Administrative expenses</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,954.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,486.3)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,599.8)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(384.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(400.2)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(428.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(285.2)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(279.6)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(253.4)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,623.8)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,166.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,281.3)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other operating
      income/(expenses)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,170.5</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,283.7</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,871.5</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">41.2</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(39.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">60.3</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5.6</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(21.6)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4.2</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,217.3</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,223.1</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,936.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exceptional items</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(56.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,183.2</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(273.9)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(41.3)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(41.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(39.9)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(11.3)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(7.4)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(43.4)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(108.7)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,134.3</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(357.2)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income from operations
      (EBIT)</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,462.0</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11,401.5</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12,757.8</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,163.3</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,749.6</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,198.9</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,801.5</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,954.3</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,821.8</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">16,426.8</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">17,105.4</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">18,778.5</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net finance cost</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,693.3)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,694.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,842.9)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(709.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(439.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(868.6)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(91.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">431.5</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">443.3</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,493.9)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,702.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,268.2)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Share of result of joint
      ventures</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4.7)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(6.8)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.9</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.6</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.8</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.2</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Income before income
      tax</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,764.0</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,700.2</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,916.8</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,453.8</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,310.6</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,330.3</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,712.0</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,387.6</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,266.3</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12,929.8</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13,398.4</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">16,513.4</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax expense</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,309.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,100.1</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,884.7)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,144.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(814.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,154.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(625.7)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(601.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(595.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,079.3)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(315.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,634.2)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Net income</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,454.5</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8,800.3</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9,032.1</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,309.7</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,496.6</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,176.2</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,086.3</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,786.5</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,670.8</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,850.5</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13,083.4</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12,879.2</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Normalized
      EBITDA</FONT></B><SUP><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(iii)</FONT></B></SUP></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13,233.9</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12,805.0</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">15,274.6</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,866.6</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,501.7</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,877.8</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,047.1</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,176.4</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,057.3</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">20,147.6</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">19,483.1</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">22,209.7</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exceptional items</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(56.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,183.2</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(273.9)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(41.3)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(41.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(39.9)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(11.3)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(7.4)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(43.4)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(108.7)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,134.3</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(357.2)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Depreciation. amortization and
      impairment</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,715.8)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,586.7)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,242.9)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(662.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(710.6)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(639.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(234.3)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(214.7)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(192.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,612.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,512.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,074.0)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net finance costs</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,693.3)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,694.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,842.9)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(709.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(439.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(868.6)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(91.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">431.5</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">443.3</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,493.9)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,702.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,268.2)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Share of result of joint
      ventures</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4.7)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(6.8)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.9</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.6</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.8</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.2</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax expense</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,309.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,100.1</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,884.7)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,144.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(814.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,154.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(625.7)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(601.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(595.5)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5,079.3)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(315.0)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,634.2)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Net income</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,454.5</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8,800.3</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9,032.1</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,309.7</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,496.6</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,176.2</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,086.3</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,786.5</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,670.8</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,850.5</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13,083.4</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12,879.2</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Normalized EBITDA margin in
      %</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">42.6%</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">44.3%</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">51.5%</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">45.2%</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">44.1%</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">43.3%</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">33.9%</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">33.7%</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">35.4%</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">42.1%</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">42.7%</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">47.5%</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Acquisition of property, plant and
      equipment</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,862.0</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,352.0</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,442.0</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,051.2</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,365.5</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,654.1</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">292.8</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">317.9</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">285.8</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,206.0</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,035.4</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,381.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Segment assets</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">48,811.7</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">50,935.0</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">47,282.3</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11,558.5</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11,149.0</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12,757.7</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,204.9</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9,245.8</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9,264.6</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">70,575.1</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">71,329.8</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">69,304.6</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Intersegment elimination</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,077.7)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,968.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,996.3)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Non-segmented assets</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">19,354.5</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">16,479.7</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">22,868.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total assets</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">86,851.9</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">83,841.4</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">90,176.3</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Segment liabilities</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">23,031.6</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">22,958.9</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">20,998.7</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,015.2</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,576.4</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,093.9</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,700.2</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,275.7</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,608.6</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">32,747.0</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">31,811.0</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">29,701.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Intersegment elimination</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,077.7)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,968.1)</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,996.3)</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Non-segmented liabilities</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">57,182.6</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">55,998.5</FONT></P></TD>
    <TD style="HEIGHT: 7.1pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">62,471.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 7.1pt">
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">&nbsp;</TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">86,851.9</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">83,841.4</FONT></B></P></TD>
    <TD style="HEIGHT: 7.1pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="7%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">90,176.3</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(i) Latin America &#8211; North: includes
operations in Brazil, Luxembourg &nbsp;and CAC (El Salvador, Guatemala,
Nicaragua, Dominican Republic, Saint Vincent, Dominica,&nbsp; Antigua,
Cuba,&nbsp; Barbados and Panama).</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(ii) Latin America &#8211; South: includes
operations in Argentina, Bolivia, Chile, Paraguay and Uruguay. In addition
Colombia, Ecuador and Peru, until&nbsp; December 31, 2016, due to exchange of
shareholdings</FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">,&nbsp; </FONT></B><FONT lang=EN-NZ style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">according the Note 1 - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Corporate information</FONT></I><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(iii) Normalized EBITDA is calculated
excluding of the net income the following effects: (i) </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax expense</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">, (iii) </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share of results of joint
ventures</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"> (iii) </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net finance result</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">, (iv) Exceptional items, and (v)
Depreciation, amortization and impairment of property, plant and
equipment.</FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-40</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_203></A>
<P style="MARGIN: 0in 0in 10pt 21.3pt; TEXT-INDENT: -21.3pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">(b)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">Additional information &#8211; by Business unit &#8211; Years ended
in:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%" colSpan=8>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Latin America -
      north</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">CAC</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Brazil</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Net sales</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,733.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,973.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,328.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">26,353.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">24,954.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">26,326.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">31,086.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">28,927.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">29,654.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cost of sales</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,045.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,798.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,563.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(9,889.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(9,071.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(8,358.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(11,935.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(10,870.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(9,921.3)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Gross profit</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,687.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,174.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,765.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">16,463.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">15,882.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">17,967.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">19,151.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">18,057.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">19,733.6</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Distribution
expenses</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(538.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(409.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(357.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,655.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,555.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,352.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4,193.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,965.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,709.6)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Sales and marketing
    expenses</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(526.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(456.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(390.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,129.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,214.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,873.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,655.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,671.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,264.0)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Administrative expenses</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(265.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(171.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(158.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,689.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,314.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,441.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,954.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,486.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,599.7)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other operating
      income/(expenses)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">77.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(0.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,092.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,274.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,871.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,170.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,283.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,871.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exceptional items</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(23.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(13.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(8.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(33.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,196.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(265.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(56.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,183.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(273.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income from operations
      (EBIT)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,412.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,132.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">851.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9,049.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,269.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11,906.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,462.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11,401.5</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12,757.8</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net finance cost</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(46.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(9.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">42.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,646.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,685.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,885.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,693.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,694.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,842.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Share of result of joint
      ventures</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">19.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(10.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(25.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(6.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Income before income
      tax</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,371.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,142.2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">894.2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,392.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,558.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,022.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,764.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,700.2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,916.8</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax expense</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(353.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(318.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(269.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,956.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,418.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,615.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,309.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,100.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,884.7)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Net income</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,018.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">823.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">624.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,436.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,976.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8,407.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,454.5</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8,800.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9,032.1</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Normalized
      EBITDA<SUP>(iii)</SUP></FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,842.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,483.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,173.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11,391.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11,321.2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">14,100.7</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13,233.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12,805.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">15,274.6</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exceptional items</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(23.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(13.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(8.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(33.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,196.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(265.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(56.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,183.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(273.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Depreciation, amortization and
      impairment</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(406.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(338.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(314.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,309.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,248.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,928.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,715.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,586.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,242.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net finance costs</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(46.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(9.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">42.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,646.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,685.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,885.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,693.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,694.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,842.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Share of result of joint
      ventures</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">19.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(10.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(25.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(6.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax expense</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(353.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(318.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(269.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,956.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,418.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,615.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,309.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,100.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,884.7)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Net income</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,018.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">823.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">624.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,436.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,977.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8,407.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,454.5</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8,800.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9,032.1</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Normalized EBITDA margin in
      %</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">38.9%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">37.3%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">35.3%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">43.2%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">45.4%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">53.6%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">42.6%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">44.3%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">51.5%</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(i) Normalized EBITDA is calculated
excluding of the net income the following effects: (i) </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax expense</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">, (iii) </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share of results of joint
ventures</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">, (iii) </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net finance result</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">, (iv) Exceptional items, and (v)
Depreciation, amortization and impairment of property, plant and
equipment.</FONT></P>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-41</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_204></A>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%" colSpan=8>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Brazil</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Beer</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Soft drink and <BR>Non-alcoholic
      and <BR>non-carbonated</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Net sales</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">22,509.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">21,173.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">22,441.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,843.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,781.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,884.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">26,353.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">24,954.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">26,326.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cost of sales</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(7,895.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(7,339.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(6,757.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,994.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,731.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,600.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(9,889.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(9,071.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(8,358.3)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Gross profit</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">14,614.2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">13,833.2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">15,683.7</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,849.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,049.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,284.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">16,463.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">15,882.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">17,967.8</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Distribution
expenses</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,961.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,891.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,754.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(694.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(663.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(598.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,655.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,555.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,352.2)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Sales and marketing
    expenses</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,953.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,044.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,691.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(175.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(170.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(182.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,129.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,214.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,873.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Administrative expenses</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,476.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,160.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,341.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(212.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(154.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(99.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,689.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,314.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,441.4)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other operating
      income/(expenses)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">825.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">969.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,551.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">267.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">304.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">320.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,092.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,274.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,871.6</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exceptional items</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(28.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,014.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(265.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">182.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(0.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(33.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,196.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(265.5)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income from operations
      (EBIT)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8,020.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8,721.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,182.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,029.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,547.7</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,723.5</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9,049.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,269.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11,906.4</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net finance cost</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,646.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,685.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,885.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,646.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,685.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,885.7)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Share of result of joint
      ventures</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(10.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(25.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(10.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(25.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Income before income
      tax</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,362.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,010.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8,299.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,029.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,547.7</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,723.5</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,392.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,558.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,022.6</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax expense</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,956.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,418.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,615.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,956.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,418.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,615.3)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Net income</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,406.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,429.2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,683.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,029.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,547.7</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,723.5</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,436.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,976.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8,407.3</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Normalized EBITDA
      <SUP>(i)</SUP></FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10,047.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9,618.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12,038.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,344.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,702.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,061.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11,391.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11,321.2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">14,100.7</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exceptional items</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(28.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,014.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(265.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">182.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(0.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(33.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,196.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(265.5)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Depreciation, amortization and
      impairment</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,999.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,911.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,590.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(310.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(337.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(338.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,309.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,248.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,928.8)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net finance costs</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,646.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,685.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,885.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,646.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,685.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,885.7)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Share of result of joint
      ventures</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(10.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(25.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(10.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(25.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax expense</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,956.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,418.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,615.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,956.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,418.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,615.3)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Net income</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,406.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,429.2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,683.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,029.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,547.7</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,723.5</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,436.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7,976.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8,407.3</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Normalized EBITDA margin in
      %</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">44.5%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">45.4%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">53.6%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">35.8%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">45.0%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">53.1%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">43.2%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">45.4%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">53.6%</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(i) Normalized EBITDA is calculated
excluding of the net income the following effects: (i) </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax expense</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">, (iii) </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share of results of joint
ventures</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">, (iii) </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net finance result</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">, (iv) Exceptional items, and (v)
Depreciation, amortization and impairment of property, plant and
equipment.<BR><BR></FONT></P>
<P style="MARGIN: 0in 0in 0in 14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">6.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">NET SALES</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">The reconciliation between gross sales and net sales is
as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Gross sales
<SUP>(i)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">72,411.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">79,551.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">97,214.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Excise duty</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(16,192.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(16,345.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(17,471.7)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Discounts <SUP>(i)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(8,318.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(17,603.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(33,022.3)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">47,899.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">45,602.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">46,720.2</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">(i)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Variance resulting from the change in the billing method
with direct effect on Gross sales and Discounts.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Services provided by distributors, such
as the promotion of our brands and logistics services are considered as expense
when separately identifiable.</FONT></P>
<P style="MARGIN: 0in 0in 0in 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-42</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_205></A>
<P style="MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">7.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">OTHER OPERATING INCOME / (EXPENSES)</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 13pt" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Government grants/NPV of long term
      fiscal incentives</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">993.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,166.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,755.7</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(Additions)/reversals to
      provisions</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(12.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(132.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(106.1)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Gains/(losses) on disposal of property,
      plant and equipment, intangible assets and operation in
      associates</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">91.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">70.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">53.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other operating income/(expenses),
      net</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">145.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">118.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">233.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,217.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,223.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,936.0</FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 13pt" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Government grants are not recognized
until there is reasonable assurance that the Company will meet related
conditions and that the grants will be received. Government grants are
systematically recognized in income during the periods in which the Company
recognizes as expenses the related costs that the grants are intended to
offset.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">8.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">EXCEPTIONAL ITEMS</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The exceptional items included in the
income statement are detailed below:</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Result through exchange transaction of
      shareholdings<SUP>(i)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,240.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Restructuring</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(105.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(79.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(63.3)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Administrative
    lawsuit</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(239.2)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Costs arising from business
      combinations</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(29.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(48.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Others</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5.8)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(108.7)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,134.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(357.2)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">(i) It refers to result of transaction of exchange of
shareholdings, as mentioned in Note 1 (b).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company opted to exclude these items
when measuring segment-based performance, as per Note 5 &#8211; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Segment reporting</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">.</FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> </FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">On December 2017, the Company recorded
</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">exceptional net finance cost of R$977
million &#8211; see Note 11 -</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"> </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Finance cost and income</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"> &#8211; and a exceptional income tax expense
of R$2.8 billion &#8211; see Note 12 - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Income tax and social
contribution</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">9.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">PAYROLL AND RELATED BENEFITS</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Wages and salaries</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,371.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,038.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,086.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Social security
    contributions</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">741.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">727.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">756.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other personnel cost</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">616.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">613.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">561.3</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Increase in liabilities for defined
      benefit plans</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">138.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">151.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">142.3</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share-based payment</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">236.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">189.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">209.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Contributions to defined contribution
      plans</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">18.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">25.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">19.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,123.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,746.2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,774.6</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-43</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_206></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The result with payroll and related
benefits are presented in the income statement as below:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Cost of sales </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,714.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,912.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,890.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Distribution expenses
    </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">791.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">780.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">722.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Sales and marketing expenses
      </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,096.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">989.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">980.8</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Administrative expenses
      </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,470.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">970.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,154.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Net finance cost </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">42.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">95.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">27.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Exceptional items </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,123.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,746.2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,774.6</FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">10.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">ADDITIONAL INFORMATION ON OPERATING EXPENSES BY
NATURE</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Depreciation, amortization and
impairment expenses are included in the following income statement accounts for
the years 2017, 2016 and 2015:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=middle rowSpan=2 width="35%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Depreciation and impairment of
      property, plant and equipment</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="33%" colSpan=3>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Amortization of intangible
      assets</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="29%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cost of sales</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,364.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,283.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,053.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Distribution expenses</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">197.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">200.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">177.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="29%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Sales and marketing
    expenses</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">532.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">538.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">431.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">142.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">222.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">162.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="29%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Administrative expenses</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">231.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">182.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">165.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">142.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">95.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">81.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="29%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,325.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,204.7</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,828.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">290.5</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">323.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">247.2</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">11.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">FINANCE COST AND INCOME</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">(a)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">Finance costs</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Interest expense</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,571.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,547.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,062.6)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Capitalized
    borrowings</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">26.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net Interest on pension
    plans</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(77.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(105.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(97.6)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Losses on hedging instruments
      </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(616.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,575.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,267.0)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest on provision for disputes and
      litigations</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(225.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(619.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(120.1)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Exchange variation</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(339.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(310.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(721.8)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Tax on financial
      transactions</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(179.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(224.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(146.4)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Bank guarantee
    expenses</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(89.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(87.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(80.8)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Other financial
    results</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(193.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(132.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(92.1)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,291.5)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4,597.9)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,562.4)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Non-recurring finance
      cost</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(976.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4,268.3)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4,597.9)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,562.4)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman">The exceptional net finance cost refers to PERT 2017
which Ambev applied for &#8211; see Note </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">19 - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">Income tax and social contribution</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman">and to the realization of the exchange variation of loans
settled with related parties historically recognized in shareholders'
equity.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-44</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_207></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Interest expenses are presented net of
the effect of interest rate derivative financial instruments which mitigate
Ambev interest rate risk (Note 27 &#8211; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial instruments and
risks</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">). The interest expense are as
follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial liabilities measured at
      amortized cost</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(477.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(545.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(423.1)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Liabilities at fair value through
      profit or loss</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,076.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(961.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(601.3)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Fair value hedge - hedged
      items</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(19.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(49.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(22.4)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Fair value hedge - hedging
      instruments</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(15.8)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,571.6)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,547.3)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,062.6)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">(b)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">Finance income</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest income</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">458.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">513.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">575.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Gains on derivative</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">73.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">113.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">428.3</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial assets at fair value
      through profit or loss</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">227.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">247.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">261.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other financial results</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">14.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">21.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">29.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">774.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">895.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,294.2</FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Interest income arises from the
following financial assets:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cash and cash
      equivalents</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">233.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">241.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">425.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Investment securities held for
      trading</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">26.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">51.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">149.6</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Other receivables</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">198.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">221.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">458.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">513.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">575.5</FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">12.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">INCOME TAX AND SOCIAL CONTRIBUTION</FONT></B></P>
<P style="MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 13pt; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Income taxes reported in the income
statement are analyzed as follows:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax expense -
      current</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5,332.3)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(413.9)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,227.8)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Deferred tax expense on temporary
      differences</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">891.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(732.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,192.4)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Deferred tax over taxes losses
      carryforwards movements&nbsp; in the current period</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(638.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">831.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(214.0)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total deferred tax
      (expense)/income</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">253.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">98.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,406.4)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total income tax
    expenses</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5,079.3)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(315.0)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3,634.2)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-45</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_208></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The reconciliation from the weighted
nominal to the effective tax rate is summarized as follows:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income before tax</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12,929.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13,398.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16,513.4</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Adjustment on taxable
      basis</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Non-taxable income </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(310.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(392.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(999.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Government grants related to sales
      taxes </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,889.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,528.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,360.7)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share of results of joint
      ventures</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.1)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Non-deductible expenses</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">91.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">539.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">415.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Complement of income tax of foreign
      subsidiaries due in Brazil </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">560.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">148.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,965.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Results of intercompany transactions
      non-taxable/not deductible in Brazil</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(547.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">640.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,313.2)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10,836.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12,810.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15,217.6</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Aggregated weighted nominal tax
      rate</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">29.22%</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">30.16%</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">31.59%</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Taxes payable &#8211; nominal rate
      </FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3,166.6)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3,864.0)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(4,806.9)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Adjustment on tax
    expense</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Regional incentives - income
      taxes</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">304.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">264.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">257.8</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Deductible interest on shareholders'
      equity</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,649.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,867.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,646.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Tax savings from goodwill amortization
      on tax books</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">175.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">142.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">142.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Withholding tax over undistributed
      profits</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(356.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">153.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(672.4)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Recognition / write-off of deferred
      charges on tax losses</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(178.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">796.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">138.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">PERT 2017</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,784.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others with reduced
    taxation</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(721.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">325.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(339.3)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income tax and social contribution
      expense</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5,079.3)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(315.0)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3,634.2)</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="58%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Effective tax rate</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">39.28%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.35%</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8.5pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">22.01%</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">The main events that impacted the
effective tax rate in the period were:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>
<DIV>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR>
    <TD vAlign=top width="2%"><FONT face=Wingdings>&#167;</FONT></TD>
    <TD vAlign=top width="98%">
      <P style="TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=#000000 face="Times New Roman">Government subsidy on sales taxes: The reduction of
      tax expense reflects the deductibility of investment subsidies arising
      from deferred and presumed ICMS credits.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="2%"></TD>
    <TD vAlign=top width="98%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="2%"><FONT face=Wingdings>&#167;</FONT></TD>
    <TD vAlign=top width="98%">
      <P style="TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=#000000 face="Times New Roman">Deductible Interest on net equity: Under Brazilian
      law, companies have the option to distribute interest on equity (&#8220;JCP&#8221;),
      calculated based on the long-term interest rate (&#8220;TJLP&#8221;), Which are
      deductible for income tax purposes under the applicable legislation, which
      amount to be distributed until now is R$4,869.8, of which R$4,850.1 are
      deductible and the tax impact is R$1,649.0.</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="2%"></TD>
    <TD vAlign=top width="98%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="2%"><FONT face=Wingdings>&#167;</FONT></TD>
    <TD vAlign=top width="98%">
      <P style="TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=#000000 face="Times New Roman">Withholding tax on dividends: the variance is
      mainly driven by two factors (i) reversal of the provision related to
      withholding tax on unremitted earnings of Argentinean subsidiaries in 2016
      due to a change in the local law that exempts the payment of dividends
      from withholding tax; and (ii) constitution of provision and exchange
      variation effect related to withholding tax on unremitted earnings of
      Canadian subsidiaries of approximately R$ 145 million, as opposed to the
      approximated amount of R$ 5 million in the same period of the previous
      year.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P></TD></TR>
  <TR>
    <TD vAlign=top width="2%"></TD>
    <TD vAlign=top width="98%">&nbsp;</TD></TR>
  <TR>
    <TD vAlign=top width="2%"><FONT face=Wingdings>&#167;</FONT></TD>
    <TD vAlign=top width="98%">
      <P style="TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=#000000 face="Times New Roman">Amongst the contingencies covered by the Federal
      Tax Amnesty Program (&#8220;PERT 2017&#8221;), there is a litigation whose purpose was
      to discuss the Presumed Profit method <FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=#000000 face="Times New Roman">used by CRBS (one of Ambev&#8217;s subsidiaries in
      Brazil) to calculate its Corporate Income Taxes (namely, &#8220;IRPJ&#8221; and
      &#8220;CSLL&#8221;). The total amount booked as an expense, after the conversion of
      the Provisional Measure 783/2017 into Law, was R$ 2,926 million
      (principal, fine and interests), being R$ 2,785 million booked as
      non-recurring expenses under Corporate Income Tax and R$ 141 million under
      Financial Results.</FONT></FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">
<P style="MARGIN: 0in 0in 0in 0.5in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=black face="Times New Roman"></FONT>&nbsp;</P>
<DIV></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<P></P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-46</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
&nbsp; <A name="page_209"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 14.2pt; TEXT-INDENT: -14.2pt">

<FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=black face="Times New Roman">&nbsp;&nbsp;&nbsp; </FONT></P>

<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">13.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">PROPERTY, PLANT AND EQUIPMENT</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Land and buildings</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Plant and equipment</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Fixtures and fittings</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Under construction</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisition cost</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end of previous year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">8,330.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">22,764.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4,584.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,740.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">37,419.4</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Effect of movements in foreign exchange</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">3.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">34.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(27.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">8.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">18.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Business combinations</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">228.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(24.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">204.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisitions </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">10.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">626.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">171.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2,367.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">3,175.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Disposals</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(25.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(555.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(125.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(706.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Transfer to other asset categories</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">415.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,657.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">473.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,857.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(310.9)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">36.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">35.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">8,961.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">24,538.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">5,076.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,257.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">39,835.1</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Depreciation and Impairment</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end of previous year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,278.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(13,075.3)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,912.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(18,265.6)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Foreign exchange effects</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(12.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(104.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(116.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Depreciation</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(299.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,245.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(655.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(3,200.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Impairment losses</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(125.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(0.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(125.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Disposals and write-off</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">5.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">539.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">109.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">654.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Transfer to other asset categories</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">29.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">5.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">33.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">7.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">7.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,585.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(14,973.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(3,453.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(21,012.8)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Carrying amount:</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">6,052.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">9,689.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,672.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,740.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">19,153.8</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">6,376.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">9,565.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,623.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,257.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">18,822.3</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-47</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_210"></A>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Land and buildings</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Plant and equipment</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Fixtures and fittings</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Under construction</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisition cost</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end of previous year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">7,718.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">22,369.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4,465.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2,132.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">36,685.6</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Effect of movements in foreign exchange</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(474.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1,528.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(427.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(222.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,652.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisitions through business combinations</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">283.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">360.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">56.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">700.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisitions through exchange transaction of shareholdings</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">221.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">185.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">27.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">433.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Disposals through exchange transaction of shareholdings</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(121.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(344.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(101.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(4.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(571.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisitions </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">8.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">819.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">276.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2,905.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4,009.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Disposals</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(106.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(693.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(210.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(3.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1,012.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Transfer to other asset categories</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">800.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,595.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">526.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(3,095.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(173.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">8,330.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">22,764.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4,584.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,740.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">37,419.4</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Depreciation and Impairment</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end of previous year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,244.0)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(12,562.6)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,738.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(17,545.5)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Foreign exchange effects</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">95.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">804.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">236.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,137.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Disposals through exchange transaction of shareholdings</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">52.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">241.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">51.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">345.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Depreciation</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(277.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,117.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(688.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(3,083.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Impairment losses</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(0.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(120.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(0.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(120.9)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Disposals</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">95.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">646.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">187.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">928.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Transfer to other asset categories</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">21.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">39.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">61.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">11.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">11.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,278.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(13,075.3)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,912.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(18,265.6)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Carrying amount:</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">December 31, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">5,474.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">9,807.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,726.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2,132.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">19,140.1</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">6,052.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">9,689.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,672.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,740.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">19,153.8</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Leases, capitalized interests and fixed assets provided as guarantee are not material.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 150%" color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 150%" color=windowtext face="Times New Roman">14.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 150%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 150%" color=windowtext face="Times New Roman">GOODWILL</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end of previous year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">30,511.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">30,953.1</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Effect of movements in foreign exchange</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">489.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,388.9)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisition and disposal through business combinations <SUP>(i)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">401.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,947.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at the end of year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">31,401.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">30,511.2</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">(i) In 2017 it refers mainly to the goodwill allocation of acquisition of &nbsp;Cachoeiras de Macacu, and in 2016 refers to the acquisition of Mark Anthony and Cerveceria Nacional in the transaction of exchange of shareholdings.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-48</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_211"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The carrying amount of goodwill was allocated to the different cash-generating units as follows</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">:</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="55%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Functional currency</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">LAN:</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Brazil</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">BRL</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">17,668.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">17,424.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp; Goodwill</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">102,911.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">102,667.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="72%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp; Non-controlling transactions <SUP>(i)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (85,242.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(85,242.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Dominican Republic</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">DOP</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,163.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,224.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cuba <SUP>(ii)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">USD</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Panama</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">PAB</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,149.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,060.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">LAS:</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Argentina</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">ARS</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">443.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">518.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Bolivia</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">BOB</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,170.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,152.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Chile</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">CLP</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">47.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">42.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Paraguay</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">PYG</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">786.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">753.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Uruguay</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">UYU</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">170.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">165.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

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   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">NA:</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="55%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Canada</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">CAD</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,800.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">6,165.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="55%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">31,401.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">30,511.2</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">(i) It refers to the exchange of shareholdings operation occurred in 2013 as a result of the adoption of the predecessor basis of accounting.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">(ii) The functional currency of Cuba, the Cuban convertible peso (CUC), has a fixed parity with the dollar (USD) at balance sheet date.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Annual impairment testing</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Goodwill impairment testing relies on a number of critical judgments, estimates and assumptions. Goodwill, which accounted for approximately 36% of total assets as of December 31, 2017 (36% as of December 31, 2016) is tested for impairment at the cash-generating unit level (that is one level below the reporting segments). The cash-generating unit level is the lowest level at which goodwill is monitored for internal management purposes. In a business combination occurs, goodwill is allocated as from the acquisition date, to each of business units that are expected to benefit from the synergies of the combination. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company&#8217;s impairment testing methodology is in accordance with IAS 36, in which a fair-value-less-cost-to-sell and value in use approaches are taken into consideration. This consists in applying a discounted cash flow approach based on acquisition valuation models for its major business units and the business units showing high capital amounts invested in earnings before interest, taxes, depreciation and amortization (&#8220;EBITDA&#8221;) multiples. The ratio between invested capital and EBITDA is basis for selecting the cash generating units to be tested.</FONT></P>

<DIV>

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<TR>

   <TD vAlign=top width="2%"><FONT face=Wingdings>&#167;</FONT></TD>

   <TD vAlign=top width="98%">

   <P style="MARGIN: 0in 0in 0pt 14.2pt; LINE-HEIGHT: 115%; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 7pt" color=#000000 face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#000000 face="Times New Roman">Only for CGU Latin America North there was need to apply the impairment test;</FONT></P></TD></TR></TABLE></DIV>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-49</FONT></P>

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&nbsp; <A name="page_212"></A>

<DIV>

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<TR>

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   <P style="MARGIN: 0in 0in 0pt 14.2pt; LINE-HEIGHT: 115%; TEXT-INDENT: -14.2pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=#000000 face="Times New Roman">For Latin America South and Canada there was no need to apply the impairment test.</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"><BR>The key judgments, estimates and assumptions used in the discounted free cash flow calculations are generally as follows:</FONT></P>

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   <P><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=#000000 face="Times New Roman">The first year of the model is based on management's best estimate of the free cash flow outlook for the current year;</FONT></P></TD></TR>

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   <TD vAlign=top width="2%"></TD>

   <TD vAlign=top width="98%">&nbsp;</TD></TR>

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   <TD vAlign=top width="2%"><FONT face=Wingdings>&#167;</FONT></TD>

   <TD vAlign=top width="98%">

   <P style="TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=#000000 face="Times New Roman">In the second to fourth years of the model, free cash flows are based on ABInBev's strategic plan as approved by key management.&nbsp; AB&nbsp;InBev's strategic plan is prepared per country and is based on external sources in respect of macro-economic assumptions, industry, inflation and foreign exchange rates, past experience and identified initiatives in terms of market share, revenue, variable and fixed cost, capital expenditure and working capital assumptions;</FONT></P></TD></TR>

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   <TD vAlign=top width="2%"></TD>

   <TD vAlign=top width="98%">&nbsp;</TD></TR>

<TR>

   <TD vAlign=top width="2%"><FONT face=Wingdings>&#167;</FONT></TD>

   <TD vAlign=top width="98%">

   <P style="TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=#000000 face="Times New Roman">From the fifth to the tenth year of the model, as well as for perpetuity, the cash flows are extrapolated using expected long-term consumer price indices and the growth of the beer market, based on external sources specific from each UGC;</FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%"></TD>

   <TD vAlign=top width="98%">&nbsp;</TD></TR>

<TR>

   <TD vAlign=top width="2%"><FONT face=Wingdings>&#167;</FONT></TD>

   <TD vAlign=top width="98%">

   <P style="TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=#000000 face="Times New Roman">Projections are made in the functional currency of the business unit and discounted at the unit's weighted average cost of capital (&#8220;WACC&#8221;), considering sensitivities on this metric. </FONT></P></TD></TR>

<TR>

   <TD vAlign=top width="2%"></TD>

   <TD vAlign=top width="98%">&nbsp;</TD></TR>

<TR>

   <TD vAlign=top width="2%"><FONT face=Wingdings>&#167;</FONT></TD>

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   <P style="TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: normal" color=#000000 face="Times New Roman">Cost to sell is assumed to reach 1.5% of the entity value based on historical precedents.</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The weighted average cost of capital in nominal dollars, for the impairment testing of goodwill performed varied as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=windowtext face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=windowtext face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=windowtext face="times new roman">Latin America North</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="25%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=windowtext face="times new roman">from 8.59% to 10.29%</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="26%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=windowtext face="times new roman">from 8.39% to 10.27%</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Although Ambev believes that its judgments, assumptions and estimates are appropriate, actual results may differ from these judgments.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-50</FONT></P>

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&nbsp; <A name="page_213"></A>

<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=PT-BR style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">15.</FONT></B><B><FONT lang=PT-BR style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=PT-BR style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">INTANGIBLE </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=PT-BR style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2017</FONT></B></P></TD></TR>

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   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Distribution</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Brands</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">contracts</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Software</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Others</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisition cost</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end of previous year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4,160.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2,319.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">888.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">460.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">7,829.4</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Effect of movements in foreign exchange</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(10.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">7.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(12.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(16.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisitions </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">18.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">8.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">30.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisitions through business combination</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(4.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(4.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Transfers to other assets categories</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(650.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">6.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">265.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">26.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(352.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">46.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">46.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end of year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">3,514.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2,333.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,144.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">540.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">7,533.3</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Amortization and Impairment losses<SUP>(i)</SUP></FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end of previous year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1,760.8)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(597.0)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(223.8)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,583.5)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Foreing exchange effects</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">5.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">5.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Amortization</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(138.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(118.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(32.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(290.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Transfers to other assets categories</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(0.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end of year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1,894.6)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(711.8)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(250.3)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,858.6)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Carrying amount:</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4,158.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">558.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">291.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">236.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">5,245.9</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">3,512.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">438.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">432.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">290.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4,674.7</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">(i) The period of amortization of intangible assets of definite useful life is five years and amortization is calculated at the rate of 20% and recognized in income on a straight-line method.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="65%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Distribution</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Brands</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">contracts</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Software</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Others</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisition cost</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end of previous year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">3,908.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2,387.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">788.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">356.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">7,440.8</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Effect of movements in foreign exchange</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(645.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(68.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(50.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(93.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(858.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisitions </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">3.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">19.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">26.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Disposal </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(0.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(0.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(0.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisitions through business combination</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,043.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">30.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,073.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisitions through exchange transaction of shareholdings</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">228.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">20.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">248.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Disposals through exchange transaction of shareholdings</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(58.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(9.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(0.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(67.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Transfers to other assets categories</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(317.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">135.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(24.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(206.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">172.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">172.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end of year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4,160.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2,319.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">888.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">460.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">7,829.4</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Amortization and Impairment losses <SUP>(i)</SUP></FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end of previous year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1,622.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(539.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(184.8)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,348.6)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Foreing exchange effects</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">9.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">29.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">40.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">79.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Amortization</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(148.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(94.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(80.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(323.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Disposal</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Disposals through exchange transaction of shareholdings</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">8.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">8.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Transfers to other assets categories</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Balance at end of year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1,760.8)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(597.0)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(223.8)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,583.5)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Carrying amount:</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">December 31, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">3,906.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">765.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">248.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">172.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">5,092.2</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4,158.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">558.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">291.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">236.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">5,245.9</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman">(i) The period of amortization of intangible assets of definite useful life is five years and amortization is calculated at the rate of 20% and recognized in income on a straight-line method.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-51</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_214"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company is the owner of some of the world&#8217;s leading brands in the beer industry. As a result, brands are expected to generate positive cash flows for as long as the Company owns the brands and accordingly have been assigned indefinite lives. The most representative brands that have been registered as result of fair value determination of past acquisitions are </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Quilmes</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> in Argentina, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Pilsen</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> in Paraguay and Bolivia and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Presidente </FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Presidente Light</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> in Dominican Republic.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The carrying value of intangible assets with indefinite useful lives classified as brands was allocated to the following CGU:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Argentina</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">348.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">373.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Bolivia</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">567.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">558.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Brazil</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">575.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Canada</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">223.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">205.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Chile</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">69.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">63.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Luxembourg</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">339.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">419.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Paraguay</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">447.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">429.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Dominican Republic</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,396.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,422.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Uruguay</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">115.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">111.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,512.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,158.9</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">Intangible assets with indefinite useful lives have been tested for impairment at a cash-generating unit level basis consistent with the same approach described in Note 14 &#8211; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">Goodwill</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">16.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">INVESTMENT SECURITIES</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Debt held-to-maturity <SUP>(i)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">122.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">104.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Non-current investments securities</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">122.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">104.3</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Financial asset at fair value through profit or loss-held for trading</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">282.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Current investments securities</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">282.8</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">133.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">387.1</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">(i) The balance refers substantially to Bank Deposit Certificates - CDB linked to tax incentives.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">17.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">DEFERRED INCOME TAX AND SOCIAL CONTRIBUTION</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Deferred taxes for income tax and social contribution taxes are calculated on tax losses, the negative tax basis of social contributions and the temporary differences between the tax bases and the carrying amount in the financial statement of assets and liabilities. The rates of these taxes in Brazil, which are expected at the realization of deferred taxes, are 25% for income tax and 9% for social contribution. For the other regions, with operational activity, expected rates, are as follow:</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-52</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_215"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="67%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">Central America and the Caribbean</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="33%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">from 23% to 31%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="67%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">Latin America <SUP>(i)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="33%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">from 14% to 35%</FONT></P></TD></TR>

<TR style="HEIGHT: 11.35pt">

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="67%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">Canada</FONT></P></TD>

   <TD style="HEIGHT: 11.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="33%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">26% </FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 150%" color=windowtext face="times new roman">(i) Amendments to Argentine tax legislation approved on December 29, 2017 affect tax periods beginning in October 2018 and reduce the income tax rate in the first two years from 35% to 30% and, as a after, to 25%. For fiscal year 2017, however, there is an impact of R $ 33.0 million in deferred income tax.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Deferred tax assets are recognized to the extent that it is probable that future taxable profit will be available to be used to offset temporary differences / loss carry forwards based on projections of future results prepared and based on internal assumptions and future economic scenarios which may therefore change.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The amount of deferred income tax and social contribution by type of temporary difference is detailed as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Assets </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Liabilities </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Net </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Assets </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Liabilities </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Net </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Investment securities</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">39.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">39.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">9.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">9.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Intangible</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(719.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(719.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(733.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(733.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Employee benefits</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">631.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">631.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">467.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">467.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Trade payables</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,382.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(314.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,068.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">977.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(531.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">446.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Trade receivable</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">52.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">52.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">42.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">42.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Derivatives</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">71.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(110.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(39.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Inventories</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">248.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(18.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">230.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">267.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(13.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">253.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Property, plant and equipment</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(920.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(920.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(905.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(905.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Withholding tax over undistributed profits and royalties</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(788.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(788.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(684.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(684.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Investments in associates</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(421.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(421.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(421.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(421.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Loss carryforwards</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">501.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">501.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,139.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,139.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Provisions</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">347.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(39.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">307.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">448.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(44.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">404.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other items</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(30.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(30.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(15.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(24.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(39.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Gross deferred tax assets / (liabilities)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,208.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3,258.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(49.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,409.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3,471.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(61.5)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Netting by taxable entity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(929.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">929.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,141.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,141.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net deferred tax assets / (liabilities)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,279.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,329.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(49.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,268.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,329.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(61.5)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The Company only offsets the balances of deferred income tax and social contribution assets against liabilities when they are within the same entity and are expected to be realized in the same period.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Tax losses and negative bases of social contribution and temporary deductible differences in Brazil, on which the deferred income tax and social contribution were calculated, have no expiry date.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">At December 31, 2017 the assets and liabilities deferred taxes related to combined tax losses has an expected utilization/settlement by temporary differences as follows:</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-53</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_216"></A>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="49%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="51%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2017</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Deferred taxes not related to tax losses</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">to be realized until 12 months</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">to be realized after 12 months</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR>

   <TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman"></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman"></FONT></P></TD>

   <TD style="BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman"></FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Investment securities</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">39.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">39.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Intangible assets</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(719.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(719.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Employee benefits</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">112.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">518.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">631.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Trade payables</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,382.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(314.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,068.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Trade receivable</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">47.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">5.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">52.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Derivatives</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Inventories</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">230.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">230.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Property, plant and equipment</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(58.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(862.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(920.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Withholding tax over undistributed profits and royalties</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(788.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(788.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Investments in associates</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(421.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(421.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Provisions</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">91.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">215.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">307.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Other items</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(30.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ffffff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(30.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,807.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(2,358.6)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(550.9)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="80%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Deferred tax related to tax losses</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="80%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2018</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">209.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="80%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2019</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">98.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="80%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2020</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="80%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2021</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="80%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">A partir de 2022<SUP> (i)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">167.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="80%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">501.0</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 150%" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 150%" color=windowtext face=Arial,sans-serif>(i) There is no expectation of realization that exceeds the term of 10 years.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">As at December 31, 2017, deferred tax assets in the amount of R$427.4 (R$455.6 as at December 31, 2016) related to tax losses and temporary differences of subsidiaries abroad were not recorded as the realization is not probable.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Major part of the fiscal losses amount do not have a carryforward limit for utilization&nbsp;and the tax losses carried forward in relation to them are equivalent to R$1,709.5 in December 31, 2017 (R$2,285.2 in December 31, 2016). </FONT></P>

<DIV></DIV>

<P></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-54</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_217"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The net change in deferred income tax and social contribution is detailed as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="79%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">At December 31, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">276.3</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 27pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Full recognition of actuarial gains/(losses) </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">57.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 27pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Investment hedge</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(12.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 27pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Investment hedge - put option of a subsidiary interest</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(364.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 27pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Cash flow hedge - gains/(losses)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">536.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 27pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Gains/losses on translation of other foreign operations </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(578.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="79%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Recognized in other comprehensive income</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(360.9)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="79%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Recognized in income statement</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">98.9</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Changes directly in balance sheet</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(75.8)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="79%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Recognized in deferred tax</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(21.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Anticipation federal amnesty</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(54.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">At December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(61.5)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 27pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Full recognition of actuarial gains/(losses) </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">40.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 27pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Investment hedge</FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(262.7)</FONT></P></TD></TR>

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   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 27pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Investment hedge - put option of a subsidiary interest</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(31.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

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   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 27pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Cash flow hedge - gains/(losses)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(269.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 27pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Gains/(losses) on translation of other foreign operations </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">136.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Recognized in other comprehensive income</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(387.4)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Recognized in income statement</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">253.0</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Changes directly in balance sheet</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">146.0</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Recognized in deferred tax</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">35.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Recognized in other group of balance sheet</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">110.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="79%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">At December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="21%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(49.9)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">18.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">INVENTORIES </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Finished goods </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,528.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,445.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Work in progress</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">309.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">328.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Raw material</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,816.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,962.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Consumables</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">77.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">50.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Spare parts and other</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">476.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">447.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Prepayments</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">210.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">234.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Impairment losses</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(100.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(121.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,319.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,347.1</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Write-offs/losses on inventories recognized in the income statement amounted to </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">R$73.2 in </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017 (R$</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">114.4 in </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">19.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">TRADE RECEIVABLES</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Trade receivables</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5,335.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,774.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Bad debt provision</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(521.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(443.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net, trade receivables </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,814.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,330.8</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Related parties</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">130.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">37.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total current trade receivables </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,944.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,368.1</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The aging of our current trade receivables, net of impairment losses, is detailed as follows: </FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-55</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_218"></A>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net carrying</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">amount as of</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">December 31,</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">No past</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">due</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Past due &#8211;</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;until 30</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;days</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Past due &#8211; </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">between </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">31 - 60 </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">days </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Past due &#8211;</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;between 61 </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">- 90 days</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Past due &#8211; </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">between</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;91 - 180</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;days</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Past due &#8211; </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">between </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">181 - 360</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;days</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Past due </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">360 days</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Trade receivables</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,335.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,343.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">340.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">32.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">63.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">85.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">42.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">427.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Bad debt provision</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(521.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(0.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(0.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(0.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(45.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(42.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(427.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,814.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,339.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">340.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">31.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">62.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">39.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Trade receivables</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,774.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4,093.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">187.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">28.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">43.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">30.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">38.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">352.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Bad debt provision</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(443.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(6.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(9.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(30.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(38.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(352.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,330.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,086.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">186.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">24.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">33.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Impairment losses on trade receivables recognized in the income statement in 2017 amount to R$83.1 (R$82.1 in 2016).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Company&#8217;s exposure to credit risk, currency and interest rate risks is disclosed in Note 27 -</FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Financial instruments and risks</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">.</FONT></P>

<P style="MARGIN: 0in 0in 0in 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">20.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">CASH AND CASH EQUIVALENTS</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face=Arial,sans-serif></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Short term bank deposits <SUP>(i)</SUP></FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,688.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,027.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Current bank accounts</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5,077.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,467.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">588.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">381.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash and cash equivalents</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10,354.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7,876.8</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Bank overdrafts</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash and cash equivalents less bank overdraft</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10,352.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7,876.8</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(i) The balance refers mostly to Bank Deposit Certificates - CDB, high liquidity, which are readily convertible into known amounts of cash and which are subject to an insignificant risk of change in value.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">21.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">CHANGES IN EQUITY</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(a) Capital stock </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="37%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Million of<BR>commom shares</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Million of<BR>Real</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Million of<BR>commom shares</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Million of<BR>Real</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Beginning balance as per statutory books</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15,717.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">57,614.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15,717.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">57,614.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="37%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share issued</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="37%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15,717.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="14%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">57,614.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="4%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15,717.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">57,614.1</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-56</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_219"></A>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(b) Capital reserves</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%" colSpan=4>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Capital Reserves&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Treasury shares&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Share Premium&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Others capital reserves&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp; Share-based Payments&nbsp; </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp; Total&nbsp; </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;At December 31, 2015 </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,003.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">53,662.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">700.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,013.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">54,373.6</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Purchase of shares and result on treasury shares</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">94.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">94.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share-based payments</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">61.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">61.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;At December 31, 2016 </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(908.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">53,662.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">700.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,074.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">54,529.9</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Purchase of shares and result on treasury shares</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share-based payments</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">157.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">157.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;At December 31, 2017 </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(895.0)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">53,662.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">700.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,232.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">54,701.0</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(b.1) Treasury shares</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The treasury shares comprise own issued shares reacquired by the Company and the result on treasury shares that refers to gains and losses related to share-based payments transactions and others.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Follows the changes of treasury shares:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%; MARGIN-LEFT: 0pt" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">Acquire /realization shares</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">Result on </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">Treasure Shares</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">Total Treasure </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" face="times new roman">Shares</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Million</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">shares</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Million</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Brazilian Real</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Million</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">shares</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom rowSpan=2 width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Million</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Brazilian Real</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">At December 31, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">32.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(617.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(386.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,003.5)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Changes during the year</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(16.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">304.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(209.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">94.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">At December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(312.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(596.0)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(908.7)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Changes during the year</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(9.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">173.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(159.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">At December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(139.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(755.3)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(895.0)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt">&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(b.2) Share premium</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The share premium refers to the difference between subscription price that the shareholders paid for the shares and theirs nominal value. Since this is a capital reserve, it can only be used to increase capital, offset losses, redeem, reimbursement or repurchase shares.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(b.3) Share-based payment</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">There are different share-based payment programs and stock option plans which allow the senior management from Ambev economic group to receive or acquire shares of the Company. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The share-based payment reserve recorded a charge of </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">R$209.3 in</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> 2017 (</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">R$170.3 and R$197.1 in 2016 and 2015, respectively</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">) (Note 24 &#8211; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Share-based payments</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">).</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-57</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_220"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">(c) Net income reserves</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="42%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="60%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net income reserves</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="42%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Investments</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">reserve </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Statutory</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">reserve </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Fiscal</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">incentive </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest on capital</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">and dividends</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">proposed </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">At December 31, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">2,141.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">4.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">4,016.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">2,039.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">8,201.1</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Interest on shareholder&#180;s equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(2,039.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(2,039.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Destination of net income</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,718.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,819.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">3,538.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">At December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">3,859.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">4.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">5,835.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">9,700.1</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Interest on shareholder&#180;s equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(3,770.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(3,770.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Fiscal incentive reserve</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,552.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,552.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="42%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Investments reserve</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,177.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,177.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="42%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">At December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,267.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">4.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">7,388.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">8,660.2</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(c.1) Investments reserve</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">From net income after deductions applicable, will be aimed no more than 60% (sixty per cent) to investment reserve to support future investments.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(c.2) Statutory reserve</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">From net income, 5% will be applied before any other allocation, to the statutory reserve, which cannot exceed 20% of capital stock. The Company is not required to supplement the statutory reserve in the year when the balance of this reserve, plus the amount of capital reserves, exceeds 30% of the capital stock. </FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(c.3) Tax incentives</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">The Company has tax incentives framed in certain state and federal industrial development programs in the form of financing, deferred payment of taxes or partial reductions of the amount due. These state programs aim to promote the expansion of employment generation, regional decentralization, complement and diversify the industrial base of the States. In these states, the grace periods, enjoyment and reductions are permitted under the tax law.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">(c.4) Interest on shareholders&#8217; equity / Dividends</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Brazilian companies are permitted to distribute interest attributed to shareholders&#8217; equity calculated based on the long-term interest rate (TJLP), such interest being tax-deductible, in accordance with the applicable law and, when distributed, may be considered part of the minimum mandatory dividends.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">As determined by its By-laws, the Company is required to distribute to its shareholders, as a minimum mandatory dividend in respect of each fiscal year ending on December 31, an amount not less than 40% of its net income determined under Brazilian law, as adjusted in </FONT>

<a name="page_222"></a>
<FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">accordance with applicable law, unless payment of such amount would be incompatible with Ambev&#8217;s financial situation. The minimum mandatory dividend includes amounts paid as interest on shareholder&#8217;s equity.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-58</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_221"></A>




<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Events during the year ended 2017:</FONT></I></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Event</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Approval</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Type</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Date of payment</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Type of share</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Amount per share</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total amount</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="5%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">05/16/2017</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Dividends</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">07/17/2017</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.1600</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,513.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12/01/2017</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest on shareholder&#180;s equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12/28/2017</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.3100</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,869.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(i)</FONT></SUP></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12/21/2017</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Dividends</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">02/22/2018</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.0700</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,099.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8,482.5 </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 110%" face="times new roman">(i) R$</FONT><FONT lang=EN-US style="FONT-SIZE: 9pt; LINE-HEIGHT: 110%" color=black face="times new roman">3,770.1 </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 110%" face="times new roman">of&nbsp; these i</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 110%" color=black face="times new roman">nterest on shareholder&#180;s equity</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 110%" face="times new roman"> refer to the total amount approved for distribution in the period, and were accrued in investments reserves.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Events during the year ended 2016:</FONT></I></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Event</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Approval</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Type</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Date of payment</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Type of share</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Amount per share</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total amount</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="5%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">01/15/2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest on shareholder&#180;s equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">02/29/2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.1300</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,039.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(i)</FONT></SUP></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">06/24/2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Dividends</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">07/29/2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.1300</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,040.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10/19/2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Dividends</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">11/25/2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.1600</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,511.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1/12/2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest on shareholder&#180;s equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12/29/2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.2200</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,454.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12/22/2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Dividends</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">02/23/2017</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.0700</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,099.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">11,145.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></I>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Events during the year ended 2015:</FONT></I></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Event</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Approval</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="18%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Type</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Date of payment</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Type of share</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Ammount per share</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total amount</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="6%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">02/23/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" width="18%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">Interest on shareholders&#8217; equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">03/31/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">0.0300</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">471.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="6%">

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">(i)</FONT></SUP></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">02/23/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="18%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">Interest on shareholders&#8217; equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">03/31/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">0.0600</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">943.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="6%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">05/13/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" width="18%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">Interest on shareholders&#8217; equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">06/29/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">0.1000</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">1,570.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="6%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">08/28/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="18%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">Dividends</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">09/28/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">0.1500</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">2,352.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="6%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">Board of Directors Meeting</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">12/01/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" width="18%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">Interest on shareholders&#8217; equity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">12/30/2015</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">ON</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">0.1500</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">2,352.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="6%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" width="18%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: char; LINE-HEIGHT: 115%" color=black face="times new roman">7,690.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="6%">&nbsp;</TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(i) These dividends refer to the total amount approved for distribution in the period, and were accrued in investments reserves.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.5in">&nbsp;</H5>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-59</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_222"></A>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.5in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</H5>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.5in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</H5>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in; TEXT-INDENT: -0.5in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">(d) Carrying value adjustments</FONT></B></H5>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

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   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="69%" colSpan=7>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Carrying value adjustments </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Translation reserves</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cash flow hedge</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Actuarial gains/ (losses)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Options granted on subsidiary</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Gains/(losses) of non-controlling interest&#180;s share</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Business combination</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounting adjustments for transactions</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">between</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">shareholders </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="23%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">At December 31, 2015</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,472.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">932.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,131.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,246.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,123.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">156.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(75,162.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(71,857.0)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Comprehensive income:</FONT></I></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Gains/</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(losses) on translation of&nbsp; foreign operations</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,728.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,728.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cash flow hedges</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,076.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,076.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Actuarial gains/(losses)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(130.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(130.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total Comprehensive income </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3,728.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,076.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(130.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4,936.1)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Options granted on subsidiary</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(144.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(144.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Gains/(losses) of controlling interest&#180;s share</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Exchange transaction of shareholdings</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(33.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">29.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(3.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Reversal effect of revaluation of fixed assets by previous cost</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(75.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(75.9)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="23%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">At December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(289.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(144.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,262.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,390.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,150.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">156.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(75,238.8)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(77,019.1)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Comprehensive income:</FONT></I></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Gains/</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(losses) on translation of&nbsp; foreign operations</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,928.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,928.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cash flow hedges</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">513.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">513.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Actuarial gains/(losses)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">117.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">117.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total Comprehensive income </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,928.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">513.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">117.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,559.7</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Put option granted on subsidiary</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(380.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(380.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Gains/(losses) of controlling interest&#180;s share</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(12.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(12.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Tax on fictitious dividends</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(38.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(38.7)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Reversal effect revaluation of fixed assets under the predecessor basis accounting </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(75.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(75.9)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="23%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">At December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,639.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">368.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(1,144.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2,771.3)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2,099.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">156.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(75,314.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="8%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(74,966.5)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>

<H5 style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in">&nbsp;</H5>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-60</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_223"></A>

<H5 style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char" color=windowtext face="Times New Roman">(d.1) Translation reserves</FONT></B></H5>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The translation reserves comprise all foreign currency exchange differences arising from the translation of the financial statements with a functional currency different from the Real.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The translation reserves also comprise the portion of the gain or loss on the foreign currency liabilities and on the derivative financial instruments determined to be effective net investment hedges in conformity with IAS&nbsp;39.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: char" color=windowtext face="Times New Roman">(d.2) Cash flow hedge reserves</FONT></B></H5>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The hedging reserves comprise the effective portion of the cumulative net change in the fair value of cash flow hedges to the extent the hedged risk has not yet impacted profit or loss (For additional information, see Note 27 &#8211; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Financial instruments and risks)</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 13pt" color=windowtext face="times new roman">(d.3) Actuarial gains and losses</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The actuarial gains and losses include expectations with regards to the future pension plans obligations. Consequently, the results of actuarial gains and losses are recognized on a timely basis considering best estimate obtained by Management. Accordingly, the Company recognizes on a monthly basis the results of these estimated actuarial gains and losses according to the expectations presented based on an independent actuarial report.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The actuarial gain of R$158.5 arising from the surplus reverted to the Sponsor, originating from Ambev Private Pension Institute of the defined benefits plan was fully recorded under the heading of actuarial gains and losses.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 13pt" color=windowtext face="times new roman">(d.4) </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 13pt" color=black face="times new roman">Options</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 13pt" color=black face="times new roman"> granted on</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 13pt" color=black face="times new roman"> subsidiary</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 106%" color=windowtext face="times new roman">As part of the shareholders agreement between the Ambev and ELJ, an option to sell (&#8220;put&#8221;) and to purchase (&#8220;call&#8221;) was issued, which may result in an acquisition by Ambev of the remaining shares of Tenedora CND, for a value based on EBITDA, +/- net debt, from operations, the &#8220;put&#8221; exercisable annually until 2019 and the &#8220;call&#8221; from 2019. On December 31, 2017 the put option held by ELJ is valued at R$5,520.2 (R$4,878.5 on December 31, 2016) and the liability categorized as &#8220;Level 3&#8221;, as the Note 27 (b) and in accordance with the IFRS 3. No value has been assigned to the call option held by the Company, since the likelihood of exercise is remote. The fair value of this consideration deferred was calculated by using standard valuation techniques (present value of the principal amount and future interest rates, discounted by the market rate). The criteria used are based on market information and from reliable sources and the fair value is revaluated on an annual basis.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">As disclosed in Note 1, on December 1st, 2017, Ambev&nbsp; informed&nbsp; its&nbsp; shareholders&nbsp; and&nbsp; the&nbsp; general&nbsp; market&nbsp; that&nbsp; the&nbsp; E. Le&#243;n Jimenes, S.A. (&#8220;ELJ&#8221;) will exercise partially its put option </FONT>

<a name="page_225"></a>
<FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">of approximatelly 30% of capital stock by Tenedora. Due to the partial exercise of put option, the Company will be the holder of approximately 85% of Tenedora. Additionally, was approved the change of the call option term from 2019 to 2022. The operation was subject to certain conditions which were consummated on January 18, 2018, as presented in Note 35 - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Events after the reporting period</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-61</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_224"></A>




<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">As part of the agreement to acquire the remaining shares of Sucos do Bem, a put option on interest in subsidiary determined by gross revenue of its products and exercisable from 2019 has been granted. On December 31, 2017 the option is valued at R$132.0 (R$127.7 on December 31, 2016).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">As part of the acquisition agreement of all shares of the company Tropical Juice, currently Cervejaria ZX S.A. a put option on interest in subsidiary exercisable from 2018&nbsp; has been granted. On December 31, 2017 the option is valued at R$23.0 (R$23.4 on December 31, 2016).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The reconciliation of changes in these options is presented in Note 27 </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&#8211; Financial instruments and risks</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 13pt" color=windowtext face="times new roman">(d.5) Accounting for acquisition of non-controlling interests</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">In transactions with non-controlling interests of the same business, even when performed&nbsp;at arm's length terms, that present valid economic grounds and reflect normal market conditions, will be consolidated by the applicable accounting standards as occurred within the same accounting entity.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">As determined by IFRS 10, any difference between the amount paid (fair value) for the acquisition of non-controlling interests and are related to carrying amount of such non-controlling interest shall be recognized directly in controlling shareholders&#8217; equity. The acquisition of non-controlling interest related to Old Ambev, the above mentioned adjustment was recognized in the Carrying value adjustments when applicable.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-62</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_225"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" color=windowtext face="times new roman">(e) </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">Earnings per share</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Basic and diluted earnings per share of the stock option and deferred stock</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The calculation of basic earnings per share is based on the net income attributable to equity holders of Ambev and the proportional weighted average number of shares outstanding during the year.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Diluted earnings per share of the stock option and deferred stock is based on the net income attributable to equity holders of Ambev and the adjusting the weighted average number of shares outstanding during the year to assume conversion of all potentially dilutive shares, as follows:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Million shares</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp;Common </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp;Common </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp;Common </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Issued shares at December 31, net of treasury shares <SUP>(i)</SUP> </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15,705.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15,696.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15,696.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Effect of shares options</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">132.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">126.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">124.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Weighted average number of shares (diluted) at December 31</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15,838.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15,823.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15,820.1</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">(i) Not considered treasury shares.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The tables below present the calculation of earnings per share (&#8220;EPS&#8221;):</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp;Common </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp;Common </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp;Common </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Income attributable to equity holders of Ambev </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">7,332.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">12,546.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">12,423.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Weighted average number of shares (non diluted)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15,705.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15,696.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15,696.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Basic EPS <SUP>(i)</SUP> </FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.47</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.80</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.79</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Income attributable to equity holders of Ambev </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">7,332.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">12,546.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">12,423.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Weighted average numbers of shares (diluted) </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15,838.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15,823.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15,820.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Diluted EPS <SUP>(i)</SUP> </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.46</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.79</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.79</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(i) Expressed in Brazilian Reais. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">(f) Destinations</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">At December 31, 2017, the Company has done the appropriations to retained earnings, in accordance with the Brazilian Corporate law and the Company&#8217;s bylaws.</FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The dividends payments made until December 2017 were approved at the Board of Directors&#8217; Meeting. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Regarding the basis for dividends, the Company believes that the predecessor basis of accounting, as well as its presentation for comparative purposes, will not affect the determination of the minimum mandatory dividend. Therefore, the Company intends to adjust </FONT>

<a name="page_227"></a><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">the calculation basis of the minimum
mandatory dividend to delete any current and future impacts on net income
resulting from the adoption of this accounting practice, related to the
amortization/depreciation of surplus assets or even a possible impairment of
goodwill.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-63</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
&nbsp; <A name=page_226></A>
<a name="_bclPageBorder227"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Net income, attributable to equity holders of&nbsp;
      Ambev</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">7,332.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">12,546.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">12,423.8</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Prescribed dividends</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">34.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">21.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">16.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Reversal effect of revaluation of fixed assets by
      predecessor</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">75.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">75.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">75.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Retained earnings basis for dividends and
      destinations</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">7,442.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">12,644.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">12,515.9</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Dividends and Interest on capital distributed and
      accrued to distribute based on net income for the year</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Dividends and Interest on capital paid based on
      profit</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">3,612.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">5,651.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">7,218.7</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Dividends approved for distribution</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">1,099.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">3,454.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">2,039.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Total of dividends and Interest on capital
      </FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">4,712.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">9,106.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">9,257.9</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Percentage of distributed profit</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">63%</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">72%</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">74%</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Interest on capital distributed and accrued to
      distribute based on the investment reserve</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Interest on capital paid based on the investment
      reserve</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">3,770.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Total of Interest on capital</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">3,770.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">-</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Total of distributed and accrued to
      distribute</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">8,482.5</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">9,106.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">9,257.9</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Percentage of distributed profit</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">114%</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">72%</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">74%</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">22.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">INTEREST-BEARING LOANS AND BORROWINGS</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Secured bank loans</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">589.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">665.8</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Unsecured bank loans</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">413.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">609.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Debentures and unsecured bond
      issues</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">102.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">100.8</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Other unsecured
loans</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">101.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">356.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial leasing</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">24.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">33.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Non-current
      liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,231.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,765.7</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Secured bank loans</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">879.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,381.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Unsecured bank loans</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">394.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,910.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Debentures and unsecured bond
      issues</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">296.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Other unsecured
loans</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">38.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">33.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial leasing</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Current
    liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1,321.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">3,630.6</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Additional information regarding the
exposure of the Company to the risks of interest rate and foreign currency are
disclosed on Note 27 &#8211; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Financial instruments and
risks</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-64</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
&nbsp; <A name="page_227"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; BACKGROUND: white; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">At December 31, 2017 and 2016 debts presented the following interest rates:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="33%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="23%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Debt instruments</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Average rate %</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Current</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Non-current</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Average rate %</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Current</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Non-current</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Debt denominated in USD fixed rate</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">3.83%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">6.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">16.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">6.00%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">11.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Debt denominated in US dollars floating rate</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2.74%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">78.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">476.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1.55%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,508.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">351.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Debt denominated in CAD dollars floating rate</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2.00%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">685.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1.62%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,259.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">BNDES basket debt floating rate (UMBNDES)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1.70%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">22.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other latin american currency fixed rate</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">9.27%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">199.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">8.86%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">114.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">233.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other latin american currency floating rate</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2.33%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">5.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2.66%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">TJLP BNDES denominated floating rate (TJLP)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">9.22%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">165.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">237.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">9.66%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">216.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">398.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Reais debt - ICMS fixed rate</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">5.57%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">38.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">91.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4.13%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">33.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">344.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Reais debt - debentures floating rate % CDI</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">13.63%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">52.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Reais debt - fixed rate</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">6.63%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">147.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">405.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">7.64%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">423.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">421.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="33%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,321.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,231.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">3,630.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,765.7</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Terms and debt repayment schedule &#8211; December 31, 2017</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Total</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Less than 1 year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1-2 years</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2-3 years</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">3-5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">More than 5 years</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Secured bank loans </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,468.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">879.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">253.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">57.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">109.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">168.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Unsecured bank loans</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">808.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">394.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">413.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="28%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Debentures and unsecured bond issues</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">102.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">102.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Unsecured other loans</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">139.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">38.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">32.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">24.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">11.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">33.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Finance lease liabilities</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">33.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">8.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">24.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2,553.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,321.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">724.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">82.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">223.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">201.8</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Contractual clauses (covenants)</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">As at December 31, 2017, the Company's loans had equal rights to payment without subordination clauses. Except for the credit lines due to FINAME contracted by the Company with Banco Nacional de Desenvolvimento Econ&#244;mico e Social &#8211; BNDES (&#8220;BNDES&#8221;), where collateral were provided on assets acquired with the credit granted which serve as collateral; other loans and financing contracted by the Company predicted only guarantees as personal collateral or are unsecured. The most loan contracts contained financial covenants including:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&#8226; financial covenants, including limitation on new indebtedness;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&#8226; going-concern;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&#8226; maintenance, in use or in good condition for the business, of the Company's assets;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&#8226; restrictions on acquisitions, mergers, sale or disposal of its assets; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&#8226; disclosure of financial statements under Brazilian GAAP and IFRS; and/or</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&#8226; no prohibition related to new real guarantees for loans contracted, except if: (i) expressly authorized under the aforementioned loan agreement, (ii) new loans contracted from financial </FONT>

<a name="page_229"></a>
<FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">institutions linked to the Brazilian government - including the BNDES or foreign governments; - or foreign governments, multilateral financial institutions (eg World Bank) or located in jurisdictions in which the Company operates;</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-65</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_228"></A>




<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">These clauses apply to the extent that the events mentioned produce material adverse effects on the Company and / or its subsidiaries or the rights of its creditors, and, in the event of any of the events provided in the clauses, it may have been granted to the Company a grace period to cure such default.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Additionally, all agreements entered into with the BNDES are subject to certain &#8220;provisions applicable to agreements entered into with the BNDES&#8221; (&#8220;Provisions&#8221;). Such Provisions require the borrower, to obtain prior consent of BNDES if they, for instance, wish to: (i) raise new loans (except for loans described in the Provisions); (ii) give preference and/or priority to other debts; and/or (iii) dispose of or encumber any item of their fixed assets (except as provided for in the Provisions).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">As at December 31, 2017, the Company was in compliance with all its contractual obligations for its loans and financings.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">23.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">EMPLOYEE BENEFITS</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company sponsors pension plans to defined benefit to employees in Brazil and subsidiaries located in the Dominican Republic, Panama, Uruguay, Bolivia and Canada based on employees' salaries and length of service. The entities are governed by local regulations and practices of each individual country as well as the relationship with the Company&#8217;s pension funds and their composition.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Ambev provides post-employment benefits, including pension benefits and medical and dental care. Post-employment benefits are classified as either defined contribution or defined benefit plans.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The defined benefit plans and the other post-employment benefits are not granted to new retirees. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 107%" color=windowtext face="times new roman">Defined contribution plans</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">These plans are funded by the participants and the sponsor, and are managed by administered pension funds. During 2017, the Company contributed R$18.9 (R$25.3 during 2016) to these funds, which were recorded as an expense. Once the contributions have been paid, the Company has no further payment obligations.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-66</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_229"></A>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Defined benefit plans</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">At December 31, 2017 the net liability for defined benefit plans consists of the following:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Present value of funded obligations</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5,027.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(4,592.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(4,646.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Fair value of plan assets</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,006.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,845.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,781.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Present value of net obligations</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,021.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(746.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(865.0)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Present value of unfunded obligations</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(757.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(741.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(756.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Present value of net obligations </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,778.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,488.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,621.6)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Asset ceiling</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(368.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(532.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(534.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net liability</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,147.3)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,020.4)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,156.1)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other long term employee benefits</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(105.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(83.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(57.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total employee benefits</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,252.3)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,104.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,213.3)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Employee benefits amount in the balance sheet:</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Liabilities </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,310.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,137.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,221.9)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Assets </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">58.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">33.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">8.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net liabilities</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,252.3)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,104.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,213.3)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The changes in the present value of the defined benefit obligations were as follows:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Defined benefit obligation at January 1 <SUP>st</SUP></FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5,333.4)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5,403.0)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(4,808.0)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisitions through exchange transaction of shareholdings</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(67.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Service cost</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(38.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(43.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(42.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest cost</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(321.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(320.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(308.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Gains and (losses) on settlements or reductions in benefits</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Contributions by plan participants</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(4.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Actuarial gains and (losses) - geographical assumptions</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">77.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(20.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Actuarial gains and (losses) - financial assumptions</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(140.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(321.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">182.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Experience adjustment</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(115.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(182.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(10.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Reclassifications</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(7.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">11.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exchange differences</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(306.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">599.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(805.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Benefits paid</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">400.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">416.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">392.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="43%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Defined benefit obligation at December, 31</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5,785.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5,333.4)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="19%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5,403.0)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 107%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The present value of funded obligations include R$762.0 (R$683.4 in 2016 and R$494.1 in 2015) of two health care plans for which the benefits are provided directly by Funda&#231;&#227;o Zerrenner. Funda&#231;&#227;o Zerrenner is a legally distinct entity whose main goal is to provide the Company&#8217;s current and retired employees and managers with health care and dental assistance, technical and superior education courses, maintaining facilities for assisting and helping elderly people, among other things, through direct initiatives or through financial assistance agreements with other entities. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-67</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_230"></A>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The changes in the fair value of plan assets are as follows:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Fair value of plan assets at January 1 <SUP>st</SUP></FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,845.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,781.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,550.1</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest Income</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">273.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">274.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">259.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Administrative costs</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Expected Return excluding interest income</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(64.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">269.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(173.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisition through business combination</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">73.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Contributions by employer</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">183.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">175.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">107.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Contributions by plan participants</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exchange differences</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">166.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(315.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">428.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Benefits paid excluding costs of administration</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(398.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(416.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(392.9)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Fair value of plan assets at December, 31</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,006.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,845.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,781.4</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The real return on plan assets generated in 2017 was a gain of R$208.5 (gain of R$544.5 in 2016 and R$86.3 in 2015).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman">At December 31, 2017, the Company recorded R$58.4 (R$33.5 at December 31, 2016) up to the asset ceiling not exceeding the present value of future benefits. </FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The changes in the asset ceiling not exceeding the present value of future benefits are as follow:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Asset ceiling impact at January 1 <SUP>st</SUP></FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">33.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12.8</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisitions through exchange transaction of shareholdings</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">10.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Interest income/(expenses)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Change in asset ceiling excluding amounts included in interest income/(expenses)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">15.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(5.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Effect of exchange rate fluctuations&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(2.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Asset ceiling impact at December 31 </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">58.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">33.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8.6</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The income/(expense) recognized in the income statement with regard to defined benefit plans is detailed as follows:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Current service costs</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(38.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(43.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(42.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Administrative costs</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(Gains) losses on settlements and curtailments</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Income from operations</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(37.4)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(46.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(44.7)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Financial cost </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(101.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(105.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(97.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total expense for employee benefits</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(138.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(151.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(142.3)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-68</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_231"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The employee benefit revenue/(expenses) are included in the following line items in the income statement:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cost of sales</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(22.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(24.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(19.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Sales and marketing expenses </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(9.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(7.9)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Administrative expense</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(10.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(10.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(17.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Financial expenses</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(101.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(105.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(97.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="61%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exceptional items</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(138.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(151.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(142.3)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The assumptions used in the calculation of the obligations are as follows:</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

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   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017 </FONT></B><SUP><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(i)</FONT></B></SUP></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016 </FONT></B><SUP><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(i)</FONT></B></SUP></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015 </FONT></B><SUP><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(i)</FONT></B></SUP></P></TD></TR>

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   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Discount rate</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">3.6% to 10.6%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">3.9% to 10.5%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">4.1% to 12.1%</FONT></P></TD></TR>

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   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Inflation</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">2.0% to 5.0%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">2.0% to 5.2%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">2.0% to 5.2%</FONT></P></TD></TR>

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   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Future salary increases </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">1.0% to 8.7%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">1.0% to 8.5%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">1.0% to 8.8%</FONT></P></TD></TR>

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   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Future pension increases</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">2.0% to 4.3%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">2.0% to 4.5%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">2.0% to 4.5%</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Medical cost trend rate </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">4.5% to 7.9% p.a. reducing to 7.9%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">3.8% a 8.2% p.a. reducing to 8.2%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">4.5% to 8.2%&nbsp; p.a. reducing to8.2%</FONT></P></TD></TR>

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   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Dental claims trend rate </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">4.3%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">4.5%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">4.5%</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman"></FONT>&nbsp;</P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Life expectation for an over 65 years old male </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">&nbsp;83 to 87 </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">&nbsp;80 to 86&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">&nbsp;85 to 70 </FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Life expectation for an over 65 years old female</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">&nbsp;86 to 89 </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">&nbsp;83 to 89&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">&nbsp;88 to 71 </FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">(i) Includes assumptions in Latin America &#8211; North, Latin America &#8211; South and Canada.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Through its defined benefit pension plans and post-employment medical plans, the Company is exposed to a number of risks, the most significant are detailed below:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Asset volatility</FONT></B></H5>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The plans liabilities are calculated using a discount rate set with reference to high quality corporate yields; if plan assets underperform this yield, the Company&#8217;s net defined benefit obligation may increase. Most of the Company&#8217;s funded plans hold a significant proportion of equities, which are expected to outperform corporate bonds in the long-term while providing volatility and risk in the short-term. As the plans mature, the Company usually reduces the level of investment risk by investing more in assets that better match the liabilities. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Changes in bond yields</FONT></B></H5>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">A decrease in corporate bond yields will increase plan liabilities, although this will be partially offset by an increase in the value of the plans&#8217; bond holdings.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt">&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-69</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_232"></A>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Inflation risk</FONT></B></H5>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Some of the Company&#8217;s pension obligations are linked to inflation, and higher inflation will lead to higher liabilities. The majority of the plan&#8217;s assets are either unaffected by or loosely correlated with inflation, meaning that an increase in inflation could potentially increase the Company&#8217;s net benefit obligation.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Life expectancy</FONT></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The majority of the plans&#8217; obligations are to provide benefits for the life of the member, so increases in life expectancy will result in an increase in the plans&#8217; liabilities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<H5 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Investment strategy</FONT></B></H5>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">In case of funded plans, the Company ensures that the investment positions are managed within an asset-liability matching (ALM) framework that has been developed to achieve long-term investments that are in line with the obligations under the pension schemes. Within this framework, the Company&#8217;s ALM objective is to match assets to the pension obligations by investing in long-term fixed interest securities with maturities that match the benefit payments as they fall due and in the appropriate currency. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The sensitivity of the defined benefit obligation to changes in the weighted principal assumptions is:</FONT></P>

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   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">In millions of Brazilian Reais</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Change in assumption</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Increase in assumption</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Decrease in assumption</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Increase in assumption</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Decrease in assumption</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Increase in assumption</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Decrease in assumption</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Medical cost trend rate</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">100 bases points</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(119.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">102.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(104.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">90.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(77.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">67.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Discount rate</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">50 bases points</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">289.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(309.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">292.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(311.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">262.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(280.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Future salary increase</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">50 bases points</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(12.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">12.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(16.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(13.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">12.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Longevity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">One year</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(180.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">176.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(175.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">172.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(135.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">131.1</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The data presented in these tables are purely hypothetical and are based on changes in individual assumptions holding all other assumptions constant: economic conditions and changes therein always affect the other assumptions at the same time and its effects are not linear. Therefore, the above information is not necessarily a reasonable representation of future results.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-70</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_233"></A>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The plans assets at December 31, 2017, 2016 and 2015 consist of the following:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%" colSpan=3>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Rated</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Unrated</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Total</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Rated</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Unrated</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Total</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Rated</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Unrated</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Government bonds</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">50%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">50%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">41%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">41%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">29%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">29%</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Corporate bonds</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">7%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">7%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">13%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">13%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">23%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">23%</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Equity instruments</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">14%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">14%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">18%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">18%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">15%</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Property</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1%</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">29%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">29%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">27%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">27%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">32%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">32%</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The overall expected rate of return is calculated by weighting the individual rates in accordance with the anticipated share in the total investment portfolio. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Ambev expects to contribute approximately R$229.3 to its defined benefit plans in 2018.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">24.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">SHARE-BASED PAYMENTS</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">There are different share-based payment programs and stock option plans which allow the senior management from the Company and its subsidiaries to receive or acquire shares </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">of the Company</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">. For all option plans, the fair value is estimated at grant date, using the Hull binomial pricing model, modified to reflect the IFRS 2 requirement that assumptions about forfeiture before the end of the vesting period cannot impact the fair value of the option.</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">This current model of share based payment includes two types of grants: Grant 1: the beneficiary may choose to allocate 30%, 40%, 60%, 70% or 100% of the amount related to the profit share he received in the year, at the immediate exercise of options, thus acquiring the corresponding shares of the Company, and the delivery of a substantial part of the acquired shares is conditioned to the permanency in the Company for a period of five-years from the date of exercise; Grant 2: the beneficiary may exercise the options after a period of five years. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Additionally, as a means of creating a long term incentive (wealth incentive) for certain senior employees and members of management considered as having &#8220;high potential,&#8221; the Company grant stocks to future delivery to those employees, pursuant to which the beneficiary shall receive two separate lots &#8211; Lot A and Lot B &#8211; subject to maturation periods of five and ten years, respectively.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">In addition, the Company has implemented a Stock Based Payment Plan under which certain employees and members of the management of the Company or its direct or indirect subsidiaries are eligible to receive shares of the Company including in the form of ADR&#8217;s. The shares that are subject to the Stock Plan are designated as "Restricted Shares" and the restricted share price for the purposes of the stock plan will correspond to the price of the </FONT>

<a name="page_235"></a>
<FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Company's shares on B3 S.A.- Brasil, Bolsa, Balc&#227;o, in the trading session immediately prior to the stock concession Restricted.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-71</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_234"></A>




<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The weighted average fair value of the options and assumptions used in applying the </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Ambev </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">option pricing model for the &#8220;Grant 2&#8221; of 2017, 2016 and 2015 grants are as follows: </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">In R$, except when otherwise indicated</FONT></I></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">

   <P style="MARGIN: 0in 0in 0pt"><SUP><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(i)</FONT></B></SUP></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">

   <P style="MARGIN: 0in 0in 0pt"><SUP><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(i)</FONT></B></SUP></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;2015 </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(i)</FONT></SUP></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Fair value of options granted</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6.51</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6.21</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7.84</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="6%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share price</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">19.80</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">17.18</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">18.41</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exercise price</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">19.80</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">17.18</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">18.41</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="6%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Expected volatility</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">26.7%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">27.0%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">27.5%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Vesting year</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="6%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Expected dividends</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="5%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="6%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="39%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Risk-free interest rate </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10.1%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(ii)</FONT></SUP></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12.4%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="5%">

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(ii)</FONT></SUP></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15.9%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="6%">

   <P style="MARGIN: 0in 0in 0pt"><SUP><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(ii)</FONT></SUP></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">(i)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Information based on weighted average plans granted, except for the expected dividends and risk-free interest rate.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in"><FONT lang=EN-US style="FONT-SIZE: 8pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(ii</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">) The percentages include the grants of stock options and ADR&#8217;s during the period, in which the risk-free interest rate of ADR&#8217;s are calculated in U.S. dollar.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The total number of outstanding options developed as follows:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Thousand options</FONT></I></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Options outstanding at January 1<SUP>st</SUP></FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">131,244</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">121,770</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">126,149</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Options issued during the period</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">20,435</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">24,806</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16,568</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Options exercised during the period</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(13,548)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(11,613)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(19,975)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Options forfeited during the period</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,910)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3,719)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(972)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="62%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Options outstanding at ended year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">135,221</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">131,244</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">121,770</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The range of exercise prices of the outstanding options is between R$0.001 (R$</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">0.02</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> as of December 31, 2016 and R$0.35 as of December 31, 2015) and </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">R$26.09</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> (R$</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">28.32</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> as of December 31, 2015 and R$26.57 as of December 31, 2015) and the weighted average remaining contractual life is approximately</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> 6.40</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> years (</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">5.96</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> years as of December 31, 2016 and 6.30 years as of December 31, 2015).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Of the 135,221 thousand outstanding options (131,244 thousand as of December 31, 2016), 40,150 thousand options are vested as at December 31, 2017 (52,780 thousand as of December 31, 2016).</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-72</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_235"></A>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The weighted average exercise price of the options is as follows:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">In R$ per share</FONT></I></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Options outstanding at January 1<SUP> st</SUP></FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13.87</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12.36</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10.07</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Options issued during the period</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">19.82</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">17.18</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">18.42</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Options forfeited during the period</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">17.88</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12.83</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">20.35</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Options exercised during the period</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5.81</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.52</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5.05</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Options outstanding at ended period</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15.27</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13.87</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12.36</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Options exercisable at ended period</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.78</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.66</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.29</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">For the options exercised during 2017, the weighted average share price on the exercise date was R$18.87 (R$18.41&nbsp; as of December 31, 2016).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">To settle the exercised stock options, the Company may use treasury shares. The current limit of authorized capital is considered sufficient to meet all stock option plans if the issue of new shares is required to meet the grants awarded in the Programs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">During the period, Ambev issued 794 thousand (7,329 thousand in 2016) deferred stock units related to exercise of the options in the model &#8220;Grant 1&#8221;. These deferred stock units are valued at the share price of the day of grant, representing a fair value of approximately R$15.2 (R$133,9 in 2016), and cliff vest after five years.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The total number of shares purchased under the plan of shares by employees, whose grant is deferred to a future time under certain conditions (deferred stock), is shown below:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 0in 0pt"><I><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Thousand deferred shares</FONT></I></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2015</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Deferred shares outstanding at January 1<SUP>st</SUP></FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">19,260</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">19,056</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">17,490</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">New deferred shares during the period</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">794</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7,329</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,692</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Deferred shares granted during the period</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,874)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(6,118)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(804)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="46%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Deferred shares forfeited during the period</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(880)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,007)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(322)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="46%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Deferred shares outstanding at ended year</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16,300</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">19,260</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="3%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">19,056</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Additionally, certain employees and directors of the Company receive options to acquire AB Inbev shares, the compensation cost of which is recognized in the income statement against equity</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">These share-based payments generated an expense of R$236.9 in the year ended December 31, 2017 (R$189.3 and R$209.4 for the year ended December 31, 2016 and 2015, respectively), recorded as administrative expenses.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-73</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_236"></A>

<P style="MARGIN: 0in 0in 10pt 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">25.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">TRADE PAYABLES</FONT></B></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Trade payables </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">175.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">237.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Non-current</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">175.1</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">237.8</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Trade payables </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10,418.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">9,793.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Related Parties</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,435.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,075.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Current</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">11,854.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10,868.8</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="60%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="20%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">12,029.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="20%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11,106.6</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">26.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">PROVISIONS</FONT></B></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(a) Provision changes </FONT></B></P>

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<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Balance as of</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Effect of changes in</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;foreign exchange rates</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Additions</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Provisions used</FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">and reversed</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Balance as of </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">December 31, 2017</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Restructuring</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">8.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Provision for disputes and litigations</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Taxes on sales</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">247.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">113.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(135.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">226.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Income tax</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">323.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">167.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(336.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">157.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Labor</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">165.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">142.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(176.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">129.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Civil</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">43.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(0.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">65.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(74.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">35.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Others</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">146.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">69.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(84.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">125.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total of provision for disputes and litigations</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">926.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(4.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">558.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(807.4)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">673.5</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total provisions</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">934.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">558.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(807.4)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">681.6</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 0.25in; TEXT-INDENT: -0.25in"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">(b)</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">Disbursement expectative</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Balance as of </FONT></B></P>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1 year or less</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1-2 years</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2-5 years</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Over 5 years</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Restructuring</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">8.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Provision for disputes and litigations</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Taxes on sales</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">226.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">25.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">179.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Income tax</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">157.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">33.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">100.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">22.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Labor</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">129.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">77.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">25.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">17.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">9.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Civil</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">35.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">17.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Others</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">125.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">8.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">30.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">83.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total of provision for disputes and litigations</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">673.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">161.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">351.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">130.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">29.5</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="35%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="35%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total provisions</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">681.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">169.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">351.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">131.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">29.5</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-74</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_237"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The expected settlement of provisions was based on management&#8217;s best estimate at the balance sheet date.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Main lawsuits with probable likelihood of loss:</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(a) Income and Sales taxes</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">In Brazil, the Company and its subsidiaries are involved in several administrative and judicial proceedings related to Income tax, ICMS, IPI, PIS and COFINS taxes. Such proceedings include, among others, tax offsets, credits and judicial injunctions exempting tax payment.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(b) Labor</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The Company and its subsidiaries are involved in labor proceedings with former employees or former employees of service providers. The main issues involve overtime and related effects and respective charges.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(c) Civil</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The Company is involved in civil lawsuits considered with probable likelihood of loss. The most relevant portion of these lawsuits refers to former distributors, mainly in Brazil, which are mostly claiming damages resulting from the termination of their contracts.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The processes with possible probabilities are disclosed in Note 30 </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">- </FONT></I><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Contingent liability</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">27.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">FINANCIAL INSTRUMENTS AND RISKS</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Risk factors</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The Company is exposed to foreign currency, interest rate, commodity price, liquidity and credit risk in the ordinary course of business. The Company analyzes each of these risks both individually and as a whole to define strategies to manage the economic impact on Company&#8217;s performance consistent with its Financial Risk Management Policy.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company&#8217;s use of derivatives strictly follows its Financial Risk Management Policy approved by the Board of Directors. The purpose of the policy is to provide guidelines for the management of financial risks inherent to the capital markets in which Ambev carries out its operations. The policy comprises four main aspects: (i) capital structure, financing and liquidity, (ii) transactional risks related to the business, (iii) financial statements translation risks and (iv) credit risks of financial counterparties.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-75</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_238"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The policy establishes that all the financial assets and liabilities in each country where Ambev operates must be denominated in their respective local currencies. The policy also sets forth the procedures and controls needed for identifying, measuring and minimizing market risks, such as variations in foreign exchange rates, interest rates and commodities (mainly aluminum, wheat, corn and sugar) that may affect Ambev&#8217;s revenues, costs and/or investment amounts. The policy states that all the known risks (e.g. foreign currency and interest) shall be hedged by contracting derivative financial instruments. Existing risks not yet recorded (e.g. future contracts for the purchase of raw material or property, plant and equipment) shall be mitigated using projections for the period necessary for the Company to adapt to the new costs scenario that may vary from ten to fourteen months, also through the use of derivative financial instruments. Most of the translation risks are not hedged. Any exception to the policy must be approved by the Board of Directors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivative financial Instruments</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Derivative financial instruments authorized by the Financial Risk Management Policy are futures contracts traded on exchanges, full deliverable forwards, non-deliverable forwards, swaps and options. At December 31, 2017, the Company and its subsidiaries had no target forward, swaps with currency verification or any other derivative operations representing a risk level above the nominal value of their contracts. The derivative operations are classified by strategies according to their purposes, as follows:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">i) Cash flow hedge derivative instruments &#8211; The highly probable forecast transactions contracted in order to minimize the Company's exposure to fluctuations of exchange rates and prices of raw materials, investments, equipment and services to be procured, protected by cash flow hedges that shall occur at various different dates during the next fourteen months. Gains and losses classified as hedging reserve in equity are recognized in the income statement in the period or periods when the forecast and hedged transaction affects the income statement. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">ii) Fair value hedge derivative instruments &#8211; operations contracted with the purpose of mitigating the Company&#8217;s net indebtedness against foreign exchange and interest rate risk. Cash net positions and foreign currency debts are continually assessed for identification of new exposures. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The results of these operations, measured according to their fair value, are recognized in financial results. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">iii) Net investment hedge derivative instruments &#8211; transactions entered into in order to minimize exposure of the exchange differences arising from conversion of net investment in the Company's subsidiaries located abroad for translation account balance. The effective </FONT>

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<FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">portion of the hedge is allocated to equity and the ineffectiveness portion is recorded directly in financial results.</FONT></P>

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<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-76</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_239"></A>




<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; VERTICAL-ALIGN: top; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The following tables summarize the exposure of the Company that were identified and protected in accordance with the Company's Risk Policy. The following denominations have been applied:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; VERTICAL-ALIGN: top; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; VERTICAL-ALIGN: top; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Operational Hedge: Refers to the exposures arising from the core business of Ambev, such as: purchase of inputs, purchase of fixed assets and service contracts linked to foreign currency, which is protected through the use of derivatives.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; VERTICAL-ALIGN: top; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; VERTICAL-ALIGN: top; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman">Financial Hedge: Refers to the exposures arising from cash and financing activities, such as: foreign currency cash and foreign currency debt, which is protected through the use of derivatives.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; VERTICAL-ALIGN: top; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; VERTICAL-ALIGN: top; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman">Investment hedge in foreign operations: Refers mainly to exposures arising from cash hold in foreign currency in foreign subsidiaries whose functional currency is different from the consolidation currency. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Investment hedge - </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Put option</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"> granted on</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"> subsidiary</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">: As detailed in Note 21 (d.4) the Company constituted a liability related to acquisition of Non-controlling interest in the Dominican Republic operations. This financial instrument is denominated in Dominican Pesos and is recorded in a Company which functional currency is the Real. The Company assigned this financial instrument as a hedging instrument for part of its net assets located in the Dominican Republic, in such manner the hedge result can be recorded in other comprehensive income of the group, following the result of the hedged item.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-77</FONT></P>

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<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_240"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Transactions protected by derivative financial instruments in accordance with the Financial Risk Management Policy</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

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<TR style="HEIGHT: 10.2pt">

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cost</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(9,742.3)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">9,318.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">283.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(190.0)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(563.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(200.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">584.8</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Commodity&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,378.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">1,955.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">166.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(70.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">103.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(4.8)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;American Dollar </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(6,879.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">6,879.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">86.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(93.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(556.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(331.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">630.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Euro&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(82.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">82.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(0.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(4.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Mexican Pesos&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(401.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">401.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">27.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(25.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">27.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(47.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Fixed Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(579.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">579.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(10.8)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;American Dollar&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(531.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">531.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(10.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Euro&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(47.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">47.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Expenses</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(177.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">177.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1.8)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.8</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;American Dollar&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(169.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">169.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.4</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Rupee </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(8.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">8.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(0.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(0.6)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,328.3)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,328.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(13.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(266.0)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;American Dollar&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,313.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,313.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(13.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(266.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Interest rate&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(15.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Debts</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(919.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">356.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">30.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1.8)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(67.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;American Dollar&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(562.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(76.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Interest rate&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(356.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">356.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">30.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">8.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Equity Instrument</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,347.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">677.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">69.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">67.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Stock Exchange Prices </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,347.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">677.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">69.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">67.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">As of December 31, 2017</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(15,095.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12,438.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">385.2</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(217.5)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(834.8)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(196.3)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">586.6</FONT></B></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-78</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_241"></A>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;2016 </FONT></B></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="20%" colSpan=2 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Fair Value </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="30%" colSpan=3 noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Gain / (Losses) </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exposure</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Risk</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp;Notional </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp;Assets </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp;Liability </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp;Finance</FONT></B></P>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Result </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp;Operational</FONT></B></P>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Result </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp;Equity </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cost</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(8,807.6)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">8,624.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">190.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(582.8)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,397.5)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">737.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(873.3)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Commodity&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,742.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,559.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">136.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(43.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5.4)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(97.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">90.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;American Dollar&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(6,566.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6,566.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">36.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(491.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,392.6)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">782.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(909.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Euro&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(135.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">135.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(4.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">56.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(42.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Mexican Pesos&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(359.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">359.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">18.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(43.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(4.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(13.2)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Brazilian Real&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.4</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Fixed Assets</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(523.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">523.1</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(76.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(187.0)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;American Dollar&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(430.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">430.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(119.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Euro &nbsp;</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(92.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">92.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(70.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(68.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Expenses</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(103.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">103.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">47.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(134.2)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;American Dollar&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(90.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">90.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(29.4)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Euro&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(0.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Canadian&nbsp; Dollar&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">50.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(106.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Rupee </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(12.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,043.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,043.8)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7.8</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;American Dollar&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">592.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(592.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(55.8)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Euro&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">51.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(51.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">11.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Interest rate&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">400.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(400.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(0.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">40.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Debts</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(2,547.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,000.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">18.4</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(61.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(50.7)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;American Dollar&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,874.2)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,326.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(48.5)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(28.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Interest rate&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(673.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">673.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(12.7)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(22.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

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   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

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   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Foreign Investments</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1.2)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">35.4</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

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   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;American Dollar&nbsp; </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(0.9)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">37.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Euro&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Canadian Dollar </FONT></P></TD>

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   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(0.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.5)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%" noWrap>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">As of December 31, 2016</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="2%" noWrap>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(10,938.5)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10,207.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">212.9</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(713.4)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="1%" noWrap>&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,592.5)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">743.2</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%" noWrap>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(972.1)</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt" face=Arial,sans-serif></FONT>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-79</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



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&nbsp; <A name="page_242"></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">I.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Market risk</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></I></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">a.1) Foreign currency risk</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company is exposed to foreign currency risk on borrowings, investments, purchases, dividends and/or interest expense/income whenever they are denominated in a currency other than the functional currency of the subsidiary. The main derivatives financial instruments used to manage foreign currency risk are futures contracts, swaps, options, non deliverable forwards and full deliverable forwards.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">a.2) Commodity Risk</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">A significant portion of the Company inputs comprises commodities, which historically have experienced substantial price fluctuations. The Company therefore uses both fixed price purchasing contracts and derivative financial instruments to minimize its exposure to commodity price volatility. The Company has important exposures to the following commodities: aluminum, sugar, wheat and corn. These derivative financial instruments have been designated as cash flow hedges.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">a.3) Interest rate risk</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company applies a dynamic interest rate hedging approach whereby the target mix between fixed and floating rate debt is reviewed periodically. The purpose of the Company&#8217;s policy is to achieve an optimal balance between cost of funding and volatility of financial results, taking into account market conditions as well as the Company&#8217;s overall business strategy and this strategy is reviewed periodically.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The table below demonstrates the Company&#8217;s exposure related to debts, before and after interest rates hedging strategy.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

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<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Pre - Hedge</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Post - Hedge</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest rate</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Amount </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest rate</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Amount </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Brazilian Real</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">9.2%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">402.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7.6%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">714.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">American Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.7%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">555.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.7%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">555.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Canadian&nbsp; Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.0%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">685.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.0%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">685.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Barbadian Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.3%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.3%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest rate postfixed</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,648.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,960.2</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Brazilian Real</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6.4%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">682.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5.9%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">370.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Working Capital in Argentinean Peso </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">31.0%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">31.0%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Dominican Peso</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">9.3%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">188.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">9.3%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">188.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">American Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.8%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">22.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.8%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">22.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Guatemala&#180;s Quetzal</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7.8%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7.8%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest rate pre-set</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">906.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">594.6</FONT></B></P></TD></TR></TABLE></DIV>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-80</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_243"></A>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%" colSpan=5>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Pre - Hedge</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: #000000 1px solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="25%" colSpan=2>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Post - Hedge</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="49%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest rate</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Amount </FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest rate</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Amount </FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Brazilian Real</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10.0%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">667.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12.6%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,375.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">American Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.5%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,882.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.2%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">565.7</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Canadian&nbsp; Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.6%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,259.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.6%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,259.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Barbadian Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.7%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.7%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest rate postfixed</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,814.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,205.3</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Brazilian Real</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6.8%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,223.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6.2%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">841.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Dominican Peso</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">9.7%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">288.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">9.7%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">288.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">American Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6.0%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">11.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6.0%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Guatemala&#180;s Quetzal</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">8.0%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">9.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">8.0%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Barbadian Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4.3%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">48.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4.3%</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">48.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="49%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Interest rate pre-set</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,582.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="15%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,191.0</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Sensitivity analysis</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company mitigates risks arising from non-derivative financial assets and liabilities substantially, through derivative financial instruments. In this context, the Company has identified the main risk factors that may generate losses from these derivative financial instruments and has developed a sensitivity analysis based on three scenarios, which may impact the Company&#8217;s future results and/or cash flow, as described below:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1 &#8211; Probable scenario: Management expectations of deterioration in each transaction&#8217;s main risk factor. To measure the possible effects on the results of derivative transactions, the Company uses parametric Value at Risk &#8211; VaR. is a statistical measure developed through estimates of standard deviation and correlation between the returns of several risk factors. This model results in the loss limit expected for an asset over a certain time period and confidence interval. Under this methodology, we used the potential exposure of each financial instrument, a range of 95% and horizon of 21 days after December 31, 2017 for the calculation, which are presented in the module.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">2 &#8211; Adverse scenario: 25% deterioration in each transaction&#8217;s main risk factor as compared to the level observed on December 31, 2017. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">3 &#8211; Remote scenario: 50% deterioration in each transaction&#8217;s main risk factor as compared to the level observed on December 31, 2017.</FONT></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-81</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_244"></A>

<DIV align=left>

<DIV align=left>

<DIV align=left>

<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse; MARGIN-LEFT: 2.75pt" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="21%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Transaction </FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="24%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Risk</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Fair value</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Probable scenario</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Adverse scenario</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Remote</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">&nbsp;scenario</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Commodities hedge</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Decrease on commodities price</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">95.8</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-70.6</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-392.9</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-881.7</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Input purchase</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-95.8</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">108.7</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">498.8</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">1093.5</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Foreign exchange hedge</FONT></P></TD>

   <TD style="BACKGROUND: white; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Foreign currency decrease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-2.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-105</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-1,843.10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-3,684.00</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Input purchase</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">2.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">105</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">1,843.10</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">3,684.00</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Costs effects</FONT></B></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">38.1</FONT></B></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">105.9</FONT></B></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">211.8</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Foreign exchange hedge</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Foreign currency decrease</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-8.9</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-16.8</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-153.8</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-298.6</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Capex Purchase</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">8.9</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">16.8</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">153.8</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">298.6</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Fixed assets effects</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman"></FONT></B>&nbsp;</P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Foreign exchange hedge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Foreign currency decrease</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-1.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-3.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-45.7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-90.2</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">1.3</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">3.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">45.7</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">90.2</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Expenses effects</FONT></B></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Hedge cambial</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Foreign currency increase</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-13.1</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-37.5</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-341.4</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-669.8</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Cash</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">13.1</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">37.5</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">341.4</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">669.8</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Interest Hedge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Decrease in interest rate </FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-0.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-2.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-3.4</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Interest revenue</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">0.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">2.9</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">3.4</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Cash effects</FONT></B></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Hedge cambial</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Foreign currency decrease</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Cash</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">9.7</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">140.6</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">281.3</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Interest Hedge</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Increase in interest rate</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">28.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">18.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-131.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-162.7</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Interest expenses</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-28.2</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-18.4</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">131.5</FONT></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">162.7</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Debt effects</FONT></B></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" color=black face=Calibri,sans-serif></FONT>&nbsp;</P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">9.7</FONT></B></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">140.6</FONT></B></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">281.3</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="24%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Equity Instrument Hedge</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" rowSpan=2 width="24%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Stock Exchange Price Decrease</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">69.2</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">54.3</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-100.1</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-269.3</FONT></P></TD></TR>

<TR>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Expenses</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-69.2</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-19.4</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">517.8</FONT></P></TD>

   <TD style="BACKGROUND: #ccecff; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">1104.8</FONT></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="21%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">Equity effects</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">34.9</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">417.7</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">835.5</FONT></B></P></TD></TR>

<TR>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="21%">&nbsp;</TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="24%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="17%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">82.7</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="16%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">664.2</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LINE-HEIGHT: normal" color=black face="times new roman">1,328.60</FONT></B></P></TD></TR></TABLE></DIV>

<P></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P></P></DIV>

<P></P>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P></P></DIV>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-82</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_245"></A>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">As of December 31, 2017 the Notional and Fair Value amounts per instrument and maturity were as follows:</FONT></P>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="67%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Notional Value</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exposure</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Risk</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2018</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2019</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2020</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2021</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2021</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cost</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">9,219.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">99.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">9,318.9</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp; Commodity&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,859.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">96.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,955.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp; American Dollar&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6,879.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6,879.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp; Euro&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">82.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">82.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&nbsp; Mexican Peso&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">398.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">401.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Fixed asset</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">579.5</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">579.5</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp; American Dollar&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">531.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">531.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp; Euro&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">47.6</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">47.6</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Expenses</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">177.7</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">177.7</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp; American Dollar&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">169.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">169.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Rupee </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">8.5</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">8.5</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,313.3</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,328.3</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp; American Dollar&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,313.3</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,313.3</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;&nbsp; Interest rate&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Debt</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">110.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">246.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">356.9</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp; Interest rate </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">110.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">246.9</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">356.9</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Foreign Investments</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">677.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">677.0</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp; American Dollar&nbsp; </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">677.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">677.0</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">11,966.7</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">99.7</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15.0</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">110.0</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">246.9</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">12,438.3</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<HR align=center SIZE=2 width="100%" noShade>

</FONT>

<P></P>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-83</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>

&nbsp; <A name="page_246"></A>

<DIV align=left>

<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>



<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="67%" colSpan=6>

   <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Fair Value</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Exposure</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Risk</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2018</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2019</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2020</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2021</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">&gt; 2021</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Total</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="11%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cost</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">89.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">93.6</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Commodity</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">91.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4.7</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">95.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">American Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(7.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(7.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Euro</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2.8</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2.8</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Mexican Peso</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(0.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">2.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Fixed asset</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(8.9)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(8.9)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">American Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(9.0)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(9.0)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Euro</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.1</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">0.1</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Expenses</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1.3)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1.3)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">American Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1.3)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(1.3)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Rupee</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(13.1)</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(13.1)</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">American Dollar</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(13.1)</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">(13.1)</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Interest rate </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.35pt">

   <TD style="HEIGHT: 10.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Debt</FONT></B></P></TD>

   <TD style="HEIGHT: 10.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">25.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">3.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">28.2</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">Interest rate </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">25.0</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">3.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">28.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>&nbsp;</TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Equity Instrument</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">69.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">69.2</FONT></B></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Stock prices </FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">69.2</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></P></TD>

   <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">69.2</FONT></P></TD></TR>

<TR style="HEIGHT: 10.2pt">

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">&nbsp;</TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">134.9</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">4.6</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">-</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">25.0</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">3.2</FONT></B></P></TD>

   <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="11%" align=right>

   <P style="MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=#000000 face="times new roman">167.7</FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">II.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Credit Risk</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></I>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Concentration of credit risk on trade receivables</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">A substantial part of the Company&#8217;s sales is made to distributors, supermarkets and retailers, within a broad distribution network. Credit risk is reduced because of the widespread number of customers and control procedures used to monitor risk. Historically, the Company has not experienced significant losses on receivables from customers.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Concentration of credit risk on counterpart</FONT></I></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">In order to minimize the credit risk of its investments, the Company has adopted procedures for the allocation of cash and investments, taking into consideration limits and credit analysis of financial institutions, avoiding credit concentration, i.e., the credit risk is monitored and minimized to the extent that negotiations are carried out only with a select group of highly rated counterparties.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The selection process of financial institutions authorized to operate as the Company&#8217;s counterparty is set forth in our Credit Risk Policy. This Credit Risk Policy establishes maximum limits of exposure to each counterparty based on the risk rating and on each counterparty's capitalization.</FONT></P>

<DIV></DIV>

<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-84</FONT></P>

<HR align=center SIZE=2 width="100%" noShade>



<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>
&nbsp; <A name=page_247></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">In order to minimize the risk of credit
with its counterparties on significant derivative transactions, the Company has
adopted bilateral &#8220;trigger&#8221; clauses. According to these clauses, where the fair
value of an operation exceeds a percentage of its notional value (generally
between 10% and 15%), the debtor settles the difference in favor of the
creditor.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; VERTICAL-ALIGN: top; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">As of December 31, 2017, the Company
held its main short-term investments with the following financial institutions:
Banco do Brasil, Bradesco, Bank Mendes Gans, Caixa Econ&#244;mica Federal, Citibank,
Ita&#250;, JP Morgan Chase, Merrill Lynch, Santander e Toronto Dominion Bank. The
Company had derivative agreements with the following financial institutions:
Banco Bisa, Barclays, BNB, BNP Paribas, Bradesco, Bank Mendes Gans, Citibank,
Deutsche Bank, Ita&#250;, Goldman Sachs, JP Morgan Chase, Macquarie, Merrill Lynch,
Morgan Stanley, Santander, ScotiaBank e TD Securities.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; VERTICAL-ALIGN: top; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The carrying amount of cash and cash
equivalents, investment securities, trade receivables excluding prepaid
expenses, recoverable taxes and derivative financial instruments are disclosed
net of provisions for impairment and represents the maximum exposure of credit
risk as of December 31, 2017. There was no concentration of credit risk with any
counterparties as of December 31, 2017.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">III.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Liquidity Risk</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The Company believes that cash flows
from operating activities, cash and cash equivalents and short-term investments,
together with the derivative financial instruments and access to loan facilities
are sufficient to finance capital expenditures, financial liabilities and
dividend payments in the future.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">IV.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Equity price risk</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Through the equity swap transaction
approved on May 16th, 2017 and altered in December 21th, 2017 by the Board of
Directors of Ambev (see Note 1 - </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Corporate information</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">) , the Company, or its subsidiaries,
will receive the price variation related to its shares traded on the stock
exchange or ADRs, neutralizing the possible effects of the stock prices&#8217;
oscillation in view of the share-based payment of the Company. As these
derivative instruments are not characterized as hedge accounting they were not
therefore designated to any hedge.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">In December 2017, an exposure equivalent
to R$2.3 billion in AmBev&#8217;s shares (or ADR&#8217;s) was partially hedged, resulting in
a gain in income statement of R$ 67.0.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-85</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_248></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">V.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Capital management</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Ambev is continuously optimizing its
capital structure targeting to maximize shareholder value while keeping the
desired financial flexibility to execute the strategic projects. Besides the
statutory minimum equity funding requirements that apply to the Company&#8217;s
subsidiaries in the different countries, Ambev is not subject to any externally
imposed capital requirements. When analyzing its capital structure, the Company
uses the same debt ratings and capital classifications as applied in the
Company&#8217;s financial statements.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Financial instruments</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(a) Financial instruments
categories</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 0.5in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Management of the financial instruments
held by the Company is effected through operational strategies and internal
controls to assure liquidity, profitability and transaction security. Financial
instruments transactions are regularly reviewed for the effectiveness of the
risk exposure that management intends to cover (foreign exchange, interest rate,
etc.). </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">The table below shows all financial
instruments recognized in the financial statements, segregated by
category:</FONT></P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="60%" colSpan=6>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Loans and</FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">receivables</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Held for </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">trading</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">assets/liabilities at
      </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">fair value through </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">profit or loss</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivatives </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">hedge</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial</FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;liabilities</FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;through </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">amortized cost</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Total </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial assets</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cash and cash
      equivalents</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10,354.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">10,354.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Investment
securities</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">122.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">11.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">133.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Trade&nbsp; receivables excluding
      prepaid expenses </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7,505.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7,505.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial instruments
      derivatives</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">100.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">285.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">385.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">17,859.5</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">122.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">112.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">285.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">18,378.6</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial
      liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Trade payables and put option
      granted on subsidiary and other liabilities</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5,764.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13,502.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">19,266.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial instruments
      derivatives</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">201.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">217.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Interest-bearning loans and
      borrowings</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,553.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,553.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5,780.2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">201.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16,055.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">22,036.6</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-86</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_249></A>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="40%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="60%" colSpan=6>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;2016</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Loans and </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">receivables</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Held for</FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;trading</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">assets/liabilities at
      </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">fair value through </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt; TEXT-INDENT: 20px" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">profit or loss</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivatives </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">hedge</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">liabilities </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">through </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">amortized cost</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Total </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial assets</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cash and cash
      equivalents</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7,876.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7,876.8</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Investment
securities</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">104.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">282.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">387.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Trade receivables excluding
      prepaid expenses</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6,962.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6,962.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial instruments
      derivatives</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">18.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">194.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">212.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">14,839.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">104.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">301.2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">194.5</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15,439.3</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="40%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial
      liabilities</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=top width="10%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Trade payables and put option
      granted on subsidiary and other liabilities</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5,106.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13,208.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=top width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">18,314.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial instruments
      derivatives</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">49.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">663.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">713.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Interest-bearning loans and
      borrowings</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5,396.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5,396.3</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="40%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5,156.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">663.5</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">18,604.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="10%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">24,423.9</FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(b) Classification of financial
instruments by type of fair value measurement</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">IFRS 13 defines fair value as the price
that would be received to sell an asset or paid to transfer a liability in an
orderly transaction between market participants at the measurement
date.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Also pursuant to IFRS 13, financial
instruments measured at fair value shall be classified within the following
categories</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; BACKGROUND: white; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; BACKGROUND: white; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Level 1 &#8211; quoted prices (unadjusted) in
active markets for identical assets or liabilities that the entity can access at
the measurement date valuation;</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; BACKGROUND: white; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Level 2 &#8211; inputs other than quoted
prices included within Level 1 that are observable for the asset or liability,
either directly or indirectly; and</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; BACKGROUND: white; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Level 3 &#8211; unobservable inputs for the
asset or liability.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-87</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_250></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" colSpan=4>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="BORDER-TOP: windowtext 1pt solid; HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="36%" colSpan=4>
      <P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Level 1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Level 2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Level 3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;Total </FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Level 1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Level 2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Level 3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">
      <P style="MARGIN: 0in 0in 0pt"><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial
    assets</FONT></U></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial asset at fair value
      through profit or loss</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">11.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">282.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">282.8</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivatives assets at fair value
      through profit or loss</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">0.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">100.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">100.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">15.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">18.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivatives - operational
      hedge</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">4.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">280.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">285.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">83.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">110.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">194.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">16.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">380.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">397.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">369.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">126.7</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">495.7</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">
      <P style="MARGIN: 0in 0in 0pt"><B><U><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial
      liabilities</FONT></U></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial liabilities at fair
      value through profit and loss<SUP> (i)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,764.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,764.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,106.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,106.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivatives liabilities at fair
      value through profit or loss</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">1.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">14.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">16.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">9.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">40.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">49.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivatives - operational
      hedge</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">58.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">143.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">201.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">78.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">575.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">654.8</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="27%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Derivatives - fair value
      hedge</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">8.7</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="27%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">60.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">157.4</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,764.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,981.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="1%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">88.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">624.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,106.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="9%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,819.5</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(i) Refers to the put option granted on
subsidiary as described in Note 21 d(4).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Reconciliation of changes in the
categorization of Level 3</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 14.25pt">
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="78%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Financial liabilities at December 31,
      2016 <SUP>(i)</SUP></FONT></B></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,106.1</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisition of
investments</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">7.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="78%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total gains and losses in the
      year</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">650.6</FONT></P></TD></TR>
  <TR style="HEIGHT: 12pt">
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Losses recognized in net
      income</FONT></P></TD>
    <TD style="HEIGHT: 12pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">359.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 12.75pt">
    <TD style="HEIGHT: 12.75pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="78%">
      <P style="MARGIN: 0in 0in 0pt; TEXT-INDENT: 9pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Losses recognized in
    equity</FONT></P></TD>
    <TD style="HEIGHT: 12.75pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">291.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 14.25pt">
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="78%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Financial liabilities at December 31,
      2017 <SUP>(i)</SUP></FONT></B></P></TD>
    <TD style="HEIGHT: 14.25pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="22%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">5,764.1</FONT></B></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 5pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(i) The liability was recorded under
&#8220;Trade payables and put option granted on subsidiary and other liabilities&#8221; on
the balance sheet.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(c) Fair value of financial liabilities
measured at amortized cost</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The Company&#8217;s liabilities,
interest-bearing loans and borrowings, trade payables excluding tax payables,
are recorded at amortized cost according to the effective rate method, plus
indexation and foreign exchange gains/losses, based on closing indices for each
exercise.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The financial instruments recorded at
amortized cost are similar to the fair value and are not material for
disclosure.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Calculation of fair value of
derivatives</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The Company measures derivative
financial instruments by calculating their present value, through the use of
market curves that impact the instrument on the computation dates. In the case
of swaps, both the asset and the liability positions are estimated independently
and brought to present value, where the difference between the result of the
asset and liability </FONT><a name="page_252"></a><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">amount generates the swaps market value.
For the traded derivative financial instruments, the fair value is calculated
according to the adjusted exchange-listed price.</FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-88</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_251></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Margins given in
guarantee</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">In order to comply with the guarantee
requirements of the derivative exchanges and/or counterparties in certain
operations with derivative financial instruments, as of December 31, 2017 the
Company held R$608.3 in highly liquid financial investments or in cash,
classified as cash and cash equivalents and investment securities (R$486.8 on
December 31, 2016).</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Offsetting of financial assets and
liabilities</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">For financial assets and liabilities
subject to settlement agreements by the net or similar agreements, each
agreement between the Company and the counterparty allows this type of
settlement when both parties make this option. In the absence of such election,
the assets and liabilities will be settled by their amounts, but each party
shall have the option to settle on net, in case of default by the
counterparty.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">28.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">OPERATING LEASES</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.85pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company primarily leases warehouses
and offices.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.85pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.85pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The future contractual values mature as
follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.85pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">2016</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Less than 1 year</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">35.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">26.7</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Between 1 and 5 years </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">129.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">61.4</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">More than 5 years</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">71.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">66.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">236.2</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">154.6</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0.85pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">In 2017, the operating lease expense in
the income statement amounted to R$39.0 (R$43.4 and R$58.7 in 2016 and 2015,
respectively).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">29.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">COLLATERAL AND CONTRACTUAL COMMITMENTS WITH SUPLLIERS,
ADVANCES FROM CUSTOMERS AND OTHER</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Collateral given for own
      liabilities</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">606.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,051.5</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Other commitments</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">842.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">754.3</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="64%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,449.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,805.8</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Commitments with suppliers
      <SUP>(i)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">11,096.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,019.2</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Commitments - Bond 2017</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">300.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="64%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">11,096.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,319.2</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 5pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(i)</FONT><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"> </FONT></B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=black face="times new roman">Variation refers, mainly, a new contracts with a new
suppliers of aluminum in 2017.&nbsp; </FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-89</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_252></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The collateral provided for liabilities
totaled approximately R$1,449.0 as at December 31, 2017 (R$1,805.8 as at
December 31, 2016), including R$551.0 (R$571.3 &nbsp;as at December 31, 2016) of
cash guarantees. The deposits in cash used as guarantees are presented as part
of other assets. To meet the guarantees required by derivative exchanges and/or
counterparties contracted in certain derivative financial instrument
transactions, Ambev maintained as at December 31, 2017, R$606.3 (R$486.8 as at
December 31, 2016) in highly liquid financial investments or in cash, classified
as cash and cash equivalents and investment securities (Note 27 &#8211;
</FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Financial instruments and
risks</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Most of the balance relates to
commitments with suppliers of packaging.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; BACKGROUND: white; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Future contractual commitments as at
December 31, 2017 and 2016 are as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Less than 1 year</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,812.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,325.7</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Between 1 and 2 years</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2,995.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">420.8</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">More than 2 years</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,287.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">572.7</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">11,096.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,319.2</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">30.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">CONTINGENT LIABILITY</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">The Company has
contingent liabilities arising from lawsuits in the normal course of its
business. </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; BACKGROUND: white" color=#0d0e00 face="Times New Roman">Due to their nature, such legal proceedings
involve inherent uncertainties including, but not limited to, court and
tribunals rulings, negotiations between affected parties and governmental
actions, and as a consequence the Company&#8217;s management cannot at this stage
estimate the likely timing of the resolution of these matters. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">Contingent
liabilities with a probable likelihood of loss are fully recorded as liabilities
(Note 26 &#8211; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">Provisions</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman">).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" color=windowtext face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company also has lawsuits related to
tax, civil and labor, for which the likelihood of loss classified by management
as possible and for which there are no provisions. Estimates of amounts of
possible losses are as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">IRPJ and CSLL</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">31,757.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">28,934.8</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">PIS and COFINS</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">3,485.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,971.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">ICMS and IPI</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">19,805.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16,046.9</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Labor</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">287.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">222.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Civil</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,071.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">4,417.6</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="64%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,113.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">858.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="64%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">60,520.0</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="18%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">52,450.5</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-90</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_253></A>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Principal lawsuits with
</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">a likelihood of </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">possible loss:</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Brazilian Federal Taxes</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Special goodwill reserve</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">In December 2011, the Company received a
tax assessment related to the goodwill amortization resulting from Inbev Holding
Brasil S.A. In November 2014 the Lower Administrative Court concluded the
judgment. The decision was partly favorable, Ambev presented a motion to clarify
the decision to the Administrative Court. In September 2016, this motion was
partially admitted and Ambev was formally notified of said decision in January
2018. As the decision of the Administrative Council of Tax Appeals (&#8220;CARF&#8221;)
remained partially favorable, Ambev will file a judicial proceeding to discuss
the unfavorable part of the decision and received a favorable decision in the
injuctionand the remaining portion will still be submitted for reconsideration
by the Administrative Upper Court.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">In June 2016, Ambev received tax
assessment charging the remaining value of the goodwill amortization, related to
InBev B Holding Brasil S.A&#8217;s merger with Ambev, from 2011 to 2013. In March
2017, Ambev was notified of the partially favorable first level administrative
decision on this tax assessment and filed an appeal to Lower Administrative
Court.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Ambev management estimates possible
losses in relation to the total amortization period (2005-2013) to be
approximately R$8.3 billion (R$7.8 billion as of 31 December 2016), classified
as possible loss, and, therefore, no provision was made by the Company in this
matter. In the event Ambev is required to pay these amounts, AB Inbev will
reimburse Ambev the amount proportional (70%) to the benefit received by the
company pursuant to the merger protocol, as well as the related costs.&nbsp;
</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></I>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Goodwill BAH</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">In October 2013, we also received a tax
assessment related to the goodwill amortization resulting from the merger of
Beverage Associates Holding Limited (&#8220;BAH&#8221;) into Ambev. In December 2014, Ambev
filed an appeal against the unfavorable first level administrative decision
published in November 2014. In March 2017, Lower Administrative Court concluded
the judgment to send the case back to the first level administrative judgment
due to processual matters. In July 2017, Ambev was notified of the revised first
level decision and filed a new Voluntary Appeal. The possible risk amount is
approximately R$ 1.6 billion (R$ 1.5 billion as of December 31, 2016). There was
no provision made on the matter.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></I>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></I>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-91</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_254></A>
<P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Goodwill CND Holdings</FONT></I></P>
<P style="MARGIN: 0in 0in 0pt">&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">In November 2017, Ambev received a tax
assessment related to the amortized goodwill related to the merger of CND
Holdings into Ambev. Ambev filed a defense at the legal term and awaits judgment
by the Federal Revenue Service (&#8220;DRJ&#8221;). The possible risk amount is
approximately R$ 1.1 billion. There was no provision made on the
matter.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></I>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Profits earned abroad</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">During the first quarter of 2005, certain of our
subsidiaries received a number of assessments from the RFB relating to profits
obtained by subsidiaries domiciled abroad.&nbsp; In December 2008, the
Administrative Court handed down a decision on one of the tax assessments
relating to earnings of our foreign subsidiaries.&nbsp; This decision was
partially favorable to us, and in connection with the remaining part, we filed
an appeal to the Appellate Division of the Administrative Court which was
finally dismissed in March 2017. In September 2017, Ambev filed a court order to
discuss the matter with an injunction granted in favor of the
Company.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">In December 2013, 2016 and October 2017, the Company
received tax assessments related to the matter. We have not recorded any
provision in connection with those assessments. We estimate our exposure to
possible losses in relation to these assessments to be R$6.1billion (R$4.9
billion at December 31, 2016) and to probable losses to be R$44.2 million as of
that date, for which we have recorded a provision in the corresponding amount
(R$41.6 million at December 31, 2016).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></I>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">Utilization of tax loss on
mergers</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">The Company and its subsidiaries have
received tax assessments from the Brazilian Tax authorities, from certain tax
credits arising from alleged non-compliance with the Brazilian tax regulation
concerning accumulated tax losses by companies in their final year of existence,
following a merger.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">In February 2016, Ambev was notified of the closure of
the administrative phase and filed lawsuits to discuss the matter. In September
2016, Ambev received the first favorable court decision. In March 2017, Ambev
received an unfavorable decision in the first judicial instance in the second
case under discussion in the judiciary and filed an Appeal.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">No provisions have been made for these
cases as Ambev believes that there are no express legal grounds that limit the
use of tax losses in cases where legal entities are extinguished (including in
the case of mergers), and therefore the tax inspector&#8217;s interpretation in these
tax assessments does not apply. </FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-92</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_255></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The Company estimates the possible
exposure to losses on these assessments at approximately R$549.4 million
(R$522.9 million at December 31, 2016).</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></I>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Disallowance of Expenses and Deductible
Losses</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=black face="times new roman">On December 2014, Ambev received a tax
assessment from the Brazilian Federal Tax Authorities related to the
disallowance of alleged non-deductible expenses and the deduction of certain
losses mainly associated to financial investments and loans, in the amount of
approximately R$1.3 billion. In August 2017, the Administrative Council of Tax
Appeals ("CARF") concluded the judgment fully favorable to Ambev and, in
December 2017, Ambev was notified of said decision, as well as of the
manifestation from the fiscal authority informing the non-interposition of
appeal and the permanent discontinuance of the case.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">In December 2015 and in December 2016,
Ambev also received other tax assessments related to the same matter. Ambev
Management estimates the amount of possible losses in relation to this
assessment to be approximately R$4.4 billion as of December&nbsp;31, 2017 (R$5.6
billion as of December&nbsp;31, 2016).</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></I>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Disallowance of taxes paid
abroad</FONT></I></P>
<P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></I>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Since 2014, Ambev has been receiving tax
assessments from the Brazilian Federal Tax Authorities related to the
disallowance of deductions associated with alleged unproven taxes paid
abroad.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The Company filed a defense for all
cases and awaits a decision in the first instance for the cases received in 2015
and 2016 and by the Administrative Court Management for the others.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=black face="Times New Roman">In
September, 2017, Ambev opted to include part of these tax assessments in the
Special Tax Regularization Program established by</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face="Times New Roman"> the Provisional Measure n&#186;. 783 (&#8220;PERT&#8221;)</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=black face="Times New Roman">. Ambev management estimates an amount of approximately
R$7.2 billion (R$2.8 billion as of December 31, 2016) as possible
loss.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Presumed Profit</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=black face="Times New Roman">In
April 2016, Arosuco (subsidiary of Ambev) received a tax assessment regarding
the use of Presumed Profit Method for the calculation of income tax and the
social contribution on net profit instead of Real Profit method. In September,
2017, Arosuco was notified of the unfavorable first level administrative
decision and filed Voluntary Appeal. Arosuco management estimates the amount of
possible losses in relation to this assessment to be approximately R$616.1
million (R$569.6 billion as of December 31, 2016).</FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-93</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_256></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=black face="Times New Roman">In
December 2016, CRBS (a subsidiary of Ambev) received a tax assessment regarding
the use of Presumed Profit Method for the calculation of income tax and social
contribution on net profit instead of the Real Profit method. In July 2017, CRBS
received an unfavorable decision at the first administrative instance and filed
a Voluntary Appeal. In September 2017, the Company opted to include this tax
assessment in the Special Tax Regularization Program established by Provisional
Measure n&#186;. 783 (&#8220;PERT&#8221;). There are no loss amounts related to this matter as of
December 31, 2017 (R $ 3.6 billion as of December 31, 2016).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">PIS and COFINS</FONT></B></P>
<P style="MARGIN: 0in 0in 10pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">PIS/COFINS over bonus
products</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=black face="Times New Roman">Since 2015, Ambev has been receiving tax assessments
issued by the Brazilian federal tax authorities, relating to amounts allegedly
due under Integration Programme/Social Security Financing Levy (PIS/COFINS) over
bonus products granted to its customers. The cases are now being discussed at
Courts. Ambev management estimates the possible losses related to these
assessments to be approximately R$3.1 billion (R$1.5 billion as of 31 December
2016).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=black face="Times New Roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">ICMS and IPI</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=black face="times new roman">ICMS-ST Unconditional Discounts</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=black face="Times New Roman">Ambev has been party to legal proceedings with the State
of Rio de Janeiro where it is challenging such State&#8217;s attempt to assess ICMS
Value-Added Tax with respect to unconditional discounts granted by Ambev from
January 1996 to February 1998. In October 2015 and January 2016, Ambev decided
pay the debts related to the assessments issued by the State of Rio de Janeiro
under an incentive tax payment, in the total amount of approximately R$271
million. In 2013, 2014 and&nbsp; 2015, Ambev has been receiving similar tax
assessments with the States of Par&#225; and Piau&#237;. The Company filed a defense for
this cases and currently awaits a decision. After the payments to the State of
Rio de Janeiro, Ambev management estimates the amount involved in these
proceedings to be approximately R$599.7 million (R$559.5 million as of 31
December 2016), classified as possible loss. </FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 106%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT></I>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 106%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">ICMS fiscal war</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Ambev is currently challenging tax
assessments from the States of S&#227;o Paulo, Rio de Janeiro, Minas Gerais and other
States, which question the legality of tax credits arising from existing tax
incentives received in other States. Ambev management estimates the possible
losses related to these assessments to be approximately R$1.9 billion (R$1.8
billion as of December 31, 2016) classified as possible loss.</FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-94</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_257></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">ICMS-ST Trigger</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=black face="Times New Roman">Over the years, Ambev has received tax assessments
relating to supposed ICMS differences considered due when the price of the
products sold by the company reaches levels close to or above the fixed price
table basis established by States. Ambev is currently challenging those charges
before Courts</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=black face="times new roman">Among other similar cases, in 2016, Ambev received three
assessment, issued by the State of Minas Gerais, in the original amount of R$1.4
billion. In the second quarter of 2017, the Administrative Court of the State
Minas Gerais,&nbsp; concluded the judgment of three relevant cases, unfavorably
to Ambev. Ambev presented defense against such decisions to the Upper House of
the Administrative Tax Court of the State of Minas Gerais and awaits for
judgement.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">In 2017, Ambev has receive a new tax
assessments issued by the State of Rio de Janeiro, about these same issue in the
total historical amount of 900 million. The Company filed a defense for this
cases and currently awaits a decision of the Administrative Court of the State
Rio de Janeiro.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">Ambev management estimates the total
possible losses related to this issue to be approximately R$5.8 billion (R$4.5
billion as of 31 December 2016). Ambev has recorded provisions in the total
amount of R$6.7 million in relation to the proceedings for which it considers
the chances of loss to be probable, considering specific procedural
issues.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">Manaus Free Trade Zone -
IPI</FONT></I></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Goods manufactured within the Manaus
Free Trade Zone &#8211; ZFM intended for consumption elsewhere in Brazil are exempt
from the IPI. The units of Ambev have been registering IPI presumed credits upon
the acquisition of exempted inputs manufactured therein in the Manaus Free Trade
Zone. Since 2009 we have been receiving a number of tax assessments from the RFB
relating to the disallowance of such presumed credits, which are under
discussion before the Brazilian Supreme Court. Management estimates possible
losses in relation to these assessments to be R$3.2 billion (R$2.0 billion as of
December 31, 2016).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">In addition, over the years, Ambev has
received tax assessments from the Brazilian Federal Tax Authorities charging
federal taxes considered unduly offset with the disallowed IPI excise tax
credits which are under discussion in other proceedings. Ambev is challenging
those charges before Courts. Ambev management estimates the possible losses
related to </FONT><a name="page_259"></a><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">these assessments to be approximately
R$900 million (R$735.5&nbsp; million as of 31 December 2016).</FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-95</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_258></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">IPI Excise Tax</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">In 2014 and 2015, we received tax
assessments from Brazilian Federal Tax Authorities related to IPI exercise tax,
supposedly due over remittances of manufactured goods to other related
factories. Management estimates the possible losses related to these assessments
to be approximately R$1.5 billion (R$1.5 billion as of December 31,
2016).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">Civil</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 10pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">Subscription Warrants</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Certain holders of warrants issued by
Old Ambev in 1996 for exercise in 2003 have filed lawsuits to be able to
subscribe the corresponding shares for an amount lower than what the Company
considers to have been established at the time of the issuance of the warrants.
The warrants object of those six proceedings represented, on December 31, 2017,
172.8 million Ambev common shares that would be issued at a value substantially
below fair market value, should claimants ultimately prevail.&nbsp; The
plaintiffs also claim they should receive past dividends related to these shares
in the amount of R$846,9 million (R$761.7 million on December 31, 2016). The
Company believes that the loss of this lawsuit is possible has not recorded any
provision in connection therewith. In the last quarter of 2017 the Company
reassessed and the likelihood&nbsp;of&nbsp;loss is remote of this lawsuits and
will not be disclosure of the coming interim financial statements.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">Lawsuit&nbsp; against Brewers Retail
Inc.</FONT></I></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">On 12 December 2014, claimants in Canada
brought a lawsuit against the Liquor Control Board of Ontario (&#8220;LCBO&#8221;), Brewers
Retail Inc. (&#8220;The Beer Store&#8221;) and the owners of The Beer Store (Molson Coors
Canada, Sleeman Breweries Ltd. and Labatt Breweries of Canada LP). The lawsuit,
brought pursuant to the Ontario Class Proceedings Act in the Ontario Superior
Court of Justice, seeks a declaration that LCBO and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman">The Beer Store</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: " color=windowtext face="times new roman"> agreed with each to allocate sales,
territories, customers or markets for the supply of beer sold in Ontario since
June 1, 2000, and a declaration that the owners of The Beer Store agreed to fix.
The claimants are seeking damages not exceeding R$3.7 billion (R$3,4 billion as
of December 31, 2016), for all mentioned parts. Considering that The Beer Store
operates according to the rules established by the Government of Ontario and
that&nbsp; prices at The Beer Store are independently set by each brewer, the
Company believes that there are strong defenses and, accordingly, has not
recorded any provision in connection therewith.</FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-96</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_259></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Contingent assets</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">According to IAS 37, contingent assets
are not recorded in consolidated financial statements, except when the
realization of income is virtually certain.</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"> There was no probable contingent assets
to be disclosed </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; BACKGROUND: white; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">on December 31, 2017.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The Company and its subsidiaries apply
for the refund of the PIS and COFINS installments collected with the inclusion
of ICMS in their calculation bases for the period from 1990 onwards. The amounts
involved in the refund requests are still being determined.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">31.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 110%" color=windowtext face="Times New Roman">NON-CASH ITEMS</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The Company carried out the following
investment and financing activities not involving cash:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="51%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisition of property, plant and
      equipment</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">105.6</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Acquisition of investments
      payables</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">208.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="51%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cash financing cost other than
      interests</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">42.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">37.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1,752.3</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">PERT 2017</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">199.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="51%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Fair value of option granted
    </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">221.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">205.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">144.6</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="51%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="17%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">41.1</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">32.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">RELATED PARTIES</FONT></B></P>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Policies and practices regarding the
realization of transactions with related parties</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The Company adopts corporate governance
practices and those recommended and/or required by the applicable
law.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Under the Company&#8217;s by laws the Board of
Directors is responsible for approving any transaction or agreements between the
Company and/or any of its subsidiaries, directors and/or shareholders (including
shareholders, direct or indirect shareholders of the Company). The Antitrust
Compliance and Related Parties Committee of the Company is required to advise
the Board of Directors of the Company in matters related to transactions with
related parties.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Management is prohibited from
interfering in any transaction in which conflict exists, even in theory, with
the Company interests. It is also not permitted to interfere in decisions of any
other management member, requiring documentation in the Minutes of Meeting of
the Board any decision to abstain from the specific deliberation.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The Company&#8217;s guidelines with related
parties follow reasonable or commutative terms, similar to those prevailing in
the market or under which the Company would contract similar </FONT><a name="page_261"></a><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">transactions with third parties. These
are clearly disclosed in the financial statements as reflected in written
contracts.</FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-97</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_260></A>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Transactions with management
members:</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">In addition to short-term benefits
(primarily salaries), the management members are entitled to participate in
Stock Option Plan (Note 24 &#8211; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Share-based payments</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 108%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Total expenses related to the Company&#8217;s
management members are as follows:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="52%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Short-term benefits<SUP>
      (i)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">33.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">21.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">32.1</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="52%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Share-based payments
      <SUP>(ii)</SUP></FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">38.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">36.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">39.0</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="52%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Total key management remuneration
      </FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">72.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">57.9</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="16%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">71.1</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(i) These correspond substantially to
management&#8217;s salaries and profit sharing (including performance
bonuses</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">).</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 7pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(ii) These correspond to the
compensation cost of stock options and restricted stocks granted to management.
These amounts exclude remuneration paid to members of the Fiscal
Council</FONT><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Excluding the above mentioned plan (Note
24 &#8211; </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Share-based payments</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">), the Company no longer has any type of
transaction with the Management members or pending balances receivable or
payable in its balance sheet.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Transactions with the Company's
shareholders:</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">a) Medical, dental and other
benefits</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The Funda&#231;&#227;o Antonio e Helena Zerrenner
Institui&#231;&#227;o Nacional de Benefici&#234;ncia (&#8220;Funda&#231;&#227;o Zerrenner) is one of Ambev&#8217;s
shareholders, and at December 31, 2017 held 10.2% of total share capital.
Funda&#231;&#227;o Zerrenner is also an independent legal entity whose main goal is to
provide Ambev&#8217;s employees, both active and retirees, with health care and dental
assistance, technical and superior education courses, facilities for assisting
elderly people, through direct initiatives or through financial assistance
agreements with other entities. On December 31, 2017 and 2016, actuarial
responsibilities related to the benefits provided directly by Funda&#231;&#227;o Zerrenner
are fully funded by plan assets, held for that purpose, which significantly
exceeds the liabilities at these dates. Ambev recognizes the assets (prepaid
expenses) of this plan to the extent of amounts from economic benefits available
to the Company, arising from reimbursements or future contributions
reduction.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The expenses incurred by Funda&#231;&#227;o
Zerrenner in providing these benefits totaled </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">R$300.1 </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">(R$</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">266.7 </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">as of December 31, 2016), of which
</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">R$264.3 </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">and </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">R$35.8 </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">related to active employees and
retirees</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"> respectively</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"> (R$</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">231.9 and </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">R$</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">34.8 </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">as of December 31, 2016 related to
active employees and retirees</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"> respectively). </FONT></P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-98</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_261></A>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">b) Leasing </FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">The Ambev, through its subsidiary BSA
(labeling), has an asset leasing agreement with Funda&#231;&#227;o Zerrenner, for R$63,3
for ten years, maturing on March 31, 2018.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">c) Leasing &#8211; Ambev. head
office</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Ambev has a leasing agreement of two
commercial sets with Funda&#231;&#227;o Zerrenner in the annual amount of R$3.3,
</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">maturing on January, 2020.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">d) Licensing agreement</FONT></I></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company maintains a licensing
agreement with Anheuser-Busch, Inc., to produce, bottle, sell and distribute
Budweiser products in Brazil, Canada, and sales and distribution agreements of
Budweiser products in Guatemala, Dominican Republic, Paraguay, El Salvador,
Nicaragua, Uruguay and Chile. In addition, the Company produces and distributes
Stella Artois products under license to ABI in Brazil and Canada and, by means
of a license granted to ABI, it also distributes Brahma&#8217;s product in the United
States and several countries such as the United Kingdom, Spain, Sweden, Finland
and Greece. The amount recorded was R$1.9 (R$2.0 on December 31, 2016 and R$52.8
on December 31, 2015) and R$314.5 (R$374.0&nbsp; on December 31, 2016 and
R$434.8 on December 31, 2015) as licensing income and expense,
respectively.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" color=windowtext face="times new roman">Ambev has licensing agreements with the
Group Modelo, subsidiaries of ABI, for to import, promote and sell products
Corona (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">Corona Extra</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">Corona Light</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">Coronita</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">Pacifico</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"> and </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">Negra Modelo</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%" color=windowtext face="times new roman">) in countries of the Latin America and
the Canada.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Transactions with related
parties</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="72%" colSpan=6>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Current</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Trade </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">receivables <SUP>(i)</SUP>
      </FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Other Trade </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">receivables <SUP>(i)</SUP>
      </FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Trade </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">payables&nbsp; <SUP>(i)</SUP>
      </FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Other Trade </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">payables&nbsp; <SUP>(i)</SUP>
      </FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Borrowings and</FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;interest
payable</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Dividends </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">payables </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">AB InBev</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">33.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(363.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">AB Procurement </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">8.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">AB Services</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">29.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(6.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">AB USA</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">14.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">16.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(375.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(8.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Ambrew</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(89.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cervecer&#237;a Modelo</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">91.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">5.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(589.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(59.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Inbev</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">23.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(33.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">ITW International</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(212.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(48.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(590.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Panam&#225; Holding</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">20.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(4.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13.9</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">8.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(73.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">130.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">137.6</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,435.6)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(295.7)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(48.3)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(680.8)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">(i) The amount represents the trade
operations (purchase and sale) and the reimbursement between the companies of
the group.</FONT></P>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-99</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_262></A>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="72%" colSpan=6>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Current</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Trade </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">receivables <SUP>(i)</SUP>
      </FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Other Trade</FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;receivables <SUP>(i)</SUP>
      </FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Trade </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">payables&nbsp; <SUP>(i)</SUP>
      </FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Other Trade</FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;payables&nbsp; <SUP>(i)</SUP>
      </FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Borrowings and </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">interest payable</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;Dividends </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">payables </FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">AB InBev</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">6.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">13.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(308.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(0.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">AB Package</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(31.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">AB Services</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">15.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">AB USA</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">19.7</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">18.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(247.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Ambev Peru</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(4.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Ambrew </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(89.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Bogot&#225; Beer</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">211.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(211.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cervecer&#237;a Modelo</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(444.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Inbev</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.2</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">17.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(17.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(0.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">ITW International</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(209.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(30.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(590.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Modelo</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(15.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(54.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="28%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">7.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(6.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(14.4)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="28%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">37.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">284.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,075.8)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(495.0)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(30.5)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="12%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(680.8)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">(i) The amount represents the trade
operations (purchase and sale) and the reimbursement between the companies of
the group.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman">The tables below represent the
transactions with related parties, recognized in the income
statement:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="48%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2017</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="48%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Company</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Buying / Service </FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">fees / Rentals</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Sales</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Royalties</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net finance cost</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="48%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">AB Procurement </FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(5.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">20.8</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="48%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">AB USA</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(258.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">42.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(284.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="48%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Ambev Peru</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(8.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="48%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cervecer&#237;a Modelo</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(749.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.4</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(45.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="48%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Inbev</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(73.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="48%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(91.1)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">8.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(35.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(16.8)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="48%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,186.9)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">73.3</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(366.2)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(16.8)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2016</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="48%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Company</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Buying / Service</FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;fees / Rentals</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Sales</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Royalties</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Net finance cost</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="48%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">AB Package</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(32.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="48%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">AB USA</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(206.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">52.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(292.8)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="48%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cervecer&#237;a Modelo</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(596.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(46.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="48%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">InBev</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(77.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="48%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">ITW International</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(26.0)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="48%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Modelo</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(63.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="48%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">SAB Group</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(3.5)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">23.5</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="48%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(45.6)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.3</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(32.2)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="48%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1,023.9)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">78.1</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(371.9)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(26.0)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 10pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-100</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_263></A>
<DIV align=left>
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  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman"></FONT></B>&nbsp;</P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">2015</FONT></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Company</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Buying / Service</FONT></B></P>
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">&nbsp;fees / Rentals</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Sales</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><I><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Royalties</FONT></I></B></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="61%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">AB Inbev</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(55.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(35.5)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="61%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">AB USA</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(124.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">49.0</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(288.1)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="61%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Cervecer&#237;a Modelo</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(257.7)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">1.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(52.9)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">InBev</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(73.3)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.1</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="61%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Modelo</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(356.9)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">-</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" width="61%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">Others</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(74.0)</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">0.6</FONT></P></TD>
    <TD style="HEIGHT: 10.2pt; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt" vAlign=bottom width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(1.1)</FONT></P></TD></TR>
  <TR style="HEIGHT: 10.2pt">
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" vAlign=bottom width="61%">&nbsp;</TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(942.1)</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">50.8</FONT></B></P></TD>
    <TD style="HEIGHT: 10.2pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 3.5pt; PADDING-RIGHT: 3.5pt; BACKGROUND-COLOR: #ccecff" width="13%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 9pt; LAYOUT-GRID-MODE: both; TEXT-AUTOSPACE: ideograph-numeric" color=black face="times new roman">(377.6)</FONT></B></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 8pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 115%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><U><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">Denomination used in the tables above</FONT></U><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">:</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 15.65pt">
    <TD style="HEIGHT: 15.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Anheuser-Busch InBev N.V. (&#8220;AB
  InBev&#8221;)</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.65pt">
    <TD style="HEIGHT: 15.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Anheuser-Busch Packaging Group Inc. </FONT><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">(&#8220;AB Package&#8221;)</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.65pt">
    <TD style="HEIGHT: 15.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Anheuser-Busch Inbev Services LLC (&#8220;AB
      Services&#8221;)</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.65pt">
    <TD style="HEIGHT: 15.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=ES style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Anheuser-Busch Inbev USA LLC (&#8220;AB
    USA&#8221;)</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.65pt">
    <TD style="HEIGHT: 15.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Compa&#241;ia Cervecera Ambev Peru S.A.C. (&#8220;Ambev
      Peru&#8221;)</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.65pt">
    <TD style="HEIGHT: 15.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Ambrew S.A. (&#8220;Ambrew&#8221;)</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.65pt">
    <TD style="HEIGHT: 15.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Bogot&#225; Beer Company BBC S.A.S</FONT><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=windowtext face="times new roman">. (&#8220;Bogot&#225; Beer&#8221;)</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.65pt">
    <TD style="HEIGHT: 15.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=ES style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Cervecer&#237;a Modelo de Mexico S. de R.L. de C.V.
      (&#8220;Cervecer&#237;a Modelo&#8221;)</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.65pt">
    <TD style="HEIGHT: 15.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Inbev Belgium N.V. (&#8220;Inbev&#8221;)</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.65pt">
    <TD style="HEIGHT: 15.65pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Interbrew International B.V. (&#8220;ITW
      International&#8221;)</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.8pt">
    <TD style="HEIGHT: 15.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=ES style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Cervecer&#237;a Modelo de Guadalajara S.A.
      (&#8220;Modelo&#8221;)</FONT></P></TD></TR>
  <TR style="HEIGHT: 15.8pt">
    <TD style="HEIGHT: 15.8pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="100%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" color=black face="times new roman">Bavaria S.A. (&#8220;SAB
Group&#8221;)</FONT></P></TD></TR></TABLE></DIV>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">33.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">GROUP COMPANIES</FONT></B></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 22.95pt; TEXT-INDENT: -22.7pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">Listed below are the main group companies. </FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Argentina</FONT></B></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">CERVECERIA Y MALTERIA QUILMES
      SAICA Y G </FONT></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Charcas 5160 &#8211; Buenos
      Aires</FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">99.75%</FONT></P></TD></TR>
  <TR style="HEIGHT: 4pt">
    <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">&nbsp;</TD>
    <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Bol&#237;via</FONT></B></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">CERVECERIA BOLIVIANA
      NACIONAL&nbsp; S.A.</FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Avenida Montes 400 e Rua
      Chuquisaca 121 - La Paz</FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">85.67%</FONT></P></TD></TR>
  <TR style="HEIGHT: 4pt">
    <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">&nbsp;</TD>
    <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Brazil</FONT></B></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">AMBEV S.A.</FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Rua Dr. Renato Paes de Barros,
      1.017, 3&#186; andar, Itaim Bibi, S&#227;o Paulo</FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Companhia Consolidadora
    </FONT></P></TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">&nbsp;</TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">AROSUCO AROMAS E SUCOS
      LTDA.</FONT></P>
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Avenida Buriti, 5.385, Distrito
      Industrial - Manaus - AM</FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">100.00%</FONT></P></TD></TR>
  <TR style="HEIGHT: 4pt">
    <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">&nbsp;</TD>
    <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">CRBS S.A.</FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Avenida Antarctica, 1.891, Fazenda
      Santa &#218;rsula &#8211; Jaguari&#250;na &#8211; SP</FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">100.00%</FONT></P></TD></TR>
  <TR style="HEIGHT: 4.35pt">
    <TD style="HEIGHT: 4.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">&nbsp;</TD>
    <TD style="HEIGHT: 4.35pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">CERVEJARIA Z.X.</FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Avenida Antarctica, 1.891, Fazenda
      Santa Ursula &#8211; Jaguari&#250;na - SP</FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top rowSpan=2 width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">86.42%</FONT></P></TD></TR>
  <TR style="HEIGHT: 4pt">
    <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 3pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman"></FONT>&nbsp;</P></TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Canad&#225;</FONT></B></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">LABATT BREWING COMPANY
      LIMITED</FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">207&nbsp; Queens Quay West, Suite
      299 - M5J 1A7 - Toronto</FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">100.00%</FONT></P></TD></TR>
  <TR style="HEIGHT: 4pt">
    <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">&nbsp;</TD>
    <TD style="HEIGHT: 4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Chile</FONT></B></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">CERVECERIA CHILE S.A.</FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Avenida Presidente Eduardo Frei
      Montalva, 9.600 - Comuna de Quilicura - Santiago</FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">100.00%</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">&nbsp;</TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Spain</FONT></B></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">JALUA SPAIN, S.L.</FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Juan Vara Ter&#225;n, 14 &#8211; Ilhas
      Can&#225;rias </FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">100.00%</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Luxembourg</FONT></B></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">AMBEV LUXEMBOURG</FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">&nbsp;15 Breedewues - L1259 -
      Sennngerberg</FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">100.00%</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Guatemala</FONT></B></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">INDUSTRIAS DEL ATL&#193;NTICO, SOCIEDAD
      AN&#211;NIMA</FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">KM 122 Ruta al Atlantico &#8211; C.P
      01012 Teculutan, Zacapa </FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">50.00%</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">&nbsp;</TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Paraguay</FONT></B></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">CERVECERIA PARAGUAYA
      S.A.</FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Ruta Villeta KM 30 - Ypan&#233;
      </FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">87.36%</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">&nbsp;</TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Dominican
    Republic</FONT></B></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">CERVECER&#205;A NACIONAL DOMINICANA,
      S.A.</FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Autopista 30 de Mayo, Distrito
      Nacional</FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">55.00%</FONT></P></TD></TR></TABLE></DIV>
<DIV></DIV>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-101</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_264></A>
<a name="_bclPageBorder265"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">&nbsp;</TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Uruguay</FONT></B></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">LINTHAL S.A.</FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">25 de Mayo 444, office 401 -
      Montevideo</FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">100.00%</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">&nbsp;</TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">CERVECERIA Y MALTERIA PAYSSAND&#218;
      S.A.</FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Rambla Baltasar Brum, 2.933 &#8211;
      11800 - Payssandu</FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">99.93%</FONT></P></TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">&nbsp;</TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">MONTHIERS SOCIEDAD AN&#211;NIMA
      </FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cesar Cortinas, 2.037 - Montevideo
      </FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">100.00%</FONT></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" color=windowtext face=Arial,sans-serif></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-102</FONT></P></DIV>
<HR align=center SIZE=2 width="100%" noShade>

<DIV style="PAGE-BREAK-BEFORE: always">&nbsp;</DIV>&nbsp; <A name=page_265></A>
<a name="_bclPageBorder266"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">
<DIV align=left>
<TABLE style="WIDTH: 100%; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>

  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><B><FONT style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Panama</FONT></B></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">&nbsp;</TD></TR>
  <TR style="HEIGHT: 8.5pt">
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=bottom width="80%">
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Cervecer&#237;a Nacional S. de
      R.L.</FONT></P>
      <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=ES style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">Planta Pasadena, v&#237;a Ricardo J
      Alfaro y Sim&#243;n Bol&#237;var, ciudad de Panam&#225;, Rep. De Panam&#225; </FONT></P></TD>
    <TD style="HEIGHT: 8.5pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="20%">
      <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 115%; TEXT-AUTOSPACE: ideograph-numeric" color=windowtext face="times new roman">100.00%</FONT></P></TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 6pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=ES-AR style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">34.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 13pt" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 13pt" color=windowtext face="Times New Roman">INSURANCE</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">The Company has a program of risk
management in order to hire coverage compatible with its size and operation.
Coverage was contracted for amounts considered sufficient by management to cover
possible losses, considering the nature of its activity, the risks involved in
their operations and the orientation of its insurance advisors.</FONT></P>
<P style="MARGIN: 0in 0in 0in 21.3pt; TEXT-INDENT: -21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">35.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: 115%" color=windowtext face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman">EVENTS AFTER THE REPORTING PERIOD</FONT></B></P>
<P style="MARGIN: 0in 0in 0in 21.3pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LINE-HEIGHT: 115%" color=windowtext face="Times New Roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" color=windowtext face="times new roman">i) In January 2018, Ambev S.A., through its subsidiaries
Labatt Breweries and Ambev Luxemburgo, acquired two new loans totaling
approximately R$2.0 billion, maturing in up to one year.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman">ii) In January 2018, Ambev S.A.,
informed its investors and the market in general that, as per the notice to the
market issued as of December 1<SUP>st</SUP>, 2017, concluded the transaction
with ELJ, shareholder in Tenedora, owner of almost the totality of CND. As a
result of the such transaction, the Company, directly and indirectly, became the
owner of approximately 85% of Tenedora, with ELJ owning the remaining 15%, as
well as the term of exercise of the call option becomes from January 2019 to
January 2022.</FONT></P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 12pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT>&nbsp;</P>
<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 11.7pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both; LINE-HEIGHT: 110%" color=windowtext face="times new roman"></FONT></B>&nbsp;</P>
<P style="TEXT-ALIGN: center"><FONT style="FONT-SIZE: 10pt" face="Times New Roman">F-103</FONT></P></DIV>
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<TYPE>EX-8.1
<SEQUENCE>2
<FILENAME>exhibit8_1.htm
<DESCRIPTION>EX-8.1
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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 10pt 0in; TEXT-INDENT: 0in"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-TRANSFORM: uppercase" face=times>Exhibit 8.1:&nbsp;&nbsp;&nbsp; MATERIAL SUBSIDIARIES</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in; TEXT-INDENT: 0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Our operations are conducted principally by Ambev, and, in the case of our CAC, Latin America South and Canadian operations, by direct and indirect subsidiaries of Ambev.&nbsp; The following is a list of the significant companies that Ambev controlled, either directly or indirectly, as of December&nbsp;31, 2017:&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company indirectly owns 99.75% of the economic and voting interests in Cerveceria Y Malteria Quilmes Saica Y G (incorporated in Argentina). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company indirectly owns 85.67% of the economic and voting interests in Cerveceria Boliviana Nacional S.A. (incorporated in Bolivia). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company, directly and indirectly, owns 100% of the economic and voting interests in Arosuco Aromas e Sucos Ltda. (incorporated in Brazil). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company, directly and indirectly, owns 100% of the economic and voting interests in CRBS S.A (incorporated in Brazil). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company directly owns 86.42% of the economic and voting interests in Cervejaria ZX S.A. (incorporated in Brazil). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">6.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company indirectly owns 100% of Labatt Brewing Co. Ltd. (incorporated in Canada). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">7.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company indirectly owns 100% of the economic and voting interests in Cerveceria Chile S.A. (incorporated in Chile). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">8.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company indirectly owned 55.0% of the economic and voting interests in Cervecer&#237;a Nacional Dominicana S.A. (incorporated in Dominican Republic) as of December 31, 2017, which was increased to 85.0% on January 18, 2018. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">9.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company indirectly owns 50.0% of the economic and voting interests in Industrias Del Atl&#225;ntico, Sociedad An&#243;nima (incorporated in Guatemala). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">10.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company directly owns 100% of the economic and voting interests in Ambev Luxembourg S.&#224; R.L. (incorporated in Luxembourg). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">11.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company, directly and indirectly, owns 100% of the economic and voting interests in Cervecer&#237;a Nacional S. de R.L. (incorporated in Panama). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">12.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company indirectly owns 87.36% of the economic and voting interests in Cerveceria Paraguaya S.A. (incorporated in Paraguay). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">13.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company directly owns 100% of the economic and voting interests in Jalua Spain S.L. (incorporated in Spain). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">14.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company indirectly owns 100% of the economic and voting interests in Monthiers S.A. (incorporated in Uruguay). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">15.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company indirectly owns 100% of the economic and voting interests in Linthal S.A., (incorporated in Uruguay). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0in 0in 56.7pt; TEXT-INDENT: -0.5in"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">16.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">The Company indirectly owns 99.93% of the economic and voting interests in Cerveceria Y Malteria Payssand&#250; S.A. (incorporated in Uruguay). </FONT></P>

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<DOCUMENT>
<TYPE>EX-11.1
<SEQUENCE>3
<FILENAME>exhibit11_1.htm
<DESCRIPTION>EX-11.1
<TEXT>

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<p align=center style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;text-align:center;"><b><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Code of Business Conduct</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0in;margin-top:0in;"><b><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Introduction</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:justify;text-justify:inter-ideograph;"><font color=#000101 face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:justify;text-justify:inter-ideograph;"><font color=#000101 face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Ambev operates in several countries and cultures as part of
Anheuser-Busch InBev group (AB InBev), global leader in the beer market. In
order to keep our Company united it is essential for us to follow an ethical,
clear and consistent code of conduct, since that, in order to achieve our
business goals, we always adhere to the highest standards of business integrity
and ethics and comply with all applicable laws and regulations.</font><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;"> </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:2.45pt;margin-top:0in;text-align:justify;text-justify:inter-ideograph;"><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;letter-spacing:2.2pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:justify;text-justify:inter-ideograph;"><b><font color=#000101 face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Therefore, Ambev's Code of Business Conduct (the &quot;Code of
Conduct&quot;) includes the most important ethical behavior principles that
should guide all our employees in their daily activities, as well as all
entities operating on our behalf.&#160;&#160; </font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:2.45pt;margin-top:0in;text-align:justify;text-justify:inter-ideograph;"><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:2.45pt;margin-top:0in;text-align:justify;text-justify:inter-ideograph;"><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">This
Code of Conduct, along with our principles and other Ambev policies plays an
essential role in building the foundation for long-term success. </font><b><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">No
financial goal, sales target or effort to outdo the competition outweighs our
commitment to ethics, integrity, and compliance with applicable law.</font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:justify;text-justify:inter-ideograph;"><font color=#000101 face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:2.45pt;margin-top:0in;text-align:justify;text-justify:inter-ideograph;"><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">This
Code of Conduct applies to all directors, officers and employees (&quot;Ambev's
People&quot; or &quot;Employees&quot;) of Ambev S.A. and its subsidiaries in
Brazil and abroad (&quot;Ambev&quot; or the &quot;Company&quot;), as well as to
all business transactions we engage in, also expressing the principles to be
followed by individuals and entities operating on our behalf. We expect our
suppliers, service providers, and other business partners to act consistently
with this Code of Conduct. </font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:2.45pt;margin-top:0in;text-align:justify;text-justify:inter-ideograph;"><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:2.45pt;margin-top:0in;text-align:justify;text-justify:inter-ideograph;"><b><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">All
Employees should carefully read and understand this Code of Conduct.</font></b><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;"> Leaders should also
guarantee that the Code of Conduct is known and followed within their respective
areas of responsibility, and that it receives proper attention and follow-up.</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:2.45pt;margin-top:0in;text-align:justify;text-justify:inter-ideograph;"><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:2.55pt;margin-top:0in;text-align:justify;text-justify:inter-ideograph;"><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Ambev's
People are encouraged to report to the Company any activity or requested action
that they believe to be, even potentially, in violation of the Company's laws,
regulations or policies, including this Code of Conduct. Reporting should be
done to the Compliance Area of the Legal Department (the &quot;Compliance
Area&quot;) or through the Compliance Helpline (see item 21.2 below). Ambev
prohibits and will not tolerate any reprisal or threat of reprisal against any
Employee reporting such violation. </font><b><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">Only with your active support we can be the
Best Beer Company bringing people together in a Better World. </font></b></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:0pt;margin-top:0in;"><b><font face=verdana,sans-serif lang=EN-US style="font-size:11.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:right;"><b><font face=verdana,sans-serif lang=PT-BR style="font-size:11.0pt;line-height:normal;">Bernardo
Pinto Paiva</font></b></p>

<p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:right;"><b><font face=verdana,sans-serif lang=PT-BR style="font-size:11.0pt;line-height:normal;">Victorio
Carlos de Marchi</font></b></p>

<p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:right;"><b><font face=verdana,sans-serif lang=PT-BR style="font-size:11.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:right;"><b><font face=verdana,sans-serif lang=PT-BR style="font-size:11.0pt;line-height:normal;">&nbsp;</font></b></p>

<p align=right style="margin-bottom:.0001pt;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:right;"><b><font face=verdana,sans-serif lang=PT-BR style="font-size:11.0pt;line-height:normal;">&nbsp;</font></b></p>


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<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0pt 0pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Contents</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0pt 0pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>1.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Our principles</FONT></P>

<P style="PAGE-BREAK-AFTER: avoid; MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>2.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Culture</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>3.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Honest and ethical conduct</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>4.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Environment, health and safety</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>5.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Human rights</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>6.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Responsible Drinking</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>7.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Compliance with competition law</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>8.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Conflicts of interest</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>9.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Anti-corruption policy</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>10.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Gifts and Hospitality </FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>11.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Political contributions and Mandates</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>12.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Books, Records and Controls</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>13.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Code of Dealing</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>14.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; <FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Confidential information</FONT></FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>15.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Emails, Internet and information systems</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>16.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Social media and instant messaging applications</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>17.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Use of Company's assets </FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>18.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Code of Responsible Commercial Communication</FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>19.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; <FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>External communication </FONT></FONT></FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>20.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT style="POSITION: relative; TOP: 0.5pt" face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Ethics Committee</FONT></FONT></P>

<P style="MARGIN: 0in 0pt 0pt 42.55pt; TEXT-INDENT: -28.35pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>21.</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Contacts: Compliance Channel and Compliance Helpline</FONT></P>

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<P style="MARGIN: 0in 0pt 0pt 0in"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>1. Our principles </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 4.3pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Our Code of Conduct is a practical guide to living our principles and values every day. It is designed to be clear and must be the context in which all Company's business decisions are made.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>10 principles</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; TEXT-DECORATION: none; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><U><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Dream</FONT></U></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>1.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Our shared Dream energizes everyone to work in the same direction: Bringing people together for a better world.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><U><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>People</FONT></U></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>2.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Our greatest strength is our people. Great people grow at the pace of their talent and are rewarded accordingly.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 5.6pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>3.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>We recruit, develop and retain people who can be better than us. We will be judged by the quality of our teams.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><U><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Culture</FONT></U></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>4.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>We are never completely satisfied with our results, which are the fuel of our Company. Focus and zero complacency guarantee lasting competitive advantage.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 4.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>5.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>The Consumer is the Boss. We serve our consumers by offering brand experiences that play a meaningful role in their lives, and always in a responsible way.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 43.95pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>6.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>We are a Company of Owners. Owners take results personally.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>7.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>We believe common sense and simplicity are usually better guides than unnecessary sophistication and complexity.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 24.95pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>8.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>We manage our costs tightly, to free up resources that will support sustainable and profitable top line growth.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>9.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Leadership by personal example is at the core of our Culture. We do what we say.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>10.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>We never take shortcuts. Integrity, hard work, quality and responsibility are key to building our Company.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>2. Culture</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 2.55pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.25pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Every Employee must strictly comply with all applicable laws, regulations and policies, observing the highest standards of business ethics at all times</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.25pt; LINE-HEIGHT: normal" face=verdana,sans-serif>. The Company's reputation for honesty and integrity is one of our most valuable assets. </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>3</FONT></FONT><FONT face=verdana,sans-serif><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>No Employee is authorized to require any action against this Code of Conduct, which is </FONT><U><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>not</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif> subject to any kind of waiver or exception, on account of business or competitive needs, industry practices or other kind of demand.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Every leader is responsible for the enforcement of and compliance with our policies, including their distribution and availability to the teams, as well as their amendments.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Every Employee that deliberately violates this policy, or authorizes or allows its violation by a subordinate, is subject to disciplinary action, including dismissal.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>3. Honest and ethical conduct</FONT></B></P>

<P style="MARGIN: 0in 2.45pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>We are a company of "owners". Ambev's People behave as owners, with honesty, objectivity and diligence in performing their functions and duties. The Company trusts its Employees to demonstrate professionalism in all subjects related to Ambev and to not engage in any activity that is illegal or breaches the provisions of this Code of Conduct and of other applicable policies. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Every relationship with our customers, suppliers, competitors, agencies, employees and government representatives must be guided by compliance with all applicable laws and regulations, including, but not limited to, anti-corruption and competitive legislation, as described below in this Code of Conduct, as well as laws and regulations regarding exchange control and anti-money laundering regulations</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif> (for more information, see </FONT><I><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Global Policy against Money Laundering</FONT></I><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>This one is for you, our leader!</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Be an example of ethical behavior to all Ambev's People! </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Do not use your position to ask for services or personal favors from subordinates or business partners. Encourage our business partners to adopt managerial practices that respect human dignity, ethics and environmental conservancy and look for partners that are in accordance with our ethical standards and respect for the laws and regulations of Ambev. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>4. Environment, health and safety </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>In support of the Company's dream, </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>we work vigorously to achieve a high standard of environmental, health, and safety performance throughout the organization</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>: (i) we strive to prevent any accident, injury and occupational illness within our operations, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; BACKGROUND: white; LINE-HEIGHT: normal" face=verdana,sans-serif>including promoting the proper use of safety equipments, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>(ii) we comply with all applicable environmental, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; BACKGROUND: white; LINE-HEIGHT: normal" face=verdana,sans-serif>occupational health and safety </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>laws and regulations, </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; BACKGROUND: white; LINE-HEIGHT: normal" face=verdana,sans-serif>as well as </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>the Company's standards and other requirements, and (iii) we strive to manufacture our products with maximum respect for the environment, promoting rational use of natural resources, while maintaining our commitment to quality and cost-efficiency. Ambev's People play a fundamental role to ensure that we take into account the environment in our daily work, helping to limit our use of scarce resources and ensuring we continue our commitment to recycling throughout our operations. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>5. Human rights </FONT></B></P>

<P style="BACKGROUND: white; MARGIN: 0in 0pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>As signatories to the United Nations Global Compact, AB InBev and Ambev are committed to </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>business practices that do not infringe on human rights and do align with </FONT></B>


<B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>various international standards of responsible business conduct</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>, including the Universal Declaration of Human Rights and the Declaration of the International Labor Organization on Fundamental Principles and Rights at Work. Our Global Human Rights Policy sets out standards, expectations and commitments regarding our responsibility to respect human rights, among them the prohibition of child labor or any other form of compulsory labor in our operations or of our business partners. For more details see our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Human Rights Policy</FONT></I><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>. </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>4</FONT></FONT><FONT face=verdana,sans-serif><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.5pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>In addition to our own operation, Ambev is committed to upholding high standards of responsible behavior among its business partners, including suppliers and service providers, through our Supply Global Responsibility Policy. To learn more, see our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Supply Global Responsibility Policy</FONT></I><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>5.1. </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; BACKGROUND: white; LINE-HEIGHT: normal" face=verdana,sans-serif>Discrimination and harassment </FONT></B></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Respect for people, diversity and authenticity is an essential foundation in our Culture. This is why the </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Company values and promotes initiatives to foster diversity and equality in the workplace by prohibiting every form of discrimination whether by race, religion, gender, sexual orientation, age, political opinion, nationality, social status, origin or any other</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>. Decisions related to hiring, benefits, promotions, training, disciplinary action and dismissal must be taken solely based on Employees skills and performance. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Likewise, Ambev does not tolerate any kind of harassment or aggression, physical, psychological, moral or sexual. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>5.2. Free association</FONT></B></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Ambev supports the right of its Employees to freely associate with unions and other organizations of choice, as well as to enter into collective bargaining to support their interests (it is forbidden, however, to use the Company's assets, resources and registered trademarks for these purposes). The Company does not discriminate, under any form, Employees that choose to constitute or associate with unions and other organizations, neither Employees that choose not to engage in these activities.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=white face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>6. Responsible Drinking </FONT></B></P>

<P style="BACKGROUND: white; MARGIN: 0in 0pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>As leaders in the beer market </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>we are committed to promoting the responsible consumption of our products</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>. As owners, if we choose to consume alcohol, we must set the example and do it in a responsible and smart way, both inside and outside our workplace. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.3pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.3pt; LINE-HEIGHT: normal" face=verdana,sans-serif>In this sense, we do not tolerate any level of compromising of activities due to excessive or improper alcohol consumption during working hours or while conducting Company&#8217;s business, and we do not tolerate that our Employees operate or drive motorized vehicles after consuming alcohol, during working hours or not. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>As a responsible employer, the Employee's safety and well-being at work are our greatest priorities. For these reasons, we have a global policy regarding alcohol consumption at work, which describes the Company's responsibilities as well as the Employee's and </FONT>


<FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>provides clear guidelines on what to expect from both. To learn more, see our Responsible Drinking </FONT><I><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Policy.</FONT></I></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>5</FONT></FONT><FONT face=verdana,sans-serif><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>7. Competition </FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; BACKGROUND: white; LINE-HEIGHT: normal" face=verdana,sans-serif>Ambev believes in fair competition and</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>, therefore, Ambev's People should be aware and understand how the antitrust laws affect their daily work, and comply with it. Breaching any of these laws may result in serious consequences to Ambev and to the Employees involved, such as fines, reputation damage, disputes and even imprisonment.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>To ensure compliance with the antitrust laws:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&nbsp;Be ethical! </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; BACKGROUND: white; LINE-HEIGHT: normal" face=verdana,sans-serif>Do not exchange nor share confidential information with competitors (for example, incoming price increase, production costs or commercial strategies).</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&#8226; Do not reach agreements or understandings with competitors that might restrict competition (for example, arrangements on price increase or production volume limitation, or agreements on exclusive territories, or customer allocation);</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&#8226; Do not impose minimum or fixed resale prices on customers;</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&#8226; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; BACKGROUND: white; LINE-HEIGHT: normal" face=verdana,sans-serif>Reject all actions that might be interpreted as or are anticompetitive, monopolist or in violation of the antitrust laws (for example, cartel);</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&#8226; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; BACKGROUND: white; LINE-HEIGHT: normal" face=verdana,sans-serif>Be very careful to comply with these rules in trade association meetings and all other contacts with our competitors</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>;</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&#8226; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; BACKGROUND: white; LINE-HEIGHT: normal" face=verdana,sans-serif>Do not make comments with third parties, either directly or indirectly, about products and services provided by competitors, that are not proven, based on public facts, or with the intent to publicly discredit our competitor's image</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&#8226; Follow the guidelines of our </FONT><I><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Antitrust Compliance Policy</FONT></I><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif> at all times and,</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&#8226; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Ask for approval from the Compliance Team (via Compliance Channel) before any modification or creation of new commercial programs.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Not knowing the rules, therefore always &nbsp;seek advice from the Compliance Team. If you have any suspicion that Ambev or any Employee is involved in any anticompetitive behavior, please use our Compliance Helpline or contact the Compliance Team immediately.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>8. Conflicts of interest</FONT></B></P>

<P style="MARGIN: 0in 2.45pt 0pt 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Ambev's People should not get involved in any activity or situation which would conflict or interfere with the performance of their duties to the Company, i.e., Ambev's People must not compete with the Company or allow personal and family interests to influence, directly or indirectly, the Company's businesses.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>A conflict of interest can arise in any personal relationship that can influence our ability to act in the best interest of the Company, or when our assessment of a circumstance could be affected or appear to be affected by the possibility of a personal benefit. Even in those cases where we do not receive a personal benefit in reality, the appearance of conflict of interest may negatively impact our credibility. We should do everything to avoid a conflict of interest. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 1.15pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Conflicts of interest may arise in several situations. There may be a conflict when you, or a family member:</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>6</FONT></FONT><FONT face=verdana,sans-serif><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 3.75pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&#8226; Own interest - individually or through family members (1st grade relatives such as parents, siblings, spouses and offspring) in business from, or take part in the management or administration of, any supplier, service provider, customer and competitor or in any other organization engaged in business, or willing to do so, with Ambev or any other company from the AB Inbev Group (unless interest in publicly traded companies for personal investment purposes).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&#8226; Take a business decision motivated by a personal interest.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&#8226; Receive a personal benefit from a supplier, service provider, customer or competitor, such as gifts, payment for meals, transportation or accommodation, regardless of value.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&#8226; Use the Company's assets or your position for private purposes. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif>In addition, Employees may have or form close personal friendships and, sometimes, affective relationships with their coworkers. To avoid conflicts of interest arising from these relationships, Employees should report to the Compliance Team if: (i) a member of your family or an Employee with whom you have a close personal relationship works for the company, or (ii) regardless of the management line, a personal relationship with a coworker may influence your decision-making process or interfere with your performance at work.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.2pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif>We do not admit professional decisions based on personal interests and relationships. That&#180;s why you should seek guidance and aim for transparency at all times. In many cases the conflicts may be solved with an open conversation. A conflict of interest is not necessarily a violation of the Code of Conduct, but not disclosing it is!</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Employees involved in an actual or potential conflict of interest situation must report it immediately to the Compliance Team</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif>, and refrain from taking part in any decision related to the conflict of interest situation.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>9. Anti-corruption policy</FONT></B></P>

<P style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.25pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Ambev has a zero tolerance anticorruption policy to each and every corruption activity. Ambev's People must comply, and ensure our partners comply, with local and international anti-corruption legislation, in all places we operate. This includes Law No. 12,846/2013 ("Brazilian Anti-corruption Law") and its regulations, the US Foreign Corrupt Practices Act ("FCPA") and other local and international applicable laws related to bribery and corruption, as well as norms, policies and internal procedures of Ambev. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.1pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.25pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Our Employees and business partners are strictly </FONT><B><U><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.25pt; LINE-HEIGHT: normal" face=verdana,sans-serif>prohibited</FONT></U></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.25pt; LINE-HEIGHT: normal" face=verdana,sans-serif> from directly or indirectly </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.25pt; LINE-HEIGHT: normal" face=verdana,sans-serif>promising, offering or giving undue advantage to a Public Official or Entity or to any other third parties on Ambev's behalf</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.25pt; LINE-HEIGHT: normal" face=verdana,sans-serif> (in addition to cash and equivalents, may be also deemed "undue advantage", gifts, products, entertainment (tickets), accommodation, meals, travel expenses, or anything else of tangible or intangible value). </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif>Small payments as per the request of a Public Official to expedite or secure performance of a routine, non-discretionary governmental action ("facilitation payments") </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif>are strictly prohibited </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif>under this Code of Conduct, even if the refusal to pay would generate losses to the Company. </FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>7</FONT></FONT><FONT face=verdana,sans-serif><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif>In order to ensure compliance with our Anti-corruption Policy, do not engage a third party who may eventually interact with a Public Official on behalf of the Company (Intermediary) without the proper approval by the Compliance Team.</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.25pt; LINE-HEIGHT: normal" face=verdana,sans-serif>To learn more about this subject, please refer to the Company's </FONT><I><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.25pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Anti-corruption Policy</FONT></I><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: 0.25pt; LINE-HEIGHT: normal" face=verdana,sans-serif> or contact the Compliance Team.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>10. Gifts and Hospitality</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Our Employees are not allowed to accept </FONT></B><B><U><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif>anything</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif> of value (including gifts, entertainment (tickets), favors, loans, payment of meals and travel expenses, and services or special treatment of any kind) from people or organizations that do or seek to do business with the Company</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif>. This includes suppliers, service providers, customers, public officials or any other type of business partner, actual or potential, regardless of value. </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#f25b4b face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif>If you receive any gift, please send the standard thank-you letter available on the Compliance Channel. Ideally, the gift should be returned or, if not possible, forwarded to internal auction or donated to a charity institution chosen by Human Resources. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif>All gifts, entertainment or hospitality offered or given to third-parties by Employees must have a legitimate business purpose and be accurately recorded in the Company's accounting books and records. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Never take advantage of your position, or your condition as an Ambev's employee, to obtain discounts or personal benefits with customers, distributors, suppliers or public entities. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif>11. Political contributions and Mandates </FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif>In countries where political contributions are allowed, any direct or indirect contribution by Ambev to any political party, campaign committee or candidate to a public office must only be made upon prior approval from the Board of Directors of Ambev S.A.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; BACKGROUND: white; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Employees</FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.15pt; LINE-HEIGHT: normal" face=verdana,sans-serif> that wish to run for municipal, state or national elections must notify the Compliance Team about their intentions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT style="POSITION: relative; TOP: 0.5pt" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT style="POSITION: relative; TOP: 0.5pt" face=verdana,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>12. Books, Records and Controls </FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif>Transparency, ethics, and honesty must be the starting point to any procedure involving our accounting books, records and controls. The Company's financial statements, books and records must represent clearly, completely and precisely all business and operations with proper details. False, misleading, incomplete, inaccurate or artificial entries in Ambev's books and records are strictly prohibited.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif>Every business transaction must be recorded and managed according to the Company's accounting policy and no fund or asset not registered in the financial statements might be established or sustained to any purposes.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>8</FONT></FONT><FONT face=verdana,sans-serif><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif>No Employee must be involved in accounting or business records falsification. They must respond in a complete and precise manner to any question directed to them by the Company&#8217;s internal or external auditors or by any other regulatory authority. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif>Any Employee that becomes aware of any fund or asset not registered, or any kind of violation to Ambev's policy with regards to financial data and business operations must report it immediately to his/her Supervisor or to the Compliance Team.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.5in"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>12.1</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Disclosure</FONT></B></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif>As a publicly listed company, Ambev needs to send all mandatory or requested documentation by the Comiss&#227;o de Valores Imobil&#225;rios (&#8220;CVM&#8221;) or by the Securities and Exchange Commission (&#8220;SEC&#8221;) within the deadline. It is strictly forbidden to submit inaccurate or dishonest reports, inside or outside Ambev. This may result in civil and criminal damage for Employees and the Company. This includes submitting information intentionally organized in a doubtful manner. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif>Do not submit forged financial data to meet individual performance targets or operational unit targets.</FONT></P>

<P style="BACKGROUND: white; PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="BACKGROUND: white; PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>12.2 Finance Professionals: Professionalism and Credibility </FONT></B></P>

<P style="BACKGROUND: white; PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=windowtext face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=windowtext face=verdana,sans-serif>Ambev is a solid, reliable and conscientious company aware of its social and business responsibilities. We wish to demonstrate to society that we seek results in a fair, lawful and transparent way. Our finance professionals must contribute to assert our credibility in the market. They must: </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=windowtext face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=windowtext face=verdana,sans-serif>&#8226; Keep the proper professional standards in accounting and financial documentation. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=windowtext face=verdana,sans-serif>&#8226; Stay up-to-date on laws and regulations. Seek legal advice whenever necessary. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=windowtext face=verdana,sans-serif>&#8226; In their personal operations, not use any procedure or manipulation devices to affect, directly or indirectly, the transferable securities and assets quotation, inducing third parties to an error with the purpose of keeping financial advantages to themselves or others. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=windowtext face=verdana,sans-serif>&#8226; Upon detection of any kind of violation of Ambev's policies in financial data and business operations, report them immediately to the Compliance Area. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif>The leaders of the Finance Team are responsible for keeping their teams with a variety of financial and operational skills, such as internal and accounting controls, financial planning and analyses, treasury and taxes. Leaders should not pressure the accounting team regarding their accounting estimates with the intent to improperly influence financial results.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=black face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>13. Trading Manual</FONT></B></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=verdana,sans-serif>As a publicly listed company, Ambev must ensure a fair treatment to all its investors, which means that all investors should have access to the same information at the same time. The Manual of Disclosure and Use of Information and Trading Policy of Ambev ("Trading Manual") specifies the conditions to which Ambev's People and its relatives are subject when dealing with Ambev's shares.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>9</FONT></FONT><FONT face=verdana,sans-serif><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>All Employees with access to inside information (understood as information not publicly disclosed and that might have significant impact on Ambev's shares prices) as well as their family members, must observe the rules of the Trading Manual when conducting any kind of negotiation involving Ambev's shares.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif> The complete Trading Manual and more information are available at your Legal Department, as well as in the Company's website: http://ri.ambev.com.br.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Failure to comply with the Trading Manual may result in disciplinary action, including dismissal with due cause. It may also be a criminal offense and give rise to civil liability. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>14. Confidential information</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Employees access confidential information on the Company, its customers, suppliers, associates or business partners when performing their functions. Confidential information includes, among others, any information not publicly disclosed by the Company, as finance information and documents related to financial models, processes and products, software, hardware and applications developed or in use by Ambev, even if the Employee was engaged in its development. </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>The confidentiality of all information must be strictly kept even among different areas of the Company, unless its disclosure is authorized</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>In order to preserve the confidentiality you should: </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Keep safe the documents related to your activities not leaving confidential material on desks, lock your virtual desktop ("VD") if you&#180;re not using it and, at the end of your workday, lock documents in drawers or files;</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Keep absolute confidentiality on any kind of information, fact or operation involving Ambev's strategies; </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Keep secrecy on undisclosed information;</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Do not disclose any kind of unofficial information (rumors);</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Limit the discussion of related matters to the Company and the workplace. Do not speak about the Company's projects in public areas such as elevators, airplanes, restaurants or bars;</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Do not discuss strategic matters, unpublished information, or deal with confidential data via communication channels not officially approved by the Company.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Additionally, without authorization from your superior it is prohibited to: </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Withdraw internal material, including via email, from Ambev or any other company from the AB Inbev Group, including material related to operations you participated in;</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Make copies, by any means, of documents that might contain confidential information, including on customers, suppliers, products, costs, strategies and any other matter related to your work area inside the Company;</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>To give lectures, seminars or write academic works about Ambev or matters that include your work area inside the company. In these cases it is also necessary to obtain permission from your area&#180;s Vice-President.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.25in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Finally, you cannot profit from the Company's information to gain personal advantages. If you had access to confidential information, respect the Trading Manual rules.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>10</FONT></FONT><FONT face=verdana,sans-serif><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>15. Emails, Internet and information systems</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Our systems, Internet, intranet (Portal Click), emails and all data transmitted through networks and systems from the Company are its exclusive property. Under no circumstance our systems should be used to send or receive discriminatory or harassment messages, obscene material, commercial requests or any other that violates this Code of Conduct. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; BACKGROUND: white; LINE-HEIGHT: normal" face=verdana,sans-serif>Every message sent or received by these means are Ambev's property and may, if allowed by local legislation, be tracked and used to check compliance against internal laws and regulations. </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&nbsp;&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.8pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; BACKGROUND: white; LINE-HEIGHT: normal" face=verdana,sans-serif>Exercise care when using emails, as they have the same legal effect as other written communication. When using email communication, you should exercise discretion and compose statements with care, thought and precision. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Physical access to Ambev's facilities and to our systems is granted based on your position in the Company and are, therefore, personal and non-transferable. Only people who explicitly received user access and password are allowed in our facilities and systems. The information inserted, generated or modified in our systems, as well as its approvals, is the sole responsibility of the electronic user of the system. Therefore, it is prohibited to disclose, grant or share your passwords with other people, temporarily or permanently. This conduct might subject the Employee to internal disciplinary penalties due to the risk of exposure that sharing a password brings.&nbsp; </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>16. Social Media and Instant Messaging Applications</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Internet, social media and instant messaging applications changed our work manners, offering new ways to relate and communicate with Employees, business partners, clients and consumers, as well as with the world. Openness and transparency are part of our culture, therefore we encourage the exchange of ideas. However, disclosing confidential or inappropriate information on social medias may harm our brands, our Company and our Employees. Additionally, cases of discrimination, libel, defamation and slander on social medias or instant messaging applications are also against our principles. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>In accordance with our culture of owners, the following guidelines must be followed by all Employees:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Do not express opinions that may imply or be understood as official positions by Ambev. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Do not post or share, without prior authorization, images, videos or internal information of the Company that were not publicly disclosed in our own official channels, including pictures or videos of Company's documents, trainings and internal meetings, financial information, information related to processes, strategic plans, projects, goals, market projections, information of clients etc.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Do not share messages received in your corporate e-mail and that contain internal contents with people outside the Company.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Do not expose information on our clients, partners and suppliers.</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>11</FONT></FONT><FONT face=verdana,sans-serif><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&#8226; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; BACKGROUND: white; LINE-HEIGHT: normal" face=verdana,sans-serif>Do not attack or slander, individually or in group, any person, product, client, supplier, other Employee, former Employee, competitor or any other party related to the Company.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&#8226; Finally, think about what you wish to show about yourself. Take care with your personal information, as anything you post or reveal about yourself on social medias affects the Company's image and yours. Take extra consideration when the subject is related with the Company's products, public bodies or our competitors.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Common sense always comes first. Ensure that any comment of yours is consistent with your work and with the values and professional standards of our Company. Take into consideration that your profile may be viewed not only by your coworkers, but also by our clients and shareholders. By being careful you protect the Company and your personal image! </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>17. Use of Company's assets</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif> </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>All Company's assets, including our properties (information, equipment, vehicles, computers, software), resources, funds, facilities, personnel, trademarks and the Company's name, must be used solely for legitimate business purposes. The Company's assets also include your time at work and the result of your work.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>All Employees must protect the Company's assets and ensure that they are well managed and used in an efficient manner. The Company's assets should not be used for personal purposes, unless expressly authorized in a specific policy.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>18. Code of Responsible Communication </FONT></B></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>As part of the leading global brewing group, Ambev has implemented a Code of Responsible Communication aimed at ensuring that our marketing and commercial communication are responsible and do not contribute to the misuse of our products, nor are not directed to under-age or people who are not able to drink alcohol. The Code of Responsible Communication applies to all forms of commercial communication and our brand marketing activities (including advertising, sponsorship, outdoor events, promotions, website content, relationship market, consumer public relations, packaging and labeling claims for all Ambev brands) and must be used as reference for marketing and commercial communication. For more information, please contact Corporate Affairs.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>19. External communication</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>19.1</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif>&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Market</FONT></B></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Contact the Investor Relations area whenever you have a request for communication with shareholders or investors. This area is prepared to make communications in a precise, transparent and timely manner, enabling shareholders and investors to follow the Company's activities and performance. &nbsp;&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>19.2</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=Calibri,sans-serif>&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Press</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>We guide our relationship with the press with transparency and respect. In order to ensure the appropriateness of our communications with the press:</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>12</FONT></FONT><FONT face=verdana,sans-serif><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Whenever the press contacts you, transfer the call to the External Communication area, which will handle the requests according to the applicable policies.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Never provide information and/or give interviews without prior authorization from the External Communication. In addition to being prohibited by the Company's policies, inappropriate communications may cause serious damages to Ambev's name and image.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Guide your suppliers to not disclose any project carried out with the Company or that is during the implementation process. No service provider has authorization to discuss Ambev projects without prior authorization from the External Communication area and the contracting area.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Notify the External Communication area immediately when identifying an improper propagation of news or information that may affect Ambev's image.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Do not spread or share information that you know or believe to be untrue (rumors).</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0.5in; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>In the relationship with mass media and in the case of interviews focused on your personal life, do not expose the Company's name so as not to associate Ambev's image with your own opinions. &nbsp;&nbsp;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>20. Ethics Committee</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; BACKGROUND: white; LINE-HEIGHT: normal" face=verdana,sans-serif>. </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&nbsp;&nbsp;</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 0pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>The management of the Code of Conduct is responsibility of the Ethics Committee, composed by the Chief Executive Officer (CEO), Chief Financial and Investor Relations Officer, Chief People Officer, General Counsel and Corporate Affairs Executive Officer, in addition to the Chief Compliance Officer, who acts as the Committee's secretary. The Ethics Committee is responsible for ensuring that the Code is known by all Employees and business partners who have relationships with the Company, as well as ensuring its efficacy and effectiveness.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>21. Contacts</FONT></B></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>It is the responsibility of all Ambev's People to act as custodians of this Code and of the Company's Culture. </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>A true OWNER does not overlook and, in order to ensure an effective communication, Ambev makes available several communication channels for questions, suggestions and complaints.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Contact with the Compliance Team and the Ethics Committee should be done in a clear and transparent manner through the channels below.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>21.1 Compliance channel </FONT></B></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Through the Compliance Channel (link found on Ambev Portal - Intranet), Ambev's People may easily (i) ask questions on the Code of Conduct and other compliance policies; (ii) report a conflict of interest; (iii) request approval for contracts with the government; (iv) request approval to modify or create a new commercial program; (v) request approval before making a donation; (vi) have access to documents/policies of the anti-corruption and antitrust compliance programs; and (vii) ask questions related to the anti-corruption and antitrust compliance programs. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>21.2 Compliance Helpline </FONT></B></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>All Employees are encouraged to report any activity they believe is or might be a violation of the laws, regulations, to this Code of Conduct or our policies. If you become </FONT>


<FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>aware of activities that might constitute a violation, your are encouraged to report the activity:</FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 11pt" face=Calibri,sans-serif></FONT></FONT><FONT face=verdana,sans-serif><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif>13</FONT></FONT><FONT face=verdana,sans-serif><FONT style="DISPLAY: none"><FONT lang=EN-US style="FONT-SIZE: 10pt" face=verdana,sans-serif></FONT></FONT></FONT></P></DIV></DIV>

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<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 22pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&#8226; to your manager;</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 22pt; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>&#8226; to the Compliance Area of the Legal Department; or&nbsp; </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 28.35pt; TEXT-JUSTIFY: inter-ideograph; TEXT-INDENT: -7.05pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=symbol>&#183;</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>to the Compliance Helpline.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Our Compliance Helpline is available 24/7 to all our Employees, suppliers and other business partners. It enables you to CONFIDENTIALLY and, if desired, ANONYMOUSLY report any concern regarding possible breaches of our Code of Conduct or of the applicable legislation.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>It is a secure means of reporting, provided by an independent company and available anywhere in the world. You can report in your language on the phone </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>+55 0800 795 0011</FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif> or at the </FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>website www.ouvidoriaambev.com.br</FONT></B></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" color=#b22025 face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>All reports and investigations are handled and conducted confidentially.</FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>An independent company collects the reports and forwards them to the Compliance Area of the Legal Department, which oversees the handling of reports and investigates the complaints. If necessary, the complaint can be anonymously followed by the independent company via Internet. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT></B>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>No reprisals</FONT></B></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Ambev prohibits and will not tolerate any reprisal or threat of reprisal against any person reporting a possible violation of the Company's laws, regulations or policies. Likewise, any Employee who discourages or prevents someone from reporting or seeking necessary aid or assistance to report the problem will be subject to disciplinary actions. </FONT></P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><FONT lang=EN-US style="FONT-SIZE: 11pt; LETTER-SPACING: -0.3pt; LINE-HEIGHT: normal" face=verdana,sans-serif></FONT>&nbsp;</P>

<P style="BACKGROUND: white; TEXT-ALIGN: justify; MARGIN: 0in 2.45pt 0pt 0in; TEXT-JUSTIFY: inter-ideograph"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face=verdana,sans-serif>Reprisal is a violation and may be reported to our Compliance Helpline.</FONT></B></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Manual on Disclosure and Use of Information and Policy for the Trading with Securities Issued by Ambev S.A.</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Ambev S.A.&#8217;s (&#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Ambev</FONT></U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8221; or &#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Company</FONT></U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8221;) policies on relations with investors and the market in general have always been based on the principle of transparency, and the Company&#8217;s conduct is guided by the principle of full disclosure of the available information regarding its business activities. Ambev adheres at all times to the highest standards of compliance with the statutes and regulations applicable to public companies which trade their securities in Brazil and abroad.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Considering the regulations of the Brazilian Securities and Exchange Commission (&#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">CVM</FONT></U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8221;) with respect to disclosure of information to the investing public, the Board of Directors of Ambev consolidated the Company&#8217;s best practices in a Manual designed to regulate the conduct of managers, persons and legal entities who, on account of their professional relationships, may have access to inside information related to Ambev. This Manual, therefore, comprises the best practices with regards to disclosure and use of information (Part I) and to the trading with securities issued by Ambev (Part II).</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Sections I, II and III of Part I of the Manual deal with the use, communication and disclosure of material information involving the businesses and affairs of Ambev, as a result of decisions made by its management or controlling shareholders, among others, that may impact trading with the securities of Ambev in the market. These Sections define certain duties and responsibilities intended to ensure that information regarding material acts or facts receive fair treatment, either within Ambev or with respect to its transmission to market participants.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section IV of Part I of the Manual deals with the communication of information regarding trading with securities by Ambev&#8217;s managers, members of its fiscal council and of any technical or consulting bodies that may be created by provisions in its bylaws, and by any persons or entities related thereto, as well as the procedures to be followed in this regard.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Further, Section V regulates the communication and disclosure of material change in share ownership.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">In order to prevent misuse of privileged information, Part II of the Manual establishes the policy for the trading with Ambev&#8217;s securities to be followed whenever disclosure of a material act or fact is eminent, as well as during certain periods determined by the CVM Ruling No. 358/02. The restrictions imposed by such policy apply not only to the controlling shareholders and the managers of Ambev, but also to various other persons and entities who, on account of their professional relations, may have access to privileged information regarding Ambev, thus gaining advantageous position vis-&#224;-vis market investors. </FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">As permitted by CVM Ruling No. 358/02, Ambev approved a trading policy that, within the legal limits, makes the restrictions provided in such ruling more flexible. Such trading policy adopts certain mechanisms that ensure transparency of, and control </FONT>


<FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">over, trading with securities issued by Ambev, so as to avoid any possible presumption of misuse of privileged information.</FONT></P></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The persons or entities subject to the obligations and duties provided in this Manual must adhere to it by executing a Joinder Agreement.</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Any questions concerning the applicability of this Manual shall be addressed to Ambev&#8217;s Investor Relations Officer.</FONT></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Ambev S.A.</FONT></B></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></FONT><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman">3</FONT><FONT style="DISPLAY: none"><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Part I</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section I</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Purpose and</FONT></B></P>

   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Scope</FONT></B></P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="7%">

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="68%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The purpose of this Manual, whose defined terms can be found in </FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Schedule I</FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"> hereto, is to establish high standards of conduct and transparency to be obligatorily followed by the Bound Persons and the Controlling Shareholders, in order to align the Company&#8217;s internal policies with the principle of transparency and the best practices of conduct regarding the use and disclosure of Privileged Information and the trading with Securities of the Company.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The above-mentioned persons and entities are required to execute a Joinder Agreement to this Manual, in accordance with the terms of Article 16, Paragraph 1 of CVM Ruling No. 358/02, and in the form attached hereto as </FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Schedule II</FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The Company will keep at its headquarters a list of the persons and entities that have executed the Joinder Agreement, with their qualification information, position or function, address and registration number with the Brazilian Federal Taxpayers&#8217; Registry or Individual Taxpayers&#8217; Registry. Such list will available to CVM at all times.</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section II</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Principles</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">All persons subject to this Manual shall conduct themselves in keeping with the values of good faith, loyalty and accuracy, as well as to the general principles set forth herein.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

   <TD style="PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="68%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">All efforts towards market efficiency must aim at assuring that competition among investors for optimal returns be based on analysis and interpretation of disclosed information and never on the privileged access to such information.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The persons subject to this Manual must bear in mind that transparent, accurate and timely information is the main tool available to the investing public, particularly to the shareholders of the Company, for ensuring necessary equitable treatment.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The Company&#8217;s relation with participants and opinion makers of the securities market must be consistent and transparent.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The persons subject to the provisions of this Manual are obliged to ensure that disclosure of information regarding the financial standing of the Company is correct, complete and continuous, developed by the competent managers incumbent with such duties, and that such information includes data regarding changes in the equity interests such persons hold in the Company&#8217;s capital stock, as provided in this Manual and in applicable regulations.</FONT></P></TD></TR></TABLE></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section III</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Policies on Disclosure and Use of Information related to Material Act or Fact</FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">1. Obligations towards the Investor Relations Officer</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">CVM Ruling No. 358/02 created a system that assigns responsibility for the use, communication and disclosure of Material Acts or Facts related to public companies. In this regard, the Investor Relations Officer is the primary responsible for the communication and disclosure of Material Acts or Events.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">In order to ensure that the Investor Relations Officer will be able to comply with its duties, certain obligations have been created for certain persons linked to the Company, requiring them to communicate to the Investor Relations Officer any Material Act or Fact of their knowledge, so as to permit the Investor Relations Officer to take action accordingly.</FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">2. Purpose of Disclosure of Material Act or Fact</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The disclosure of a Material Act or Fact seeks to provide investors with the information they need to make investment decisions, in a timely, efficient and reasonable manner while preserving maximum symmetry with respect to the dissemination of information. This prevents persons having access to privileged information to use such information in the securities market for their own benefit or for the benefit of third parties, to the detriment of investors in general, the market or the Company itself.</FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">3. Definition of Material Act or Fact</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">A &#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Material Act or Fact</FONT></U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8221; within the meaning of Section 155, Paragraph 1, of the Brazilian Corporation Law No. 6,404/76 and Section 2 of CVM Ruling No. 358/02 is: (a) any decision by the Controlling Shareholder(s), and any resolution by the shareholders&#8217; meeting or the management bodies of the Company; or (b) any other political, administrative, technical, commercial, economic or financial act or fact occurring or relating to the business of the Company that may have a significant effect on: </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the quoted price of the Securities;</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the decision of investors to purchase, sell or hold such Securities; or</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the decision of investors to exercise any rights inherent to the holding of such Securities.</FONT></P></TD></TR></TABLE></DIV></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">4. Examples of Material Act or Fact</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section 2 of the CVM Ruling No. 358/02 provides a non-exhaustive list of examples of Material Acts or Facts, which does not need to be repeated herein. In any case, the materiality of events pertaining to a Material Act or Fact must be analyzed in the context of the normal course of business and dimensions of the Company, as well as in the context of the information previously disclosed, and not in abstract, so as to avoid trivialization of the disclosure of Material Acts or Facts to the detriment of the quality of the analysis, by the market, of the Company&#8217;s prospects.</FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">5. Internal Procedures for Communication and Disclosure of Material Act or Fact</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">All information on Material Acts or Facts of the Company will be centralized in the Investor Relations Officer, who is the person responsible for disclosure and communication of Material Acts or Facts (CVM Ruling No. 358/02, Section 3).</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The Controlling Shareholders, the Managers, the Fiscal Council, the Employees and Executives with access to Privileged Information, and the members of any Technical or Consulting Bodies of the Company who have executed the Joinder Agreement must communicate all Material Acts or Facts of their knowledge to the Investor Relations Officer, who, in the terms of this Manual, is the person responsible for its disclosure to the appropriate bodies and release to the press.</FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">6. Public Meetings with Investors and Analysts</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The meetings with class entities, investors, analysts or to a select audience either in Brazil or abroad regarding matters that may constitute Privileged Information must be attended by the Chairman or the Co-Chairmen of the Board of Directors, as the case may be, the Chief Executive Officer, or the Investor Relations Officer, or another person appointed for such purpose. Otherwise, the contents of such meetings, to the extent that it constitutes Privileged Information, shall be reported to the Investor Relations Officer, in order for such Privileged Information to be previously or simultaneously disclosed to the market.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">7. Responsibility for Omission</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The Managers, the Controlling Shareholders, the Fiscal Council Members, the Employees and Executives with access to Privileged Information, or any member of other Technical or Consulting Bodies of the Company, who have executed the Joinder Agreement and who have personal knowledge of a Material Act or Fact will be required to communicate such Material Act or Fact to the Investor Relations Officer. If after such communication (and where no decision has been made to maintain confidentiality, under the terms of Section 6 of the CVM Ruling No. 358/02) any of the foregoing persons or entities detect that the Investor Relations Officer has failed to fulfill its duty to communicate and disclose such information, they will only be released from responsibility if they promptly communicate the Material Act or Fact in question to CVM.</FONT></P></TD></TR></TABLE></DIV></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">8. When to Communicate and Disclose - Terms</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Whenever possible, disclosure of a Material Act or Fact will be made before the opening or after the closing of trading on the Stock Exchanges in Brazil or abroad, but preferably after the close of these trading sessions. If disclosure is necessary before the opening of a trading session, it should, if possible, be made at least 1 hour in advance to avoid delaying the opening of trading. In the case of incompatibility, the trading hours of the Brazilian market will prevail.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">As for the terms for communicating and disclosing information, the Investor Relations Officer shall also comply with the following:</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; communicate and disclose a Material Act or Fact occurring or relating to the Company&#8217;s business promptly after its occurrence (CVM Ruling No. 358/02, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">caput</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"> of Section 3);</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; communicate and disclose a Material Act or Fact previously or simultaneously to the entire market, through any given means of communication, including disclosure of information to the press or at meetings held with class entities, investors, analysts or to select audience in Brazil or abroad (CVM Instruction No. 358/02, Section 3, Paragraph 3); and</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; evaluate the need to request to the Brazilian and foreign Stock Exchanges, always simultaneously, the suspension of the trading with the Securities for the time required for proper dissemination of the Privileged Information, in case it is imperative that the disclosure of a Material Act or Event be made during trading hours (CVM Ruling No. 358/02, Section 5, Paragraph 2).</FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">9. Who to Communicate</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Information on a Material Act or Fact must be communicated simultaneously to:</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CVM;</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SEC; and</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the Stock Exchanges.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">10. Method of Disclosure </FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Disclosure of a Material Act or Fact involving the Company shall be made through publication in the </FONT><FONT lang=EN-US style="FONT-SIZE: 11.5pt; BACKGROUND: white" color=black face="Times New Roman">website of Valor Econ&#244;mico newspaper in the internet, that shall make available to the public, free of charge, such </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Material Act or Fact </FONT><FONT lang=EN-US style="FONT-SIZE: 11.5pt; BACKGROUND: white" color=black face="Times New Roman">in its entirety at &#8220;www.valor.com.br/fatosrelevantes" &#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 11.5pt; BACKGROUND: white" color=blue face="Times New Roman">www.valor.com.br/fatosrelevantes</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11.5pt; BACKGROUND: white" color=black face="Times New Roman">&#8221; (CVM Ruling No. 358/02, Section 3, Paragraph 4, II).</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The Material Act or Fact </FONT><FONT lang=EN-US style="FONT-SIZE: 11.5pt; BACKGROUND: white" color=black face="Times New Roman">shall also be disclosed at the Company&#180;s investors&#8217; relations website &#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 11.5pt; BACKGROUND: white" color=blue face="Times New Roman">http://ri.ambev.com.br&#8221;</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11.5pt; BACKGROUND: white" color=black face="Times New Roman">, through the CVM&#8217;s electronic system available at its website &#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 11.5pt; BACKGROUND: white" color=blue face="Times New Roman">http://www.cvm.gov.br&#8221;</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11.5pt" color=black face="Times New Roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 11.5pt; BACKGROUND: white" color=black face="Times New Roman">and stock exchanges where securities issued by the Company are traded.</FONT></P>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11.5pt" color=black face="Times New Roman"></FONT>&nbsp;</P>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11.5pt; BACKGROUND: white" color=black face="Times New Roman">The Investor Relations Officer may&nbsp;determine the additional disclosure of the </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Material Act or Fact </FONT><FONT lang=EN-US style="FONT-SIZE: 11.5pt; BACKGROUND: white" color=black face="Times New Roman">through publication in newspapers of wide-circulation normally used by the Company. Such publication may be made in summary form, provided that it indicates the addresses on the internet where the complete information is available to all investors, </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">at least to the same extent as disclosed to CVM, the Stock Exchanges and SEC.</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">11. Privileged Information and Confidentiality Duty </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The Controlling Shareholders, the Managers, the Fiscal Council Members, the Employees and Executives with access to Privileged Information, or any member of other Technical or Consulting Bodies of the Company, as well as persons who have executed the Joinder Agreement by virtue of their title, function or position within the Controlling Person, the Controlled Companies and the Affiliated Companies will have the duty to (i) maintain confidential the information related to a Material Act or Fact to which they have had privileged access, up until its disclosure to the market, and (ii) see that their subordinates and relying third parties act likewise, being jointly and severally responsible, with such persons, for any breach of the confidentiality duty (CVM Ruling No. 358/02, Section 8).</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">For guidance purposes, in case of doubt as to the relevance of any Privileged Information, the Investor Relations Officer shall be contacted to clarify any doubts.</FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">12. Nondisclosure as Exception to the Rule</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The general rule regarding Material Acts or Facts is that they must be promptly communicated and disclosed. In any case, not communicating and disclosing a Material Act or Fact constitutes an exception that shall be subject to specific analysis (CVM Ruling No. 358/02, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">caput</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"> of Section 6).</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">However, there are exceptional cases where indistinct disclosure of Privileged Information constituting a Material Act or Fact could jeopardize the Company&#8217;s legitimate interest.</FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">13. Procedures in Case of Nondisclosure of a Material Act or Fact by the Company</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">In such cases, nondisclosure of a Material Act or Fact related to the Company will be subject to the decision of the Controlling Shareholders or the Managers of the Company, as a case may be (CVM Ruling No. 358/02, </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">caput</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"> of Section 6).</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Should the Material Act or Fact in question relate to transactions that directly involve the Controlling Shareholders and such Controlling Shareholders decide not to disclose it, then they shall inform the Company&#8217;s Investor Relations Officer of such decision.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Even when the Managers and the Controlling Shareholders have made a decision not to disclose a Material Act or Fact, they will be required to promptly disclose such Material Act or Fact, either directly or through the Investor Relations Officer, if they lose control over the information or in case of unusual fluctuations of the quotes, prices or trading amounts of the Securities of the Company (CVM Ruling No. 358/02, Section 6, Sole Paragraph).</FONT></P></TD></TR></TABLE></DIV></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">14. Request to CVM to Maintain in Confidence</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The Managers and the Controlling Shareholders may submit to CVM their exceptional decision to maintain confidential a Material Act or Fact that, if disclosed, would in their judgment pose a manifest risk to the legitimate interests of the Company (CVM Ruling No. 358/02, Section 7).</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section IV</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Procedures for Communication of Information on </FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Trading by Managers and Related Persons</FONT></B></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The procedures for communication of information on trading with the Company&#8217;s Securities provided in this Section are based on Section 11 of CVM Ruling No. 358/02.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The Managers, the Fiscal Council Members and the members of Technical or Consulting Bodies of the Company will be required to communicate the ownership of the securities of the Company, or of its Controlling Persons or Controlled Companies, in the latter two cases only if regarding public companies - or derivatives or any other securities referenced to them - whether held by them, directly, or by Related Persons, as well as any changes in such holdings.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Such communication will be made as per the model found in Schedule III and forwarded to the Company&#8217;s Investor Relations Officer, and by the latter to the CVM and the Stock Exchanges, as per CVM stipulations. The information required by the provisions on trading made by the Company itself, its controlled and affiliated companies must also be forwarded.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Such communication to the Company must be made (i) in the first business day immediately after their investiture in office, and (ii) within no more than five (5) days after each trading.</FONT></P></TD></TR>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></FONT><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman">9</FONT><FONT style="DISPLAY: none"><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section V</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Procedures for Communication and Disclosure of </FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Purchase or Sale of Material Ownership Interest</FONT></B></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The procedures for communication and disclosure of information on trading with Securities of the Company involving a material ownership interest, as provided in this Section, are based on Section 12 of CVM Ruling No. 358/02.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">A material trade or series of trades refers to those through which the direct or indirect ownership interest of persons subject to the obligation is above or below the levels of five percent (5%), ten percent (10%), fifteen percent (15%) and so on successively, for a given type or class of shares representing the Company's share capital, including, pursuant to the rules for calculation stipulated in the provision, derivatives referenced to these shares and the acquisition of rights on these securities</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The direct or indirect Controlling Shareholders as well as the shareholders who elect members to the Board of Directors or the Fiscal Council of the Company, as well as any natural or legal person or group of persons acting jointly or representing the same interest, must notify the Company - immediately on reaching the abovementioned levels of ownership interest - the details of material trades carried out, as required by the CVM, using the model in Schedule IV, and the Investor Relations Officer shall transmit them to the CVM and to the Stock Exchanges if applicable, and shall update the corresponding field of the Company's Reference Form. </FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">If there is an alteration or intention to alter the corporate control or the management structure of the Company, or in case of a purchase that gives rise to a tender offer obligation, the purchaser shall also disclose the information referred to in items I to VI of the </FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">caput</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"> of Section 12 of CVM Ruling No. 358/02, doing so through the channels referred to in subsection 10 above. </FONT></P></TD></TR>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Part II</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section I</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Policy on Trading with the Company&#8217;s Securities </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">CVM Ruling No. 358/02 provides restrictions on trading with securities issued by public companies applicable to certain persons and in certain specific situations.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The same ruling allows public companies to adopt trading policies for their securities that enable the use of Individual Investment Plans which - as long as they comply with regulatory requirements - avoid any presumption of misuse of Privileged Information. This Section of the Manual establishes trading policy and rules for Securities of the Company, including (i) trading restrictions and the corresponding exceptions stipulated in CVM Ruling No. 358/02, and (ii) Individual Investment Plans. </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">1. Trading through Accredited Brokers and Black-Out Periods</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">In order to ensure that appropriate standards will be observed when trading with Securities of the Company and of the publicly-held Controlled Companies, a system is hereby adopted whereby all such trading by the Company itself and the persons required to adhere to this Manual will be conducted through Accredited Brokers only.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The Company, its Managers, its Fiscal Council Members, the Employees and Executives with access to Material Information, and the members of other Technical or Consulting Bodies of the Company who have executed the Joinder Agreement shall refrain from directly or indirectly trading their shares during all periods determined as a non-trading period (each a &#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Black-Out Period</FONT></U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8221;) by the Investor Relations Officer, through the issuance of a communication in such regard. The Investor Relations Officer will not be required to provide a reason for its decision to determine a Black-Out Period, which shall be maintained confidential by the recipients.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The same obligations apply to the direct or indirect Controlling Shareholders, the Controlled Companies and those persons who, by virtue of their title, function or position within the Controlling Person, the Controlled Companies and the Affiliated Companies, have knowledge of information regarding Material Acts or Facts involving the Company, and that have executed the Joinder Agreement. </FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">2. Restriction to Trading in the Eminence of a Material Act or Fact </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Save the exceptions stipulated in this Trading Policy, Controlling Shareholders and Related Persons are prohibited from trading in the Company&#8217;s Securities:</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; before a Material Act or Fact occurring in the Company&#8217;s business is disclosed to the market. This prohibition also applies to:</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">a) any person who knows of information related to the Company's Material Fact and knows that this information has not yet been disclosed to the market, especially those who are party to commercial, professional or confidential relations with the Company, such as independent auditors, stock analysts, consultants and securities distribution system member institutions; and</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">b) former managers, when leaving their Company management positions prior to disclosure of Material Acts or Facts originated during their term of office, until: (i) six (6) months after the date of their leaving; or (ii) the Material Fact's public disclosure.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; whenever an option or proxy for the purchase or sale of shares of the capital stock of the Company, by the Company itself or its Controlled Companies, Affiliated Companies or another company under common control is in effect or has been granted; and</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; whenever there is an intention to carry out a merger, full or partial spin-off, consolidation, transformation into other company type, or material corporate reorganization.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The restriction referred to in item (ii) above will apply to transactions involving shares of the Company made by the direct or indirect Controlling Shareholders and the Bound Persons, exclusively on the dates on which the Company itself trades or informs the Accredited Brokers that it will trade with shares of its capital stock. In this regard, the Accredited Brokers are directed by the Investor Relations Officer of the Company not to record trading made on such dates.</FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">3. Exceptions to General Restrictions on Trading with Securities</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The prohibition mentioned above in subsection 2, item (i) shall not apply to private transactions in treasury shares related to the exercise of stock options under a stock option plan approved by a shareholders&#8217; meeting of the Company, or to grants of stock to members of management, employees, or service providers as part of compensation previously approved by a shareholders&#8217; meeting. </FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;The trading restrictions stipulated in items (i), (ii) and (iii) of subsection 2 above shall not apply to the Controlling Shareholders and Related Persons for Individual Investment Plans covered by subsection 6 below, nor shall the restriction stipulated in subsection 5 below be applicable if the additional requirements described therein are fulfilled.</FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">4. Restrictions on Trading after Disclosure of Material Act or Fact</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">In the cases mentioned in the above subsection 2, items (i) and (iii), a prohibition on trading will remain in place even after disclosure of a Material Act or Fact, whenever such trading may, in the judgment of the Company, interfere with the conditions of transactions involving the Company&#8217;s shares, so as to result in losses to the Company itself or to its shareholders (CVM Ruling No. 358/02, Section 13, Paragraph 5), such additional restriction to be communicated by the Investor Relations Officer.</FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">5. Prohibition on Trading during the Period Preceding the Disclosure of Quarterly or Annual Financial Statements </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The Company, its Controlling Shareholders and the Bound Persons may not trade with Securities of the Company during the fifteen (15) day period preceding disclosure or publication, as the case may be, of:</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the quarterly information of the Company (ITR); and</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 37.15pt; TEXT-INDENT: -37.15pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the standardized financial statements of the Company (DFP).</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The same restriction applies to the period of fifteen (15) days preceding any early disclosure of financial information.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The Accredited Brokers will be directed by the Company, and will acknowledge in writing such direction, not to record transactions carried out by the foregoing persons and entities during the 15-day period preceding disclosure or publication of such periodical information or financial statements of the Company.</FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">6. Individual Investment Plans </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;As mentioned in subsection 3 above, Individual Investment Plans may allow Related Persons and Controlling Shareholders to trade the Company's shares during the prohibited periods stipulated in subsection 2, items (i), (ii) and (iii) above, provided that</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(i) they are formally notified in writing to the Investor Relations Officer prior to any trading; </FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(ii) they irrevocably and irreversibly determine the dates and amounts of trades to be made by the participants; they are allowed to use of algorithms and formulas which, once applied to a specific case, determine whether the trades will be made or not and, if they will be made, on which dates and which financial amounts will be involved;</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(iii) stipulate a minimum period of six (6) months for the plan itself, or any alterations or its cancellation to produce effect.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(iv) there is not more than one investment plan simultaneously in effect; and</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(v) no trades are made that annul or mitigate the economic effects of transaction to be determined by the investment plan.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">In addition, Individual Investment Plans may allow Related Parties and Controlling Shareholders to trade the Company's shares during the periods stipulated in subsection 5 above, provided that, in addition to the above requirements:</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(i) the Company has approved a schedule determining the specific dates for disclosure of the ITR and DFP forms; and</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(ii) it requires its participants to revert to the Company any losses avoided or gains made from trading Company shares arising from any changes to the dates of disclosure of the ITR and DFP forms, ascertained according to reasonable criteria specified in the Plan.</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">At six-month intervals or more often, the Company&#8217;s Board of Directors shall verify that trades made by participants adhere to the investment plans formalized by them, in cases where these plans are used to allow trading during a prohibited trading period, subject to the other requirements described in this subsection.</FONT></P></TD></TR></TABLE></DIV></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></FONT><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman">13</FONT><FONT style="DISPLAY: none"><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">7. Prohibition on Resolution relative to the Purchase or Sale of Shares issued by the Company itself (CVM Ruling No. 358/02, Section 14)</FONT></B></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The Board of Directors of the Company may not approve a purchase or sale of shares of the capital stock of the Company before the following information has been made public by way of publication of a Material Act or Fact:</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; execution of any agreement or contract for the purpose of transferring the controlling interest of the Company; or</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; granting of an option or proxy for the purpose of transferring the controlling interest of the Company; or</FONT></P>

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; intention to carry out a merger, full or partial spin-off, consolidation, transformation into another company type, or corporate reorganization.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">If a fact falling within any of the three aforementioned situations occurs after the approval of a plan for the repurchase of its own shares, the Company will immediately suspend transactions involving its shares until disclosure of the respective Material Act or Fact.</FONT></P></TD></TR></TABLE></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Trading Subject to Prior Authorization</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Notwithstanding anything herein contained, trading with Securities of the Company by the Bound Persons shall be previously authorized by the Investor Relations Officer and the General Counsel of the Company.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Requests for such trading shall be made in writing, through a physical or electronic medium, with the indication of the intended transaction and the amount and type of Securities to be traded.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">In the event the Investor Relations Officer or the General Counsel themselves request authorization to trade with Securities of the Company, the Chairman of the Board of Directors of the Company will replace the requesting officer in the granting of such authorization.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Within forty-eight (48) hours after receipt of a request to trade, the Investor Relations Officer of the Company shall communicate, in writing, to the person so requesting its decision to allow or prohibit the trade. Failure to respond to a request within five (5) business days as of its receipt will be deemed as prohibition of the transaction object of the request in question. If authorized, the respective trade must be completed within no more than five (5) business days as of the receipt of the communication delivered by the Investor Relations Officer of the Company.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The Company shall keep a record of all correspondence involving requests submitted and decisions made in connection therewith, for a period of five (5) years as of receipt of each request to trade.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Observance of the procedures described in this Section will be waived for trades in Company shares made in compliance with Individual Investment Plans stipulated in subsection 6 above that are used to allow trading during prohibited periods.</FONT></P></TD></TR></TABLE></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section II</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Final Provisions</FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">1. Direct and Indirect Trading</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The prohibitions on trading and requirements concerning notifications set forth in this Manual apply to trades carried out either directly or indirectly by the Controlling Shareholders and the Bound Persons, even when the trades by such persons or entities are conducted through:</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a company controlled by them;</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; third parties with whom a fiduciary agreement or a portfolio or stock management agreement has been entered into.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Trading made by an investment fund of which the aforementioned person or entity is a quotaholder will not be deemed an indirect trading, provided that:</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the investment funds are not exclusive; and</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 35.4pt; TEXT-INDENT: -35.4pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the decisions to trade made by the manager of the investment fund cannot be influenced by the quotaholders.</FONT></P></TD></TR></TABLE></DIV></DIV>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">2. Responsibility of the Investor Relations Officer to monitor the policies </FONT></B></P>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The Investor Relations Officer of the Company will be responsible for enforcing and monitoring the policies on (i) disclosure and use of information, (ii) trading with the Company&#8217;s securities, and (iii) the Individual Investment Plans.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">3. Amendment to the Manual</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">This Manual was approved by the Board of Directors of the Company on March 1st, 2013, and amendments to this Manual were approved by the Board of Directors of the Company on August 27th, 2014 and [March 28th, 2016]. Any new amendment to or revision shall be submitted to the Board of Directors of the Company and notified to the CVM and the Stock Exchanges together with a copy of the resolution and the full contents of the documents that govern the Manual and are part of it.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">4. Liability of Third Parties </FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The provisions of this Manual will not rebut liability, under applicable rules and regulations, of third parties that are not directly linked to the Company but have knowledge of a Material Act or Fact and come to trade with Securities issued by the Company.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">5. Penalties</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Without prejudice to other penalties provided by law, failure to comply with the provisions of this Manual will subject the offender to disciplinary sanctions in accordance with the internal regulations of the Company, including, without limitation, as the case may be: (i) warning, suspension or dismissal with cause, in accordance with the gravity of the offense; and (ii) termination of the agreement executed with the Company, provided, further, that the Company will be entitled to demand, in any case and only if dully owed, full indemnification for any losses eventually sustained by the Company, arising, either directly or indirectly, from such failure to comply.</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P><FONT lang=EN-US style="FONT-SIZE: 12pt" face="times new roman"><BR clear=all></FONT></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></FONT><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman">16</FONT><FONT style="DISPLAY: none"><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Manual on Disclosure and Use of Information and Policy for the Trading with Securities Issued by Ambev S.A.</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Index</FONT></U></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt; TEXT-DECORATION: none" face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Part I</FONT></U></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section I - Purpose and Scope</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section II &#8211; Principles</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section III - Policies on Disclosure and Use of Information related to Material Act or Fact</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">1. Obligations towards the Investor Relations Officer</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">2. Purpose of Disclosure of Material Act or Fact</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">3. Definition of Material Act or Fact</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">4. Examples of Material Act or Fact</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">5. Internal Procedures for Communication and Disclosure of Material Act or Fact</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">6. Public Meetings with Investors and Analysts</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">7. Responsibility for Omission</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">8. When to Communicate and Disclose - Terms</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">9. Who to Communicate</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">10. Method of Disclosure </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">11. Privileged Information and Confidentiality Duty </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">12. Nondisclosure as Exception to the Rule</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">13. Procedures in Case of Nondisclosure of a Material Act or Fact by the Company</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">14. Request to CVM to Maintain in Confidence</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section IV </FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">- </FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Procedures for Communication of Information on Trading by Managers and Related Persons</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section V -</FONT></B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"> </FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Procedures for Communication and Disclosure of Purchase or Sale of Material Ownership Interest</FONT></B></P>

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<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Part II</FONT></B></P></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></FONT><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman">17</FONT><FONT style="DISPLAY: none"><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section I - Policy on Trading with the Company&#8217;s Securities </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">1. Trading through Accredited Brokers and Black-Out Periods</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">2. Restriction to Trading in the Eminence of a Material Act or Fact </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">3. Exceptions to General Restrictions on Trading with Securities</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">4. Restriction on Trading after Disclosure of Material Act or Fact</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">5. Prohibition on Trading during the Period Preceding the Disclosure of Quarterly or Annual Financial Statement Information</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">6. Individual Investment Plans </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">7. Prohibition on Resolution relative to the Purchase or Sale of Shares issued by the Company itself</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">8. Trading Subject to Prior Authorization</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Section II &#8211; Final Provisions</FONT></B></P>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">1. Direct and Indirect Trading</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">2. Responsibility of the Investor Relations Officer to monitor policies</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">3. Amendment to the Manual</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">4. Liability of Third Parties </FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">6. Penalties</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Schedules</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Index</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Schedule I</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Schedule II</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Schedule III</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Schedule IV</FONT></P><FONT lang=EN-US style="FONT-SIZE: 12pt" face="times new roman"><BR clear=all></FONT></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></FONT><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman">18</FONT><FONT style="DISPLAY: none"><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Schedule I &#8211; Definitions</FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Definitions</FONT></B></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The terms and expressions listed below will have the following meanings when used in this Manual:</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Accredited Brokers&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">the securities brokers accredited by the Company to trade its Securities on behalf of the persons subject to this Manual.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Affiliated Companies&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">the companies in which the Company holds a substantial interest (article 243, paragraph 1, of Brazilian Corporation Law) </FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Bound Persons&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">(i) the Managers, the Fiscal Council Members and the members of other Technical or Consulting Bodies of the Company; (ii) the Controller and Tax Department; the Legal Department, the Manager and other employees of the Treasury Department; the Manager and other employees of the Investor Relations Department; the Manager and other employees of the Mergers and Acquisitions Department; the Manager of New Businesses; and the Internal Audit Department; (iii) the Employees and Executives with access to Material Information; (iv) any person who, by virtue of its title, function or position within the Controlling Person, the Controlled Companies and the Affiliated Companies has knowledge of information related to a Material Act or Fact with respect to the Company; and (v) the Related Persons.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Company&#8221; or &#8220;Ambev&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Ambev S.A.</FONT></P></TD></TR>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Controlled Companies&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">the companies in which the Company holds, either directly or through other subsidiaries, an ownership interest that entitles the Company to prevail in corporate resolutions, on a permanent basis, and that confers to the Company the power to elect the majority of its managers.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Controlling Shareholders&#8221; or &#8220;Controlling Person&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">the shareholder or group of shareholders bound by a shareholders&#8217; agreement or under common control that exercise the controlling power over Ambev, in accordance with the terms of Law No. 6,404/76, as amended.</FONT></P></TD></TR></TABLE></DIV></DIV>

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<P style="TEXT-ALIGN: right; MARGIN: 0in 0in 0pt" align=right><FONT style="DISPLAY: none"><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></FONT><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman">18</FONT><FONT style="DISPLAY: none"><FONT lang=X-NONE style="FONT-SIZE: 10pt" face="Times New Roman"></FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Schedule I &#8211; Definitions</FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;CVM Ruling No. 358/02&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">CVM Ruling No. 358, dated January 3, 2002, as amended up to the date of approval of this Manual, regarding disclosure and use of information related to Material Acts or Facts with respect to public companies, as well as the trading of securities of public companies in the eminence of a material fact still undisclosed to the market, among other matters.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;CVM&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">the Brazilian Securities and Exchange Commission.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Employees and Executives with access to Material Information&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">the employees and executives of the Company who have access to any Privileged Information on account of their title, function or position in the Company.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Ex-managers&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">former executive officers and former directors that have withdrawn from the management of the Company.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Fiscal Council Members &#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">the members of the Fiscal Council of the Company, whether sitting or alternate, elected by the Shareholders&#8217; Meeting.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Investor Relations Officer&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">the executive officer of the Company responsible for providing information to the investing public, CVM, SEC, as the case may be, and the Stock Exchange or entities of the organized over-the-counter market, as well as for updating the Company&#8217;s registration.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Joinder Agreement&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">a joinder agreement to this Manual, required to be executed pursuant to and Section 16, Paragraph 1 of CVM Ruling No. 358/02.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Brazilian Corporation Law&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Law No. 6404/76, dated December 15, 1976, as amended.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Managers&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">The sitting and alternate executive officers and the directors of Ambev.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Manual&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">this Manual on Disclosure and Use of Information and Policy for the Trading with Securities.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Privileged Information&#8221; or &#8220;Material Information&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">all material information related to the Company that may have a significant impact on the quoted prices of the Securities that is still undisclosed to the investing public.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Related Persons&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">the persons having the following ties with the executive officers, directors, Fiscal Council Members and members of the Technical or Consulting Bodies of the Company: (i) a spouse, not legally separated from; (ii) a partner (</FONT><I><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">companheiro em uni&#227;o est&#225;vel</FONT></I><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">); (iii) any dependent reported in the annual income tax return; and (iv) the companies directly or indirectly controlled by the managers and similar persons, or by Related Persons.</FONT></P></TD></TR></TABLE></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Schedule I &#8211; Definitions</FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;SEC&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">the Securities and Exchange Commission.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Securities&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">the term &#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Securities</FONT></U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8221;, as used in this Manual, covers shares, debentures, warrants, subscription receipts and rights, promissory notes, put or call options, and indices and derivatives of any kind whatsoever, or any other collective investment instruments or agreements issued by the Company or referenced to them, that are legally deemed as securities.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Stock Exchange&#8221;</FONT></P></TD>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">the stock exchanges or over-the-counter markets on which the securities issued by Ambev are traded, whether in Brazil or abroad.</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8220;Technical or Consulting Bodies&#8221;</FONT></P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0in 58.15pt 0pt 0in" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT></B>&nbsp;</P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="63%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">the bodies of the Company created by provisions of its bylaws or by the Board of Directors, and entrusted with technical duties or for serving as consultants to its managers.</FONT></P></TD></TR></TABLE></DIV></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Schedule II - Joinder Agreement</FONT></B></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">to the Manual on Disclosure and Use of Information and Policy for the Trading with Securities Ambev S.A.</FONT></B></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">By this instrument, [insert name and identification details], residing and domiciled at [address], registered with the [Individual Taxpayers&#8217; Registry] under No. [insert number] and bearer of Identification Card [indicate whether an RG or RNE] No. [insert number and issuing agency] (&#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Declarer</FONT></U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8221;) in [his/her] capacity as [indicate title, function or relationship with the company] of [company], a corporation headquartered at [insert address], registered with the Brazilian Federal Taxpayers&#8217; Registry (CNPJ) under No. [insert CNPJ] (&#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Company</FONT></U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8221;), hereby declares to have full knowledge of the rules set forth in the Manual on Disclosure and Use of Information and Policy for the Trading with Securities by Ambev S.A. (the &#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Manual</FONT></U><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&#8221;), a copy of which [he/she] has received, and which regulates the internal policies regarding the use and disclosure of Material Information and trading with securities issued by the Company, and hereby undertakes to conduct [himself/herself] at all times in compliance with such rules. The Declarer executes this Joinder Agreement in three (3) counterparts of like form and substance, in the presence of the two (2) undersigned witnesses.</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">[insert place and date of execution]</FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">[insert name of Declarer]</FONT></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">1.</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">CPF:</FONT></P></TD></TR></TABLE></DIV>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp;Schedule III</FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Trading in Securities of the Company or Publicly Listed Companies that control it or are controlled by it:</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Period: [month/year]</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Identification Details</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">CNPJ/CPF</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Date of Trade</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Issuing Company</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Type of trade and form of acquisition or disposal</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Type of Security </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Total Amount</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Amount by Type or Class (shares)</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Characteristics (other securities) </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Price</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Broker Used</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Position before trading</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Other Material Information</FONT></P></TD>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Schedule IV</FONT></B></P>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Purchase or Sale of Material Ownership Interest</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Period: [month/year]</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Name of Purchaser/Seller</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Identification Details</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">CNPJ/CPF</FONT></P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Date of Trade</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Issuing Company</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Type of Transaction </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Type of Security </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Intended Amount</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Amount per Type or Class </FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Price</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Broker Used</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="56%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

<TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Purpose of Interest</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Number of shares and other securities and derivatives referenced to these shares for physical or financial settlement, specifying quantity and class</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="56%" colSpan=2>

   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Indication of any agreement or contract regulating the exercise of voting rights or purchase and sale of securities issued by the Company</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Other Material Information</FONT></P></TD>

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   <P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD></TR>

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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">thn/115466.doc</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">3/24/16</FONT></P></DIV>

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<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>5
<FILENAME>exhibit12_1.htm
<DESCRIPTION>EX-12.1
<TEXT>

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<P style="MARGIN: 0cm 0cm 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 0cm 0cm 0pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Exhibit 12.1</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 12pt 0cm 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">PRINCIPAL EXECUTIVE OFFICER CERTIFICATION</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">I, Bernardo Pinto Paiva, certify that:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; I have reviewed this annual report on Form 20-F of Ambev S.A. (the &#8220;Company&#8221;);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this report;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Company and have:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Evaluated the effectiveness of the Company&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disclosed in this report any change in the Company&#8217;s internal control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the Company&#8217;s internal control over financial reporting; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company&#8217;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Company&#8217;s auditors and the audit committee of Company&#8217;s Board of Directors (or persons performing the equivalent functions):</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company&#8217;s ability to record, process, summarize and report financial information; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any fraud, whether or not material, that involves management or other employees who have a significant role in the Company&#8217;s internal control over financial reporting.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Date: March 19, 2018.</FONT></P>

<P style="MARGIN: 0cm 0cm 0cm 216pt"><U><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">/s/ Bernardo Pinto Paiva&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></P>

<P style="MARGIN: 0cm 0cm 0cm 216pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Name: Bernardo Pinto Paiva</FONT></P>

<P style="MARGIN: 0cm 0cm 0cm 216pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Title:&nbsp;&nbsp;&nbsp; Chief Executive Officer</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" face="Times New Roman"></FONT>&nbsp;</P></DIV>

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<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>6
<FILENAME>exhibit12_2.htm
<DESCRIPTION>EX-12.2
<TEXT>

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&nbsp; <A name="page_1"></A>

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<P style="TEXT-ALIGN: right; MARGIN: 12pt 0cm 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Exhibit 12.2</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 12pt 0cm 0cm" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">PRINCIPAL FINANCIAL OFFICER CERTIFICATION</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">I, Ricardo Rittes de Oliveira Silva, certify that:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; I have reviewed this annual report on Form 20-F of Ambev S.A. (the &#8220;Company&#8221;);</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this report;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Company and have:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Evaluated the effectiveness of the Company&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Disclosed in this report any change in the Company&#8217;s internal control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect, the Company&#8217;s internal control over financial reporting; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company&#8217;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Company&#8217;s auditors and the audit committee of Company&#8217;s Board of Directors (or persons performing the equivalent functions):</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company&#8217;s ability to record, process, summarize and report financial information; and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any fraud, whether or not material, that involves management or other employees who have a significant role in the Company&#8217;s internal control over financial reporting.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Date: March 19, 2018.</FONT></P>

<P style="MARGIN: 0cm 0cm 0cm 216pt"><U><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">/s/ Ricardo Rittes de Oliveira Silva&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></P>

<P style="MARGIN: 0cm 0cm 0cm 216pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Name: Ricardo Rittes de Oliveira Silva</FONT></P>

<P style="MARGIN: 0cm 0cm 0cm 216pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Title:&nbsp;&nbsp;&nbsp; Chief Financial Officer</FONT></P></DIV>

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<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>7
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<DESCRIPTION>EX-13.1
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<a name="_bclPageBorder1"></a><DIV style="PADDING-LEFT: 0%; PADDING-RIGHT: 0%">

<P style="MARGIN: 0cm 0cm 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: right; MARGIN: 12pt 0cm 0cm" align=right><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Exhibit 13.1</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 12pt 0cm 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Certification of the Principal Executive Officer<BR>Pursuant to 18 U.S.C. Section&nbsp;1350,<BR>As Adopted Pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In connection with the annual report of Ambev S.A. (the &#8220;Company&#8221;) on Form 20-F for the year ended December 31, 2017, as filed with the Securities and Exchange Commission on the date hereof, or the Report, I, Bernardo Pinto Paiva, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. &#167; 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Report fully complies with the requirements of Section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d)); and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Date: March 19, 2018.</FONT></P>

<P style="MARGIN: 0cm 0cm 0cm 216pt"><U><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">/s/ Bernardo Pinto Paiva&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></P>

<P style="MARGIN: 0cm 0cm 0cm 216pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Name: Bernardo Pinto Paiva</FONT></P>

<P style="MARGIN: 0cm 0cm 0cm 216pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Title:&nbsp;&nbsp;&nbsp; Chief Executive Officer</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.</FONT></P>

<P style="MARGIN: 0cm 0cm 10pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif></FONT>&nbsp;</P></DIV>

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<DOCUMENT>
<TYPE>EX-13.2
<SEQUENCE>8
<FILENAME>exhibit13_2.htm
<DESCRIPTION>EX-13.2
<TEXT>

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<P style="MARGIN: 0cm 0cm 10pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: 115%" face=Calibri,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Exhibit 13.2</FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 12pt 0cm 0cm"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Certification of the Principal Financial Officer<BR>Pursuant to 18 U.S.C. Section&nbsp;1350,<BR>As Adopted Pursuant to Section&nbsp;906 of the Sarbanes - Oxley Act of 2002</FONT></B></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm; TEXT-INDENT: 36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">In connection with the annual report of Ambev S.A. (the Company) on Form 20&#8211;F for the year ended December 31, 2017, as filed with the Securities and Exchange Commission on the date hereof, or the Report, I, Ricardo Rittes de Oliveira Silva, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. &#167; 1350, as adopted pursuant to Section 906 of the Sarbanes&#8211;Oxley Act of 2002, that:</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Report fully complies with the requirements of Section&nbsp;13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m(a) or 78o(d)); and</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm 72pt; TEXT-INDENT: -36pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Date: March 19, 2018.</FONT></P>

<P style="MARGIN: 0cm 0cm 0cm 216pt"><U><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">/s/ Ricardo Rittes de Oliveira Silva&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></U></P>

<P style="MARGIN: 0cm 0cm 0cm 216pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman">Name: Ricardo Rittes de Oliveira Silva</FONT></P>

<P style="MARGIN: 0cm 0cm 0cm 216pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Title:&nbsp;&nbsp;&nbsp; Chief Financial Officer</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 12pt 0cm 0cm"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">A signed original of this written statement required by Section&nbsp;906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.</FONT></P>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

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  <abev:DescriptionOfAccountingPolicyForNewIFRSRelasesTextBlock contextRef="d_2017-01-01_2017-12-31" id="c28292567">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(b)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Recently issued IFRS&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The reporting standards below were published and are mandatory for future annual reporting periods. Although IFRSs anticipate early adoption, in Brazil, regulators have prevented this anticipation in order to preserve aspects of comparability. Accordingly, for the year ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;these standards were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; applied in the preparation of these financial statements:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 175; Value: 1 --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9&lt;/div&gt; - Financial Instruments&lt;/div&gt; (effective from annual periods beginning on or after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2018), &lt;/div&gt;which will replace IAS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39,&lt;/div&gt; introduces a logical approach for the classification of financial assets, which is driven by cash flow characteristics and the business model in which an asset is held; defines a new expected-loss impairment model that will require more effective recognition; and introduces a substantially-reformed model for hedge accounting, with enhanced disclosures about risk management activity. The new hedge accounting model represents a significant overhaul of the policies and aligns the accounting treatment with risk management activities. IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9&lt;/div&gt; also removes the volatility in profit or loss that was caused by changes in the credit risk of liabilities elected to be measured at fair value. The company evaluated the possible impacts arising from the application of IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9&lt;/div&gt; and does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; identify a significant impact on its financial position and/or its financial performance.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15&lt;/div&gt; - Revenue from Contracts with Customers&lt;/div&gt; (effective from annual periods beginning on or after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2018) &lt;/div&gt;requires revenue recognition to depict the transfer of goods or services to customers in amounts that reflect the consideration (that is, payment) to which the Company expects to be entitled in exchange for those goods or services. The new standard will also result in more and enhanced disclosures about revenue, provide guidance for transactions that were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; previously addressed comprehensively (for example, service revenue and contract modifications) and improve guidance for multiple-element arrangements. In view of the Ambev&amp;#x2019;s activities, the company does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; identify that the application of IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15&lt;/div&gt; will have a significant impact on its financial position and/or its financial performance.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16&lt;/div&gt; &amp;#x2013; Leases&lt;/div&gt; (effective from annual periods beginning on or after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2019) &lt;/div&gt;replaces the existing lease accounting requirements and represents a significant change in the accounting and reporting of leases that were previously classified as operating leases, with more assets and liabilities to be reported on the balance sheet and a different recognition of lease costs.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The company is in process of assessing the full impact of IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16&lt;/div&gt; and expects changes in the presentation of operating leases in the balance sheet.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Other Standards, Interpretations and Amendments to Standards &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The other amendments to standards effective for annual periods beginning after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2017, &lt;/div&gt;have &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; been listed above because of either their non-applicability to or their immateriality to Ambev&amp;#x2019;s consolidated financial statements.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</abev:DescriptionOfAccountingPolicyForNewIFRSRelasesTextBlock>
  <abev:DescriptionOfAccountingPolicyForTheBasisOfConsolidationTextBlock contextRef="d_2017-01-01_2017-12-31" id="c28292570">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(c)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Consolidated financial statements&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The financial statements of subsidiaries, joint arrangements and associates used in its consolidated financial statements are prepared for the same reporting period as Ambev, using consistent accounting policies.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 176; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;All intercompany transactions, balances and unrealized gains or losses on transactions between group companies have been eliminated.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Subsidiaries&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company controls an entity when it is exposed to or has rights to variable returns due to its involvement with the organization and is able to affect those returns through its power over the entity. In assessing control, potential voting rights are taken into account. Control is presumed to exist where the Company owns, directly or indirectly, more than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; half of the voting rights (which does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; always equate to economic ownership), unless it can be demonstrated that such ownership does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; constitute control.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Subsidiaries are consolidated as from the date in which control is obtained to the Company, except when the predecessor basis of accounting is applied for common control transfers. Consolidation is discontinued as from the date control ceases.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Ambev uses the purchase method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interest issued by Ambev. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration agreement, when applicable. Costs related to the acquisition are recognized in income, as incurred. Assets, liabilities and contingent liabilities acquired/assumed in a business combination are recognized initially at their fair values at the acquisition date. Ambev recognizes the non-controlling interest in the acquiree, either at fair value or at the non-controlling interest&amp;#x2019;s proportionate share of the net assets acquired. The measurement of non-controlling interest to be recognized is determined for each acquisition.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The excess: (i) of the consideration paid; (ii) of the amount of any non-controlling interests in the acquiree (when applicable); and (iii) of the fair value, at acquisition date, of any previous equity interest in the acquiree, over the fair value of the net identifiable assets acquired, at the date of acquisition, is recorded as goodwill. When the consideration transferred is less than the fair value of net assets acquired, the difference is recognized directly in income.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;All intercompany transactions, balances and unrealized gains and losses on transactions between group companies have been eliminated. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; evidence of impairment.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 177; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Joint arrangements&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Joint arrangements are all entities over which the Company shares control with &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; or more parties. Joint arrangements are classified as either joint operations or joint ventures depending on the contractual rights and obligations of each investor.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Business combination between entities under common control&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;Business combinations between entities under common control have &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; been addressed by IFRS&amp;#x2019;s. The IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; is the pronouncement that shall be applied to business combinations, however it explicitly excludes business combinations between entities under common control from its scope.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;Therefore, in accordance with IAS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,&lt;/div&gt; Management has adopted an accounting practice which is consistent with United States Generally Accepted Accounting Principles (USGAAP) and United Kingdom Generally Accepted Accounting Principles (UKGAAP), the predecessor basis of accounting to record the carrying amount of the asset received, as recorded by the parent company.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Under the predecessor basis of accounting, when accounting for a transfer of assets or a swap of shares between entities under common control, the entity that receives the net assets or the equity interests (the acquirer) shall initially record the assets and liabilities transferred at their parent book value at the transfer date. If the book value of assets and liabilities transferred by the parent are different from the historical cost registered by the controlling entity of the entities under common control (the ultimate parent), the financial statements of the acquirer shall reflect the assets and liabilities transferred at the same cost of the ultimate parent.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Regarding transactions between entities under common control that involve the disposal or transfer of assets from the subsidiary to its parent company, i.e. - above the level of our consolidated financial statement &amp;#x2013;, the Company assess the existence of (i) conflict of interests and (ii) economic substance and purpose. Having fulfilled these assumptions, the Company adopted as a policy the concepts of IAS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16&lt;/div&gt; in order to provide adequate visibility and fair impact on the amount of the distributable results to our shareholders, specially the non-controlling interests. This policy also includes assets acquired through the swap of non-cash assets, or swap with a combination of cash and non-cash assets. The assets subject to the swap &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be of equal or different nature. The cost of such asset is measured at fair value, unless (i) the swap transaction is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; commercial in nature, or (ii) the fair value of the asset received (and the asset assigned) cannot be reliably measured. The acquired asset is measured through this way even if the assignor entity cannot immediately exclude the asset from its books. If the acquired asset is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; measurable at fair value, its cost is determined by the book value of the assigned asset.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 178; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Whenever there is a distribution of assets that is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; recorded as cash, the asset, before its distribution, is registered at fair value in the income account. This procedure is applicable to the distributions in which the assets are equal in nature and therefore treated equitably. However, similarly to IFRIC &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,&lt;/div&gt; in the absence of a specific accounting practice for transactions under common control, we apply this procedure in our accounting practice. Also, we apply the same procedure to sales (products, supplies, etc.) we perform to our controlling entity, where the positive result of the sale is recognized in the income account.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</abev:DescriptionOfAccountingPolicyForTheBasisOfConsolidationTextBlock>
  <abev:DescriptionOfCorporateInformationTextBlock contextRef="d_2017-01-01_2017-12-31" id="s822316">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;CORPORATE INFORMATION&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(a)&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Description of business&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Ambev S.A. (referred to as the &amp;#x201c;Company&amp;#x201d; or &amp;#x201c;Ambev&amp;#x201d;), headquartered in S&amp;atilde;o Paulo, Brazil, produces and sells beer, draft beer, soft drinks, other non-alcoholic beverages, malt and food in general, as well as the advertising of its and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; party products, the sale of promotional and advertising materials and the direct or indirect exploitation of bars, restaurants, snack bars and the like, among others.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company&amp;#x2019;s shares and ADR&amp;#x2019;s (American Depositary Receipts) are listed on the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;B3&lt;/div&gt; S.A.- Brasil, Bolsa, Balc&amp;atilde;o as &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;#x201c;ABEV3&amp;#x201d;&lt;/div&gt; and on the New York Stock Exchange (NYSE) as &amp;#x201c;ABEV&amp;#x201d;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company&amp;#x2019;s direct controlling shareholders are Interbrew International B.V. (&amp;#x201c;IIBV&amp;#x201d;), AmBrew S.A. (&amp;#x201c;Ambrew&amp;#x201d;), both subsidiaries of Anheuser-Busch InBev N.V. (&amp;#x201c;AB InBev&amp;#x201d;) and Funda&amp;ccedil;&amp;atilde;o Antonio e Helena Zerrenner Institui&amp;ccedil;&amp;atilde;o Nacional de Benefic&amp;ecirc;ncia (&amp;#x201c;Funda&amp;ccedil;&amp;atilde;o Zerrenner&amp;#x201d;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The financial statements were approved by the Board of Directors on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February 27&lt;/div&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;st&lt;/div&gt;, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(b)&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Major corporate events in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Renegotiation of shareholders agreement CND&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1st,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; Ambev informed its shareholders and the general market that the E. Le&amp;oacute;n Jimenes, S.A. (&amp;#x201c;ELJ&amp;#x201d;), partner of Ambev in Tenedora CND, S.A. (&amp;#x201c;Tenedora&amp;#x201d;) &amp;#x2013; a holding company headquartered in Dominican Republic, which holds almost all shares of Cervecer&amp;iacute;a Nacional Dominicana, S.A &amp;#x2013; will exercise partially, as provide for in shareholders&amp;#x2019; agreement of Tenedora, ELJ put option of approximatelly &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30%&lt;/div&gt; of capital stock by Tenedora. Due the partial put exercise option, the Company will pay to ELJ the amount of USD &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;926.5&lt;/div&gt; million and will be the holder of approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;85%&lt;/div&gt; of Tenedora, and ELJ will remain with &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15%&lt;/div&gt; interest of CND. Considering the strategic importance of alliance with the ELJ, the Board of Directors of Ambev approved this date the change of the call option term from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2019&lt;/div&gt; to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2022.&lt;/div&gt; The transaction was subject to certain conditions precedent that were executed on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 18, 2018, &lt;/div&gt;as described in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;36&lt;/div&gt; - &lt;div style="display: inline; font-style: italic;"&gt;Subsequent events&lt;/div&gt;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 172; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Adherence to the Special Tax Regularization Program&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0"&gt;During the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; the Company adhere a Special Program for Tax Regularization, fixed by Provisional Measure &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;783,&lt;/div&gt; from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May 31, 2017, &lt;/div&gt;extended by the Provisional Measure &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;798&lt;/div&gt; (&amp;#x201c;PERT &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&amp;#x201d;&lt;/div&gt;), undertaking to&amp;nbsp;pay&amp;nbsp;some tax assessments that were in dispute, including debts from its subsidiaries, for a total amount of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$3.5&lt;/div&gt; billion, already considering discounts according to the program, having paid the amount&amp;nbsp;of&amp;nbsp;approximately&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$960&lt;/div&gt; millions in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; and undertaking to&amp;nbsp;pay&amp;nbsp;the remaining value in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;145&lt;/div&gt; monthly installments, with interest, starting in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January, 2018.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Perpetual licensing agreement with Quilmes&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 2017, &lt;/div&gt;AB InBev and Quilmes, a subsidiary of Ambev, entered into an agreement whereby AB InBev will grant a perpetual license to Quilmes in Argentina for Budweiser and other North American brands upon the recovery of the distribution rights by AB InBev from CCU. The agreement also foresees the transfer of the brewery of Cerveceria Argentina Sociedad Anonima Isenbeck by AB InBev to Quilmes and the transfer of some Argentinean brands (Norte, Iguana and Baltica) and related business assets along with &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;US$50&lt;/div&gt; millions by Quilmes to CCU. The closing of the transaction is subject to the approval of the Argentinean antitrust authority and others usual closing conditions. Such approval has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; been granted by the time of the publication of these&amp;nbsp;financial statements.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Exchange contracts for future financial flows - Equity Swap&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 21, 2017, &lt;/div&gt;the Board of Directors approved new equity swap agreements without prejudice to the liquidation, within the regulatory term, of the agreements still in force as authorized at the meeting held on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May 16, 2017. &lt;/div&gt;These agreements authorized &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;result in an exposure of up to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;44&lt;/div&gt; million common shares (of which all or part &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be through ADR&amp;#x2019;s), with a limit value of up to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$820&lt;/div&gt; million and, together with the balance of the agreements executed in the context of the approval of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May 16, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; yet settled.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16th,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; the Board of Directors of Ambev approved the execution, by and between the Company, or its subsidiaries, and financial institutions to be approved by the Board of Officers, of equity swaps, having as underlying asset the shares issued by the Company or American Depositary Receipts representing these shares (&amp;#x201c;ADRs&amp;#x201d;). The settlement of the equity swap will take place within a maximum period of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&lt;/div&gt; months from this date, and the agreements &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;result in an exposure of up to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;80&lt;/div&gt; million common shares, with a limit value of up to R$ &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.3&lt;/div&gt; billion.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 173; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Acquisition of the Cachoeiras de Macacu&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2016, &lt;/div&gt;the Company acquired Cachoeira de Macacu Bebidas Ltda. from Brasil Kirin Ind&amp;uacute;stria de Bebidas Ltda., a company that owns an operating industrial plant for the production and packaging of beer and non-alcohol&amp;nbsp; beverages&amp;nbsp; in the State of Rio de Janeiro for &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$478.6&lt;/div&gt; million.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Exchange of shareholdings&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May 12, 2016, &lt;/div&gt;Ambev and its controlling shareholder, AB InBev, entered into an agreement for the exchange of shareholdings (&amp;#x201c;Swap&amp;#x201d;). The execution of the Swap was conditional on the implementation of the merger of the activities of AB InBev and SABMiller Plc (&amp;#x201c;SABMiller&amp;#x201d;), which occurred on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; October 10, 2016. &lt;/div&gt;Subsequently, on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016, &lt;/div&gt;after the implementation of certain preparatory corporate acts, the Swap was effected. Based on the agreement described above, Ambev transferred to AB InBev the equity interest in Keystone Global Corporation - KGC, which held shares in companies domiciled in Colombia, Peru and Ecuador. On the other hand, AB InBev transferred to Ambev its interest in Cerveceria Nacional S. de R.L., a subsidiary domiciled in Panama, which had previously been acquired as a &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; party.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The value attributed to the transaction is based on a fairness opinion prepared by a specialized company and duly approved by the Board of Directors of Ambev, with abstention from the vote of the directors appointed by AB InBev.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The result of the transaction above mentioned was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$1,236.8&lt;/div&gt; million, of which &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$1,240.0&lt;/div&gt; million was recognized in the income statement on exceptional items.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Acquisition of Archibald Microbrasserie&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; April, 2016, &lt;/div&gt;the Company, through its&amp;nbsp;wholly-owned subsidiary Labatt Breweries, in Canada, acquired the company Archibald Microbrasserie, known for its local beers and seasonal specialties. Furthermore, in Brazil, acquired &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;66%&lt;/div&gt; of the company Sucos do Bem, which has a range of juices, teas and cereal bars. The acquisition amount added was approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$155&lt;/div&gt; million.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Acquisition of Mark Anthony Group Companies&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January, 2016, &lt;/div&gt;the Ambev, through its&amp;nbsp;wholly-owned subsidiaries, CRBS S.A. and Ambev Luxembourg, acquired companies to a range of primarily spirit-based beers and ciders from Mark Anthony Group, by &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$1.4&lt;/div&gt; billion.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 174; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Business Acquisitions and Creation of B.Blend&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;During &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt; the Company, through its subsidiaries, effected&amp;nbsp;the purchase of companies Wals (&amp;#x201c;Tropical Juice&amp;#x201d;), Colorado (&amp;#x201c;Beertech Bebidas&amp;#x201d;), Bogota Beer Company (&amp;#x201c;BBC&amp;#x201d;), Cervecer&amp;iacute;a BBC SAS (&amp;#x201c;Cerveceria BBC&amp;#x201d;), Mill Street Brewery (&amp;#x201c;Mill St. Brewery&amp;#x201d;) and Banks Holdings Limited (&amp;#x201c;BHL&amp;#x201d;). Along with Whirpool has&amp;nbsp;initiated&amp;nbsp;the&amp;nbsp;setting-up of the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; joint venture, named B. Blend, being&amp;nbsp;the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt; platform beverages in capsules all-in-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; of the world.&lt;/div&gt;&lt;/div&gt;</abev:DescriptionOfCorporateInformationTextBlock>
  <abev:DirectChangesToDeferredTaxAndLiabilitiesInTheBalanceSheet contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28294796" unitRef="iso4217-brl">-21600000</abev:DirectChangesToDeferredTaxAndLiabilitiesInTheBalanceSheet>
  <abev:DirectChangesToDeferredTaxAndLiabilitiesInTheBalanceSheet contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28294807" unitRef="iso4217-brl">35400000</abev:DirectChangesToDeferredTaxAndLiabilitiesInTheBalanceSheet>
  <abev:DisclosureForTheBasisOfDividendsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-55">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"&gt;Net income, attributable to equity holders of Ambev&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,332.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,546.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,423.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Prescribed dividends&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Reversal effect of revaluation of fixed assets by predecessor&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;75.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;75.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;75.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Retained earnings basis for dividends and destinations&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,442.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,644.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,515.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Dividends and Interest on capital distributed and accrued to distribute based on net income for the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Dividends and Interest on capital paid based on profit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,612.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,651.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,218.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Dividends approved for distribution&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,099.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,454.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,039.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total of dividends and Interest on capital&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,712.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,106.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,257.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Percentage of distributed profit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;63&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;72&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;74&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Interest on capital distributed and accrued to distribute based on the investment reserve&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Interest on capital paid based on the investment reserve&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,770.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total of Interest on capital&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,770.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total of distributed and accrued to distribute&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,482.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,106.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,257.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Percentage of distributed profit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;114&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;72&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;74&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureForTheBasisOfDividendsTextBlock>
  <abev:DisclosureOfActuarialAssumptionsOfTheEntityTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-65">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2017 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2016 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2015 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Discount rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.6%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.6%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.9%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.5%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.1%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.1%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Inflation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.2%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.2%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Future salary increases&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.7%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.5%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.8%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Future pension increases&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.3%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Medical cost trend rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.9%&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.8%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; a &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.2%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.2%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;p.a. reducing to 7.9%&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;p.a. reducing to 8.2%&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;p.a. reducing to 8.2%&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Dental claims trend rate&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.3%&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5%&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5%&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Life expectation for an over 65 years old male&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;83&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;87&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;80&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;86&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;85&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;70&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Life expectation for an over 65 years old female&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;86&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;89&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;83&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;89&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;88&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;71&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfActuarialAssumptionsOfTheEntityTextBlock>
  <abev:DisclosureOfAssetCeilingTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-62">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Asset ceiling impact at January 1 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;st&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisitions through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest income/(expenses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Change in asset ceiling excluding amounts included in interest income/(expenses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of exchange rate fluctuations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Asset ceiling impact at December 31&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;58.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfAssetCeilingTextBlock>
  <abev:DisclosureOfChangesInCarryingValueOfEquityTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-52">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="30" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Carrying value adjustments&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Translation reserves&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Cash flow hedge&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Actuarial gains/ (losses)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Options granted on subsidiary&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Gains/(losses) of non-controlling interest&amp;acute;s share&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Business combination&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Accounting adjustments for transactions between shareholders&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="width: 12%; font-size: 10pt; font-weight: bold"&gt;At December 31, 2015&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,472.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;932.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,131.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,246.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,123.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;156.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75,162.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(71,857.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-style: italic; text-align: left"&gt;Comprehensive income:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Gains/(losses) on translation of foreign operations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,728.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,728.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cash flow hedges&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,076.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,076.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Actuarial gains/(losses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(130.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(130.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total Comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,728.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,076.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(130.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,936.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Options granted on subsidiary&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(144.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(144.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Gains/(losses) of controlling interest&amp;acute;s share&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Reversal effect of revaluation of fixed assets by previous cost&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(289.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(144.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,262.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,390.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,150.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;156.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75,238.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(77,019.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Comprehensive income:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Gains/(losses) on translation of&amp;nbsp;&amp;nbsp;foreign operations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,928.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,928.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cash flow hedges&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;513.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;513.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Actuarial gains/(losses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;117.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;117.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total Comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,928.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;513.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;117.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,559.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Put option granted on subsidiary&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(380.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(380.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Gains/(losses) of controlling interest&amp;acute;s share&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tax on fictitious dividends&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(38.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(38.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Reversal effect revaluation of fixed assets under the predecessor basis accounting&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,639.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;368.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,144.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,771.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,099.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;156.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75,314.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(74,966.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfChangesInCarryingValueOfEquityTextBlock>
  <abev:DisclosureOfChangesInEquityTextBlock contextRef="d_2017-01-01_2017-12-31" id="s822371">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;CHANGES IN EQUITY&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(a) Capital stock &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Million of common shares&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Million of Real&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Million of common shares&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Million of Real&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 56%; font-size: 10pt; text-align: left"&gt;Beginning balance as per statutory books&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,717.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57,614.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,717.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57,614.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Share issued&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,717.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57,614.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,717.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57,614.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 217; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(b) Capital reserves&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Capital Reserves&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Treasury shares&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Share &lt;br /&gt; Premium&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Others capital reserves&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Share-based Payments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 45%; font-size: 10pt; font-weight: bold; text-indent: 10pt"&gt;At December 31, 2015&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,003.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53,662.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;700.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,013.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;54,373.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Purchase of shares and result on treasury shares&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;94.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;94.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Share-based payments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;61.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;61.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-indent: 10pt"&gt;At December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(908.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53,662.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;700.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,074.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;54,529.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Purchase of shares and result on treasury shares&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Share-based payments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;157.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;157.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-indent: 10pt"&gt;At December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(895.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53,662.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;700.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,232.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;54,701.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;b.1&lt;/div&gt;) Treasury shares&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The treasury shares comprise own issued shares reacquired by the Company and the result on treasury shares that refers to gains and losses related to share-based payments transactions and others.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Follows the changes of treasury shares:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Acquire /realization shares&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Result on Treasure Shares&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Total Treasure Shares&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Thousands shares&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Thousands Brazilian Real&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Thousands shares&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Thousands Brazilian Real&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 56%; font-size: 10pt; font-weight: bold"&gt;At December 31, 2015&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(617.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(386.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,003.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Changes during the year&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;304.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(209.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;94.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(312.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(596.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(908.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Changes during the year&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;173.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(159.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(139.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(755.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(895.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;b.2&lt;/div&gt;) Share premium&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The share premium refers to the difference between subscription price that the shareholders paid for the shares and theirs nominal value. Since this is a capital reserve, it can only be used to increase capital, offset losses, redeem, reimbursement or repurchase shares.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;b.3&lt;/div&gt;) Share-based payment&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;There are different share-based payment programs and stock option plans which allow the senior management from Ambev economic group to receive or acquire shares of the Company.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The share-based payment reserve recorded a charge of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$209.3&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$170.3&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$197.1&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; respectively) (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24&lt;/div&gt; &amp;#x2013; &lt;div style="display: inline; font-style: italic;"&gt;Share-based payments&lt;/div&gt;).&lt;/div&gt; &lt;!-- Field: Page; Sequence: 218; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(c) Net income reserves&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Net income reserves&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Investments reserve&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Statutory reserve&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Fiscal incentive&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Interest on capital and dividends proposed&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 45%; font-size: 10pt; font-weight: bold"&gt;At December 31, 2015&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,141.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,016.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,039.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,201.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest on shareholder&amp;acute;s equity&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,039.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,039.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Destination of net income&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,718.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,819.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,538.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,859.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,835.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,700.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest on shareholder&amp;acute;s equity&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,770.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,770.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Fiscal incentive reserve&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,552.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,552.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Investments reserve&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,177.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,177.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,267.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,388.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,660.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;c.1&lt;/div&gt;) Investments reserve&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;From net income after deductions applicable, will be aimed &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; more than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;60&lt;/div&gt;&lt;/div&gt;%&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;sixty&lt;/div&gt; per cent) to investment reserve to support future investments.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;c.2&lt;/div&gt;) Statutory reserve&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;From net income, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/div&gt;%&lt;/div&gt; will be applied before any other allocation, to the statutory reserve, which cannot exceed &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20&lt;/div&gt;&lt;/div&gt;%&lt;/div&gt; of capital stock. The Company is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; required to supplement the statutory reserve in the year when the balance of this reserve, plus the amount of capital reserves, exceeds &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30&lt;/div&gt;&lt;/div&gt;%&lt;/div&gt; of the capital stock. &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;c.3&lt;/div&gt;) Tax incentives&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company has tax incentives framed in certain state and federal industrial development programs in the form of financing, deferred payment of taxes or partial reductions of the amount due. These state programs aim to promote the expansion of employment generation, regional decentralization, complement and diversify the industrial base of the States. In these states, the grace periods, enjoyment and reductions are permitted under the tax law.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;c.4&lt;/div&gt;) Interest on shareholders&amp;#x2019; equity / Dividends&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Brazilian companies are permitted to distribute interest attributed to shareholders&amp;#x2019; equity calculated based on the long-term interest rate (TJLP), such interest being tax-deductible, in accordance with the applicable law and, when distributed, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be considered part of the minimum mandatory dividends.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As determined by its By-laws, the Company is required to distribute to its shareholders, as a minimum mandatory dividend in respect of each fiscal year ending on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, &lt;/div&gt;an amount &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; less than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;40&lt;/div&gt;&lt;/div&gt;%&lt;/div&gt; of its net income determined under Brazilian law, as adjusted in accordance with applicable law, unless payment of such amount would be incompatible with Ambev&amp;#x2019;s financial situation. The minimum mandatory dividend includes amounts paid as interest on shareholder&amp;#x2019;s equity.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 219; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Events during the year ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017:&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Event&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Approval&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Type&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Date of payment&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Type of share&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Amount per share&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Total amount&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;05/16/2017&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;07/17/2017&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1600&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,513.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12/01/2017&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest on shareholder&amp;acute;s equity&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12/28/2017&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3100&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,869.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12/21/2017&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;02/22/2018&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0700&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,099.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,482.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;(i) &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$3,770.1&lt;/div&gt; of these interest on shareholder&amp;acute;s equity refer to the total amount approved for distribution in the period, and were accrued in investments reserves.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Events during the year ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016:&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Event&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Approval&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Type&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Date of payment&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Type of share&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Amount per share&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Total amount&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;01/15/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest on shareholder&amp;acute;s equity&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;02/29/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1300&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,039.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;06/24/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;07/29/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1300&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,040.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;10/19/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;11/25/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1600&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,511.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1/12/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest on shareholder&amp;acute;s equity&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12/29/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.2200&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,454.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12/22/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;02/23/2017&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0700&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,099.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,145.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Events during the year ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015:&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Event&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;Approval&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Type&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Date of payment&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Type of share&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Ammount per share&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Total amount&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;02/23/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest on shareholders&amp;#x2019; equity&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;03/31/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0300&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;471.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;02/23/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest on shareholders&amp;#x2019; equity&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;03/31/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0600&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;943.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;05/13/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest on shareholders&amp;#x2019; equity&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;06/29/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1000&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,570.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;08/28/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;09/28/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1500&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,352.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12/01/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest on shareholders&amp;#x2019; equity&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12/30/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1500&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,352.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,690.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) These dividends refer to the total amount approved for distribution in the period, and were accrued in investments reserves.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 220; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: -0.5in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: -0.5in"&gt;(d) Carrying value adjustments&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="30" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Carrying value adjustments&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Translation reserves&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Cash flow hedge&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Actuarial gains/ (losses)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Options granted on subsidiary&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Gains/(losses) of non-controlling interest&amp;acute;s share&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Business combination&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Accounting adjustments for transactions between shareholders&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="width: 12%; font-size: 10pt; font-weight: bold"&gt;At December 31, 2015&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,472.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;932.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,131.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,246.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,123.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;156.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75,162.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(71,857.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-style: italic; text-align: left"&gt;Comprehensive income:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Gains/(losses) on translation of foreign operations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,728.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,728.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cash flow hedges&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,076.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,076.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Actuarial gains/(losses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(130.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(130.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total Comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,728.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,076.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(130.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,936.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Options granted on subsidiary&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(144.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(144.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Gains/(losses) of controlling interest&amp;acute;s share&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Reversal effect of revaluation of fixed assets by previous cost&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(289.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(144.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,262.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,390.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,150.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;156.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75,238.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(77,019.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-style: italic; text-align: left"&gt;Comprehensive income:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Gains/(losses) on translation of&amp;nbsp;&amp;nbsp;foreign operations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,928.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,928.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cash flow hedges&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;513.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;513.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Actuarial gains/(losses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;117.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;117.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total Comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,928.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;513.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;117.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,559.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Put option granted on subsidiary&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(380.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(380.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Gains/(losses) of controlling interest&amp;acute;s share&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tax on fictitious dividends&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(38.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(38.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Reversal effect revaluation of fixed assets under the predecessor basis accounting&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,639.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;368.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,144.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,771.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,099.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;156.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75,314.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(74,966.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 221; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold"&gt;(&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;d.1&lt;/div&gt;) Translation reserves&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The translation reserves comprise all foreign currency exchange differences arising from the translation of the financial statements with a functional currency different from the Real.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The translation reserves also comprise the portion of the gain or loss on the foreign currency liabilities and on the derivative financial instruments determined to be effective net investment hedges in conformity with IAS&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;(&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;d.2&lt;/div&gt;) Cash flow hedge reserves&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The hedging reserves comprise the effective portion of the cumulative net change in the fair value of cash flow hedges to the extent the hedged risk has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; yet impacted profit or loss (For additional information, see Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27&lt;/div&gt; &amp;#x2013; &lt;div style="display: inline; font-style: italic;"&gt;Financial instruments and risks)&lt;/div&gt;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;d.3&lt;/div&gt;) Actuarial gains and losses&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The actuarial gains and losses include expectations with regards to the future pension plans obligations. Consequently, the results of actuarial gains and losses are recognized on a timely basis considering best estimate obtained by Management. Accordingly, the Company recognizes on a monthly basis the results of these estimated actuarial gains and losses according to the expectations presented based on an independent actuarial report.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The actuarial gain of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$158.5&lt;/div&gt; arising from the surplus reverted to the Sponsor, originating from Ambev Private Pension Institute of the defined benefits plan was fully recorded under the heading of actuarial gains and losses.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;d.4&lt;/div&gt;) &lt;div style="display: inline; color: black"&gt;Options granted on subsidiary&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As part of the shareholders agreement between the Ambev and ELJ, an option to sell (&amp;#x201c;put&amp;#x201d;) and to purchase (&amp;#x201c;call&amp;#x201d;) was issued, which &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;result in an acquisition by Ambev of the remaining shares of Tenedora CND, for a value based on EBITDA, +/- net debt, from operations, the &amp;#x201c;put&amp;#x201d; exercisable annually until &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2019&lt;/div&gt; and the &amp;#x201c;call&amp;#x201d; from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2019.&lt;/div&gt; On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;the put option held by ELJ is valued at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$5,520.2&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$4,878.5&lt;/div&gt; on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016) &lt;/div&gt;and the liability categorized as &amp;#x201c;Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&amp;#x201d;,&lt;/div&gt; as the Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27&lt;/div&gt; (b) and in accordance with the IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No&lt;/div&gt; value has been assigned to the call option held by the Company, since the likelihood of exercise is remote. The fair value of this consideration deferred was calculated by using standard valuation techniques (present value of the principal amount and future interest rates, discounted by the market rate). The criteria used are based on market information and from reliable sources and the fair value is revaluated on an annual basis.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 222; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;As disclosed in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,&lt;/div&gt; on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1st,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; Ambev informed its shareholders and the general market that the E. Le&amp;oacute;n Jimenes, S.A. (&amp;#x201c;ELJ&amp;#x201d;) will exercise partially its put option of approximatelly &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30%&lt;/div&gt; of capital stock by Tenedora. Due to the partial exercise of put option, the Company will be the holder of approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;85%&lt;/div&gt; of Tenedora. Additionally, was approved the change of the call option term from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2019&lt;/div&gt; to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2022.&lt;/div&gt; The operation was subject to certain conditions which were consummated on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 18, 2018, &lt;/div&gt;as presented in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35&lt;/div&gt; - &lt;div style="display: inline; font-style: italic;"&gt;Events after the reporting period&lt;/div&gt;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As part of the agreement to acquire the remaining shares of Sucos do Bem, a put option on interest in subsidiary determined by gross revenue of its products and exercisable from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2019&lt;/div&gt; has been granted. On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;the option is valued at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$132.0&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$127.7&lt;/div&gt; on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016).&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As part of the acquisition agreement of all shares of the company Tropical Juice, currently Cervejaria ZX S.A. a put option on interest in subsidiary exercisable from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018&lt;/div&gt; has been granted. On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;the option is valued at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$23.0&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$23.4&lt;/div&gt; on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016).&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The reconciliation of changes in these options is presented in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;&amp;#x2013; Financial instruments and risks&lt;/div&gt;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;d.5&lt;/div&gt;) Accounting for acquisition of non-controlling interests&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In transactions with non-controlling interests of the same business, even when performed&amp;nbsp;at arm's length terms, that present valid economic grounds and reflect normal market conditions, will be consolidated by the applicable accounting standards as occurred within the same accounting entity.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As determined by IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,&lt;/div&gt; any difference between the amount paid (fair value) for the acquisition of non-controlling interests and are related to carrying amount of such non-controlling interest shall be recognized directly in controlling shareholders&amp;#x2019; equity. The acquisition of non-controlling interest related to Old Ambev, the above mentioned adjustment was recognized in the Carrying value adjustments when applicable.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 223; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(e) Earnings per share&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Basic and diluted earnings per share of the stock option and deferred stock&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The calculation of basic earnings per share is based on the net income attributable to equity holders of Ambev and the proportional weighted average number of shares outstanding during the year.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Diluted earnings per share of the stock option and deferred stock is based on the net income attributable to equity holders of Ambev and the adjusting the weighted average number of shares outstanding during the year to assume conversion of all potentially dilutive shares, as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Million shares&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Common&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Common&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Common&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Issued shares at December 31, net of treasury shares &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,705.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,696.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,696.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Effect of shares options&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;132.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;126.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;124.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Weighted average number of shares (diluted) at December 31&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,838.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,823.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,820.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(i) &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Not&lt;/div&gt; considered treasury shares.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The tables below present the calculation of earnings per share (&amp;#x201c;EPS&amp;#x201d;):&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Common&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Common&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Common&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Income attributable to equity holders of Ambev&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,332.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,546.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,423.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Weighted average number of shares (non diluted)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,705.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,696.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,696.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Basic EPS (i)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.47&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.80&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.79&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Income attributable to equity holders of Ambev&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,332.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,546.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,423.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Weighted average numbers of shares (diluted)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,838.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,823.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,820.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Diluted EPS (i)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.46&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.79&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.79&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) Expressed in Brazilian Reais.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(f) Destinations&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the Company has done the appropriations to retained earnings, in accordance with the Brazilian Corporate law and the Company&amp;#x2019;s bylaws. The dividends payments made until &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2017 &lt;/div&gt;were approved at the Board of Directors&amp;#x2019; Meeting.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 224; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Regarding the basis for dividends, the Company believes that the predecessor basis of accounting, as well as its presentation for comparative purposes, will &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; affect the determination of the minimum mandatory dividend. Therefore, the Company intends to adjust the calculation basis of the minimum mandatory dividend to delete any current and future impacts on net income resulting from the adoption of this accounting practice, related to the amortization/depreciation of surplus assets or even a possible impairment of goodwill.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"&gt;Net income, attributable to equity holders of Ambev&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,332.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,546.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,423.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Prescribed dividends&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Reversal effect of revaluation of fixed assets by predecessor&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;75.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;75.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;75.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Retained earnings basis for dividends and destinations&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,442.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,644.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,515.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Dividends and Interest on capital distributed and accrued to distribute based on net income for the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Dividends and Interest on capital paid based on profit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,612.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,651.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,218.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Dividends approved for distribution&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,099.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,454.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,039.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total of dividends and Interest on capital&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,712.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,106.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,257.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Percentage of distributed profit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;63&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;72&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;74&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Interest on capital distributed and accrued to distribute based on the investment reserve&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Interest on capital paid based on the investment reserve&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,770.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total of Interest on capital&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,770.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total of distributed and accrued to distribute&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,482.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,106.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,257.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Percentage of distributed profit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;114&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;72&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;74&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</abev:DisclosureOfChangesInEquityTextBlock>
  <abev:DisclosureOfCollateralAndContractualCommitmentsWithSuppliersAdvancesFromCustomersAndOtherTextBlock contextRef="d_2017-01-01_2017-12-31" id="s822421">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;COLLATERAL AND CONTRACTUAL COMMITMENTS WITH SUPLLIERS, ADVANCES FROM CUSTOMERS AND OTHER&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Collateral given for own liabilities&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;606.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,051.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other commitments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;842.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;754.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,449.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,805.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Commitments with suppliers &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,096.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,019.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Commitments - Bond 2017&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;300.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,096.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,319.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) &lt;div style="display: inline; color: black"&gt;Variation refers, mainly, a new contracts with a new suppliers of aluminum in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017.&lt;/div&gt; &lt;/div&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 250; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; color: black"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The collateral provided for liabilities totaled approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$1,449.0&lt;/div&gt; as at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 (&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$1,805.8&lt;/div&gt; as at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016), &lt;/div&gt;including &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$551.0&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$571.3&lt;/div&gt; as at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016) &lt;/div&gt;of cash guarantees. The deposits in cash used as guarantees are presented as part of other assets. To meet the guarantees required by derivative exchanges and/or counterparties contracted in certain derivative financial instrument transactions, Ambev maintained as at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$606.3&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$486.8&lt;/div&gt; as at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016) &lt;/div&gt;in highly liquid financial investments or in cash, classified as cash and cash equivalents and investment securities (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27&lt;/div&gt; &amp;#x2013; &lt;div style="display: inline; font-style: italic;"&gt;Financial instruments and risks&lt;/div&gt;).&lt;/div&gt; &lt;div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Most of the balance relates to commitments with suppliers of packaging.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; background-color: white"&gt;Future contractual commitments as at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; are as follows:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Less than 1 year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,812.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,325.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Between 1 and 2 years&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,995.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;420.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;More than 2 years&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,287.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;572.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,096.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,319.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</abev:DisclosureOfCollateralAndContractualCommitmentsWithSuppliersAdvancesFromCustomersAndOtherTextBlock>
  <abev:DisclosureOfComponentsInCashAndCashEquivalentsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-46">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Short term bank deposits &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,688.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,027.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Current bank accounts&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,077.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,467.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Cash&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;588.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;381.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,354.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,876.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Bank overdrafts&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Cash and cash equivalents less bank overdraft&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,352.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,876.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfComponentsInCashAndCashEquivalentsTextBlock>
  <abev:DisclosureOfCurrentTradeReceivablesTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-44">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,335.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,774.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Bad debt provision&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(521.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(443.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Net, trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,814.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,330.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Related parties&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;130.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;37.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total current trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,944.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,368.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfCurrentTradeReceivablesTextBlock>
  <abev:DisclosureOfDeferredIncomeTaxAndSocialContributionTextBlock contextRef="d_2017-01-01_2017-12-31" id="s822358">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;DEFERRED INCOME TAX AND SOCIAL CONTRIBUTION&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred taxes for income tax and social contribution taxes are calculated on tax losses, the negative tax basis of social contributions and the temporary differences between the tax bases and the carrying amount in the financial statement of assets and liabilities. The rates of these taxes in Brazil, which are expected at the realization of deferred taxes, are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25%&lt;/div&gt; for income tax and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9%&lt;/div&gt; for social contribution. For the other regions, with operational activity, expected rates, are as follow:&lt;/div&gt; &lt;!-- Field: Page; Sequence: 213; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 70%; font-size: 10pt; text-align: left"&gt;Central America and the Caribbean&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 5%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;from 23%&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 20%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Latin America &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;from 14%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Canada&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;26%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) Amendments to Argentine tax legislation approved on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 29, 2017 &lt;/div&gt;affect tax periods beginning in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; October 2018 &lt;/div&gt;and reduce the income tax rate in the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; years from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35%&lt;/div&gt; to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30%&lt;/div&gt; and, as a after, to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25%.&lt;/div&gt; For fiscal year &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; however, there is an impact of R $ &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.0&lt;/div&gt; million in deferred income tax.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred tax assets are recognized to the extent that it is probable that future taxable profit will be available to be used to offset temporary differences / loss carry forwards based on projections of future results prepared and based on internal assumptions and future economic scenarios which &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;therefore change.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The amount of deferred income tax and social contribution by type of temporary difference is detailed as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Assets&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Net&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Assets&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Net&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 34%; font-size: 10pt; text-align: left"&gt;Investment securities&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Intangible&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(719.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(719.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(733.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(733.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Employee benefits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;631.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;631.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;467.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;467.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade payables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,382.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(314.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,068.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;977.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(531.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;446.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivable&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;52.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;52.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Derivatives&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;71.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(110.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(39.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Inventories&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;248.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(18.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;230.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;267.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;253.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Property, plant and equipment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(920.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(920.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(905.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(905.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Withholding tax over undistributed profits and royalties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(788.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(788.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(684.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(684.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Investments in associates&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(421.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(421.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(421.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(421.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Loss carryforwards&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;501.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;501.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,139.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,139.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Provisions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;347.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(39.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;307.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;448.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(44.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;404.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other items&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(30.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(30.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(15.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(24.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(39.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Gross deferred tax assets / (liabilities)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,208.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,258.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(49.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,409.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,471.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(61.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Netting by taxable entity&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(929.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;929.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,141.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,141.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Net deferred tax assets / (liabilities)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,279.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,329.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(49.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,268.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,329.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(61.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company only offsets the balances of deferred income tax and social contribution assets against liabilities when they are within the same entity and are expected to be realized in the same period.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Tax losses and negative bases of social contribution and temporary deductible differences in Brazil, on which the deferred income tax and social contribution were calculated, have &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; expiry date.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;the assets and liabilities deferred taxes related to combined tax losses has an expected utilization/settlement by temporary differences as follows:&lt;/div&gt; &lt;!-- Field: Page; Sequence: 214; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Deferred taxes not related to tax losses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;to be realized until 12 months&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;to be realized after 12 months&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Total&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 67%; font-size: 10pt; text-align: left"&gt;Investment securities&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Intangible assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(719.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(719.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Employee benefits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;112.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;518.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;631.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade payables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,382.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(314.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,068.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivable&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;52.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Derivatives&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Inventories&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;230.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;230.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Property, plant and equipment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(58.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(862.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(920.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Withholding tax over undistributed profits and royalties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(788.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(788.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Investments in associates&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(421.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(421.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Provisions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;91.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;215.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;307.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other items&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(30.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(30.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,807.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,358.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(550.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: left"&gt;Deferred tax related to tax losses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 87%; font-size: 10pt; text-align: left"&gt;2018&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;209.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;98.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;2020&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;2021&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;A partir de 2022 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;167.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;501.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) There is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; expectation of realization that exceeds the term of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10&lt;/div&gt; years.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;deferred tax assets in the amount of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$427.4&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$455.6&lt;/div&gt; as at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016) &lt;/div&gt;related to tax losses and temporary differences of subsidiaries abroad were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; recorded as the realization is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; probable.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Major part of the fiscal losses amount do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; have a carryforward limit for utilization&amp;nbsp;and the tax losses carried forward in relation to them are equivalent to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$1,709.5&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 (&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$2,285.2&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016).&lt;/div&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 215; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The net change in deferred income tax and social contribution is detailed as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 87%; font-size: 10pt; font-weight: bold"&gt;At December 31, 2015&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;276.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Full recognition of actuarial gains/(losses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Investment hedge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Investment hedge - put option of a subsidiary interest&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(364.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Cash flow hedge - gains/(losses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;536.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Gains/losses on translation of other foreign operations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(578.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Recognized in other comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(360.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Recognized in income statement&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;98.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Changes directly in balance sheet&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Recognized in deferred tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(21.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Anticipation federal amnesty&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(54.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(61.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Full recognition of actuarial gains/(losses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;40.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Investment hedge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(262.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Investment hedge - put option of a subsidiary interest&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(31.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Cash flow hedge - gains/(losses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(269.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Gains/(losses) on translation of other foreign operations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;136.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Recognized in other comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(387.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Recognized in income statement&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;253.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Changes directly in balance sheet&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;146.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Recognized in deferred tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Recognized in other group of balance sheet&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;110.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(49.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</abev:DisclosureOfDeferredIncomeTaxAndSocialContributionTextBlock>
  <abev:DisclosureOfDeferredTaxRealizationRelatedToTaxLossesTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-41">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: left"&gt;Deferred tax related to tax losses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 87%; font-size: 10pt; text-align: left"&gt;2018&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;209.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;2019&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;98.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;2020&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;2021&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;A partir de 2022 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;167.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;501.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfDeferredTaxRealizationRelatedToTaxLossesTextBlock>
  <abev:DisclosureOfDefinedBenefitObligationTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-60">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Defined benefit obligation at January 1 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;st&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,333.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,403.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,808.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisitions through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(67.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Service cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(38.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(43.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(42.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(321.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(320.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(308.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Gains and (losses) on settlements or reductions in benefits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Contributions by plan participants&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Actuarial gains and (losses) - geographical assumptions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;77.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(20.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Actuarial gains and (losses) - financial assumptions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(140.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(321.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;182.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Experience adjustment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(115.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(182.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Exchange differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(306.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;599.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(805.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Benefits paid&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;400.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;416.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;392.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Defined benefit obligation at December, 31&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,785.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,333.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,403.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfDefinedBenefitObligationTextBlock>
  <abev:DisclosureOfDefinedBenefitPlansRecognizedInTheIncomeStatementTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-63">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Current service costs&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(38.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(43.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(42.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Administrative costs&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;(Gains) losses on settlements and curtailments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Income from operations&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(37.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(46.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(44.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Financial cost&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(101.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(105.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(97.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total expense for employee benefits&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(138.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(151.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(142.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfDefinedBenefitPlansRecognizedInTheIncomeStatementTextBlock>
  <abev:DisclosureOfDetailedInformationAboutNoncashItemsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-86">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Acquisition of property, plant and equipment&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;105.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisition of investments payables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;208.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cash financing cost other than interests&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;37.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,752.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;PERT 2017&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;199.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Fair value of option granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;221.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;205.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;144.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfDetailedInformationAboutNoncashItemsTextBlock>
  <abev:DisclosureOfDetailedInformationAboutSubsidiariesTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-89">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellspacing="0" cellpadding="0" style="font-size: 10pt; border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; width: 82%; font-size: 10pt; layout-grid-mode: line"&gt;&lt;br /&gt; &lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Argentina&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; width: 18%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; margin: 0"&gt;CERVECERIA Y MALTERIA QUILMES SAICA Y G&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0"&gt;Charcas 5160 &amp;#x2013; Buenos Aires&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;99.75%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Bol&amp;iacute;via&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;CERVECERIA BOLIVIANA NACIONAL S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Avenida Montes 400 e Rua Chuquisaca 121 - La Paz&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;85.67%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Brazil&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;AMBEV S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Rua Dr. Renato Paes de Barros, 1.017, 3&amp;ordm; andar, Itaim Bibi, S&amp;atilde;o Paulo&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Companhia Consolidadora &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; margin: 0"&gt;AROSUCO AROMAS E SUCOS LTDA.&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0"&gt;Avenida Buriti, 5.385, Distrito Industrial - Manaus - AM&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;CRBS S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Avenida Antarctica, 1.891, Fazenda Santa &amp;Uacute;rsula &amp;#x2013; Jaguari&amp;uacute;na &amp;#x2013; SP&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;CERVEJARIA Z.X.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Avenida Antarctica, 1.891, Fazenda Santa Ursula &amp;#x2013; Jaguari&amp;uacute;na - SP&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" rowspan="2" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;86.42%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; layout-grid-mode: line"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Canad&amp;aacute;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;LABATT BREWING COMPANY LIMITED&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;207 Queens Quay West, Suite 299 - M5J 1A7 - Toronto&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Chile&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;CERVECERIA CHILE S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Avenida Presidente Eduardo Frei Montalva, 9.600 - Comuna de Quilicura - Santiago&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Spain&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;JALUA SPAIN, S.L.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Juan Vara Ter&amp;aacute;n, 14 &amp;#x2013; Ilhas Can&amp;aacute;rias&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Luxembourg&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;AMBEV LUXEMBOURG&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;15 Breedewues - L1259 - Sennngerberg&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Guatemala&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;INDUSTRIAS DEL ATL&amp;Aacute;NTICO, SOCIEDAD AN&amp;Oacute;NIMA&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;KM 122 Ruta al Atlantico &amp;#x2013; C.P 01012 Teculutan, Zacapa&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;50.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Paraguay&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;CERVECERIA PARAGUAYA S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Ruta Villeta KM 30 - Ypan&amp;eacute;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;87.36%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Dominican Republic&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;CERVECER&amp;Iacute;A NACIONAL DOMINICANA, S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Autopista 30 de Mayo, Distrito Nacional&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;55.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; width: 82%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; width: 18%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Uruguay&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;LINTHAL S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;25 de Mayo 444, office 401 - Montevideo&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;CERVECERIA Y MALTERIA PAYSSAND&amp;Uacute; S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Rambla Baltasar Brum, 2.933 &amp;#x2013; 11800 - Payssandu&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;99.93%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;MONTHIERS SOCIEDAD AN&amp;Oacute;NIMA&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Cesar Cortinas, 2.037 - Montevideo&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; width: 82%; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Panama&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; width: 18%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Cervecer&amp;iacute;a Nacional S. de R.L.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Planta Pasadena, v&amp;iacute;a Ricardo J Alfaro y Sim&amp;oacute;n Bol&amp;iacute;var, ciudad de Panam&amp;aacute;, Rep. De Panam&amp;aacute;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfDetailedInformationAboutSubsidiariesTextBlock>
  <abev:DisclosureOfEmployeeBenefitRevenueExpensesAllocationInIncomeStatementTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-64">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt"&gt;Cost of sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(22.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(24.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(19.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Sales and marketing expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Administrative expense&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(17.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Financial expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(101.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(105.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(97.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(138.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(151.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(142.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfEmployeeBenefitRevenueExpensesAllocationInIncomeStatementTextBlock>
  <abev:DisclosureOfEstimatedUsefulLivesOfMajorPropertyPlantAndEquipmentClassesTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-17">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 70%; font-size: 10pt; text-align: left"&gt;Buildings (years)&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 20%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;25&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Plant and equipment (years)&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;15&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Fixtures (years)&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;10&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Fittings (years)&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;10&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;External use assets (years)&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; - &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfEstimatedUsefulLivesOfMajorPropertyPlantAndEquipmentClassesTextBlock>
  <abev:DisclosureOfEstimatesOfPossibleLossesTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-85">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;IRPJ and CSLL&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,757.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,934.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;PIS and COFINS&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,485.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,971.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;ICMS and IPI&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,805.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,046.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Labor&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;287.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;222.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Civil&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,071.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,417.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,113.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;858.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;60,520.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;52,450.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfEstimatesOfPossibleLossesTextBlock>
  <abev:DisclosureOfExceptionalItemsIncludedInTheIncomeStatementTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-21">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Result through exchange transaction of shareholdings&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,240.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Restructuring&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(105.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(79.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(63.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Administrative lawsuit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(239.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Costs arising from business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(29.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(48.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(108.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,134.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(357.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfExceptionalItemsIncludedInTheIncomeStatementTextBlock>
  <abev:DisclosureOfExceptionalItemsTextBlock contextRef="d_2017-01-01_2017-12-31" id="s822330">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;EXCEPTIONAL ITEMS&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The exceptional items included in the income statement are detailed below:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Result through exchange transaction of shareholdings&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,240.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Restructuring&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(105.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(79.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(63.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Administrative lawsuit&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(239.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Costs arising from business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(29.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(48.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(108.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,134.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(357.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(i) It refers to result of transaction of exchange of shareholdings, as mentioned in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; (b).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company opted to exclude these items when measuring segment-based performance, as per Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt; &amp;#x2013; &lt;div style="display: inline; font-style: italic;"&gt;Segment reporting&lt;/div&gt;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2017, &lt;/div&gt;the Company recorded exceptional net finance cost of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$977&lt;/div&gt; million &amp;#x2013; see Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11&lt;/div&gt; - &lt;div style="display: inline; font-style: italic;"&gt;Finance cost and income&lt;/div&gt; &amp;#x2013; and a exceptional income tax expense of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$2.8&lt;/div&gt; billion &amp;#x2013; see Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt; - &lt;div style="display: inline; font-style: italic;"&gt;Income tax and social contribution&lt;/div&gt;.&lt;/div&gt;&lt;/div&gt;</abev:DisclosureOfExceptionalItemsTextBlock>
  <abev:DisclosureOfFinancialInstrumentsFairValueHierarchyTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-80">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Level 1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Level 2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Level 3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Total&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Level 1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Level 2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Level 3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Total&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-decoration: underline; text-align: left"&gt;Financial assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="width: 12%; font-size: 10pt; text-align: left"&gt;Financial asset at fair value through profit or loss&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;282.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;282.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;Derivatives assets at fair value through profit or loss&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Derivatives - operational hedge&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;280.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;285.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;83.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;110.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;194.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;380.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;397.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;369.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;126.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;495.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-decoration: underline; text-align: left"&gt;Financial liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Financial liabilities at fair value through profit and loss &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,764.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,764.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,106.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,106.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;Derivatives liabilities at fair value through profit or loss&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;40.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;49.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;Derivatives - operational hedge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;58.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;143.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;201.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;78.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;575.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;654.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Derivatives - fair value hedge&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;60.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;157.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,764.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,981.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;88.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;624.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,106.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,819.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfFinancialInstrumentsFairValueHierarchyTextBlock>
  <abev:DisclosureOfFutureContractualCommitmentsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-84">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Less than 1 year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,812.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,325.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Between 1 and 2 years&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,995.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;420.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;More than 2 years&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,287.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;572.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,096.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,319.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfFutureContractualCommitmentsTextBlock>
  <abev:DisclosureOfIncomeTaxAndSocialContributionTextBlock contextRef="d_2017-01-01_2017-12-31" id="s822342">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;INCOME TAX AND SOCIAL CONTRIBUTION&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Income taxes reported in the income statement are analyzed as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"&gt;Income tax expense - current&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,332.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(413.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,227.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Deferred tax expense on temporary differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;891.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(732.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,192.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Deferred tax over taxes losses carryforwards movements&amp;nbsp;&amp;nbsp;in the current period&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(638.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;831.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(214.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total deferred tax (expense)/income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;253.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;98.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,406.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total income tax expenses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,079.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(315.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,634.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 206; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The reconciliation from the weighted nominal to the effective tax rate is summarized as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"&gt;Income before tax&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,929.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,398.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,513.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Adjustment on taxable basis&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Non-taxable income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(310.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(392.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(999.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Government grants related to sales taxes&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,889.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,528.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,360.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Share of results of joint ventures&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Non-deductible expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;91.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;539.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;415.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Complement of income tax of foreign subsidiaries due in Brazil&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;560.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;148.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,965.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Results of intercompany transactions non-taxable/not deductible in Brazil&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(547.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;640.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,313.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,836.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,810.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,217.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Aggregated weighted nominal tax rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.22&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30.16&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31.59&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Taxes payable &amp;#x2013; nominal rate&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,166.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,864.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,806.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Adjustment on tax expense&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Regional incentives - income taxes&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;304.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;264.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;257.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Deductible interest on shareholders' equity&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,649.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,867.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,646.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tax savings from goodwill amortization on tax books&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;175.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;142.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;142.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Withholding tax over undistributed profits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(356.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;153.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(672.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Recognition / write-off of deferred charges on tax losses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(178.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;796.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;138.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;PERT 2017&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,784.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Others with reduced taxation&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(721.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;325.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(339.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Income tax and social contribution expense&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,079.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(315.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,634.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Effective tax rate&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.28&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.35&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22.01&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The main events that impacted the effective tax rate in the period were:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt; text-align: justify; text-indent: -14.2pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&amp;nbsp; &lt;/div&gt;Government subsidy on sales taxes: The reduction of tax expense reflects the deductibility of investment subsidies arising from deferred and presumed ICMS credits.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt; text-align: justify; text-indent: -14.2pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&amp;nbsp; &lt;/div&gt;Deductible Interest on net equity: Under Brazilian law, companies have the option to distribute interest on equity (&amp;#x201c;JCP&amp;#x201d;), calculated based on the long-term interest rate (&amp;#x201c;TJLP&amp;#x201d;), Which are deductible for income tax purposes under the applicable legislation, which amount to be distributed until now is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$4,869.8,&lt;/div&gt; of which &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$4,850.1&lt;/div&gt; are deductible and the tax impact is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$1,649.0.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt; text-align: justify; text-indent: -14.2pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&amp;nbsp; &lt;/div&gt;Withholding tax on dividends: the variance is mainly driven by &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; factors (i) reversal of the provision related to withholding tax on unremitted earnings of Argentinean subsidiaries in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; due to a change in the local law that exempts the payment of dividends from withholding tax; and (ii) constitution of provision and exchange variation effect related to withholding tax on unremitted earnings of Canadian subsidiaries of approximately R$ &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;145&lt;/div&gt; million, as opposed to the approximated amount of R$ &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt; million in the same period of the previous year.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 207; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt; text-align: justify; text-indent: -14.2pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; text-indent: -14.2pt; margin: 0 0 0 14.2pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&amp;nbsp; &lt;/div&gt;Amongst the contingencies covered by the Federal Tax Amnesty Program (&amp;#x201c;PERT &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&amp;#x201d;&lt;/div&gt;), there is a litigation whose purpose was to discuss the Presumed Profit method used by CRBS (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; of Ambev&amp;#x2019;s subsidiaries in Brazil) to calculate its Corporate Income Taxes (namely, &amp;#x201c;IRPJ&amp;#x201d; and &amp;#x201c;CSLL&amp;#x201d;). The total amount booked as an expense, after the conversion of the Provisional Measure &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;783/2017&lt;/div&gt; into Law, was R$ &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,926&lt;/div&gt; million (principal, fine and interests), being R$ &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,785&lt;/div&gt; million booked as non-recurring expenses under Corporate Income Tax and R$ &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;141&lt;/div&gt; million under Financial Results.&lt;/div&gt;&lt;/div&gt;</abev:DisclosureOfIncomeTaxAndSocialContributionTextBlock>
  <abev:DisclosureOfInterestOnShareholdersEquityAndDividendsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-51">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Event&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Approval&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Type&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Date of payment&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Type of share&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Amount per share&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Total amount&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;05/16/2017&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;07/17/2017&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1600&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,513.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12/01/2017&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest on shareholder&amp;acute;s equity&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12/28/2017&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3100&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,869.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12/21/2017&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;02/22/2018&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0700&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,099.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,482.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Event&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Approval&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Type&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Date of payment&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Year&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Type of share&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Amount per share&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Total amount&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;01/15/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest on shareholder&amp;acute;s equity&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;02/29/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1300&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,039.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;06/24/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;07/29/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1300&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,040.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;10/19/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;11/25/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1600&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,511.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1/12/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest on shareholder&amp;acute;s equity&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12/29/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.2200&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,454.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12/22/2016&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;02/23/2017&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0700&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,099.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,145.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Event&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;Approval&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Type&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Date of payment&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Type of share&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Ammount per share&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Total amount&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;02/23/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 14%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest on shareholders&amp;#x2019; equity&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;03/31/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0300&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 11%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;471.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;02/23/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest on shareholders&amp;#x2019; equity&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;03/31/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0600&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;943.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;05/13/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest on shareholders&amp;#x2019; equity&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;06/29/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1000&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,570.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;08/28/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;09/28/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1500&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,352.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;Board of Directors Meeting&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12/01/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest on shareholders&amp;#x2019; equity&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12/30/2015&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ON&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1500&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,352.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,690.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfInterestOnShareholdersEquityAndDividendsTextBlock>
  <abev:DisclosureOfInventoryComponentsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-43">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Finished goods&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,528.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,445.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Work in progress&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;309.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;328.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Raw material&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,816.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,962.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Consumables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;77.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Spare parts and other&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;476.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;447.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Prepayments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;210.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;234.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Impairment losses&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(100.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(121.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,319.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,347.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfInventoryComponentsTextBlock>
  <abev:DisclosureOfInvestmentSecuritiesPortionsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-37">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Debt held-to-maturity &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;122.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;104.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Non-current investments securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;122.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;104.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Financial asset at fair value through profit or loss-held for trading&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;282.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Current investments securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;282.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;133.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;387.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfInvestmentSecuritiesPortionsTextBlock>
  <abev:DisclosureOfInvestmentSecuritiesTextBlock contextRef="d_2017-01-01_2017-12-31" id="s822356">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;INVESTMENT SECURITIES&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Debt held-to-maturity &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;122.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;104.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Non-current investments securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;122.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;104.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Financial asset at fair value through profit or loss-held for trading&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;282.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Current investments securities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;282.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;133.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;387.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) The balance refers substantially to Bank Deposit Certificates - CDB linked to tax incentives.&lt;/div&gt;&lt;/div&gt;</abev:DisclosureOfInvestmentSecuritiesTextBlock>
  <abev:DisclosureOfKeyManagementPersonnelCompensationTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-87">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Short-term benefits &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Share-based payments &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;38.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;36.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total key management remuneration&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;72.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;71.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfKeyManagementPersonnelCompensationTextBlock>
  <abev:DisclosureOfMaturityOfTheCurrentTradeReceivablesTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-45">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Net carrying amount as of December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;No past due&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Past due &amp;#x2013; until 30 days&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Past due &amp;#x2013; between 31 - 60 days&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Past due &amp;#x2013; between 61 - 90 days&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Past due &amp;#x2013; between 91 - 180 days&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Past due &amp;#x2013; between 181 - 360 days&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Past due 360 days&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,335.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,343.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;340.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;63.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;85.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;427.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Bad debt provision&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(521.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(45.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(42.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(427.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,814.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,339.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;340.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;62.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,774.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,093.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;187.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;43.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;38.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;352.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Bad debt provision&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(443.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(30.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(38.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(352.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,330.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,086.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;186.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfMaturityOfTheCurrentTradeReceivablesTextBlock>
  <abev:DisclosureOfNetIncomeReservesTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-50">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Net income reserves&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Investments reserve&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Statutory reserve&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Fiscal incentive&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Interest on capital and dividends proposed&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 45%; font-size: 10pt; font-weight: bold"&gt;At December 31, 2015&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,141.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,016.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,039.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,201.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest on shareholder&amp;acute;s equity&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,039.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,039.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Destination of net income&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,718.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,819.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,538.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,859.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,835.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,700.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest on shareholder&amp;acute;s equity&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,770.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,770.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Fiscal incentive reserve&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,552.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,552.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Investments reserve&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,177.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,177.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,267.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,388.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,660.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfNetIncomeReservesTextBlock>
  <abev:DisclosureOfNotionalAndFairValueAmountsPerFinancialInstrumentAndMaturityTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-78">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Notional Value&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Exposure&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Risk&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2020&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2021&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&amp;gt; 2021&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 12%; font-size: 10pt; font-weight: bold"&gt;Cost&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,219.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;99.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,318.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Commodity&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,859.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;96.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,955.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,879.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,879.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Euro&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;82.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;82.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Mexican Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;398.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;401.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Fixed asset&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;579.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;579.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;531.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;531.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Euro&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;177.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;177.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;169.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;169.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Rupee&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Cash&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,313.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,328.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,313.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,313.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest rate&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Debt&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;110.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;246.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;356.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest rate&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;110.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;246.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;356.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Foreign Investments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;677.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;677.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;677.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;677.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,966.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;99.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;110.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;246.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,438.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Fair Value&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Exposure&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Risk&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2020&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2021&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&amp;gt; 2021&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 12%; font-size: 10pt; font-weight: bold"&gt;Cost&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;89.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;93.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Commodity&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;91.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;95.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Euro&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Mexican Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Fixed asset&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Euro&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Rupee&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Cash&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest rate&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Debt&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest rate&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Equity Instrument&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;69.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;69.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Stock prices&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;69.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;69.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;134.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;167.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfNotionalAndFairValueAmountsPerFinancialInstrumentAndMaturityTextBlock>
  <abev:DisclosureOfOtherOperatingIncomeExpensePortionsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-20">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Government grants/NPV of long term fiscal incentives&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;993.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,166.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,755.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;(Additions)/reversals to provisions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(132.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(106.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Gains/(losses) on disposal of property, plant and equipment, intangible assets and operation in associates&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;91.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;70.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other operating income/(expenses), net&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;145.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;118.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;233.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,217.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,223.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,936.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfOtherOperatingIncomeExpensePortionsTextBlock>
  <abev:DisclosureOfPayrollAndRelatedBenefitsAffectingTheIncomeStatementTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-23">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt"&gt;Cost of sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,714.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,912.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,890.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Distribution expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;791.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;780.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;722.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Sales and marketing expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,096.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;989.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;980.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Administrative expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,470.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;970.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,154.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Net finance cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;95.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,123.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,746.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,774.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfPayrollAndRelatedBenefitsAffectingTheIncomeStatementTextBlock>
  <abev:DisclosureOfPayrollAndRelatedBenefitsOfTheEntityTextBlock contextRef="d_2017-01-01_2017-12-31" id="s822332">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;PAYROLL AND RELATED BENEFITS&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Wages and salaries&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,371.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,038.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,086.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Social security contributions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;741.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;727.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;756.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other personnel cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;616.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;613.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;561.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase in liabilities for defined benefit plans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;138.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;151.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;142.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Share-based payment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;236.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;189.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;209.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Contributions to defined contribution plans&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,123.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,746.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,774.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 204; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The result with payroll and related benefits are presented in the income statement as below:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt"&gt;Cost of sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,714.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,912.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,890.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Distribution expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;791.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;780.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;722.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Sales and marketing expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,096.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;989.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;980.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Administrative expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,470.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;970.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,154.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Net finance cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;95.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,123.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,746.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,774.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</abev:DisclosureOfPayrollAndRelatedBenefitsOfTheEntityTextBlock>
  <abev:DisclosureOfPayrollAndRelatedBenefitsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-22">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Wages and salaries&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,371.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,038.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,086.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Social security contributions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;741.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;727.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;756.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other personnel cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;616.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;613.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;561.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Increase in liabilities for defined benefit plans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;138.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;151.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;142.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Share-based payment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;236.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;189.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;209.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Contributions to defined contribution plans&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,123.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,746.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,774.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfPayrollAndRelatedBenefitsTextBlock>
  <abev:DisclosureOfPlanAssetsComponentsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-67">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Rated&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Unrated&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Rated&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Unrated&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Rated&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Unrated&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: left"&gt;Government bonds&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;Corporate bonds&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;23&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;23&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;Equity instruments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;Property&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;Cash&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfPlanAssetsComponentsTextBlock>
  <abev:DisclosureOfReconciliationFromTheWeightedNominalToTheEffectiveTaxRateTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-30">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"&gt;Income before tax&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,929.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,398.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,513.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Adjustment on taxable basis&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Non-taxable income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(310.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(392.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(999.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Government grants related to sales taxes&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,889.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,528.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,360.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Share of results of joint ventures&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Non-deductible expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;91.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;539.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;415.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Complement of income tax of foreign subsidiaries due in Brazil&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;560.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;148.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,965.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Results of intercompany transactions non-taxable/not deductible in Brazil&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(547.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;640.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,313.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,836.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,810.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,217.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Aggregated weighted nominal tax rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.22&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30.16&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31.59&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Taxes payable &amp;#x2013; nominal rate&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,166.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,864.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,806.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Adjustment on tax expense&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Regional incentives - income taxes&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;304.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;264.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;257.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Deductible interest on shareholders' equity&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,649.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,867.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,646.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tax savings from goodwill amortization on tax books&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;175.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;142.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;142.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Withholding tax over undistributed profits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(356.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;153.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(672.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Recognition / write-off of deferred charges on tax losses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(178.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;796.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;138.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;PERT 2017&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,784.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Others with reduced taxation&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(721.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;325.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(339.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Income tax and social contribution expense&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,079.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(315.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,634.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Effective tax rate&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.28&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.35&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22.01&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfReconciliationFromTheWeightedNominalToTheEffectiveTaxRateTextBlock>
  <abev:DisclosureOfReportableSegmentsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-18">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 8pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Latin America - north &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 8pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Latin America - south &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Canada&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Consolidated&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,086.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,927.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29,654.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,769.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,212.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,255.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,043.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,461.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,809.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47,899.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45,602.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;46,720.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt"&gt;Cost of sales&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(11,935.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10,870.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9,921.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,122.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,685.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,306.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,984.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,122.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,833.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(18,041.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16,678.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16,061.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Gross profit&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,151.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,057.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,733.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,647.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,527.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,948.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,059.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,339.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,976.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29,857.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,924.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30,658.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 8pt; text-align: left"&gt;Distribution expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,193.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,965.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,709.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,007.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(979.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,047.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,093.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,140.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,076.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6,295.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6,085.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,833.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Sales and marketing expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,655.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,671.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,264.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,091.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,317.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,294.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(873.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(936.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(785.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,620.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,925.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,344.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Administrative expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,954.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,486.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,599.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(384.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(400.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(428.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(285.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(279.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(253.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,623.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,166.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,281.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Other operating income/(expenses)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,170.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,283.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,871.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(39.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;60.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(21.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,217.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,223.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,936.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(56.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,183.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(273.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(41.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(41.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(39.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(11.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(43.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(108.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,134.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(357.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Income from operations (EBIT)&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,462.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,401.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,757.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,163.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,749.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,198.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,801.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,954.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,821.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,426.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,105.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,778.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net finance cost&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,693.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,694.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,842.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(709.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(439.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(868.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(91.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;431.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;443.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,493.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,702.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,268.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;Share of result of joint ventures&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Income before income tax&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,764.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,700.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,916.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,453.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,310.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,330.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,712.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,387.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,266.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,929.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,398.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,513.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Income tax expense&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,309.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,100.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,884.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,144.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(814.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,154.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(625.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(601.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(595.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,079.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(315.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,634.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Net income&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,454.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,800.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,032.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,309.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,496.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,176.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,086.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,786.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,670.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,850.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,083.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,879.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 8pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Normalized EBITDA&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(iii)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,233.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,805.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,274.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,866.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,501.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,877.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,047.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,176.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,057.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20,147.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,483.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,209.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(56.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,183.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(273.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(41.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(41.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(39.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(11.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(43.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(108.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,134.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(357.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Depreciation. amortization and impairment&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,715.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,586.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,242.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(662.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(710.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(639.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(234.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(214.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(192.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,612.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,512.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,074.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net finance costs&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,693.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,694.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,842.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(709.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(439.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(868.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(91.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;431.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;443.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,493.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,702.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,268.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt"&gt;Share of result of joint ventures&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Income tax expense&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,309.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,100.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,884.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,144.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(814.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,154.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(625.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(601.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(595.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,079.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(315.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,634.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Net income&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,454.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,800.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,032.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,309.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,496.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,176.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,086.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,786.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,670.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,850.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,083.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,879.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Normalized EBITDA margin in %&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;44.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;51.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;44.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;43.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Acquisition of property, plant and equipment&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,862.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,352.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,442.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,051.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,365.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,654.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;292.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;317.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;285.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,206.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,035.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,381.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Segment assets&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;48,811.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50,935.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47,282.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,558.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,149.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,757.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,204.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,245.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,264.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;70,575.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;71,329.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;69,304.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Intersegment elimination&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,077.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,968.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,996.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Non-segmented assets&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,354.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,479.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,868.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Total assets&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;86,851.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;83,841.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;90,176.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Segment liabilities&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;23,031.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,958.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20,998.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,015.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,576.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,093.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,700.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,275.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,608.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32,747.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,811.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29,701.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Intersegment elimination&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,077.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,968.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,996.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Non-segmented liabilities&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57,182.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;55,998.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;62,471.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Total liabilities&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;86,851.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;83,841.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;90,176.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="35" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Latin America - north&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;CAC&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;Brazil&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,733.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,973.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,328.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26,353.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24,954.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26,326.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,086.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,927.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29,654.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt"&gt;Cost of sales&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,045.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,798.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,563.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9,889.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9,071.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8,358.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(11,935.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10,870.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9,921.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Gross profit&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,687.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,174.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,765.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,463.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,882.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,967.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,151.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,057.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,733.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 8pt; text-align: left"&gt;Distribution expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(538.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(409.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(357.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,655.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,555.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,352.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,193.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,965.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,709.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Sales and marketing expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(526.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(456.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(390.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,129.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,214.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,873.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,655.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,671.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,264.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Administrative expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(265.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(171.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(158.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,689.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,314.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,441.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,954.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,486.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,599.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Other operating income/(expenses)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;77.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,092.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,274.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,871.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,170.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,283.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,871.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(23.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,196.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(265.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(56.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,183.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(273.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Income from operations (EBIT)&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,412.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,132.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;851.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,049.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,269.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,906.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,462.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,401.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,757.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net finance cost&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(46.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,646.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,685.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,885.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,693.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,694.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,842.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;Share of result of joint ventures&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Income before income tax&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,371.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,142.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;894.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,392.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,558.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,022.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,764.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,700.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,916.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Income tax expense&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(353.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(318.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(269.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,956.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,418.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,615.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,309.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,100.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,884.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Net income&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,018.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;823.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;624.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,436.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,976.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,407.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,454.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,800.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,032.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 8pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Normalized EBITDA&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(iii)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,842.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,483.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,173.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,391.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,321.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,100.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,233.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,805.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,274.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(23.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,196.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(265.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(56.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,183.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(273.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Depreciation, amortization and impairment&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(406.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(338.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(314.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,309.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,248.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,928.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,715.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,586.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,242.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net finance costs&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(46.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,646.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,685.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,885.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,693.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,694.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,842.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt"&gt;Share of result of joint ventures&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Income tax expense&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(353.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(318.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(269.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,956.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,418.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,615.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,309.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,100.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,884.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Net income&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,018.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;823.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;624.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,436.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,977.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,407.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,454.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,800.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,032.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Normalized EBITDA margin in %&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;38.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;37.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;43.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;44.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;51.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="35" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Brazil&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;Beer&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;Soft drink and &lt;br /&gt; Non-alcoholic and &lt;br /&gt; non-carbonated&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,509.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21,173.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,441.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,843.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,781.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,884.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26,353.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24,954.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26,326.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt"&gt;Cost of sales&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7,895.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7,339.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6,757.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,994.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,731.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,600.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9,889.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9,071.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8,358.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Gross profit&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,614.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,833.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,683.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,849.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,049.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,284.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,463.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,882.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,967.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 8pt; text-align: left"&gt;Distribution expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,961.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,891.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,754.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(694.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(663.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(598.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,655.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,555.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,352.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Sales and marketing expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,953.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,044.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,691.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(175.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(170.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(182.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,129.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,214.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,873.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Administrative expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,476.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,160.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,341.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(212.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(154.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(99.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,689.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,314.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,441.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Other operating income/(expenses)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;825.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;969.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,551.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;267.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;304.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;320.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,092.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,274.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,871.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(28.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,014.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(265.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;182.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,196.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(265.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Income from operations (EBIT)&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,020.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,721.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,182.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,029.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,547.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,723.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,049.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,269.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,906.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net finance cost&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,646.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,685.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,885.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,646.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,685.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,885.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;Share of result of joint ventures&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Income before income tax&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,362.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,010.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,299.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,029.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,547.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,723.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,392.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,558.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,022.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Income tax expense&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,956.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,418.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,615.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,956.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,418.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,615.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Net income&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,406.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,429.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,683.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,029.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,547.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,723.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,436.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,976.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,407.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 8pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Normalized EBITDA &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,047.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,618.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,038.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,344.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,702.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,061.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,391.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,321.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,100.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(28.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,014.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(265.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;182.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,196.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(265.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Depreciation, amortization and impairment&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,999.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,911.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,590.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(310.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(337.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(338.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,309.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,248.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,928.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net finance costs&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,646.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,685.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,885.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,646.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,685.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,885.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt"&gt;Share of result of joint ventures&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Income tax expense&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,956.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,418.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,615.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,956.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,418.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,615.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Net income&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,406.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,429.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,683.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,029.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,547.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,723.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,436.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,976.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,407.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Normalized EBITDA margin in %&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;44.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;43.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfReportableSegmentsTextBlock>
  <abev:DisclosureOfTermsAndDebtRepaymentsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-58">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Less than 1 year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;1-2 years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;2-3 years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;3-5 years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;More than 5 years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 34%; font-size: 10pt; text-align: left"&gt;Secured bank loans&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,468.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;879.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;253.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;109.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;168.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Unsecured bank loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;808.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;394.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;413.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Debentures and unsecured bond issues&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;102.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;102.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Unsecured other loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;139.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;38.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Finance lease liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,553.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,321.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;724.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;82.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;223.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;201.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfTermsAndDebtRepaymentsTextBlock>
  <abev:DisclosureOfTheAppliedRatesForDeferredIncomeAndSocialContributionTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-38">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 70%; font-size: 10pt; text-align: left"&gt;Central America and the Caribbean&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 5%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;from 23%&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 20%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Latin America &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;from 14%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Canada&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;26%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfTheAppliedRatesForDeferredIncomeAndSocialContributionTextBlock>
  <abev:DisclosureOfTheChangeInFairValueOfThePlanAssetsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-61">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair value of plan assets at January 1 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;st&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,845.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,781.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,550.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest Income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;273.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;274.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;259.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Administrative costs&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expected Return excluding interest income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(64.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;269.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(173.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisition through business combination&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;73.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Contributions by employer&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;183.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;175.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;107.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Contributions by plan participants&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Exchange differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;166.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(315.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;428.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Benefits paid excluding costs of administration&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(398.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(416.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(392.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Fair value of plan assets at December, 31&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,006.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,845.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,781.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfTheChangeInFairValueOfThePlanAssetsTextBlock>
  <abev:DisclosureOfTheComponentsOfTradePayablesTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-72">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Trade payables&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;175.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;237.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Non-current&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;175.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;237.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade payables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,418.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,793.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Related Parties&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,435.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,075.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Current&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,854.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,868.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,029.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,106.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfTheComponentsOfTradePayablesTextBlock>
  <abev:DisclosureOfTheDisbursementExpectativeOfTheProvisionsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-74">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Balance as of December 31, 2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;1 year or less&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;1-2 years&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2-5 years&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Over 5 years&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 45%; font-size: 10pt; font-weight: bold"&gt;Restructuring&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Provision for disputes and litigations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Taxes on sales&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;226.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;179.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Income tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;157.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Labor&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;129.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;77.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Civil&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;125.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;83.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total of provision for disputes and litigations&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;673.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;161.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;351.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;130.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total provisions&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;681.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;169.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;351.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;131.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfTheDisbursementExpectativeOfTheProvisionsTextBlock>
  <abev:DisclosureOfTheNumberOfShareOptionsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-69">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;Thousand options&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Options outstanding at January 1&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;st&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;131,244&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;121,770&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;126,149&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Options issued during the period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20,435&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24,806&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,568&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Options exercised during the period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13,548&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(11,613&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(19,975&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Options forfeited during the period&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,910&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,719&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(972&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Options outstanding at ended year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;135,221&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;131,244&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;121,770&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfTheNumberOfShareOptionsTextBlock>
  <abev:DisclosureOfTheRealizationOfDeferredTaxAssetsAndLiabilitiesTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-40">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Deferred taxes not related to tax losses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;to be realized until 12 months&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;to be realized after 12 months&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Total&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 67%; font-size: 10pt; text-align: left"&gt;Investment securities&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Intangible assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(719.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(719.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Employee benefits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;112.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;518.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;631.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade payables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,382.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(314.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,068.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivable&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;52.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Derivatives&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Inventories&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;230.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;230.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Property, plant and equipment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(58.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(862.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(920.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Withholding tax over undistributed profits and royalties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(788.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(788.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Investments in associates&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(421.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(421.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Provisions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;91.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;215.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;307.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other items&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(30.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(30.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,807.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,358.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(550.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfTheRealizationOfDeferredTaxAssetsAndLiabilitiesTextBlock>
  <abev:DisclosureOfTheReconciliationBetweenGrossSalesAndNetSalesTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-19">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Gross sales &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;72,411.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;79,551.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;97,214.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Excise duty&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16,192.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16,345.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(17,471.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Discounts &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8,318.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(17,603.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33,022.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47,899.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45,602.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;46,720.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfTheReconciliationBetweenGrossSalesAndNetSalesTextBlock>
  <abev:DisclosureOfTheReconciliationOfChangesInDeferredTaxLiabilityAssetTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-42">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 87%; font-size: 10pt; font-weight: bold"&gt;At December 31, 2015&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;276.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Full recognition of actuarial gains/(losses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Investment hedge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Investment hedge - put option of a subsidiary interest&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(364.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Cash flow hedge - gains/(losses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;536.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Gains/losses on translation of other foreign operations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(578.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Recognized in other comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(360.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Recognized in income statement&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;98.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Changes directly in balance sheet&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(75.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Recognized in deferred tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(21.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Anticipation federal amnesty&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(54.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(61.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Full recognition of actuarial gains/(losses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;40.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Investment hedge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(262.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Investment hedge - put option of a subsidiary interest&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(31.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Cash flow hedge - gains/(losses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(269.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 27pt"&gt;Gains/(losses) on translation of other foreign operations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;136.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Recognized in other comprehensive income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(387.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Recognized in income statement&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;253.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Changes directly in balance sheet&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;146.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Recognized in deferred tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Recognized in other group of balance sheet&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;110.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(49.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfTheReconciliationOfChangesInDeferredTaxLiabilityAssetTextBlock>
  <abev:DisclosureOfTotalLiabilitiesTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-56">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Secured bank loans&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;589.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;665.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Unsecured bank loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;413.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;609.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Debentures and unsecured bond issues&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;102.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other unsecured loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;101.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;356.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Financial leasing&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Non-current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,231.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,765.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Secured bank loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;879.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,381.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Unsecured bank loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;394.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,910.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Debentures and unsecured bond issues&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;296.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other unsecured loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;38.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Financial leasing&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,321.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,630.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfTotalLiabilitiesTextBlock>
  <abev:DisclosureOfWeightedAverageExercisePricesOfShareOptionsTextBlock contextRef="d_2017-01-01_2017-12-31" id="c-70">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;In R$ per share&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Options outstanding at January 1 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;st&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.87&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.36&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.07&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Options issued during the period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.82&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17.18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.42&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Options forfeited during the period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17.88&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.83&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20.35&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Options exercised during the period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.81&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.52&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.05&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Options outstanding at ended period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.27&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.87&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.36&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Options exercisable at ended period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.78&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.66&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.29&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</abev:DisclosureOfWeightedAverageExercisePricesOfShareOptionsTextBlock>
  <abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-BrandNamesMember" decimals="-5" id="c28294513" unitRef="iso4217-brl">-58000000</abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill>
  <abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-DistributionContractsMember" id="c28294514" unitRef="iso4217-brl" xs:nil="true"/>
  <abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-ComputerSoftwareMember" decimals="-5" id="c28294515" unitRef="iso4217-brl">-9400000</abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill>
  <abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-OtherIntangibleAssetsMember" decimals="-5" id="c28294516" unitRef="iso4217-brl">-100000</abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill>
  <abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-5" id="c28294517" unitRef="iso4217-brl">-67500000</abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill>
  <abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-BrandNamesMember" id="c28294554" unitRef="iso4217-brl" xs:nil="true"/>
  <abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-DistributionContractsMember" id="c28294555" unitRef="iso4217-brl" xs:nil="true"/>
  <abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-ComputerSoftwareMember" decimals="-5" id="c28294556" unitRef="iso4217-brl">8000000</abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill>
  <abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-OtherIntangibleAssetsMember" decimals="-5" id="c28294557" unitRef="iso4217-brl">100000</abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill>
  <abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-5" id="c28294558" unitRef="iso4217-brl">8100000</abev:DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill>
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  <abev:DisposalsThroughStockExchangePropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-FixturesAndFittingsMember" decimals="-5" id="c28294237" unitRef="iso4217-brl">-101300000</abev:DisposalsThroughStockExchangePropertyPlantAndEquipment>
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  <abev:DisposalsThroughStockExchangePropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-5" id="c28294239" unitRef="iso4217-brl">-571400000</abev:DisposalsThroughStockExchangePropertyPlantAndEquipment>
  <abev:DisposalsThroughStockExchangePropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndBuildingsMember" decimals="-5" id="c28294271" unitRef="iso4217-brl">52800000</abev:DisposalsThroughStockExchangePropertyPlantAndEquipment>
  <abev:DisposalsThroughStockExchangePropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-PlantAndEquipmentMember" decimals="-5" id="c28294272" unitRef="iso4217-brl">241700000</abev:DisposalsThroughStockExchangePropertyPlantAndEquipment>
  <abev:DisposalsThroughStockExchangePropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-FixturesAndFittingsMember" decimals="-5" id="c28294273" unitRef="iso4217-brl">51400000</abev:DisposalsThroughStockExchangePropertyPlantAndEquipment>
  <abev:DisposalsThroughStockExchangePropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" id="c28294274" unitRef="iso4217-brl" xs:nil="true"/>
  <abev:DisposalsThroughStockExchangePropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-5" id="c28294275" unitRef="iso4217-brl">345900000</abev:DisposalsThroughStockExchangePropertyPlantAndEquipment>
  <abev:DividendPercentageOfNetIncome contextRef="d_2017-01-01_2017-12-31_GeographicalAreasAxis-CountryOfDomicileMember_RangeAxis-TopOfRangeMember" decimals="2" id="c28294934" unitRef="xbrli-pure">0.4</abev:DividendPercentageOfNetIncome>
  <abev:DividendPercentageOfNetIncome contextRef="d_2016-01-01_2016-12-31_GeographicalAreasAxis-CountryOfDomicileMember_RangeAxis-TopOfRangeMember" decimals="2" id="c28309200" unitRef="xbrli-pure">0.4</abev:DividendPercentageOfNetIncome>
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  <abev:DividendPercentageOfNetIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NetIncomeReservesMember" decimals="2" id="c28295429" unitRef="xbrli-pure">0.63</abev:DividendPercentageOfNetIncome>
  <abev:DividendPercentageOfNetIncome contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-NetIncomeReservesMember" decimals="2" id="c28295430" unitRef="xbrli-pure">0.72</abev:DividendPercentageOfNetIncome>
  <abev:DividendPercentageOfNetIncome contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-NetIncomeReservesMember" decimals="2" id="c28295431" unitRef="xbrli-pure">0.74</abev:DividendPercentageOfNetIncome>
  <abev:DividendPercentageOfNetIncome contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NetIncomeReservesInvestmentReserveMember" decimals="2" id="c28295442" unitRef="xbrli-pure">1.14</abev:DividendPercentageOfNetIncome>
  <abev:DividendPercentageOfNetIncome contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-NetIncomeReservesInvestmentReserveMember" decimals="2" id="c28295443" unitRef="xbrli-pure">0.72</abev:DividendPercentageOfNetIncome>
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  <abev:DividendsAndInterestOnCapitalPaidBasedOnProfit contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NetIncomeReservesMember" decimals="-5" id="c28295420" unitRef="iso4217-brl">3612700000</abev:DividendsAndInterestOnCapitalPaidBasedOnProfit>
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  <abev:DividendsAndInterestOnCapitalPaidBasedOnProfit contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-NetIncomeReservesMember" decimals="-5" id="c28295422" unitRef="iso4217-brl">7218700000</abev:DividendsAndInterestOnCapitalPaidBasedOnProfit>
  <abev:DividendsAndInterestPaidOnShareholdersEquity contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NetIncomeReservesInvestmentReserveMember" decimals="-5" id="c28295433" unitRef="iso4217-brl">-3770100000</abev:DividendsAndInterestPaidOnShareholdersEquity>
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  <abev:DividendsAndInterestPaidOnShareholdersEquity contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-NetIncomeReservesInvestmentReserveMember" id="c28295435" unitRef="iso4217-brl" xs:nil="true"/>
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  <ifrs-full:DerivativeFinancialAssets contextRef="i_2016-12-31" decimals="-5" id="c28297227" unitRef="iso4217-brl">18400000</ifrs-full:DerivativeFinancialAssets>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2017-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-5" id="c28297253" unitRef="iso4217-brl">1700000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2017-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-5" id="c28297254" unitRef="iso4217-brl">14400000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2017-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c28297255" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2017-12-31" decimals="-5" id="c28297256" unitRef="iso4217-brl">16100000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2016-12-31_LevelsOfFairValueHierarchyAxis-Level1OfFairValueHierarchyMember" decimals="-5" id="c28297257" unitRef="iso4217-brl">9900000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2016-12-31_LevelsOfFairValueHierarchyAxis-Level2OfFairValueHierarchyMember" decimals="-5" id="c28297258" unitRef="iso4217-brl">40000000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2016-12-31_LevelsOfFairValueHierarchyAxis-Level3OfFairValueHierarchyMember" id="c28297259" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DerivativeFinancialLiabilities contextRef="i_2016-12-31" decimals="-5" id="c28297260" unitRef="iso4217-brl">49900000</ifrs-full:DerivativeFinancialLiabilities>
  <ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292619">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(q)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Interest-bearing loans and borrowings &lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Interest-bearing loans and borrowings are recognized initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing loans and borrowings are stated at amortized cost with any difference between the initial and maturity amount being recognized in the income statement over the expected life of the instrument on an effective interest rate basis. The Company has interest-bearing loans and borrowings covered by a hedge structure (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22&lt;/div&gt; &amp;#x2013; &lt;div style="display: inline; font-style: italic;"&gt;Interest-bearing loans and borrowings&lt;/div&gt;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Borrowing costs directly related to the acquisition, construction or production of a qualifying asset, that requires a substantial period of time to get ready for its intended use or sale, are capitalized as part of the cost of that asset when it is probable that future economic benefits associated with the item will flow to the Company and costs can be measured reliably. The other borrowing costs are recognized as finance costs in the period in which they are incurred.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292644">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;x&lt;/div&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Derivative financial instruments&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company uses derivative financial instruments in order to mitigate against risks related to foreign currency, interest rates and commodity prices. Derivative financial instruments that, although contracted for hedging purposes, do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; meet all hedge accounting criteria are recognized at fair value in the income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Derivative financial instruments are recognized initially at fair value. Fair value is the amount an asset could be realized and a liability settled, between knowledgeable parties, in an arm&amp;#x2019;s length transaction. The fair value of derivative financial instruments &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be obtained from quoted market prices or from pricing models that take into account current market rates, and also credit risk quality of the counterpart.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Subsequent to initial recognition, derivative financial instruments are re-measured to their fair value at the balance sheet date. Changes in fair value of derivative financial instruments are recognized in the income statement, except when they are designated as hedge instruments, when any effective portion of gain or loss is recognized directly in other comprehensive income.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Cash flow, net investment or fair value hedge accounting is applied to all hedges that qualify for hedge accounting under IAS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39,&lt;/div&gt; including the required hedge documentation and hedge effectiveness tests.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 196; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cash flow hedge accounting&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When a derivative financial instrument hedges the variability in cash flows of a recognized asset or liability, the foreign currency risk and the fluctuation of commodity prices associated with a highly probable forecasted transaction, the effective portion of any resulting gain or loss on the derivative financial instrument is recognized directly in other comprehensive income (cash flow hedging reserve). The ineffective portion of any resulting gain or loss is recognized in the income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When a hedging instrument or hedge relationship is terminated but the hedged transaction is still expected to occur, the cumulative gain or loss (at that point) remains in other comprehensive income and is reclassified in accordance with the above policy when the hedged transaction occurs. If the hedged transaction is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; longer probable, the cumulative gain or loss recognized in other comprehensive income is recycled into the income statement immediately.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair value hedge accounting&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When a derivative financial instrument hedges the variability in fair value of a recognized asset or liability or a firm commitment, any resulting gain or loss on the hedging instrument is recognized in the income statement. The hedged item is also stated at fair value in respect of the risk being hedged, with any gain or loss being recognized in the income statement. The Company does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; apply the fair value hedge accounting when the hedge item expires, was sold or exercised.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Net investment hedge accounting&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When a derivative financial instrument hedges the net investment in foreign operations, the effective part of any resulting gain or loss on the derivative financial instrument is recognized directly in other comprehensive income (translation reserve) , while any gains or losses relating to the ineffective portion are recognized in the income statement&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On disposal of a foreign operation, the cumulative gains or losses recognized directly in other comprehensive income is transferred to the income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Derivative financial instruments at fair value through profit or loss&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Certain derivative financial instruments do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; qualify for hedge accounting purposes. Changes in fair value of such derivatives financial instruments are immediately recognized in income statement.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292623">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(r)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Employee benefits&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Post-employment benefits&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Post-employment benefits include pensions managed in Brazil by Instituto Ambev de Previd&amp;ecirc;ncia Privada &amp;#x2013; IAPP, post-employment dental benefits and post-employment medical benefits managed by Funda&amp;ccedil;&amp;atilde;o Zerrenner. Usually, pension plans are funded by payments made by both the Company and its employees, taking into account the recommendations of independent actuaries. Post-employment dental benefits and post-employment medical benefits are maintained by the return on Funda&amp;ccedil;&amp;atilde;o Zerrenner&amp;#x2019;s plan assets. If necessary, the Company &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;contribute some of its profit to the Funda&amp;ccedil;&amp;atilde;o Zerrenner.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company manages defined benefit and defined contribution plans for employees of its companies located in Brazil and in its subsidiaries located in Dominican Republic, Panama, Uruguai, Bolivia and Canada.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company maintains funded and unfunded plans.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;r.1&lt;/div&gt;) Defined contribution plans&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;A defined contribution plan is a pension plan under which the Company pays fixed contributions into a fund. The Company has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; legal or constructive obligations to pay further contributions if the fund does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; hold sufficient assets to pay all employees for the benefits relating to employee service in the current and prior periods.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 189; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The contributions of these plans are recognized as expense in the period they are incurred.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;r.2&lt;/div&gt;) Defined benefit plans&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; or more factors such as age, years of service and compensation.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For defined benefit plans, expenses are assessed separately for each plan using the projected credit unit method. The projected credit unit method takes into account each period of service as giving rise to an additional unit of benefit to measure each unit separately. Under this method, the cost of providing pensions is charged to the income statement during the period of service of the employee. The amounts charged to the income statement consist of current service cost, interest cost, past service costs and the effect of any settlements and curtailments. The obligations of the plan recognized in the balance sheet are measured at the present value of the estimated future cash outflows using a discount rate equivalent to the government&amp;acute;s bond rates with maturity terms similar to those of the obligation and the fair value of the plan assets.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Past service costs result from the introduction of a new plan or changes to an existing plan. They are recognized immediately in the income statement, at the earlier of when: (i) the settlements / curtailments occurs, or (ii) the Company recognizes related restructuring or termination costs, unless those changes are conditioned to the employee&amp;#x2019;s continued employment, for a specific period of time (the period in which the right is acquired). In such case, the past services costs are amortized using the straight-line method during the period in which the right was acquired.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Actuarial gains and losses consist of the effects of differences between the previous actuarial assumptions and what has actually occurred, and the effects of changes in actuarial assumptions. Actuarial gains and losses are fully recognized in Carrying value adjustments.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Re-measurements, comprising of actuarial gains and losses, the effect of the asset ceiling and the return on plan assets, both excluding net interest, are recognized in full in the period in which they occur in the statement of comprehensive income. Re-measurements are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; reclassified to profit or loss in subsequent periods.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 190; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When the amount of the defined benefit obligation is negative (an asset), the Company recognizes those assets (prepaid expenses), to the extent of the value of the economic benefit available to the Company either from refunds or reductions in future contributions.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Other post-employment obligations&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company and its subsidiaries provide post-employment medical benefits, reimbursement of medication expenses and other benefits to certain retirees through Funda&amp;ccedil;&amp;atilde;o Zerrenner. These benefits are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; granted to new retirees. The expected costs of these benefits are recognized over the period of employment, using an accounting methodology similar to that for defined benefit plans, including actuarial gains and losses.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Termination benefits&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Termination benefits are recognized as an expense at the earlier of: (i) when the Company is demonstrably committed, without realistic possibility of withdrawal, to a formal detailed plan to terminate employment before the normal retirement date, and (ii) when the Company recognizes costs for a restructuring.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Bonuses&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Bonuses granted to employees and managers are based on pre-defined company and individual target achievement. The estimated amount of the bonus is recognized as an expense in the period the bonus is earned.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForExceptionalItemsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292588">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(h)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Exceptional items&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Exceptional items are those that in Management&amp;#x2019;s judgment need to be disclosed separately by virtue of their size or incidence. In determining whether an event or transaction is special, Management considers quantitative as well as qualitative factors such as the frequency or predictability of occurrence, and the potential of impact on the variation of profit or loss. These items are disclosed in the income statement or separately disclosed in the notes to the financial statements. Transactions that &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;give rise to exceptional items are principally restructuring activities, acquisition of subsidiaries, impairment losses, and gains or losses on disposal of assets and investments.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForExceptionalItemsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292584">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(g)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Expenses&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Royalty expenses&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Royalties are classified as cost of goods sold.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Finance costs&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Finance costs comprise interest payable on borrowings, calculated using the effective interest rate method, foreign exchange losses, losses on currency hedging instruments offsetting currency gains, results on interest rate hedging instruments, losses on hedging instruments that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; part of a hedge accounting relationship, losses on financial assets classified as held for trading, impairment losses on financial assets classified as available for sale, as well as any losses from hedge ineffectiveness.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 182; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;All interest costs incurred in connection with borrowings or financial transactions are expensed as incurred as part of finance costs, except when capitalized. Any difference between the initial amount and the maturity amount of interest bearing loans and borrowings, such as transaction costs and fair value adjustments, are recognized in the income statement over the expected life of the instrument on an effective interest rate method. The interest expense component of finance lease payments is also recognized in the income statement using the effective interest rate method.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292637">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(v)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Financial assets and liabilities&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Classification&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company classifies its financial assets and liabilities in the following categories: (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;) at fair value through profit or loss, (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;) loans and receivables, (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt;) held to maturity and (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4&lt;/div&gt;) available for sale. The classification depends on the purpose for which the financial instruments were acquired. Management determines the classification of its financial assets at initial recognition.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 192; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;) Financial assets and liabilities at fair value through profit or loss&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Financial assets and liabilities at fair value through profit or loss are financial instruments held for trading. A financial asset is classified in this category if acquired principally for the purpose of being sold in the short term. Derivatives are also categorized as held for trading unless they are designated as hedges.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In general, financial instruments of this category are classified as short-term investments securities, on current assets. Investments with maturities beyond &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; year &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be classified as short-term based on Management's intent and ability to withdraw them within less than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; year, as well as, considering their highly liquid nature and the fact that they represent cash available to fund current operations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;) Loans and receivables&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Loans and receivables are non-derivative financial assets with fixed or determinable payments that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; quoted in an active market. They are included in current assets, except for maturities greater than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt; months after the end of the reporting period (these are classified as non-current assets).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt;) Investments held to maturity&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Investments held to maturity are financial assets acquired with the intention and financial ability to hold them in the portfolio until maturity.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4&lt;/div&gt;) Available-for-sale financial assets&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Available-for-sale financial assets are non-derivative financial assets &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; classified in any other category. Available-for-sale financial assets are classified as non-current assets, unless Management intends to dispose of the investment within &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt; months of the end of the reporting period.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Investments in debt and equity securities are classified in this category. Equity instruments are undertakings in which the Company does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; have significant influence or control.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Recognition and measurement&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Purchases and sales of financial assets and liabilities are recognized on the trade date - the date on which the Company undertakes to buy or sell the asset.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 193; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Financial assets and liabilities are realized when the rights to receive cash flows from investments have expired or have been transferred, in this case, when the Company has transferred substantially all risks and benefits of ownership.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;) Financial assets and liabilities at fair value through profit or loss&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Financial assets and liabilities at fair value through profit and loss are initially recognized at fair value and transaction costs are charged to the income statement. Subsequently, they are carried at fair value. Gains or losses arising from changes in the fair value of financial instruments at fair value through profit or loss are presented in the income statement in the period in which they arise.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;) Loans and receivables&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Loans and receivables are carried at amortized cost using the effective interest rate.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt;) Investments held to maturity&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Investments held to maturity are initially recognized at fair value plus any directly attributable transaction costs. After initial recognition, investments held to maturity are measured at amortized cost using the effective interest method, reduced by any on loss impairment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4&lt;/div&gt;) Available-for-sale financial assets&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Available-for-sale financial assets are initially measured at fair value. Interest and inflation monetary adjustments are recognized in income. Subsequently, available-for-sale financial assets are measured at fair value, with changes in fair value recognized in other comprehensive income, and interests (measured using the effective interest rate method), recognized in income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When available-for-sale financial assets are settled or become impaired, the accumulated fair value adjustments recognized in other comprehensive income are included in the income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The fair values of investments with public quotations are based on current bid prices. If the market for a financial asset (and for unlisted securities on the stock exchange) is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; active, the Company establishes fair value by using valuation techniques. These techniques include the use of recent transactions with &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; parties, reference to other instruments that are substantially similar, analysis of discounted cash flows and option pricing models making maximum use of information from the market and with the least possible information generated by the Company's management.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 194; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Impairment of financial assets&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Management assesses at the end of each reporting period whether there is objective evidence that a financial asset or group of financial assets is impaired. If any such indication exists, the asset&amp;#x2019;s recoverable amount is estimated. A financial asset or a group of financial assets is impaired and an impairment loss is recorded only if there is objective evidence of impairment as a result of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; or more events that occurred after the initial recognition of the asset (&amp;#x201c;loss event&amp;#x201d;) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Offsetting of financial instruments&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Financial assets and liabilities are offset and the net amount presented in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292574">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(d)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Foreign currency translation&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 46.75pt 0pt 76.55pt; font-size: 10pt; text-align: justify; text-indent: -76.55pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 46.75pt 0pt 76.55pt; font-size: 10pt; text-align: justify; text-indent: -76.55pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Functional and presentation currency&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The items included in the financial statements of each subsidiary of the Company are measured using the currency of the primary economic environment in which the entity operates (&amp;#x201c;functional currency&amp;#x201d;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The functional and presentation currency of the Company financial statements is the Brazilian Real.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Transactions and balances&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Foreign currency transactions are accounted for at exchange rates prevailing at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the balance sheet date rate. Non-monetary assets and liabilities denominated in foreign currencies are translated at the foreign exchange rate prevailing at the date of the transaction. Non-monetary assets and liabilities denominated in foreign currencies that are stated at fair value are translated at exchange rates ruling at the dates the fair value was determined. Gains and losses arising from the settlement of transactions in foreign currencies and resulting from the conversion of assets and liabilities denominated in foreign currencies are recognized in the income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The foreign exchange gains and losses related to loans and cash and cash equivalents are presented in the income statement as finance cost or finance income.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Conversion of the financial statements of subsidiaries located abroad&lt;/div&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 179; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Assets and liabilities of subsidiaries located abroad are translated at foreign exchange rates prevailing at the balance sheet date, while amounts from income statement and cash flows are translated at average exchange rates for the year and the changes in equity are translated at historical exchange rates of each transaction. The translation adjustments arising from the difference between the average exchange rates and the historical rates are recorded directly in Carrying value adjustments.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On consolidation, exchange differences arising from translation of equity in foreign operations and borrowings and other currency instruments designated as net investment hedges are recognized in Carrying value adjustments, an equity reserve, and included in Other comprehensive income.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Net investment in a foreign operation&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;An entity &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;have a monetary item that is receivable from or payable to a foreign operation which settlement is neither planned nor likely to occur in the foreseeable future and do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; include trade receivables or trade payables. Exchange differences arising shall be recognized initially in other comprehensive income and reclassified from equity to profit or loss on disposal of the net investment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Exchange rates&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The most significant exchange rates used in the preparation of the Company&amp;#x2019;s financial statements are as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Closing rate&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Average rate&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Currency&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Name&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Country&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 12%; font-size: 10pt"&gt;CAD&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Canadian Dollars&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Canada and Cuba&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.6380&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.4214&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.8124&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.4567&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.6348&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.5661&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;DOP&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dominican Pesos&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dominican republic&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0685&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0700&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0860&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0674&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0755&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0725&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;US Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Ecuador &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;, Panam&amp;aacute; and Cuba&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.3080&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2591&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.9048&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2017&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.4749&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2596&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;GTQ&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Quetzal&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Guatemala&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4500&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4343&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.5129&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4344&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4570&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4265&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;PEN&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Novo Sol&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Peru &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.9720&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1440&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0269&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0396&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;ARS&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Argentinean Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Argentina&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1762&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.2056&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3003&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1931&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.2354&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3581&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;BOB&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Bolivian Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Bolivia&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4753&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4683&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.5610&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4600&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4993&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4683&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;PYG&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Guarani&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Paraguai&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0006&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0006&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0007&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0006&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0006&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0006&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;UYU&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Uruguayan Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Uruguay&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1151&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1114&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1304&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1116&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1166&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1197&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;CLP&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Chilean Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Chile&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0054&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0049&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0055&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0049&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0051&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0050&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;COP&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Peso colombiano&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Col&amp;ocirc;mbia &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0011&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0011&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;BBD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Barbadian Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Barbados&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6307&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6075&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.5783&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.7139&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(i) Until &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016, &lt;/div&gt;due to exchange of shareholdings&lt;div style="display: inline; font-weight: bold;"&gt;, &lt;/div&gt;according the Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; - &lt;div style="display: inline; font-style: italic;"&gt;Corporate information&lt;/div&gt;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(ii) The functional currency of Cuba, the Cuban convertible peso (&amp;#x201c;CUC&amp;#x201d;), has a fixed parity with the dollar (&amp;#x201c;USD&amp;#x201d;) at balance sheet date.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 180; Value: 1 --&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292563">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(a)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Basis of preparation and measurement&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; color: windowtext"&gt;The financial statements are presented in &lt;/div&gt;million &lt;div style="display: inline; color: windowtext"&gt;of Brazilian Real (&amp;#x201c;R$&amp;#x201d;), &lt;/div&gt;unless otherwise indicated, rounded to the nearest million indicated&lt;div style="display: inline; color: windowtext"&gt;. The measurement basis used in preparing the financial statements is historical cost, net realizable value, fair value or recoverable amount.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292598">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(k)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Goodwill&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Goodwill arises on the acquisition of subsidiaries, associates and joint arrangements.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Goodwill is determined as the excess (i) of the consideration paid; (ii) of the amount of any non-controlling interests in the acquiree (when applicable); and (iii) of the fair value, at acquisition date, of any previous equity interest in the acquiree, over the fair value of the net identifiable assets acquired at the date of acquisition. All business combinations are accounted for by applying the purchase method.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In conformity with IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Business Combinations&lt;/div&gt;, goodwill is carried at cost and is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; amortized, but tested for impairment at least annually, or whenever there are indications that the cash generating unit to which the goodwill has been allocated &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be impaired. Impairment losses recognized on goodwill are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; reversed. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 185; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Goodwill is expressed in the functional currency of the subsidiary or joint operation to which it relates and translated to &lt;div style="display: inline; font-style: italic;"&gt;Reais&lt;/div&gt; using the year-end exchange rate.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Regarding associates and joint ventures, goodwill is included in the carrying amount of the investment in the associate/joint ventures.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;If the Company&amp;#x2019;s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognized exceeds the cost of the business combination such excess is recognized immediately in the income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Expenditure on internally generated goodwill is expensed as incurred.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Goodwill includes the effects of the predecessor basis of accounting (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; (c)).&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants contextRef="d_2017-01-01_2017-12-31" id="c28292651">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(z)&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Government grants&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company has benefits from Brazilian state tax incentive programs to promote industrial development including the deferral of payment of taxes. These State programs are to promote long-term increases in employment, industrial decentralization, as well as complement and diversify the industrial states.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In the case of these States, the tax terms are foreseen in tax law. When conditions to obtain these grants exist, they are under the Company's control. The benefits for the postponement in the payment of such taxes are recorded in the income statement, on an accrual basis.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; background-color: white"&gt;The interest rates and (or) terms of these loans are advantageous over the market conditions, such financing are considered as subsidized loans as determined by IAS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20.&lt;/div&gt; The referred subsidy consists of the gain earned when comparing the value of these operations in market to the value agreed in contract. Thereby, upon funding the subsidy calculated is recorded in Other operating income, following the treatment for the other ICMS subsidies. Management reviews annually the market conditions prevailing in the year to assess such subsidies.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; background-color: white"&gt;Monthly, taking into account the value of the consideration, the period to maturity, the financing contract interest rate and the above mentioned discount rate, the reduction in present value adjustment is allocated to financial income, so as to bring the balance to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;zero&lt;/div&gt; by the time of settlement of each consideration.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants>
  <ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292640">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(w)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Impairment of non-financial assets&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The carrying amounts of non-financial assets, such as property, plant and equipment, goodwill and intangible assets are reviewed, at least, at each reporting date to determine whether there is any indication of impairment. If any such indication exists, the asset&amp;#x2019;s recoverable amount is estimated.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Goodwill, intangible assets that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; yet available for use and intangibles with an indefinite useful life are tested for impairment at least annually at the business unit level (which is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; level below the reportable segment) or whenever there is any indication of impairment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;An impairment loss is recognized whenever the carrying amount of an asset or the related cash-generating unit exceeds its recoverable amount. Impairment losses are recognized in the income statement. Intangible assets with an indefinite useful life are tested on a fair value approach applying multiples that reflect current market transactions to indicators that drive the profitability of the asset or the royalty stream that could be obtained from licensing the intangible asset to another party in an arm&amp;#x2019;s length transaction.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 195; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The recoverable amount of other assets is determined as the higher of their fair value less costs to sell and value in use. For an asset that does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; generate largely independent cash inflows, the recoverable amount is determined for the cash-generating unit to which the asset belongs. The recoverable amount of the cash-generating units to which the goodwill and the intangible assets with indefinite useful life belong is based on a discounted free cash flow approach, using a discount rate that reflects current valuation models of the time value of money and the risks specific to the asset. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded subsidiaries or other available fair value indicators.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate before taxes that reflects current market assessments of the time value of money and the risks specific to the asset.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Non-financial assets, except by goodwill are reviewed for possible reversal of the impairment at the reporting date. Impairment losses are reversed only to the extent that the asset&amp;#x2019;s carrying amount does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; exceed the carrying amount that would have been determined, net of depreciation or amortization, if &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; impairment loss had been recognized.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292592">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(i)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Income tax and social contribution&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Income tax and social contribution for the year comprises current tax and deferred tax. Income tax and social contribution are recognized in the income statement, unless they relate to items recognized directly in comprehensive income or other equity accounts. In these cases the tax effect is also recognized directly in comprehensive income or equity account (except interest on shareholder&amp;#x2019;s equity. See Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; (p)).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The current tax expense is the expectation of payment on the taxable income for the year, using tax rates enacted, or substantially enacted, at the balance sheet date, and any adjustment to tax payable in respect of previous years.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The deferred taxes are recognized using the balance sheet liability approach. This means that a deferred tax liability or asset is recognized for all taxable and tax deductible temporary differences between the tax and accounting basis of assets and liabilities. Under this method, a provision for deferred taxes is also calculated on the differences between the fair value of assets and liabilities acquired in a business combination and their tax basis. IAS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt; prescribes that &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; deferred tax liability on goodwill recognition, and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; deferred tax asset/liability is recorded: (i) at the initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss; and (ii) on differences related to investments in subsidiaries to the extent that they are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; reversed in the foreseeable future. The amount of deferred tax provided is based on the expectation of the realization or settlement of the temporary difference, using currently or substantially enacted tax rates.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 183; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The deferred tax asset is recognized only to the extent that it is likely that future taxable profits will be available. The deferred income tax asset is reduced to the extent that it is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; longer probable that the future taxable benefit will occur.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292602">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(l)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Intangible assets&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Brands&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When part of the consideration paid in a business combination is related to brands, these are recognized in a specific Intangible Assets account and measured at fair value at the acquisition date. Subsequently, the value of brands can be reduced in case of impairment losses. Internally generated expenditures for developing a brand are recognized as expenses.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Software&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Purchased software is measured at cost less accumulated amortization.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Amortization related to software is included in cost of sales, distribution and sales expenses, marketing expenses or administrative expenses based on the activity the software supports.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Other intangible assets&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Other intangible assets, acquired by the Company, are stated at acquisition cost less accumulated amortization and impairment losses.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Other intangible assets also include multi-year sponsorship rights acquired by the Company. These are initially recognized at the present value of the future payments and subsequently measured at cost less accumulated amortization and impairment losses.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 186; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Amortization&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Intangible assets with definite useful lives are amortized based on the straight-line method over their estimated useful lives. Licenses, supply and distribution rights are amortized over the period in which the rights exist. Brands are considered to have an indefinite life and, therefore, are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; amortized. Software and capitalized development cost related to technology are amortized over &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt; years.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Items that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; amortized are tested for impairment on an annual basis.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292616">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(p)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Equity&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Issued capital&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company's issued capital consists only of common shares.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Repurchase of shares&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When the Company buys back its own shares, the amount paid, including any additional costs directly attributable is recognized as a deduction from equity attributable to shareholders, in &amp;#x201c;Treasury shares&amp;#x201d; line item.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Share issuance costs&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Incremental costs directly attributable to the issuance of new shares or options are presented in equity as a deduction, net of tax, from the proceeds.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Dividends and Interest on shareholder&amp;#x2019;s equity&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Dividends and interest on shareholder&amp;#x2019;s equity are recognized in the liability on the date that are approved on Board of Directors Meeting, except the minimum statutory dividends provided by the Company&amp;#x2019;s bylaws, that are recognized as a liability when applicable, at the end of each fiscal year.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The expense of interest attributable to capital to shareholders is recognized in income for calculation of Brazilian income and social contribution tax and after are reclassified from shareholders' equity for presentation purposes in financial statements.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 188; Value: 1 --&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292647">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(y)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Accounting for operating leases&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Leases of assets under which all the risks and rewards of ownership are substantially retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the income statement on a straight-line basis over the term of the lease.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When an operating lease is terminated before the lease period has expired, any payment required to be made to the lessor by way of penalty is recognized as an expense in the period in which termination takes place.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories contextRef="d_2017-01-01_2017-12-31" id="c28292605">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(m)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Inventories&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Inventories are initially recorded at the acquisition cost and subsequent valued at the lower of cost and net realizable value. Cost includes expenditure incurred in acquiring the inventories and bringing them to their existing location and condition. The weighted average method is used in determining the cost of inventories.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The cost of finished products and work in progress comprises raw materials, other production materials, direct labor, other direct costs, gains and losses with derivative financial instruments, and an allocation of fixed and variable overhead based on normal operating capacity. Net realizable value is the estimated selling price in the ordinary course of business, less the cost for bringing inventories to sales conditions and selling costs.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Inventories have their amount reduced on a case-by-case basis if the anticipated net realizable value declines below its carrying amount. The calculation of the net realizable value takes into consideration specific characteristics of each inventory category, such as expiration date, remaining shelf life, slow-moving indicators, amongst others.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories>
  <ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292595">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(j)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Property, plant and equipment&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Property, plant and equipment are measured at cost less accumulated depreciation and impairment losses. The cost includes the purchase price, borrowing cost incurred during the construction period and any other costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management (e.g. nonrefundable tax, transport and the costs of dismantling and removal and site restoration, if applicable). The cost of a self-constructed asset is determined using the same principles as for an acquired asset. The depreciation methods, residual value, as well as the useful lives are reassessed and adjusted if appropriate, annually.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets are capitalized as part of the cost of such assets.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Land is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; depreciated since it is deemed to have an indefinite life.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Property, plant and equipment, and depreciation include the effects of the predecessor basis of accounting, according the Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; - &lt;div style="display: inline; font-style: italic;"&gt;Corporate information&lt;/div&gt;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Subsequent expenditures&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company recognizes in the carrying amount of an item of property, plant and equipment the cost of replacing a component of such an item if it is probable that the future economic benefits embodied with the item will flow to the Company and the cost of the item can be measured reliably. All other costs are expensed as incurred.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 184; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Depreciation&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The depreciable amount is the cost of an asset less its residual value. Residual values, if &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; insignificant, are reassessed annually. Depreciation is calculated from the date the asset is available for use, using the straight-line method over the estimated useful lives of the assets.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The estimated useful lives of major property, plant and equipment classes as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 70%; font-size: 10pt; text-align: left"&gt;Buildings (years)&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 20%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;25&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Plant and equipment (years)&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;15&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Fixtures (years)&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;10&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Fittings (years)&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;10&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;External use assets (years)&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; - &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The assets residual values and useful lives are reviewed at least annually. Management uses judgment to assess and ascertain the useful lives of these assets.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Gains and losses on sale&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Gains and losses on sales are determined by comparing the results with the carrying amount and are recognized in Other operating income/(expenses) in the income statement.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292633">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(u)&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Provisions&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Provisions are recognized when: (i) the Company has a present obligation (legal or constructive) as a result of past events; (ii) it is likely that a future disbursement will be required to settle the current obligation; and (iii) a reliable estimate of the amount of the obligation can be made.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Provisions, except for the mentioned on item disputes and litigation, are determined discounting the expected future cash flows, to a pre-tax rate, that reflects the current market assessments of the time value of money and, where appropriate, the risks specific to the liability. The increase accruals are recognized as finance expense.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Restructuring&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;A provision for restructuring is recognized when the Company has approved a detailed restructuring plan, and the restructuring has either commenced or has been announced. Costs relating to the ongoing and future activities of the Company are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; provided for, but recognized when expenses are incurred.. The provision includes the benefit commitments in connection with early retirement and redundancy schemes.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Disputes and Litigations&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;A provision for disputes and litigation is recognized when it is more likely than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; that the Company will be required to make future payments as a result of past events. Such items &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;include but are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; limited to, several claims, suits and actions filed by or against the Company relating to antitrusts laws, violations of distribution and license agreements, environmental matters, employment-related disputes, claims from tax authorities, and other litigation matters..&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue contextRef="d_2017-01-01_2017-12-31" id="c28292581">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(f)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Revenue recognition&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company recognizes revenue when the amount of revenue can be measured reliably and it is probable that economic benefits associated with the transaction will flow to the Company.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 181; Value: 1 --&gt; &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Revenue comprises the fair value of the amount received or receivable upon selling products or rendering services in the ordinary course of business. Revenue is presented net of taxes, returns, rebates and discounts, as well as net of elimination of sales between group companies.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Goods sold&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In relation to the sale of goods, revenue is recognized when the significant risks and rewards of ownership have been transferred to the buyer, and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; significant uncertainties remain regarding recovery of the consideration due, the costs associated with the possible return of the products, and when there is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; continuing management involvement with the goods. Revenue from the sale of goods is measured at the fair value of the consideration (price) received or receivable, net of returns, commercial deductions and discounts.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As part of its commercial policy, the Company provides unconditional discounts to its customers, which are recorded as s deductions at the time of sales.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Finance income&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Finance income consists of interest received or receivable on funds invested, foreign exchange gains, gains on currency hedging instruments offsetting currency losses, gains on hedging instruments that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; part of a hedge accounting relationship, gains on financial assets classified as held for trading, as well as any gains from hedge ineffectiveness.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Interest income is recognized on an accrual basis unless collectability is in doubt.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue>
  <ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292577">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(e)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Segment reporting&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Reportable segments are identified based on internal reports regularly reviewed by the chief operating decision maker of the Company for purposes of evaluating the performance of each segment and allocating resources to those segments. Accordingly, segment information is presented on geographical areas, since the risks and rates of return are affected predominantly by the fact that the Company operates in different regions. The Company&amp;#x2019;s management structure and the information reported to the chief decision are structured the same way.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The performance information by business units (Beer and Soft drink (&amp;#x201c;CSD&amp;#x201d;) and Non-alcoholic and non-carbonated (&amp;#x201c;NANC&amp;#x201d;)), is also used by the decision maker for the Company and is presented as additional information, even though it does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; qualify as a reportable segment. Internally, the Company&amp;#x2019;s management uses performance indicators, such as earnings of consolidated operation before interest and taxes (EBIT) and normalized earnings of consolidated operation before interest, taxes, depreciation and amortization (normalized EBITDA) as measures of segment performance to make decisions about resource allocation and performance analysis of consolidated operation. These indicators are reconciled to the profit of the segment in the tables on Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;&amp;#x2013; Segment reporting&lt;/div&gt;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company operates its business through &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; zones identified as reportable segments:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;#x25aa; Latin America North, which includes our operations (a) in Brazil and Luxembourg, where we operate &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; business sub units: (i) beer and (ii) CSD and NANC; and (b) in Central America Operations (&amp;#x201c;CAC&amp;#x201d;), which includes our operations in the Dominican Republic (which also serves the islands of the Caribbean: Saint Vincent, Dominica, Antigua and Barbados), Guatemala (which also serves El Salvador and Nicaragua), Cuba and Panama;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;#x25aa; Latin America South, which includes our operations in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;#x25aa; Canada, represented by Labatt&amp;#x2019;s operations.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292626">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(s)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Share-based payments&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Different share and share option programs allow management and other members appointed by the Board of Directors to acquire shares of the Company. The fair value of the share options is estimated at grant date, using an option pricing model that is most appropriate for the respective option. Based on the expected number of options that will be exercised, the fair value of the options granted is recognized as an expense over the vesting period with a credit to equity. When the options are exercised, equity is increased by the amount of the proceeds received.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292630">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(t)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Trade payables&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Trade payables are recognized initially at fair value and subsequently at amortized cost using the effective interest method.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 191; Value: 1 --&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory contextRef="d_2017-01-01_2017-12-31" id="c28292609">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(n)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Trade receivables&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Accounts receivable are initially recognized at fair value and subsequently at amortized cost, less provision for losses on doubtful accounts. An allowance for impairment of trade receivables is established when there is objective evidence that the Company will &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be able to collect all amounts due according to the original terms of the receivables. An allowance for impairment loss is recorded for an amount considered sufficient by management to cover probable losses upon the realization of receivables. The amount of the allowance is the difference between the asset&amp;#x2019;s carrying amount and the present value of the estimated future cash flows. The allowance for impairment loss is recognized in the income statement, as are subsequent recoveries of previous impairments. Historically, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; significant losses in trade receivables have been experienced.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory>
  <ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents contextRef="d_2017-01-01_2017-12-31" id="c28292612">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(o)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cash and cash equivalents&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Cash and cash equivalents include all cash balances, bank deposits, and short-term highly liquid investments with original maturities of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; months or less with insignificant risks of changes in value, &lt;div style="display: inline; font-weight: normal"&gt;and &lt;/div&gt;readily convertible into cash. They are stated at face value, which approximates their fair value.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For the purpose of the cash flow statement, cash and cash equivalents are presented net of bank overdrafts, when applicable.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents>
  <ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c28296012" unitRef="xbrli-pure">0.267</ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted>
  <ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted contextRef="d_2016-01-01_2016-12-31" decimals="INF" id="c28296014" unitRef="xbrli-pure">0.27</ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted>
  <ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted contextRef="d_2015-01-01_2015-12-31" decimals="INF" id="c28296016" unitRef="xbrli-pure">0.275</ifrs-full:DescriptionOfExpectedVolatilityShareOptionsGranted>
  <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted contextRef="d_2017-01-01_2017-12-31_TypesOfSharebasedPaymentArrangementsAxis-GrantOneMember" decimals="INF" id="c28295952" unitRef="xbrli-pure">5</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
  <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted contextRef="d_2017-01-01_2017-12-31_TypesOfSharebasedPaymentArrangementsAxis-GrantTwoMember" decimals="INF" id="c28295954" unitRef="xbrli-pure">5</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
  <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted contextRef="d_2017-01-01_2017-12-31_TypesOfSharebasedPaymentArrangementsAxis-LotAMember" decimals="INF" id="c28295956" unitRef="xbrli-pure">5</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
  <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted contextRef="d_2017-01-01_2017-12-31_TypesOfSharebasedPaymentArrangementsAxis-LotBMember" decimals="INF" id="c28295957" unitRef="xbrli-pure">10</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
  <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c28296018" unitRef="xbrli-pure">5</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
  <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted contextRef="d_2016-01-01_2016-12-31" decimals="INF" id="c28296020" unitRef="xbrli-pure">5</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
  <ifrs-full:DescriptionOfOptionLifeShareOptionsGranted contextRef="d_2015-01-01_2015-12-31" decimals="INF" id="c28296022" unitRef="xbrli-pure">5</ifrs-full:DescriptionOfOptionLifeShareOptionsGranted>
  <ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c28296030" unitRef="xbrli-pure">0.101</ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted>
  <ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted contextRef="d_2016-01-01_2016-12-31" decimals="INF" id="c28296032" unitRef="xbrli-pure">0.124</ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted>
  <ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted contextRef="d_2015-01-01_2015-12-31" decimals="INF" id="c28296034" unitRef="xbrli-pure">0.159</ifrs-full:DescriptionOfRiskFreeInterestRateShareOptionsGranted>
  <ifrs-full:DilutedEarningsLossPerShare contextRef="d_2017-01-01_2017-12-31" decimals="INF" id="c28291696" unitRef="iso4217-brl-per-xbrli-shares">0.46</ifrs-full:DilutedEarningsLossPerShare>
  <ifrs-full:DilutedEarningsLossPerShare contextRef="d_2016-01-01_2016-12-31" decimals="INF" id="c28291697" unitRef="iso4217-brl-per-xbrli-shares">0.79</ifrs-full:DilutedEarningsLossPerShare>
  <ifrs-full:DilutedEarningsLossPerShare contextRef="d_2015-01-01_2015-12-31" decimals="INF" id="c28291698" unitRef="iso4217-brl-per-xbrli-shares">0.79</ifrs-full:DilutedEarningsLossPerShare>
  <ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28295383" unitRef="xbrli-shares">132200000</ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares>
  <ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28295384" unitRef="xbrli-shares">126500000</ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares>
  <ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28295385" unitRef="xbrli-shares">124000000</ifrs-full:DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares>
  <ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822321">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;USE OF ESTIMATES AND JUDGMENTS&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The preparation of financial statements in conformity with IFRS requires Management to make judgments, estimates and assumptions that affect the application of accounting practices and the reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on past experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for decision making regarding the judgments about carrying amounts of assets and liabilities that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; readily evident from other sources. Actual results &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;differ from these estimates.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 198; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The estimates and assumptions are reviewed on a regular basis. Changes in accounting estimates &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;affect the period in which they are realized, or future periods.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Although each of its significant accounting policies reflects judgments, assessments or estimates, the Company believes that the following accounting practices reflect the most critical judgments, estimates and assumptions that are important to its business operations and the understanding of its results:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) predecessor basis of accounting (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; (c));&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(ii) business combinations (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; (c) and (k);&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(iii) impairment (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; (v) and (w));&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(iv) provisions (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; (u));&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(v) share-based payments (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; (s));&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(vi) employee benefits (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; (r));&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(vii) current and deferred tax (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; (i));&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(viii) joint arrangements (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; (c)); e&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(ix) measurement of financial instruments, including derivatives (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; (v) and (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;x&lt;/div&gt;)).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The fair values of acquired identifiable intangibles are based on an assessment of future cash flows. Impairment analyses of goodwill and indefinite-lived intangible assets are performed at least annually and whenever a triggering event occurs, in order to determine whether the carrying value exceeds the recoverable amount.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The company uses its judgment to select a variety of methods including the discounted cash flow method and option valuation models and makes assumptions about the fair value of financial instruments that are mainly based on market conditions existing at each balance sheet date.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Actuarial assumptions are established to anticipate future events and are used in calculating pension and other long-term employee benefit expense and liability. These factors include assumptions with respect to interest rates, rates of increase in health care costs, rates of future compensation increases, turnover rates, and life expectancy.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The company is subject to income tax&amp;nbsp;in numerous jurisdictions. Significant judgment is required in determining the worldwide provision for income tax. There are some transactions and calculations for which the ultimate tax determination is uncertain. Some subsidiaries within the Company are involved in tax audits usually in relation to prior years. These audits are ongoing in various jurisdictions at the balance sheet date and, by their nature, these can take considerable time until its conclusion.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory>
  <ifrs-full:DisclosureOfAdditionalInformationExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822335">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;ADDITIONAL INFORMATION ON OPERATING EXPENSES BY NATURE&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Depreciation, amortization and impairment expenses are included in the following income statement accounts for the years &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Depreciation and impairment of property, plant and equipment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Amortization of intangible assets&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 22%; font-size: 10pt"&gt;Cost of sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,364.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,283.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,053.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Distribution expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;197.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;200.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;177.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Sales and marketing expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;532.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;538.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;431.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;142.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;222.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;162.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Administrative expenses&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;231.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;182.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;165.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;142.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;95.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;81.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,325.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,204.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,828.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;290.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;323.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;247.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfAdditionalInformationExplanatory>
  <ifrs-full:DisclosureOfBorrowingsExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822383">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;INTEREST-BEARING LOANS AND BORROWINGS&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Secured bank loans&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;589.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;665.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Unsecured bank loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;413.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;609.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Debentures and unsecured bond issues&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;102.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other unsecured loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;101.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;356.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Financial leasing&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Non-current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,231.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,765.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Secured bank loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;879.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,381.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Unsecured bank loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;394.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,910.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Debentures and unsecured bond issues&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;296.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other unsecured loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;38.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Financial leasing&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Current liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,321.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,630.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Additional information regarding the exposure of the Company to the risks of interest rate and foreign currency are disclosed on Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27&lt;/div&gt; &amp;#x2013; &lt;div style="display: inline; font-style: italic;"&gt;Financial instruments and risks&lt;/div&gt;.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 225; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; background-color: white"&gt;At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; debts presented the following interest rates:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Debt instruments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Average rate %&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Current&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Non-current&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Average rate %&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Current&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Non-current&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 34%; font-size: 10pt; text-align: left"&gt;Debt denominated in USD fixed rate&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.83&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.00&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Debt denominated in US dollars floating rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.74&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;78.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;476.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.55&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,508.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;351.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Debt denominated in CAD dollars floating rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.00&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;685.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.62&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,259.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;BNDES basket debt floating rate (UMBNDES)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.70&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other latin american currency fixed rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.27&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;199.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.86&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;114.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;233.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other latin american currency floating rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.33&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.66&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;TJLP BNDES denominated floating rate (TJLP)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.22&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;165.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;237.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.66&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;216.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;398.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Reais debt - ICMS fixed rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.57&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;38.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;91.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.13&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;344.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Reais debt - debentures floating rate % CDI&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.63&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;52.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Reais debt - fixed rate&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.63&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;147.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;405.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.64&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;423.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;421.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,321.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,231.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,630.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,765.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Terms and debt repayment schedule &amp;#x2013; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Less than 1 year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;1-2 years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;2-3 years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;3-5 years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;More than 5 years&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 34%; font-size: 10pt; text-align: left"&gt;Secured bank loans&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,468.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;879.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;253.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;109.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;168.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Unsecured bank loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;808.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;394.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;413.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Debentures and unsecured bond issues&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;102.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;102.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Unsecured other loans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;139.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;38.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Finance lease liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,553.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,321.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;724.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;82.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;223.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;201.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Contractual clauses (covenants)&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the Company's loans had equal rights to payment without subordination clauses. Except for the credit lines due to FINAME contracted by the Company with Banco Nacional de Desenvolvimento Econ&amp;ocirc;mico e Social &amp;#x2013; BNDES (&amp;#x201c;BNDES&amp;#x201d;), where collateral were provided on assets acquired with the credit granted which serve as collateral; other loans and financing contracted by the Company predicted only guarantees as personal collateral or are unsecured. The most loan contracts contained financial covenants including:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0; margin-bottom: 12pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;financial covenants, including limitation on new indebtedness;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0; margin-bottom: 12pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;going-concern;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0; margin-bottom: 12pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;maintenance, in use or in good condition for the business, of the Company's assets;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0; margin-bottom: 12pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;restrictions on acquisitions, mergers, sale or disposal of its assets; &lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0; margin-bottom: 12pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;disclosure of financial statements under Brazilian GAAP and IFRS; and/or&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0; margin-bottom: 12pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0.25in"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-family: Symbol"&gt;&amp;middot;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; prohibition related to new real guarantees for loans contracted, except if: (i) expressly authorized under the aforementioned loan agreement, (ii) new loans contracted from financial institutions linked to the Brazilian government - including the BNDES or foreign governments; - or foreign governments, multilateral financial institutions (eg World Bank) or located in jurisdictions in which the Company operates;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 226; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;These clauses apply to the extent that the events mentioned produce material adverse effects on &lt;div style="display: inline; font-size: 10pt"&gt;the Company &lt;/div&gt;and / or its subsidiaries or the rights of its creditors, and, in the event of any of the events provided in the clauses&lt;div style="display: inline; font-size: 10pt"&gt;, it &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;have been granted to the Company a grace period to cure such default.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Additionally, all agreements entered into with the BNDES are subject to certain &amp;#x201c;provisions applicable to agreements entered into with the BNDES&amp;#x201d; (&amp;#x201c;Provisions&amp;#x201d;). Such Provisions require the borrower, to obtain prior consent of BNDES if they, for instance, wish to: (i) raise new loans (except for loans described in the Provisions); (ii) give preference and/or priority to other debts; and/or (iii) dispose of or encumber any item of their fixed assets (except as provided for in the Provisions).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the Company was in compliance with all its contractual obligations for its loans and financings.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfBorrowingsExplanatory>
  <ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822369">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;CASH AND CASH EQUIVALENTS&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Short term bank deposits &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,688.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,027.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Current bank accounts&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,077.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,467.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Cash&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;588.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;381.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,354.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,876.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Bank overdrafts&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Cash and cash equivalents less bank overdraft&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,352.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,876.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) The balance refers mostly to Bank Deposit Certificates - CDB, high liquidity, which are readily convertible into known amounts of cash and which are subject to an insignificant risk of change in value.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory>
  <ifrs-full:DisclosureOfCashFlowStatementExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822426">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;NON-CASH ITEMS&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company carried out the following investment and financing activities &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; involving cash:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Acquisition of property, plant and equipment&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;105.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisition of investments payables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;208.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cash financing cost other than interests&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;37.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,752.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;PERT 2017&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;199.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Fair value of option granted&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;221.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;205.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;144.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfCashFlowStatementExplanatory>
  <ifrs-full:DisclosureOfClassesOfShareCapitalExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-48">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Capital Reserves&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Treasury shares&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Share &lt;br /&gt; Premium&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Others capital reserves&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Share-based Payments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 45%; font-size: 10pt; font-weight: bold; text-indent: 10pt"&gt;At December 31, 2015&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,003.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53,662.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;700.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,013.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;54,373.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Purchase of shares and result on treasury shares&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;94.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;94.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Share-based payments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;61.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;61.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-indent: 10pt"&gt;At December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(908.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53,662.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;700.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,074.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;54,529.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Purchase of shares and result on treasury shares&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Share-based payments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;157.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;157.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-indent: 10pt"&gt;At December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(895.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53,662.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;700.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,232.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;54,701.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfClassesOfShareCapitalExplanatory>
  <ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-83">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Collateral given for own liabilities&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;606.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,051.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other commitments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;842.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;754.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,449.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,805.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Commitments with suppliers &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,096.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,019.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Commitments - Bond 2017&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;300.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,096.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,319.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory>
  <ifrs-full:DisclosureOfContingentLiabilitiesExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822424">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;CONTINGENT LIABILITY&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" color: #666666; font-size: 10pt; text-align: justify; margin: 0pt 0"&gt;&lt;div style="display: inline; color: windowtext"&gt;The Company has contingent liabilities arising from lawsuits in the normal course of its business. &lt;/div&gt;&lt;div style="display: inline; color: #0D0E00; background-color: white"&gt;Due to their nature, such legal proceedings involve inherent uncertainties including, but &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; limited to, court and tribunals rulings, negotiations between affected parties and governmental actions, and as a consequence the Company&amp;#x2019;s management cannot at this stage estimate the likely timing of the resolution of these matters. &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Contingent liabilities with a probable likelihood of loss are fully recorded as liabilities (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26&lt;/div&gt; &amp;#x2013; &lt;div style="display: inline; font-style: italic;"&gt;Provisions&lt;/div&gt;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company also has lawsuits related to tax, civil and labor, for which the likelihood of loss classified by management as possible and for which there are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; provisions. Estimates of amounts of possible losses are as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;IRPJ and CSLL&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,757.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,934.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;PIS and COFINS&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,485.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,971.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;ICMS and IPI&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,805.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,046.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Labor&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;287.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;222.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Civil&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,071.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,417.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,113.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;858.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;60,520.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;52,450.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 251; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Principal lawsuits with a likelihood of possible loss:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Brazilian Federal Taxes&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Special goodwill reserve&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2011, &lt;/div&gt;the Company received a tax assessment related to the goodwill amortization resulting from Inbev Holding Brasil S.A. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; November 2014 &lt;/div&gt;the Lower Administrative Court concluded the judgment. The decision was partly favorable, Ambev presented a motion to clarify the decision to the Administrative Court. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 2016, &lt;/div&gt;this motion was partially admitted and Ambev was formally notified of said decision in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2018. &lt;/div&gt;As the decision of the Administrative Council of Tax Appeals (&amp;#x201c;CARF&amp;#x201d;) remained partially favorable, Ambev will file a judicial proceeding to discuss the unfavorable part of the decision and received a favorable decision in the injuctionand the remaining portion will still be submitted for reconsideration by the Administrative Upper Court.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; June 2016, &lt;/div&gt;Ambev received tax assessment charging the remaining value of the goodwill amortization, related to InBev B Holding Brasil S.A&amp;#x2019;s merger with Ambev, from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2011&lt;/div&gt; to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2013.&lt;/div&gt; In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March 2017, &lt;/div&gt;Ambev was notified of the partially favorable &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt; level administrative decision on this tax assessment and filed an appeal to Lower Administrative Court.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Ambev management estimates possible losses in relation to the total amortization period (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2005&lt;/div&gt;-&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2013&lt;/div&gt;) to be approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$8.3&lt;/div&gt; billion (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$7.8&lt;/div&gt; billion as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2016), &lt;/div&gt;classified as possible loss, and, therefore, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; provision was made by the Company in this matter. In the event Ambev is required to pay these amounts, AB Inbev will reimburse Ambev the amount proportional (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;70%&lt;/div&gt;) to the benefit received by the company pursuant to the merger protocol, as well as the related costs. &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Goodwill BAH&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; October 2013, &lt;/div&gt;we also received a tax assessment related to the goodwill amortization resulting from the merger of Beverage Associates Holding Limited (&amp;#x201c;BAH&amp;#x201d;) into Ambev. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2014, &lt;/div&gt;Ambev filed an appeal against the unfavorable &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt; level administrative decision published in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; November 2014. &lt;/div&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March 2017, &lt;/div&gt;Lower Administrative Court concluded the judgment to send the case back to the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt; level administrative judgment due to processual matters. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; July 2017, &lt;/div&gt;Ambev was notified of the revised &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt; level decision and filed a new Voluntary Appeal. The possible risk amount is approximately R$ &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6&lt;/div&gt; billion (R$ &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.5&lt;/div&gt; billion as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016). &lt;/div&gt;There was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; provision made on the matter.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 252; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Goodwill CND Holdings&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; November 2017, &lt;/div&gt;Ambev received a tax assessment related to the amortized goodwill related to the merger of CND Holdings into Ambev. Ambev filed a defense at the legal term and awaits judgment by the Federal Revenue Service (&amp;#x201c;DRJ&amp;#x201d;). The possible risk amount is approximately R$ &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1&lt;/div&gt; billion. There was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; provision made on the matter.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Profits earned abroad&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;During the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt; quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2005,&lt;/div&gt; certain of our subsidiaries received a number of assessments from the RFB relating to profits obtained by subsidiaries domiciled abroad. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2008, &lt;/div&gt;the Administrative Court handed down a decision on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; of the tax assessments relating to earnings of our foreign subsidiaries. This decision was partially favorable to us, and in connection with the remaining part, we filed an appeal to the Appellate Division of the Administrative Court which was finally dismissed in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March 2017. &lt;/div&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 2017, &lt;/div&gt;Ambev filed a court order to discuss the matter with an injunction granted in favor of the Company.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2013, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; October 2017, &lt;/div&gt;the Company received tax assessments related to the matter. We have &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; recorded any provision in connection with those assessments. We estimate our exposure to possible losses in relation to these assessments to be &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$6.1billion&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$4.9&lt;/div&gt; billion at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016) &lt;/div&gt;and to probable losses to be &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$44.2&lt;/div&gt; million as of that date, for which we have recorded a provision in the corresponding amount (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$41.6&lt;/div&gt; million at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016).&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Utilization of tax loss on mergers&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company and its subsidiaries have received tax assessments from the Brazilian Tax authorities, from certain tax credits arising from alleged non-compliance with the Brazilian tax regulation concerning accumulated tax losses by companies in their final year of existence, following a merger.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February 2016, &lt;/div&gt;Ambev was notified of the closure of the administrative phase and filed lawsuits to discuss the matter. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 2016, &lt;/div&gt;Ambev received the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt; favorable court decision. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March 2017, &lt;/div&gt;Ambev received an unfavorable decision in the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt; judicial instance in the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;second&lt;/div&gt; case under discussion in the judiciary and filed an Appeal.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;No&lt;/div&gt; provisions have been made for these cases as Ambev believes that there are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; express legal grounds that limit the use of tax losses in cases where legal entities are extinguished (including in the case of mergers), and therefore the tax inspector&amp;#x2019;s interpretation in these tax assessments does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; apply.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 253; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company estimates the possible exposure to losses on these assessments at approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$549.4&lt;/div&gt; million (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$522.9&lt;/div&gt; million at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016).&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Disallowance of Expenses and Deductible Losses&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2014, &lt;/div&gt;Ambev received a tax assessment from the Brazilian Federal Tax Authorities related to the disallowance of alleged non-deductible expenses and the deduction of certain losses mainly associated to financial investments and loans, in the amount of approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$1.3&lt;/div&gt; billion. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; August 2017, &lt;/div&gt;the Administrative Council of Tax Appeals (&amp;quot;CARF&amp;quot;) concluded the judgment fully favorable to Ambev and, in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2017, &lt;/div&gt;Ambev was notified of said decision, as well as of the manifestation from the fiscal authority informing the non-interposition of appeal and the permanent discontinuance of the case.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2015 &lt;/div&gt;and in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2016, &lt;/div&gt;Ambev also received other tax assessments related to the same matter. Ambev Management estimates the amount of possible losses in relation to this assessment to be approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$4.4&lt;/div&gt; billion as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$5.6&lt;/div&gt; billion as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December&amp;nbsp;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Disallowance of taxes paid abroad&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Since &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014,&lt;/div&gt; Ambev has been receiving tax assessments from the Brazilian Federal Tax Authorities related to the disallowance of deductions associated with alleged unproven taxes paid abroad.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company filed a defense for all cases and awaits a decision in the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt; instance for the cases received in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and by the Administrative Court Management for the others.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September, 2017, &lt;/div&gt;Ambev opted to include part of these tax assessments in the Special Tax Regularization Program established by the Provisional Measure n&amp;ordm;. &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;783&lt;/div&gt; (&amp;#x201c;PERT&amp;#x201d;). Ambev management estimates an amount of approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$7.2&lt;/div&gt; billion (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$2.8&lt;/div&gt; billion as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016) &lt;/div&gt;as possible loss.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Presumed Profit&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; April 2016, &lt;/div&gt;Arosuco (subsidiary of Ambev) received a tax assessment regarding the use of Presumed Profit Method for the calculation of income tax and the social contribution on net profit instead of Real Profit method. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September, 2017, &lt;/div&gt;Arosuco was notified of the unfavorable &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt; level administrative decision and filed Voluntary Appeal. Arosuco management estimates the amount of possible losses in relation to this assessment to be approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$616.1&lt;/div&gt; million (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$569.6&lt;/div&gt; billion as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016).&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 254; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2016, &lt;/div&gt;CRBS (a subsidiary of Ambev) received a tax assessment regarding the use of Presumed Profit Method for the calculation of income tax and social contribution on net profit instead of the Real Profit method. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; July 2017, &lt;/div&gt;CRBS received an unfavorable decision at the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt; administrative instance and filed a Voluntary Appeal. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; September 2017, &lt;/div&gt;the Company opted to include this tax assessment in the Special Tax Regularization Program established by Provisional Measure n&amp;ordm;. &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;783&lt;/div&gt; (&amp;#x201c;PERT&amp;#x201d;). There are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; loss amounts related to this matter as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 (&lt;/div&gt;R $ &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.6&lt;/div&gt; billion as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016).&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;PIS and COFINS&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;PIS/COFINS over bonus products&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Since &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; Ambev has been receiving tax assessments issued by the Brazilian federal tax authorities, relating to amounts allegedly due under Integration Programme/Social Security Financing Levy (PIS/COFINS) over bonus products granted to its customers. The cases are now being discussed at Courts. Ambev management estimates the possible losses related to these assessments to be approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$3.1&lt;/div&gt; billion (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$1.5&lt;/div&gt; billion as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2016).&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;ICMS and IPI&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;ICMS-ST Unconditional Discounts&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Ambev has been party to legal proceedings with the State of Rio de Janeiro where it is challenging such State&amp;#x2019;s attempt to assess ICMS Value-Added Tax with respect to unconditional discounts granted by Ambev from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 1996 &lt;/div&gt;to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; February 1998. &lt;/div&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; October 2015 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2016, &lt;/div&gt;Ambev decided pay the debts related to the assessments issued by the State of Rio de Janeiro under an incentive tax payment, in the total amount of approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$271&lt;/div&gt; million. In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2013,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; Ambev has been receiving similar tax assessments with the States of Par&amp;aacute; and Piau&amp;iacute;. The Company filed a defense for this cases and currently awaits a decision. After the payments to the State of Rio de Janeiro, Ambev management estimates the amount involved in these proceedings to be approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$599.7&lt;/div&gt; million (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$559.5&lt;/div&gt; million as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2016), &lt;/div&gt;classified as possible loss.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;ICMS fiscal war&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Ambev is currently challenging tax assessments from the States of S&amp;atilde;o Paulo, Rio de Janeiro, Minas Gerais and other States, which question the legality of tax credits arising from existing tax incentives received in other States. Ambev management estimates the possible losses related to these assessments to be approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$1.9&lt;/div&gt; billion (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$1.8&lt;/div&gt; billion as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016) &lt;/div&gt;classified as possible loss.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 255; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;ICMS-ST Trigger&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Over the years, Ambev has received tax assessments relating to supposed ICMS differences considered due when the price of the products sold by the company reaches levels close to or above the fixed price table basis established by States. Ambev is currently challenging those charges before Courts&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Among other similar cases, in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; Ambev received &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; assessment, issued by the State of Minas Gerais, in the original amount of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$1.4&lt;/div&gt; billion. In the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;second&lt;/div&gt; quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; the Administrative Court of the State Minas Gerais, concluded the judgment of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; relevant cases, unfavorably to Ambev. Ambev presented defense against such decisions to the Upper House of the Administrative Tax Court of the State of Minas Gerais and awaits for judgement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; Ambev has receive a new tax assessments issued by the State of Rio de Janeiro, about these same issue in the total historical amount of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;900&lt;/div&gt; million. The Company filed a defense for this cases and currently awaits a decision of the Administrative Court of the State Rio de Janeiro.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Ambev management estimates the total possible losses related to this issue to be approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$5.8&lt;/div&gt; billion (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$4.5&lt;/div&gt; billion as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2016). &lt;/div&gt;Ambev has recorded provisions in the total amount of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$6.7&lt;/div&gt; million in relation to the proceedings for which it considers the chances of loss to be probable, considering specific procedural issues.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Manaus Free Trade Zone - IPI&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Goods manufactured within the Manaus Free Trade Zone &amp;#x2013; ZFM intended for consumption elsewhere in Brazil are exempt from the IPI. The units of Ambev have been registering IPI presumed credits upon the acquisition of exempted inputs manufactured therein in the Manaus Free Trade Zone. Since &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2009&lt;/div&gt; we have been receiving a number of tax assessments from the RFB relating to the disallowance of such presumed credits, which are under discussion before the Brazilian Supreme Court. Management estimates possible losses in relation to these assessments to be &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$3.2&lt;/div&gt; billion (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$2.0&lt;/div&gt; billion as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016).&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In addition, over the years, Ambev has received tax assessments from the Brazilian Federal Tax Authorities charging federal taxes considered unduly offset with the disallowed IPI excise tax credits which are under discussion in other proceedings. Ambev is challenging those charges before Courts. Ambev management estimates the possible losses related to these assessments to be approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$900&lt;/div&gt; million (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$735.5&lt;/div&gt; million as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2016).&lt;/div&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 256; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;IPI Excise Tax&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2014&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; we received tax assessments from Brazilian Federal Tax Authorities related to IPI exercise tax, supposedly due over remittances of manufactured goods to other related factories. Management estimates the possible losses related to these assessments to be approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$1.5&lt;/div&gt; billion (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$1.5&lt;/div&gt; billion as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016).&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Civil&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Subscription Warrants&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Certain holders of warrants issued by Old Ambev in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1996&lt;/div&gt; for exercise in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2003&lt;/div&gt; have filed lawsuits to be able to subscribe the corresponding shares for an amount lower than what the Company considers to have been established at the time of the issuance of the warrants. The warrants object of those &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;six&lt;/div&gt; proceedings represented, on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,172.8&lt;/div&gt; million Ambev common shares that would be issued at a value substantially below fair market value, should claimants ultimately prevail. The plaintiffs also claim they should receive past dividends related to these shares in the amount of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$846.9&lt;/div&gt; million (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$761.7&lt;/div&gt; million on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016). &lt;/div&gt;The Company believes that the loss of this lawsuit is possible has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; recorded any provision in connection therewith. In the last quarter of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; the Company reassessed and the likelihood&amp;nbsp;of&amp;nbsp;loss is remote of this lawsuits and will &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be disclosure of the coming interim financial statements.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Lawsuit against Brewers Retail Inc.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2014, &lt;/div&gt;claimants in Canada brought a lawsuit against the Liquor Control Board of Ontario (&amp;#x201c;LCBO&amp;#x201d;), Brewers Retail Inc. (&amp;#x201c;The Beer Store&amp;#x201d;) and the owners of The Beer Store (Molson Coors Canada, Sleeman Breweries Ltd. and Labatt Breweries of Canada LP). The lawsuit, brought pursuant to the Ontario Class Proceedings Act in the Ontario Superior Court of Justice, seeks a declaration that LCBO and &lt;div style="display: inline; font-style: italic;"&gt;The Beer Store&lt;/div&gt; agreed with each to allocate sales, territories, customers or markets for the supply of beer sold in Ontario since &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; June 1, 2000, &lt;/div&gt;and a declaration that the owners of The Beer Store agreed to fix. The claimants are seeking damages &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; exceeding &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$3.7&lt;/div&gt; billion (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$3,4&lt;/div&gt; billion as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016), &lt;/div&gt;for all mentioned parts. Considering that The Beer Store operates according to the rules established by the Government of Ontario and that prices at The Beer Store are independently set by each brewer, the Company believes that there are strong defenses and, accordingly, has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; recorded any provision in connection therewith.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 257; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Contingent assets&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;According to IAS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;37,&lt;/div&gt; contingent assets are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; recorded in consolidated financial statements, except when the realization of income is virtually certain. There was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; probable contingent assets to be disclosed &lt;div style="display: inline; background-color: white"&gt;on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; background-color: white"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; background-color: white"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;The Company and its subsidiaries apply for the refund of the PIS and COFINS installments collected with the inclusion of ICMS in their calculation bases for the period from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1990&lt;/div&gt; onwards. The amounts involved in the refund requests are still being determined.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfContingentLiabilitiesExplanatory>
  <ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-24">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Depreciation and impairment of property, plant and equipment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Amortization of intangible assets&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 22%; font-size: 10pt"&gt;Cost of sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,364.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,283.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,053.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Distribution expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;197.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;200.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;177.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Sales and marketing expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;532.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;538.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;431.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;142.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;222.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;162.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Administrative expenses&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;231.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;182.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;165.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;142.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;95.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;81.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,325.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,204.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,828.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;290.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;323.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;247.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory>
  <ifrs-full:DisclosureOfDetailedInformationAboutBorrowingsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-57">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Debt instruments&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Average rate %&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Current&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Non-current&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Average rate %&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Current&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Non-current&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 34%; font-size: 10pt; text-align: left"&gt;Debt denominated in USD fixed rate&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.83&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.00&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Debt denominated in US dollars floating rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.74&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;78.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;476.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.55&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,508.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;351.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Debt denominated in CAD dollars floating rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.00&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;685.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.62&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,259.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;BNDES basket debt floating rate (UMBNDES)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.70&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other latin american currency fixed rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.27&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;199.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.86&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;114.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;233.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Other latin american currency floating rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.33&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.66&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;TJLP BNDES denominated floating rate (TJLP)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.22&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;165.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;237.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.66&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;216.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;398.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Reais debt - ICMS fixed rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.57&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;38.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;91.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.13&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;344.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Reais debt - debentures floating rate % CDI&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.63&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;52.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Reais debt - fixed rate&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.63&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;147.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;405.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.64&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;423.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;421.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,321.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,231.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,630.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,765.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutBorrowingsExplanatory>
  <ifrs-full:DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-79">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Loans and receivables&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Held for trading&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Financial assets/liabilities at fair value through profit or loss&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Derivatives hedge&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Financial liabilities through amortized cost&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Financial assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 34%; font-size: 10pt; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,354.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,354.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Investment securities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;122.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;133.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivables excluding prepaid expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,505.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,505.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Financial instruments derivatives&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;285.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;385.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,859.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;122.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;112.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;285.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,378.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Financial liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade payables and put option granted on subsidiary and other liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,764.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,502.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,266.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Financial instruments derivatives&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;201.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;217.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Interest-bearning loans and borrowings&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,553.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,553.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,780.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;201.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,055.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,036.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Loans and receivables&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Held for trading&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Financial assets/liabilities at fair value through profit or loss&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Derivatives hedge&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Financial liabilities through amortized cost&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Financial assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 34%; font-size: 10pt; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,876.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,876.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Investment securities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;104.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;282.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;387.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivables excluding prepaid expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,962.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,962.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Financial instruments derivatives&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;194.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;212.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,839.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;104.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;301.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;194.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,439.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Financial liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade payables and put option granted on subsidiary and other liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,106.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,208.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,314.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Financial instruments derivatives&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;49.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;663.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;713.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Interest-bearning loans and borrowings&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,396.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,396.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,156.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;663.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,604.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24,423.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory>
  <ifrs-full:DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-76">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Pre - Hedge&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Post - Hedge&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Interest rate&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Amount&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Interest rate&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Amount&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; text-align: left"&gt;Brazilian Real&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;402.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;714.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;American Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;555.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;555.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Canadian Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;685.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;685.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Barbadian Dollar&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Interest rate postfixed&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,648.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,960.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Brazilian Real&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;682.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;370.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Working Capital in Argentinean Peso&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Dominican Peso&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;188.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;188.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;American Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Guatemala&amp;acute;s Quetzal&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Interest rate pre-set&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;906.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;594.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Pre - Hedge&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Post - Hedge&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Interest rate&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Amount&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Interest rate&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Amount&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; text-align: left"&gt;Brazilian Real&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;667.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,375.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;American Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,882.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;565.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Canadian Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,259.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,259.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Barbadian Dollar&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Interest rate postfixed&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,814.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,205.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Brazilian Real&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,223.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;841.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Dominican Peso&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;288.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;288.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;American Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Guatemala&amp;acute;s Quetzal&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Barbadian Dollar&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;48.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;48.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Interest rate pre-set&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,582.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,191.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory>
  <ifrs-full:DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-35">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Distribution&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Brands&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;contracts&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Software&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Others&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Total&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Acquisition cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,160.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,319.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;888.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;460.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,829.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of movements in foreign exchange&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Acquisitions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisitions through business combination&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfers to other assets categories&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(650.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;265.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(352.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;46.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;46.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end of year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,514.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,333.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,144.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;540.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,533.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Amortization and Impairment losses&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,760.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(597.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(223.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,583.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Foreing exchange effects&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(138.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(118.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(32.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(290.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Transfers to other assets categories&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end of year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,894.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(711.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(250.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,858.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Carrying amount:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,158.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;558.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;291.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;236.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,245.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,512.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;438.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;432.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;290.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,674.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Distribution&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Brands&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;contracts&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Software&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Others&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Total&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Acquisition cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,908.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,387.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;788.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;356.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,440.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of movements in foreign exchange&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(645.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(68.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(50.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(93.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(858.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Acquisitions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Disposal&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisitions through business combination&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,043.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,073.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisitions through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;228.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;248.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Disposals through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(58.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(67.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfers to other assets categories&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(317.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;135.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(24.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(206.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;172.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;172.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end of year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,160.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,319.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;888.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;460.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,829.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Amortization and Impairment losses (i)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,622.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(539.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(184.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,348.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Foreing exchange effects&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;40.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;79.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(148.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(94.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(80.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(323.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Disposal&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Disposals through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Transfers to other assets categories&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end of year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,760.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(597.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(223.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,583.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Carrying amount:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2015&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,906.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;765.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;248.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;172.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,092.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,158.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;558.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;291.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;236.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,245.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory>
  <ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-31">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Land and buildings&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Plant and equipment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Fixtures and fittings&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Under construction&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Acquisition cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,330.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,764.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,584.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,740.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;37,419.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of movements in foreign exchange&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(27.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;228.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(24.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;204.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Acquisitions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;626.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;171.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,367.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,175.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(555.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(125.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(706.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfer to other asset categories&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;415.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,657.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;473.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,857.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(310.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;36.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,961.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24,538.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,076.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,257.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39,835.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Depreciation and Impairment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,278.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13,075.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,912.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(18,265.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Foreign exchange effects&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(104.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(116.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Depreciation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(299.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,245.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(655.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,200.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Impairment losses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(125.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(125.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Disposals and write-off&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;539.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;109.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;654.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfer to other asset categories&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,585.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(14,973.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,453.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(21,012.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Carrying amount:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,052.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,689.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,672.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,740.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,153.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,376.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,565.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,623.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,257.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,822.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Land and buildings&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Plant and equipment&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Fixtures and fittings&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Under construction&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Acquisition cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,718.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,369.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,465.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,132.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;36,685.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of movements in foreign exchange&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(474.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,528.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(427.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(222.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,652.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisitions through business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;283.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;360.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;56.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;700.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisitions through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;221.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;185.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;433.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Disposals through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(121.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(344.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(101.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(571.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Acquisitions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;819.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;276.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,905.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,009.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(106.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(693.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(210.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,012.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Transfer to other asset categories&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;800.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,595.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;526.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,095.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(173.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,330.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,764.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,584.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,740.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;37,419.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Depreciation and Impairment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,244.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12,562.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,738.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(17,545.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Foreign exchange effects&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;95.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;804.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;236.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,137.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Disposals through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;52.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;241.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;51.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;345.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Depreciation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(277.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,117.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(688.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,083.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Impairment losses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(120.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(120.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;95.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;646.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;187.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;928.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfer to other asset categories&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;61.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,278.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13,075.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,912.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(18,265.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Carrying amount:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2015&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,474.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,807.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,726.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,132.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,140.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,052.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,689.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,672.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,740.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,153.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory>
  <ifrs-full:DisclosureOfEarningsPerShareExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-53">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Million shares&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Common&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Common&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Common&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Issued shares at December 31, net of treasury shares &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,705.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,696.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,696.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Effect of shares options&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;132.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;126.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;124.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Weighted average number of shares (diluted) at December 31&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,838.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,823.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,820.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEarningsPerShareExplanatory>
  <ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-16">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Closing rate&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Average rate&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Currency&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Name&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Country&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 12%; font-size: 10pt"&gt;CAD&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Canadian Dollars&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Canada and Cuba&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.6380&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.4214&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.8124&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.4567&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.6348&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.5661&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;DOP&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dominican Pesos&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dominican republic&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0685&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0700&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0860&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0674&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0755&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0725&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;US Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Ecuador &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;, Panam&amp;aacute; and Cuba&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.3080&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2591&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.9048&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2017&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.4749&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2596&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;GTQ&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Quetzal&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Guatemala&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4500&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4343&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.5129&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4344&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4570&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4265&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;PEN&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Novo Sol&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Peru &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.9720&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1440&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0269&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0396&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;ARS&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Argentinean Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Argentina&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1762&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.2056&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3003&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1931&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.2354&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3581&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;BOB&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Bolivian Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Bolivia&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4753&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4683&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.5610&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4600&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4993&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4683&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;PYG&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Guarani&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Paraguai&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0006&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0006&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0007&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0006&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0006&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0006&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;UYU&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Uruguayan Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Uruguay&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1151&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1114&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1304&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1116&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1166&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1197&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;CLP&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Chilean Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Chile&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0054&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0049&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0055&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0049&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0051&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0050&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;COP&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Peso colombiano&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Col&amp;ocirc;mbia &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0011&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0011&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;BBD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Barbadian Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Barbados&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6307&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6075&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.5783&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.7139&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory>
  <ifrs-full:DisclosureOfEmployeeBenefitsExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822387">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;23.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;EMPLOYEE BENEFITS&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company sponsors pension plans to defined benefit to employees in Brazil and subsidiaries located in the Dominican Republic, Panama, Uruguay, Bolivia and Canada based on employees' salaries and length of service. The entities are governed by local regulations and practices of each individual country as well as the relationship with the Company&amp;#x2019;s pension funds and their composition.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Ambev provides post-employment benefits, including pension benefits and medical and dental care. Post-employment benefits are classified as either defined contribution or defined benefit plans.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The defined benefit plans and the other post-employment benefits are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; granted to new retirees.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 227; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Defined contribution plans&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;These plans are funded by the participants and the sponsor, and are managed by administered pension funds. During &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; the Company contributed &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$18.9&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$25.3&lt;/div&gt; during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;) to these funds, which were recorded as an expense. Once the contributions have been paid, the Company has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; further payment obligations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Defined benefit plans&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;the net liability for defined benefit plans consists of the following:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt"&gt;Present value of funded obligations&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,027.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,592.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,646.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Fair value of plan assets&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,006.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,845.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,781.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Present value of net obligations&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,021.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(746.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(865.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Present value of unfunded obligations&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(757.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(741.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(756.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Present value of net obligations&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,778.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,488.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,621.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Asset ceiling&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(368.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(532.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(534.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Net liability&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,147.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,020.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,156.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other long term employee benefits&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(105.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(83.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(57.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total employee benefits&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,252.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,104.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,213.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Employee benefits amount in the balance sheet:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,310.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,137.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,221.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Assets&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;58.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Net liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,252.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,104.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,213.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The changes in the present value of the defined benefit obligations were as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Defined benefit obligation at January 1 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;st&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,333.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,403.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,808.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisitions through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(67.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Service cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(38.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(43.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(42.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(321.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(320.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(308.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Gains and (losses) on settlements or reductions in benefits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Contributions by plan participants&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Actuarial gains and (losses) - geographical assumptions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;77.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(20.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Actuarial gains and (losses) - financial assumptions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(140.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(321.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;182.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Experience adjustment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(115.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(182.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Reclassifications&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Exchange differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(306.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;599.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(805.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Benefits paid&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;400.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;416.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;392.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Defined benefit obligation at December, 31&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,785.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,333.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,403.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The present value of funded obligations include &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$762.0&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$683.4&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$494.1&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;) of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; health care plans for which the benefits are provided directly by Funda&amp;ccedil;&amp;atilde;o Zerrenner. Funda&amp;ccedil;&amp;atilde;o Zerrenner is a legally distinct entity whose main goal is to provide the Company&amp;#x2019;s current and retired employees and managers with health care and dental assistance, technical and superior education courses, maintaining facilities for assisting and helping elderly people, among other things, through direct initiatives or through financial assistance agreements with other entities.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 228; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The changes in the fair value of plan assets are as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair value of plan assets at January 1 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;st&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,845.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,781.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,550.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest Income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;273.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;274.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;259.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Administrative costs&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expected Return excluding interest income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(64.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;269.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(173.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisition through business combination&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;73.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Contributions by employer&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;183.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;175.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;107.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Contributions by plan participants&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Exchange differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;166.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(315.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;428.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Benefits paid excluding costs of administration&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(398.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(416.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(392.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Fair value of plan assets at December, 31&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,006.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,845.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,781.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The real return on plan assets generated in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; was a gain of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$208.5&lt;/div&gt; (gain of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$544.5&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$86.3&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the Company recorded &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$58.4&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$33.5&lt;/div&gt; at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016) &lt;/div&gt;up to the asset ceiling &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; exceeding the present value of future benefits.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The changes in the asset ceiling &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; exceeding the present value of future benefits are as follow:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Asset ceiling impact at January 1 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;st&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisitions through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest income/(expenses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Change in asset ceiling excluding amounts included in interest income/(expenses)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of exchange rate fluctuations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Asset ceiling impact at December 31&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;58.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The income/(expense) recognized in the income statement with regard to defined benefit plans is detailed as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Current service costs&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(38.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(43.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(42.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Administrative costs&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;(Gains) losses on settlements and curtailments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Income from operations&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(37.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(46.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(44.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Financial cost&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(101.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(105.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(97.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total expense for employee benefits&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(138.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(151.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(142.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 229; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The employee benefit revenue/(expenses) are included in the following line items in the income statement:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt"&gt;Cost of sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(22.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(24.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(19.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Sales and marketing expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Administrative expense&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(17.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Financial expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(101.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(105.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(97.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(138.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(151.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(142.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The assumptions used in the calculation of the obligations are as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2017 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2016 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;2015 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Discount rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.6%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.6%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.9%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.5%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.1%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.1%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Inflation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.2%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.2%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Future salary increases&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.7%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.5%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.8%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Future pension increases&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.3%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Medical cost trend rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.9%&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.8%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; a &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.2%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5%&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.2%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;p.a. reducing to 7.9%&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;p.a. reducing to 8.2%&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;p.a. reducing to 8.2%&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Dental claims trend rate&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.3%&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5%&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.5%&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Life expectation for an over 65 years old male&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;83&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;87&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;80&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;86&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;85&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;70&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Life expectation for an over 65 years old female&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;86&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;89&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;83&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;89&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;88&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;71&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(i) Includes assumptions in Latin America &amp;#x2013; North, Latin America &amp;#x2013; South and Canada.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Through its defined benefit pension plans and post-employment medical plans, the Company is exposed to a number of risks, the most significant are detailed below:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;Asset volatility&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The plans liabilities are calculated using a discount rate set with reference to high quality corporate yields; if plan assets underperform this yield, the Company&amp;#x2019;s net defined benefit obligation &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;increase. Most of the Company&amp;#x2019;s funded plans hold a significant proportion of equities, which are expected to outperform corporate bonds in the long-term while providing volatility and risk in the short-term. As the plans mature, the Company usually reduces the level of investment risk by investing more in assets that better match the liabilities.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;Changes in bond yields&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;A decrease in corporate bond yields will increase plan liabilities, although this will be partially offset by an increase in the value of the plans&amp;#x2019; bond holdings.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 230; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;Inflation risk&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Some of the Company&amp;#x2019;s pension obligations are linked to inflation, and higher inflation will lead to higher liabilities. The majority of the plan&amp;#x2019;s assets are either unaffected by or loosely correlated with inflation, meaning that an increase in inflation could potentially increase the Company&amp;#x2019;s net benefit obligation.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;Life expectancy&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The majority of the plans&amp;#x2019; obligations are to provide benefits for the life of the member, so increases in life expectancy will result in an increase in the plans&amp;#x2019; liabilities.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify"&gt;Investment strategy&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In case of funded plans, the Company ensures that the investment positions are managed within an asset-liability matching (ALM) framework that has been developed to achieve long-term investments that are in line with the obligations under the pension schemes. Within this framework, the Company&amp;#x2019;s ALM objective is to match assets to the pension obligations by investing in long-term fixed interest securities with maturities that match the benefit payments as they fall due and in the appropriate currency.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The sensitivity of the defined benefit obligation to changes in the weighted principal assumptions is:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;In millions of Brazilian Reais&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Change in assumption&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Increase in assumption&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Decrease in assumption&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Increase in assumption&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Decrease in assumption&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Increase in assumption&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Decrease in assumption&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: left"&gt;Medical cost trend rate&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100 bases points&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(119.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;102.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(104.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;90.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(77.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;67.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;Discount rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50 bases points&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;289.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(309.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;292.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(311.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;262.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(280.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;Future salary increase&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50 bases points&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;Longevity&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;One year&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(180.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;176.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(175.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;172.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(135.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;131.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The data presented in these tables are purely hypothetical and are based on changes in individual assumptions holding all other assumptions constant: economic conditions and changes therein always affect the other assumptions at the same time and its effects are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; linear. Therefore, the above information is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; necessarily a reasonable representation of future results.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 231; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The plans assets at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt; consist of the following:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Rated&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Unrated&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Rated&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Unrated&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Rated&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Unrated&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: left"&gt;Government bonds&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;Corporate bonds&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;23&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;23&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;Equity instruments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;Property&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;Cash&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The overall expected rate of return is calculated by weighting the individual rates in accordance with the anticipated share in the total investment portfolio.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Ambev expects to contribute approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$229.3&lt;/div&gt; to its defined benefit plans in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2018.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEmployeeBenefitsExplanatory>
  <ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822322">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;SEGMENT REPORTING&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 200; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;(a)&lt;/td&gt; &lt;td&gt;Reportable segments &amp;#x2013; Years ended in:&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 8pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Latin America - north &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 8pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Latin America - south &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Canada&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Consolidated&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,086.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,927.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29,654.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,769.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,212.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,255.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,043.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,461.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,809.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47,899.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45,602.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;46,720.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt"&gt;Cost of sales&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(11,935.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10,870.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9,921.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,122.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,685.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,306.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,984.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,122.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,833.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(18,041.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16,678.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16,061.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Gross profit&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,151.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,057.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,733.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,647.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,527.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,948.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,059.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,339.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,976.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29,857.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,924.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30,658.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 8pt; text-align: left"&gt;Distribution expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,193.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,965.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,709.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,007.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(979.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,047.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,093.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,140.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,076.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6,295.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6,085.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,833.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Sales and marketing expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,655.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,671.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,264.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,091.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,317.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,294.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(873.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(936.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(785.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,620.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,925.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,344.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Administrative expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,954.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,486.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,599.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(384.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(400.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(428.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(285.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(279.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(253.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,623.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,166.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,281.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Other operating income/(expenses)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,170.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,283.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,871.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;41.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(39.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;60.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(21.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,217.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,223.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,936.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(56.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,183.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(273.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(41.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(41.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(39.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(11.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(43.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(108.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,134.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(357.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Income from operations (EBIT)&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,462.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,401.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,757.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,163.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,749.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,198.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,801.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,954.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,821.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,426.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,105.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,778.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net finance cost&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,693.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,694.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,842.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(709.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(439.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(868.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(91.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;431.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;443.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,493.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,702.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,268.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;Share of result of joint ventures&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Income before income tax&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,764.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,700.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,916.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,453.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,310.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,330.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,712.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,387.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,266.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,929.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,398.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,513.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Income tax expense&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,309.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,100.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,884.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,144.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(814.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,154.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(625.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(601.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(595.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,079.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(315.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,634.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Net income&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,454.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,800.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,032.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,309.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,496.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,176.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,086.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,786.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,670.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,850.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,083.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,879.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 8pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Normalized EBITDA&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(iii)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,233.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,805.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,274.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,866.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,501.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,877.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,047.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,176.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,057.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20,147.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,483.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,209.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(56.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,183.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(273.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(41.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(41.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(39.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(11.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(43.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(108.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,134.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(357.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Depreciation. amortization and impairment&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,715.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,586.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,242.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(662.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(710.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(639.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(234.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(214.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(192.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,612.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,512.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,074.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net finance costs&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,693.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,694.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,842.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(709.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(439.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(868.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(91.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;431.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;443.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,493.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,702.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,268.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt"&gt;Share of result of joint ventures&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Income tax expense&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,309.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,100.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,884.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,144.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(814.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,154.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(625.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(601.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(595.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,079.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(315.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,634.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Net income&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,454.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,800.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,032.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,309.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,496.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,176.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,086.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,786.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,670.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,850.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,083.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,879.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Normalized EBITDA margin in %&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;44.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;51.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;44.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;43.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Acquisition of property, plant and equipment&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,862.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,352.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,442.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,051.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,365.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,654.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;292.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;317.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;285.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,206.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,035.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,381.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Segment assets&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;48,811.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50,935.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47,282.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,558.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,149.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,757.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,204.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,245.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,264.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;70,575.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;71,329.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;69,304.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Intersegment elimination&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,077.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,968.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,996.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Non-segmented assets&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,354.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,479.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,868.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Total assets&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;86,851.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;83,841.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;90,176.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Segment liabilities&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;23,031.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,958.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20,998.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,015.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,576.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,093.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,700.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,275.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,608.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32,747.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,811.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29,701.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Intersegment elimination&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,077.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,968.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,996.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Non-segmented liabilities&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57,182.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;55,998.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;62,471.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Total liabilities&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;86,851.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;83,841.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;90,176.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) Latin America &amp;#x2013; North: includes operations in Brazil, Luxembourg and CAC (El Salvador, Guatemala, Nicaragua, Dominican Republic, Saint Vincent, Dominica, Antigua, Cuba, Barbados and Panama).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(ii) Latin America &amp;#x2013; South: includes operations in Argentina, Bolivia, Chile, Paraguay and Uruguay. In addition Colombia, Ecuador and Peru, until &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016, &lt;/div&gt;due to exchange of shareholdings&lt;div style="display: inline; font-weight: bold;"&gt;, &lt;/div&gt;according the Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; - &lt;div style="display: inline; font-style: italic;"&gt;Corporate information&lt;/div&gt;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(iii) Normalized EBITDA is calculated excluding of the net income the following effects: (i) &lt;div style="display: inline; color: black"&gt;Income tax expense&lt;/div&gt;, (iii) &lt;div style="display: inline; color: black"&gt;Share of results of joint ventures&lt;/div&gt; (iii) &lt;div style="display: inline; color: black"&gt;Net finance result&lt;/div&gt;, (iv) Exceptional items, and (v) Depreciation, amortization and impairment of property, plant and equipment.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 201; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;(b)&lt;/td&gt; &lt;td&gt;Additional information &amp;#x2013; by Business unit &amp;#x2013; Years ended in:&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="35" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Latin America - north&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;CAC&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;Brazil&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,733.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,973.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,328.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26,353.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24,954.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26,326.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,086.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28,927.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29,654.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt"&gt;Cost of sales&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,045.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,798.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,563.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9,889.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9,071.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8,358.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(11,935.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10,870.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9,921.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Gross profit&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,687.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,174.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,765.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,463.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,882.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,967.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,151.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,057.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,733.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 8pt; text-align: left"&gt;Distribution expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(538.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(409.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(357.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,655.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,555.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,352.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,193.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,965.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,709.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Sales and marketing expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(526.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(456.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(390.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,129.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,214.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,873.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,655.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,671.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,264.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Administrative expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(265.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(171.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(158.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,689.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,314.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,441.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,954.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,486.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,599.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Other operating income/(expenses)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;77.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,092.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,274.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,871.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,170.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,283.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,871.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(23.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,196.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(265.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(56.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,183.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(273.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Income from operations (EBIT)&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,412.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,132.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;851.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,049.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,269.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,906.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,462.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,401.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,757.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net finance cost&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(46.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,646.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,685.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,885.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,693.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,694.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,842.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;Share of result of joint ventures&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Income before income tax&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,371.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,142.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;894.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,392.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,558.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,022.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,764.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,700.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,916.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Income tax expense&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(353.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(318.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(269.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,956.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,418.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,615.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,309.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,100.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,884.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Net income&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,018.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;823.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;624.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,436.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,976.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,407.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,454.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,800.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,032.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 8pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Normalized EBITDA&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(iii)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,842.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,483.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,173.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,391.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,321.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,100.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,233.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,805.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,274.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(23.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,196.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(265.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(56.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,183.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(273.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Depreciation, amortization and impairment&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(406.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(338.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(314.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,309.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,248.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,928.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,715.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,586.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,242.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net finance costs&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(46.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,646.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,685.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,885.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,693.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,694.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,842.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt"&gt;Share of result of joint ventures&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Income tax expense&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(353.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(318.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(269.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,956.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,418.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,615.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,309.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,100.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,884.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Net income&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,018.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;823.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;624.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,436.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,977.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,407.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,454.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,800.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,032.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Normalized EBITDA margin in %&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;38.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;37.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;43.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;44.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;51.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) Normalized EBITDA is calculated excluding of the net income the following effects: (i) &lt;div style="display: inline; color: black"&gt;Income tax expense&lt;/div&gt;, (iii) &lt;div style="display: inline; color: black"&gt;Share of results of joint ventures&lt;/div&gt;, (iii) &lt;div style="display: inline; color: black"&gt;Net finance result&lt;/div&gt;, (iv) Exceptional items, and (v) Depreciation, amortization and impairment of property, plant and equipment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 202; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="35" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Brazil&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;Beer&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;Soft drink and &lt;br /&gt; Non-alcoholic and &lt;br /&gt; non-carbonated&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net sales&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,509.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21,173.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,441.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,843.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,781.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,884.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26,353.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24,954.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26,326.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt"&gt;Cost of sales&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7,895.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7,339.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6,757.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,994.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,731.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,600.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9,889.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9,071.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8,358.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Gross profit&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,614.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,833.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,683.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,849.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,049.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,284.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,463.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,882.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,967.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 8pt; text-align: left"&gt;Distribution expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,961.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,891.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,754.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(694.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(663.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(598.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,655.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,555.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,352.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Sales and marketing expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,953.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,044.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,691.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(175.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(170.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(182.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,129.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,214.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,873.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Administrative expenses&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,476.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,160.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,341.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(212.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(154.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(99.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,689.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,314.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,441.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Other operating income/(expenses)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;825.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;969.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,551.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;267.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;304.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;320.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,092.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,274.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,871.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(28.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,014.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(265.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;182.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,196.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(265.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Income from operations (EBIT)&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,020.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,721.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,182.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,029.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,547.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,723.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,049.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,269.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,906.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net finance cost&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,646.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,685.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,885.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,646.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,685.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,885.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;Share of result of joint ventures&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Income before income tax&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,362.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,010.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,299.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,029.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,547.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,723.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,392.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,558.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,022.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Income tax expense&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,956.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,418.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,615.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,956.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,418.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,615.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Net income&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,406.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,429.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,683.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,029.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,547.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,723.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,436.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,976.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,407.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 8pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Normalized EBITDA &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,047.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,618.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,038.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,344.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,702.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,061.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,391.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,321.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,100.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Exceptional items&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(28.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,014.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(265.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;182.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,196.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(265.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Depreciation, amortization and impairment&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,999.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,911.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,590.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(310.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(337.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(338.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,309.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,248.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,928.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;Net finance costs&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,646.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,685.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,885.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,646.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,685.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,885.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt"&gt;Share of result of joint ventures&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt; text-align: left; padding-bottom: 1pt"&gt;Income tax expense&lt;/td&gt; &lt;td style="font-size: 8pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,956.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,418.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,615.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,956.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,418.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,615.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Net income&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,406.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,429.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,683.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,029.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,547.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,723.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,436.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,976.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,407.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;Normalized EBITDA margin in %&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;44.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;43.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 8pt; font-weight: bold; text-align: left"&gt;%&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) Normalized EBITDA is calculated excluding of the net income the following effects: (i) &lt;div style="display: inline; color: black"&gt;Income tax expense&lt;/div&gt;, (iii) &lt;div style="display: inline; color: black"&gt;Share of results of joint ventures&lt;/div&gt;, (iii) &lt;div style="display: inline; color: black"&gt;Net finance result&lt;/div&gt;, (iv) Exceptional items, and (v) Depreciation, amortization and impairment of property, plant and equipment.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory>
  <ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822438">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;EVENTS AFTER THE REPORTING PERIOD&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 21.3pt; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;i) In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2018, &lt;/div&gt;Ambev S.A., through its subsidiaries Labatt Breweries and Ambev Luxemburgo, acquired &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; new loans totaling approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$2.0&lt;/div&gt; billion, maturing in up to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; year.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;ii) In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2018, &lt;/div&gt;Ambev S.A., informed its investors and the market in general that, as per the notice to the market issued as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 1&lt;/div&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;st&lt;/div&gt;, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; concluded the transaction with ELJ, shareholder in Tenedora, owner of almost the totality of CND. As a result of the such transaction, the Company, directly and indirectly, became the owner of approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;85%&lt;/div&gt; of Tenedora, with ELJ owning the remaining &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15%,&lt;/div&gt; as well as the term of exercise of the call option becomes from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2019 &lt;/div&gt;to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2022.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory>
  <ifrs-full:DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-81">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 87%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Financial liabilities at December 31, 2016 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,106.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-indent: 9pt"&gt;Acquisition of investments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Total gains and losses in the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;650.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 9pt"&gt;Losses recognized in net income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;359.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 9pt"&gt;Losses recognized in equity&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;291.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Financial liabilities at December 31, 2017 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,764.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory>
  <ifrs-full:DisclosureOfFinanceCostExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-25">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Interest expense&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,571.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,547.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,062.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Capitalized borrowings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Net Interest on pension plans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(77.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(105.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(97.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Losses on hedging instruments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(616.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,575.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,267.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest on provision for disputes and litigations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(225.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(619.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(120.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Exchange variation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(339.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(310.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(721.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tax on financial transactions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(179.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(224.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(146.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Bank guarantee expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(89.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(87.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(80.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other financial results&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(193.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(132.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(92.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,291.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,597.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,562.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Non-recurring finance cost&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(976.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,268.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,597.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,562.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinanceCostExplanatory>
  <ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822337">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;FINANCE COST AND INCOME&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(a)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Finance costs&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Interest expense&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,571.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,547.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,062.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Capitalized borrowings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Net Interest on pension plans&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(77.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(105.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(97.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Losses on hedging instruments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(616.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,575.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,267.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Interest on provision for disputes and litigations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(225.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(619.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(120.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Exchange variation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(339.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(310.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(721.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Tax on financial transactions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(179.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(224.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(146.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Bank guarantee expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(89.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(87.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(80.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other financial results&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(193.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(132.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(92.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,291.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,597.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,562.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Non-recurring finance cost&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(976.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,268.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,597.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,562.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The exceptional net finance cost refers to PERT &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; which Ambev applied for &amp;#x2013; see Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19&lt;/div&gt; - &lt;div style="display: inline; font-style: italic;"&gt;Income tax and social contribution&lt;/div&gt; and to the realization of the exchange variation of loans settled with related parties historically recognized in shareholders' equity.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 205; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Interest expenses are presented net of the effect of interest rate derivative financial instruments which mitigate Ambev interest rate risk (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27&lt;/div&gt; &amp;#x2013; &lt;div style="display: inline; font-style: italic;"&gt;Financial instruments and risks&lt;/div&gt;). The interest expense are as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Financial liabilities measured at amortized cost&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(477.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(545.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(423.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Liabilities at fair value through profit or loss&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,076.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(961.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(601.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Fair value hedge - hedged items&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(19.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(49.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(22.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Fair value hedge - hedging instruments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(15.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,571.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,547.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,062.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(b)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Finance income&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Interest income&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;458.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;513.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;575.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Gains on derivative&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;73.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;113.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;428.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Financial assets at fair value through profit or loss&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;227.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;247.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;261.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other financial results&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;774.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;895.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,294.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Interest income arises from the following financial assets:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;233.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;241.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;425.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Investment securities held for trading&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;51.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;149.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other receivables&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;198.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;221.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;458.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;513.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;575.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory>
  <ifrs-full:DisclosureOfFinanceIncomeExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-27">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Interest income&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;458.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;513.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;575.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Gains on derivative&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;73.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;113.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;428.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Financial assets at fair value through profit or loss&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;227.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;247.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;261.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other financial results&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;774.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;895.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,294.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinanceIncomeExplanatory>
  <ifrs-full:DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-82">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Less than 1 year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Between 1 and 5 years&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;129.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;61.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;More than 5 years&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;71.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;66.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;236.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;154.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeExplanatory>
  <ifrs-full:DisclosureOfFinancialInstrumentsExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822407">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;FINANCIAL INSTRUMENTS AND RISKS&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Risk factors&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company is exposed to foreign currency&lt;div style="display: inline; font-size: 10pt"&gt;, &lt;/div&gt;interest rate&lt;div style="display: inline; font-size: 10pt"&gt;, &lt;/div&gt;commodity price&lt;div style="display: inline; font-size: 10pt"&gt;, &lt;/div&gt;liquidity and credit risk in the ordinary course of business&lt;div style="display: inline; font-size: 10pt"&gt;. The Company &lt;/div&gt;analyzes each of these risks both individually and as a whole to define strategies to manage the economic impact on &lt;div style="display: inline; font-size: 10pt"&gt;Company&amp;#x2019;s&lt;/div&gt; performance consistent with its Financial Risk Management Policy&lt;div style="display: inline; font-size: 10pt"&gt;.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company&amp;#x2019;s use of derivatives strictly follows its Financial Risk Management Policy approved by the Board of Directors. The purpose of the policy is to provide guidelines for the management of financial risks inherent to the capital markets in which Ambev carries out its operations. The policy comprises &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;four&lt;/div&gt; main aspects: (i) capital structure, financing and liquidity, (ii) transactional risks related to the business, (iii) financial statements translation risks and (iv) credit risks of financial counterparties.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 236; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The policy establishes that all the financial assets and liabilities in each country where Ambev operates must be denominated in their respective local currencies. The policy also sets forth the procedures and controls needed for identifying, measuring and minimizing market risks, such as variations in foreign exchange rates, interest rates and commodities (mainly aluminum, wheat, corn and sugar) that &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;affect Ambev&amp;#x2019;s revenues, costs and/or investment amounts. The policy states that all the known risks (e.g. foreign currency and interest) shall be hedged by contracting derivative financial instruments. Existing risks &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; yet recorded (e.g. future contracts for the purchase of raw material or property, plant and equipment) shall be mitigated using projections for the period necessary for the Company to adapt to the new costs scenario that &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;vary from &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;ten&lt;/div&gt; to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;fourteen&lt;/div&gt; months, also through the use of derivative financial instruments. Most of the translation risks are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; hedged. Any exception to the policy must be approved by the Board of Directors.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Derivative financial Instruments&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Derivative financial instruments authorized by the &lt;/div&gt;Financial Risk Management Policy &lt;div style="display: inline; font-size: 10pt"&gt;are futures contracts traded on exchanges, full deliverable forwards, non-deliverable forwards, swaps and options. At &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the Company and its subsidiaries had &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; target forward, swaps with currency verification or any other derivative operations representing a risk level above the nominal value of their contracts. The derivative operations are classified by strategies according to their purposes, as follows:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;i) Cash flow hedge derivative instruments &amp;#x2013; The highly probable forecast transactions contracted in order to minimize the Company's exposure to fluctuations of exchange rates and prices of raw materials, investments, equipment and services to be procured, protected by cash flow hedges that shall occur at various different dates during the next &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;fourteen&lt;/div&gt; months. Gains and losses classified as hedging reserve in equity are recognized in the income statement in the period or periods when the forecast and hedged transaction affects the income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;ii) Fair value hedge derivative instruments &amp;#x2013; operations contracted with the purpose of mitigating the Company&amp;#x2019;s net indebtedness against foreign exchange and interest rate risk. Cash net positions and foreign currency debts are continually assessed for identification of new exposures.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The results of these operations, measured according to their fair value, are recognized in financial results.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;iii&lt;div style="display: inline; font-size: 10pt"&gt;) Net &lt;/div&gt;investment hedge &lt;div style="display: inline; font-size: 10pt"&gt;derivative instruments &amp;#x2013;&lt;/div&gt; transactions entered into in order to minimize exposure of the exchange differences arising from conversion of net investment in the Company's subsidiaries located abroad for translation account balance&lt;div style="display: inline; font-size: 10pt"&gt;. The effective p&lt;/div&gt;ortion &lt;div style="display: inline; font-size: 10pt"&gt;of the &lt;/div&gt;hedge is allocated to &lt;div style="display: inline; font-size: 10pt"&gt;equity &lt;/div&gt;and the ineffectiveness &lt;div style="display: inline; font-size: 10pt"&gt;portion &lt;/div&gt;is recorded directly in financial results.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 237; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The following tables summarize the exposure of the Company that were identified and protected in accordance with the Company's Risk Policy. The following denominations have been applied:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Operational Hedge: Refers to the exposures arising from the core business of Ambev, such as: purchase of inputs, purchase of fixed assets and service contracts linked to foreign currency, which is protected through the use of derivatives.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Financial Hedge: Refers to the exposures arising from cash and financing activities, such as: foreign currency cash and foreign currency debt, which is protected through the use of derivatives.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Investment hedge in foreign operations: Refers mainly to exposures arising from cash hold in foreign currency in foreign subsidiaries whose functional currency is different from the consolidation currency.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Investment hedge - &lt;div style="display: inline; color: black"&gt;Put option granted on subsidiary&lt;/div&gt;: As detailed in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;d.4&lt;/div&gt;) the Company constituted a liability related to acquisition of Non-controlling interest in the Dominican Republic operations. This financial instrument is denominated in Dominican Pesos and is recorded in a Company which functional currency is the Real. The Company assigned this financial instrument as a hedging instrument for part of its net assets located in the Dominican Republic, in such manner the hedge result can be recorded in other comprehensive income of the group, following the result of the hedged item.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 238; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Transactions protected by derivative financial instruments in accordance with the Financial Risk Management Policy&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Fair Value&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Gain / (Losses)&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Exposure&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Risk&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Notional&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Assets&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Liability&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Finance Result&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Operational Result&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Equity&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="width: 17%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cost&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 15%"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(9,742.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;)&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;9,318.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;283.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(190.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(563.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(200.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;584.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Commodity&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2,378.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;)&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,955.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;166.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(70.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;103.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(4.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(6,879.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;)&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;6,879.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;86.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(93.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(556.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(331.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;630.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Euro&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(82.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;)&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;82.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(4.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;6.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Mexican Pesos&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(401.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;401.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;27.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(25.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;27.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(47.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Fixed Assets&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(579.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;579.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(10.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(531.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;531.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(10.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Euro&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(47.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;47.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Expenses&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(177.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;/div&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;177.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(169.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;169.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Rupee&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(8.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;8.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cash&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,328.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,328.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(13.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(266.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,313.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,313.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(13.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(266.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest rate&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(15.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;15.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Debts&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(919.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;356.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;30.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(67.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(562.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(76.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest rate&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(356.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;356.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;30.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;8.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Equity Instrument&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2,347.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;677.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;69.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;67.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Stock Exchange Prices&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2,347.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;677.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;69.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;67.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;As of December 31, 2017&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(15,095.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12,438.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;385.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(217.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(834.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(196.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;586.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 239; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Fair Value&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Gain / (Losses)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Exposure&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Risk&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Notional&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Assets&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Liability&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Finance Result&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Operational Result&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Equity&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 17%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cost&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 15%"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(8,807.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;8,624.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;190.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(582.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,397.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;737.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(873.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Commodity&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,742.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,559.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;136.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(43.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(5.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(97.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;90.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(6,566.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;6,566.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;36.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(491.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,392.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;782.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(909.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Euro&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(135.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;135.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(4.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;56.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(42.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Mexican Pesos&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(359.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;359.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;18.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(43.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(4.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(13.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Brazilian Real&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fixed Assets&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(523.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;523.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(76.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(187.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(430.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;430.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(5.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(119.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Euro&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(92.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;92.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(70.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(68.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Expenses&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(103.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;103.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;47.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;5.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(134.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(90.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;90.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;5.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(29.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Euro&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Canadian Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;50.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(106.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Rupee&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(12.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cash&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,043.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,043.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;7.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;592.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(592.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;7.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(55.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Euro&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;51.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(51.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;11.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest rate&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;400.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(400.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;40.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Debts&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2,547.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2,000.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;18.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(61.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(50.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,874.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,326.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(48.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(28.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest rate&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(673.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;673.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;15.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(12.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(22.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign Investments&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;35.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;37.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Euro&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Canadian Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;As of December 31, 2016&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(10,938.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;10,207.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;212.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(713.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,592.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;743.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(972.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 240; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;I.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Market risk&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;a.1&lt;/div&gt;) Foreign currency risk&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company &lt;div style="display: inline; font-size: 10pt"&gt;is exposed to foreign currency risk on borrowings, investments, purchases, dividends and/or interest expense/income whenever they are denominated in a currency other than the functional currency of the subsidiary. The main derivatives financial instruments used to manage foreign currency risk are futures contracts, swaps, options, non deliverable forwards and full deliverable forwards.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;a.2&lt;/div&gt;) Commodity Risk&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;A significant portion of the Company inputs comprises commodities, which historically have experienced substantial price fluctuations. The Company therefore uses both fixed price purchasing contracts and derivative financial instruments to minimize its exposure to commodity price volatility. The Company has important exposures to the following commodities: aluminum, sugar, wheat and corn. These derivative financial instruments have been designated as cash flow hedges.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;a.3&lt;/div&gt;) Interest rate risk&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company applies a dynamic interest rate hedging approach whereby the target mix between fixed and floating rate debt is reviewed periodically. The purpose of the Company&amp;#x2019;s policy is to achieve an optimal balance between cost of funding and volatility of financial results, taking into account market conditions as well as the Company&amp;#x2019;s overall business strategy and this strategy is reviewed periodically.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The table below demonstrates the Company&amp;#x2019;s exposure related to debts, before and after interest rates hedging strategy.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Pre - Hedge&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Post - Hedge&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Interest rate&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Amount&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Interest rate&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Amount&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; text-align: left"&gt;Brazilian Real&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;402.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;714.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;American Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;555.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;555.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Canadian Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;685.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;685.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Barbadian Dollar&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Interest rate postfixed&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,648.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,960.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Brazilian Real&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;682.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;370.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Working Capital in Argentinean Peso&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Dominican Peso&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;188.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;188.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;American Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Guatemala&amp;acute;s Quetzal&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Interest rate pre-set&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;906.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;594.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 241; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Pre - Hedge&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Post - Hedge&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Interest rate&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Amount&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Interest rate&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Amount&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; text-align: left"&gt;Brazilian Real&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;667.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,375.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;American Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,882.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;565.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Canadian Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,259.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,259.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Barbadian Dollar&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Interest rate postfixed&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,814.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,205.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Brazilian Real&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,223.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;841.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Dominican Peso&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;288.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;288.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;American Dollar&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Guatemala&amp;acute;s Quetzal&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Barbadian Dollar&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;48.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;48.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Interest rate pre-set&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,582.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,191.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Sensitivity analysis&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company mitigates risks arising from non-derivative financial assets and liabilities substantially, through derivative financial instruments. In this context, the Company has identified the main risk factors that &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;generate losses from these derivative financial instruments and has developed a sensitivity analysis based on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; scenarios, which &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;impact the Company&amp;#x2019;s future results and/or cash flow, as described below:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; &amp;#x2013; Probable scenario: Management expectations of deterioration in each transaction&amp;#x2019;s main risk factor. To measure the possible effects on the results of derivative transactions, the Company uses parametric Value at Risk &amp;#x2013; VaR. is a statistical measure developed through estimates of standard deviation and correlation between the returns of several risk factors. This model results in the loss limit expected for an asset over a certain time period and confidence interval. Under this methodology, we used the potential exposure of each financial instrument, a range of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;95%&lt;/div&gt; and horizon of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21&lt;/div&gt; days after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;for the calculation, which are presented in the module.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt; &amp;#x2013; Adverse scenario: &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25%&lt;/div&gt; deterioration in each transaction&amp;#x2019;s main risk factor as compared to the level observed on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; &amp;#x2013; Remote scenario: &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50%&lt;/div&gt; deterioration in each transaction&amp;#x2019;s main risk factor as compared to the level observed on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017.&lt;/div&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 242; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="text-align: right; vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; vertical-align: bottom"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Transaction&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: left; vertical-align: bottom"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Risk&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Fair value&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Probable scenario&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Adverse scenario&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Remote&lt;br /&gt; scenario&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Commodities hedge&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 12%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Decrease on commodities price&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;95.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(70.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(392.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(881.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Input purchase&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(95.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;108.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;498.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,093.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign exchange hedge&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign currency decrease&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(105.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,843.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3,684.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Input purchase&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;105.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,843.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3,684.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Costs effects&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;38.1&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;105.9&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;211.8&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign exchange hedge&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign currency decrease&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(8.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(16.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(153.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(298.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Capex Purchase&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;8.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;16.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;153.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;298.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Fixed assets effects&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign exchange hedge&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign currency decrease&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(45.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(90.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Expenses&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;45.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;90.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Expenses effects&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Hedge cambial&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign currency increase&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(13.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(37.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(341.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(669.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cash&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;13.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;37.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;341.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;669.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest Hedge&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Decrease in interest rate&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest revenue&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cash effects&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Hedge cambial&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign currency decrease&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cash&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;9.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;140.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;281.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest Hedge&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Increase in interest rate&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;28.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;18.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(131.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(162.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest expenses&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(28.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(18.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;131.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;162.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Debt effects&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;9.7&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;140.6&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;281.3&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Equity Instrument Hedge&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Stock Exchange Price Decrease&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;69.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;54.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(100.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(269.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Expenses&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(69.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(19.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;517.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,104.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Equity effects&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;34.9&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;417.7&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;835.5&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;82.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;664.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,328.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 243; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;the Notional and Fair Value amounts per instrument and maturity were as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Notional Value&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Exposure&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Risk&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2020&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2021&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&amp;gt; 2021&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 12%; font-size: 10pt; font-weight: bold"&gt;Cost&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,219.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;99.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,318.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Commodity&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,859.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;96.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,955.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,879.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,879.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Euro&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;82.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;82.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Mexican Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;398.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;401.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Fixed asset&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;579.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;579.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;531.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;531.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Euro&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;177.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;177.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;169.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;169.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Rupee&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Cash&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,313.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,328.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,313.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,313.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest rate&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Debt&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;110.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;246.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;356.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest rate&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;110.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;246.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;356.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Foreign Investments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;677.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;677.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;677.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;677.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,966.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;99.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;110.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;246.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,438.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 244; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Fair Value&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;Exposure&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Risk&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2018&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2019&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2020&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2021&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&amp;gt; 2021&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 12%; font-size: 10pt; font-weight: bold"&gt;Cost&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;89.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;93.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Commodity&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;91.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;95.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(7.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Euro&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Mexican Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Fixed asset&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Euro&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Rupee&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Cash&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;American Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest rate&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Debt&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Interest rate&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Equity Instrument&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;69.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;69.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Stock prices&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;69.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;69.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;134.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;167.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;II.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Credit Risk&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Concentration of credit risk on trade receivables&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;A substantial part of the Company&amp;#x2019;s sales is made to distributors, supermarkets and retailers, within a broad distribution network. Credit risk is reduced because of the widespread number of customers and control procedures used to monitor risk. Historically, the Company has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; experienced significant losses on receivables from customers.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic;"&gt;Concentration of credit risk on counterpart&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In order to minimize the credit risk of its investments, the Company has adopted procedures for the allocation of cash and investments, taking into consideration limits and credit analysis of financial institutions, avoiding credit concentration, i.e., the credit risk is monitored and minimized to the extent that negotiations are carried out only with a select group of highly rated counterparties.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The selection process of financial institutions authorized to operate as the Company&amp;#x2019;s counterparty is set forth in our Credit Risk Policy. This Credit Risk Policy establishes maximum limits of exposure to each counterparty based on the risk rating and on each counterparty's capitalization.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 245; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In order to minimize the risk of credit with its counterparties on significant derivative transactions, the Company has adopted bilateral &amp;#x201c;trigger&amp;#x201d; clauses. According to these clauses, where the fair value of an operation exceeds a percentage of its notional value (generally between &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10%&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15%&lt;/div&gt;), the debtor settles the difference in favor of the creditor.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 57.75pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;the Company held its main short-term investments with the following financial institutions: Banco do Brasil, Bradesco, Bank Mendes Gans, Caixa Econ&amp;ocirc;mica Federal, Citibank, Ita&amp;uacute;, JP Morgan Chase, Merrill Lynch, Santander e Toronto Dominion Bank. The Company had derivative agreements with the following financial institutions: Banco Bisa, Barclays, BNB, BNP Paribas, Bradesco, Bank Mendes Gans, Citibank, Deutsche Bank, Ita&amp;uacute;, Goldman Sachs, JP Morgan Chase, Macquarie, Merrill Lynch, Morgan Stanley, Santander, ScotiaBank e TD Securities.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The carrying amount of cash and cash equivalents, investment securities, trade receivables excluding prepaid expenses, recoverable taxes and derivative financial instruments are disclosed net of provisions for impairment and represents the maximum exposure of credit risk as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017. &lt;/div&gt;There was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; concentration of credit risk with any counterparties as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;III.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Liquidity Risk&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company believes that cash flows from operating activities&lt;div style="display: inline; font-size: 10pt"&gt;, &lt;/div&gt;cash and cash equivalents and short-term investments&lt;div style="display: inline; font-size: 10pt"&gt;, together &lt;/div&gt;with the derivative &lt;div style="display: inline; font-size: 10pt"&gt;financial &lt;/div&gt;instruments and access to loan facilities &lt;div style="display: inline; font-size: 10pt"&gt;are&lt;/div&gt; sufficient to finance capital expenditures&lt;div style="display: inline; font-size: 10pt"&gt;, &lt;/div&gt;financial liabilities and dividend payments in the future&lt;div style="display: inline; font-size: 10pt"&gt;.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;IV.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Equity price risk&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Through the equity swap transaction approved on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; May &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16th,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; and altered in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21th,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; by the Board of Directors of Ambev (see Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; - &lt;div style="display: inline; font-style: italic;"&gt;Corporate information&lt;/div&gt;) , the Company, or its subsidiaries, will receive the price variation related to its shares traded on the stock exchange or ADRs, neutralizing the possible effects of the stock prices&amp;#x2019; oscillation in view of the share-based payment of the Company. As these derivative instruments are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; characterized as hedge accounting they were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; therefore designated to any hedge.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 2017, &lt;/div&gt;an exposure equivalent to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$2.3&lt;/div&gt; billion in AmBev&amp;#x2019;s shares (or ADR&amp;#x2019;s) was partially hedged, resulting in a gain in income statement of R$ &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;67.0.&lt;/div&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 246; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;V.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Capital management&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Ambev is continuously optimizing its capital structure targeting to maximize shareholder value while keeping the desired financial flexibility to execute the strategic projects. Besides the statutory minimum equity funding requirements that apply to the Company&amp;#x2019;s subsidiaries in the different countries, Ambev is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; subject to any externally imposed capital requirements. When analyzing its capital structure, the Company uses the same debt ratings and capital classifications as applied in the Company&amp;#x2019;s financial statements.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Financial instruments&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(a) Financial instruments categories&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Management of the financial instruments held by the Company is &lt;div style="display: inline; font-size: 10pt"&gt;effected through &lt;/div&gt;operational strategies and internal controls to assure liquidity, profitability and transaction security&lt;div style="display: inline; font-size: 10pt"&gt;. &lt;/div&gt;Financial instruments &lt;div style="display: inline; font-size: 10pt"&gt;transactions are &lt;/div&gt;regularly reviewed &lt;div style="display: inline; font-size: 10pt"&gt;for the effectiveness &lt;/div&gt;of &lt;div style="display: inline; font-size: 10pt"&gt;the &lt;/div&gt;risk exposure that management intends to cover (foreign exchange, interest rate, &lt;div style="display: inline; font-size: 10pt"&gt;etc.).&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The table below shows all financial instruments recognized in the financial statements, &lt;div style="display: inline; font-size: 10pt"&gt;segregated &lt;/div&gt;by category&lt;div style="display: inline; font-size: 10pt"&gt;:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Loans and receivables&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Held for trading&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Financial assets/liabilities at fair value through profit or loss&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Derivatives hedge&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Financial liabilities through amortized cost&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Financial assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 34%; font-size: 10pt; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,354.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,354.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Investment securities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;122.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;133.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivables excluding prepaid expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,505.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,505.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Financial instruments derivatives&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;285.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;385.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,859.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;122.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;112.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;285.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,378.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Financial liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade payables and put option granted on subsidiary and other liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,764.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,502.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,266.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Financial instruments derivatives&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;201.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;217.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Interest-bearning loans and borrowings&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,553.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,553.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,780.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;201.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,055.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,036.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 247; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Loans and receivables&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Held for trading&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Financial assets/liabilities at fair value through profit or loss&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Derivatives hedge&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Financial liabilities through amortized cost&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Financial assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 34%; font-size: 10pt; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,876.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,876.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Investment securities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;104.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;282.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;387.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivables excluding prepaid expenses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,962.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,962.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Financial instruments derivatives&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;194.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;212.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14,839.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;104.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;301.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;194.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,439.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Financial liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade payables and put option granted on subsidiary and other liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,106.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,208.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,314.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Financial instruments derivatives&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;49.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;663.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;713.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Interest-bearning loans and borrowings&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,396.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,396.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,156.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;663.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,604.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24,423.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(b) Classification of financial instruments by type of fair value measurement&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13&lt;/div&gt; defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Also pursuant to IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13,&lt;/div&gt; financial instruments measured at fair value shall be classified within the following categories&lt;div style="display: inline; background-color: white"&gt;:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; background-color: white"&gt;Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; &amp;#x2013; quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date valuation;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; background-color: white"&gt;Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt; &amp;#x2013; inputs other than quoted prices included within Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; that are observable for the asset or liability, either directly or indirectly; and&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; background-color: white"&gt;Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; &amp;#x2013; unobservable inputs for the asset or liability.&lt;/div&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 248; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; background-color: white"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Level 1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Level 2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Level 3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Total&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Level 1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Level 2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Level 3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Total&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-decoration: underline; text-align: left"&gt;Financial assets&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="width: 12%; font-size: 10pt; text-align: left"&gt;Financial asset at fair value through profit or loss&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;282.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;282.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;Derivatives assets at fair value through profit or loss&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Derivatives - operational hedge&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;280.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;285.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;83.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;110.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;194.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;380.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;397.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;369.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;126.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;495.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-decoration: underline; text-align: left"&gt;Financial liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Financial liabilities at fair value through profit and loss &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,764.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,764.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,106.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,106.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;Derivatives liabilities at fair value through profit or loss&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;40.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;49.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;Derivatives - operational hedge&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;58.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;143.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;201.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;78.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;575.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;654.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Derivatives - fair value hedge&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;60.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;157.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,764.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,981.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;88.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;624.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,106.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,819.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) Refers to the put option granted on subsidiary as described in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21&lt;/div&gt; d(&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4&lt;/div&gt;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Reconciliation of changes in the categorization of Level &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 87%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Financial liabilities at December 31, 2016 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,106.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-indent: 9pt"&gt;Acquisition of investments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Total gains and losses in the year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;650.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; text-indent: 9pt"&gt;Losses recognized in net income&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;359.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 9pt"&gt;Losses recognized in equity&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;291.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Financial liabilities at December 31, 2017 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,764.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) The liability was recorded under &amp;#x201c;Trade payables and put option granted on subsidiary and other liabilities&amp;#x201d; on the balance sheet.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(c) Fair value of financial liabilities measured at amortized cost&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company&amp;#x2019;s liabilities, interest-bearing loans and borrowings, trade payables excluding tax payables, are recorded at amortized cost according to the effective rate method, plus indexation and foreign exchange gains/losses, based on closing indices for each exercise.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The financial instruments recorded at amortized cost are similar to the fair value and are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; material for disclosure.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Calculation of fair value of derivatives&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company measures derivative financial instruments by calculating their present value, through the use of market curves that impact the instrument on the computation dates. In the case of swaps, both the asset and the liability positions are estimated independently and brought to present value, where the difference between the result of the asset and liability amount generates the swaps market value. For the traded derivative financial instruments, the fair value is calculated according to the adjusted exchange-listed price.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 249; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Margins given in guarantee&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In order to comply with the guarantee requirements of the derivative exchanges and/or counterparties in certain operations with derivative financial instruments, as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;the Company held &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$608.3&lt;/div&gt; in highly liquid financial investments or in cash, classified as cash and cash equivalents and investment securities (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$486.8&lt;/div&gt; on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016).&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Offsetting of financial assets and liabilities&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For financial assets and liabilities subject to settlement agreements by the net or similar agreements, each agreement between the Company and the counterparty allows this type of settlement when both parties make this option. In the absence of such election, the assets and liabilities will be settled by their amounts, but each party shall have the option to settle on net, in case of default by the counterparty.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinancialInstrumentsExplanatory>
  <ifrs-full:DisclosureOfFinancialRiskManagementExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-75">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2017&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Fair Value&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Gain / (Losses)&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Exposure&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Risk&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Notional&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Assets&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Liability&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Finance Result&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Operational Result&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Equity&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="width: 17%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cost&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 15%"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(9,742.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;)&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;9,318.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;283.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(190.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(563.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(200.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;584.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Commodity&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2,378.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;)&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,955.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;166.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(70.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;103.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(4.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(6,879.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;)&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;6,879.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;86.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(93.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(556.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(331.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;630.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Euro&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(82.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;)&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;82.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(4.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;6.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Mexican Pesos&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(401.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;401.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;27.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(25.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;27.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(47.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Fixed Assets&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(579.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;579.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(10.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(531.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;531.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(10.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Euro&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(47.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;47.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Expenses&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(177.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;/div&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;177.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(169.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;169.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Rupee&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(8.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;8.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cash&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,328.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,328.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(13.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(266.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,313.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,313.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(13.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(266.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest rate&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(15.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;15.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Debts&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(919.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;356.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;30.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(67.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(562.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(76.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest rate&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(356.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;356.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;30.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;8.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Equity Instrument&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2,347.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;677.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;69.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;67.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Stock Exchange Prices&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2,347.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;677.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;69.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;67.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;As of December 31, 2017&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(15,095.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12,438.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;385.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(217.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(834.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(196.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;586.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2016&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Fair Value&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Gain / (Losses)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Exposure&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Risk&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Notional&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Assets&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Liability&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Finance Result&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Operational Result&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Equity&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 17%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cost&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 15%"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(8,807.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;8,624.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;190.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(582.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,397.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;737.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(873.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Commodity&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,742.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,559.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;136.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(43.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(5.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(97.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;90.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(6,566.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;6,566.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;36.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(491.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,392.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;782.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(909.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Euro&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(135.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;135.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(4.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;56.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(42.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Mexican Pesos&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(359.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;359.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;18.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(43.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(4.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(13.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Brazilian Real&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fixed Assets&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(523.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;523.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(76.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(187.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(430.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;430.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(5.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(119.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Euro&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(92.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;92.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(70.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(68.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Expenses&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(103.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;103.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;47.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;5.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(134.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(90.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;90.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;5.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(29.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Euro&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Canadian Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;50.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(106.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Rupee&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(12.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;12.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cash&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,043.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,043.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;7.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;592.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(592.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;7.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(55.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Euro&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;51.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(51.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;11.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest rate&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;400.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(400.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;40.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Debts&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2,547.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2,000.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;18.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(61.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(50.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,874.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,326.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(48.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(28.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest rate&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(673.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;673.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;15.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(12.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(22.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign Investments&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;35.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;American Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;37.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Euro&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Canadian Dollar&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;As of December 31, 2016&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(10,938.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;10,207.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;212.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(713.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,592.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;743.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(972.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfFinancialRiskManagementExplanatory>
  <ifrs-full:DisclosureOfGoodwillExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822348">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;GOODWILL&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30,511.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30,953.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of movements in foreign exchange&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;489.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,388.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Acquisition and disposal through business combinations &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;401.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,947.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at the end of year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,401.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30,511.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; it refers mainly to the goodwill allocation of acquisition of Cachoeiras de Macacu, and in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; refers to the acquisition of Mark Anthony and Cerveceria Nacional in the transaction of exchange of shareholdings.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 209; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The carrying amount of goodwill was allocated to the different cash-generating units as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;Functional currency&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;LAN:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 61%; font-size: 10pt"&gt;Brazil&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;BRL&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,668.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,424.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-indent: 10pt"&gt;Goodwill&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;102,911.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;102,667.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-indent: 10pt"&gt;Non-controlling transactions (i)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(85,242.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(85,242.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Dominican Republic&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;DOP&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,163.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,224.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cuba &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;USD&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Panama&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;PAB&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,149.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,060.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;LAS:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Argentina&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ARS&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;443.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;518.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Bolivia&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;BOB&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,170.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,152.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Chile&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;CLP&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Paraguay&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;PYG&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;786.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;753.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Uruguay&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;UYU&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;170.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;165.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;NA:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Canada&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;CAD&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,800.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,165.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,401.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30,511.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) It refers to the exchange of shareholdings operation occurred in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2013&lt;/div&gt; as a result of the adoption of the predecessor basis of accounting.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(ii) The functional currency of Cuba, the Cuban convertible peso (CUC), has a fixed parity with the dollar (USD) at balance sheet date.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Annual impairment testing&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Goodwill impairment testing relies on a number of critical judgments, estimates and assumptions. Goodwill, which accounted for approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;36%&lt;/div&gt; of total assets as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 (&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;36%&lt;/div&gt; as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016) &lt;/div&gt;is tested for impairment at the cash-generating unit level (that is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; level below the reporting segments). The cash-generating unit level is the lowest level at which goodwill is monitored for internal management purposes. In a business combination occurs, goodwill is allocated as from the acquisition date, to each of business units that are expected to benefit from the synergies of the combination.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company&amp;#x2019;s impairment testing methodology is in accordance with IAS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;36,&lt;/div&gt; in which a fair-value-less-cost-to-sell and value in use approaches are taken into consideration. This consists in applying a discounted cash flow approach based on acquisition valuation models for its major business units and the business units showing high capital amounts invested in earnings before interest, taxes, depreciation and amortization (&amp;#x201c;EBITDA&amp;#x201d;) multiples. The ratio between invested capital and EBITDA is basis for selecting the cash generating units to be tested.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 210; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;Only for CGU Latin America North there was need to apply the impairment test;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 1.85pt 0pt 21.3pt; font-size: 10pt; text-align: justify; text-indent: -21.3pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;For Latin America South and Canada there was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; need to apply the impairment test.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The key judgments, estimates and assumptions used in the discounted free cash flow calculations are generally as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 1.85pt 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;The &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;first&lt;/div&gt; year of the model is based on management's best estimate of the free cash flow outlook for the current year;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 1.85pt 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify; padding-right: 1.85pt"&gt;In the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;second&lt;/div&gt; to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;fourth&lt;/div&gt; years of the model, free cash flows are based on ABInBev's strategic plan as approved by key management. AB&amp;nbsp;InBev's strategic plan is prepared per country and is based on external sources in respect of macro-economic assumptions, industry, inflation and foreign exchange rates, past experience and identified initiatives in terms of market share, revenue, variable and fixed cost, capital expenditure and working capital assumptions;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 1.85pt 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify; padding-right: 1.85pt"&gt;From the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;fifth&lt;/div&gt; to the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;tenth&lt;/div&gt; year of the model, as well as for perpetuity, the cash flows are extrapolated using expected long-term consumer price indices and the growth of the beer market, based on external sources specific from each UGC;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 1.85pt 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify; padding-right: 1.85pt"&gt;Projections are made in the functional currency of the business unit and discounted at the unit's weighted average cost of capital (&amp;#x201c;WACC&amp;#x201d;), considering sensitivities on this metric.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 1.85pt 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-family: Wingdings"&gt;&amp;sect;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify; padding-right: 1.85pt"&gt;Cost to sell is assumed to reach &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.5%&lt;/div&gt; of the entity value based on historical precedents.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The weighted average cost of capital in nominal dollars, for the impairment testing of goodwill performed varied as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="width: 74%; font-size: 10pt; text-align: left"&gt;Latin America North&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;from 8.59%&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.29%&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;from 8.39%&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.27%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Although Ambev believes that its judgments, assumptions and estimates are appropriate, actual results &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;differ from these judgments.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfGoodwillExplanatory>
  <ifrs-full:DisclosureOfIncomeTaxExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-29">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"&gt;Income tax expense - current&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,332.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(413.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,227.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Deferred tax expense on temporary differences&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;891.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(732.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,192.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Deferred tax over taxes losses carryforwards movements&amp;nbsp;&amp;nbsp;in the current period&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(638.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;831.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(214.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total deferred tax (expense)/income&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;253.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;98.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,406.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total income tax expenses&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,079.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(315.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,634.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfIncomeTaxExplanatory>
  <ifrs-full:DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-68">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;In R$, except when otherwise indicated&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 73%; font-size: 10pt"&gt;Fair value of options granted&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.51&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.21&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.84&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Share price&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.80&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17.18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.41&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Exercise price&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.80&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17.18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.41&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expected volatility&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Vesting year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expected dividends&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Risk-free interest rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory>
  <ifrs-full:DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-33">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt"&gt;Functional currency&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;LAN:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 61%; font-size: 10pt"&gt;Brazil&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;BRL&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,668.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,424.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-indent: 10pt"&gt;Goodwill&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;102,911.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;102,667.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-indent: 10pt"&gt;Non-controlling transactions (i)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(85,242.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(85,242.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Dominican Republic&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;DOP&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,163.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,224.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cuba &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;USD&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Panama&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;PAB&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,149.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,060.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;LAS:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Argentina&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;ARS&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;443.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;518.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Bolivia&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;BOB&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,170.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,152.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Chile&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;CLP&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Paraguay&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;PYG&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;786.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;753.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Uruguay&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;UYU&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;170.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;165.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;NA:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Canada&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;CAD&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,800.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,165.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,401.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30,511.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory>
  <ifrs-full:DisclosureOfInsuranceContractsExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822437">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;INSURANCE&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company has a program of risk management in order to hire coverage compatible with its size and operation. Coverage was contracted for amounts considered sufficient by management to cover possible losses, considering the nature of its activity, the risks involved in their operations and the orientation of its insurance advisors.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInsuranceContractsExplanatory>
  <ifrs-full:DisclosureOfIntangibleAssetsExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822352">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;INTANGIBLE &lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Distribution&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Brands&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;contracts&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Software&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Others&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Total&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Acquisition cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,160.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,319.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;888.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;460.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,829.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of movements in foreign exchange&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(10.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Acquisitions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisitions through business combination&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfers to other assets categories&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(650.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;265.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(352.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;46.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;46.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end of year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,514.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,333.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,144.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;540.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,533.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Amortization and Impairment losses&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,760.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(597.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(223.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,583.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Foreing exchange effects&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(138.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(118.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(32.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(290.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Transfers to other assets categories&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end of year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,894.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(711.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(250.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,858.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Carrying amount:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,158.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;558.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;291.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;236.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,245.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,512.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;438.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;432.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;290.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,674.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) The period of amortization of intangible assets of definite useful life is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;five&lt;/div&gt; &lt;/div&gt;years and amortization is calculated at the rate of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20&lt;/div&gt;%&lt;/div&gt; and recognized in income on a straight-line method.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Distribution&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Brands&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;contracts&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Software&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Others&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Total&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Acquisition cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,908.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,387.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;788.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;356.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,440.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of movements in foreign exchange&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(645.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(68.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(50.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(93.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(858.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Acquisitions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Disposal&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisitions through business combination&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,043.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,073.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisitions through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;228.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;248.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Disposals through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(58.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(67.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfers to other assets categories&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(317.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;135.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(24.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(206.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;172.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;172.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end of year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,160.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,319.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;888.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;460.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,829.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Amortization and Impairment losses (i)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,622.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(539.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(184.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,348.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Foreing exchange effects&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;40.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;79.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Amortization&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(148.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(94.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(80.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(323.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Disposal&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Disposals through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Transfers to other assets categories&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end of year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,760.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(597.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(223.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,583.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Carrying amount:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2015&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,906.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;765.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;248.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;172.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,092.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,158.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;558.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;291.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;236.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,245.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) The period of amortization of intangible assets of definite useful life is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;five&lt;/div&gt; years and amortization is calculated at the rate of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20%&lt;/div&gt; and recognized in income on a straight-line method.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 212; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company is the owner of some of the world&amp;#x2019;s leading brands in the beer industry. As a result, brands are expected to generate positive cash flows for as long as the Company owns the brands and accordingly have been assigned indefinite lives. The most representative brands that have been registered as result of fair value determination of past acquisitions are &lt;div style="display: inline; font-style: italic;"&gt;Quilmes&lt;/div&gt; in Argentina, &lt;div style="display: inline; font-style: italic;"&gt;Pilsen&lt;/div&gt; in Paraguay and Bolivia and &lt;div style="display: inline; font-style: italic;"&gt;Presidente &lt;/div&gt;and &lt;div style="display: inline; font-style: italic;"&gt;Presidente Light&lt;/div&gt; in Dominican Republic.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The carrying value of intangible assets with indefinite useful lives classified as brands was allocated to the following CGU:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt"&gt;Argentina&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;348.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;373.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Bolivia&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;567.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;558.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Brazil&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;575.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Canada&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;223.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;205.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Chile&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;69.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;63.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Luxembourg&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;339.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;419.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Paraguay&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;447.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;429.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Dominican Republic&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,396.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,422.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Uruguay&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;115.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;111.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,512.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,158.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Intangible assets with indefinite useful lives have been tested for impairment at a cash-generating unit level basis consistent with the same approach described in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14&lt;/div&gt; &amp;#x2013; &lt;div style="display: inline; font-style: italic;"&gt;Goodwill&lt;/div&gt;.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfIntangibleAssetsExplanatory>
  <ifrs-full:DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-36">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt"&gt;Argentina&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;348.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;373.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Bolivia&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;567.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;558.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Brazil&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;575.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Canada&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;223.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;205.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Chile&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;69.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;63.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Luxembourg&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;339.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;419.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Paraguay&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;447.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;429.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Dominican Republic&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,396.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,422.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Uruguay&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;115.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;111.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,512.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,158.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory>
  <ifrs-full:DisclosureOfInterestExpenseExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-26">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Financial liabilities measured at amortized cost&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(477.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(545.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(423.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Liabilities at fair value through profit or loss&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,076.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(961.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(601.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Fair value hedge - hedged items&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(19.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(49.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(22.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Fair value hedge - hedging instruments&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(15.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,571.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,547.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,062.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInterestExpenseExplanatory>
  <ifrs-full:DisclosureOfInterestIncomeExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-28">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Cash and cash equivalents&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;233.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;241.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;425.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Investment securities held for trading&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;51.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;149.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other receivables&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;198.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;221.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;458.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;513.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;575.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInterestIncomeExplanatory>
  <ifrs-full:DisclosureOfInventoriesExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822364">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;INVENTORIES &lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Finished goods&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,528.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,445.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Work in progress&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;309.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;328.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Raw material&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,816.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,962.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Consumables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;77.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Spare parts and other&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;476.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;447.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Prepayments&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;210.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;234.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Impairment losses&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(100.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(121.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,319.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,347.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Write-offs/losses on inventories recognized in the income statement amounted to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$73.2&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$114.4&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;).&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfInventoriesExplanatory>
  <ifrs-full:DisclosureOfIssuedCapitalExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-47">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Million of common shares&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Million of Real&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Million of common shares&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Million of Real&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 56%; font-size: 10pt; text-align: left"&gt;Beginning balance as per statutory books&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,717.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57,614.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,717.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57,614.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Share issued&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,717.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57,614.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,717.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57,614.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfIssuedCapitalExplanatory>
  <ifrs-full:DisclosureOfLeasesExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822419">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;div style=" margin: 0pt 0 0pt 21.3pt; font-size: 10pt; text-align: justify; text-indent: -21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28.&lt;/div&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp; OPERATING LEASES&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 21.3pt; font-size: 10pt; text-align: justify; text-indent: -21.3pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.85pt"&gt;The Company primarily leases warehouses and offices.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.85pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.85pt"&gt;The future contractual values mature as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.85pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Less than 1 year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Between 1 and 5 years&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;129.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;61.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;More than 5 years&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;71.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;66.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;236.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;154.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.85pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; the operating lease expense in the income statement amounted to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$39.0&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$43.4&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$58.7&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; respectively).&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfLeasesExplanatory>
  <ifrs-full:DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-59">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt"&gt;Present value of funded obligations&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5,027.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,592.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4,646.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Fair value of plan assets&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,006.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,845.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,781.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Present value of net obligations&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,021.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(746.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(865.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Present value of unfunded obligations&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(757.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(741.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(756.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Present value of net obligations&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,778.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,488.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,621.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Asset ceiling&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(368.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(532.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(534.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Net liability&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,147.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,020.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,156.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other long term employee benefits&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(105.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(83.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(57.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total employee benefits&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,252.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,104.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,213.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Employee benefits amount in the balance sheet:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Liabilities&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,310.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,137.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,221.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Assets&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;58.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Net liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,252.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,104.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,213.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfNetDefinedBenefitLiabilityAssetExplanatory>
  <ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-71">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;Thousand deferred shares&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Deferred shares outstanding at January 1&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;st&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,260&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,056&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,490&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;New deferred shares during the period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;794&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,329&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,692&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Deferred shares granted during the period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,874&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6,118&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(804&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Deferred shares forfeited during the period&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(880&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,007&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(322&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Deferred shares outstanding at ended year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,300&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,260&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,056&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory>
  <ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822328">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;OTHER OPERATING INCOME / (EXPENSES)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Government grants/NPV of long term fiscal incentives&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;993.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,166.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,755.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;(Additions)/reversals to provisions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(132.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(106.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Gains/(losses) on disposal of property, plant and equipment, intangible assets and operation in associates&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;91.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;70.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;53.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other operating income/(expenses), net&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;145.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;118.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;233.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,217.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,223.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,936.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Government grants are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; recognized until there is reasonable assurance that the Company will meet related conditions and that the grants will be received. Government grants are systematically recognized in income during the periods in which the Company recognizes as expenses the related costs that the grants are intended to offset.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory>
  <ifrs-full:DisclosureOfOtherProvisionsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-73">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Balance as of December 31, 2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Effect of changes in foreign exchange rates&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Additions&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Provisions used and reversed&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Balance as of December 31, 2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 45%; font-size: 10pt; font-weight: bold"&gt;Restructuring&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Provision for disputes and litigations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Taxes on sales&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;247.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;113.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(135.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;226.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Income tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;323.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;167.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(336.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;157.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Labor&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;165.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;142.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(176.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;129.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Civil&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;43.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;65.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(74.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;146.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;69.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(84.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;125.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total of provision for disputes and litigations&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;926.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;558.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(807.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;673.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total provisions&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;934.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;558.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(807.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;681.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfOtherProvisionsExplanatory>
  <ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822345">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;PROPERTY, PLANT AND EQUIPMENT&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Land and buildings&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Plant and equipment&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Fixtures and fittings&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Under construction&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Acquisition cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,330.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,764.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,584.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,740.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;37,419.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of movements in foreign exchange&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;34.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(27.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;228.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(24.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;204.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Acquisitions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;626.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;171.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,367.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,175.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(25.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(555.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(125.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(706.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfer to other asset categories&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;415.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,657.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;473.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,857.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(310.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;36.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,961.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24,538.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,076.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,257.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39,835.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Depreciation and Impairment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,278.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13,075.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,912.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(18,265.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Foreign exchange effects&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(104.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(116.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Depreciation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(299.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,245.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(655.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,200.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Impairment losses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(125.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(125.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Disposals and write-off&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;539.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;109.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;654.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfer to other asset categories&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,585.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(14,973.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,453.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(21,012.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Carrying amount:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,052.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,689.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,672.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,740.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,153.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,376.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,565.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,623.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,257.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18,822.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 208; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Land and buildings&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Plant and equipment&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Fixtures and fittings&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Under construction&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Total&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Acquisition cost&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,718.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,369.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,465.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,132.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;36,685.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of movements in foreign exchange&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(474.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,528.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(427.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(222.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,652.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisitions through business combinations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;283.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;360.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;56.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;700.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Acquisitions through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;221.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;185.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;433.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Disposals through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(121.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(344.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(101.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(571.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Acquisitions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;819.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;276.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,905.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,009.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(106.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(693.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(210.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,012.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Transfer to other asset categories&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;800.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,595.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;526.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,095.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(173.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,330.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22,764.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,584.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,740.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;37,419.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Depreciation and Impairment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,244.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12,562.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,738.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(17,545.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Foreign exchange effects&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;95.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;804.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;236.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,137.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Disposals through exchange transaction of shareholdings&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;52.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;241.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;51.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;345.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Depreciation&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(277.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,117.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(688.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,083.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Impairment losses&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(120.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(120.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Disposals&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;95.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;646.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;187.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;928.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Transfer to other asset categories&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;61.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,278.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13,075.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,912.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(18,265.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Carrying amount:&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2015&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,474.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,807.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,726.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,132.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,140.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6,052.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,689.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,672.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,740.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,153.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Leases, capitalized interests and fixed assets provided as guarantee are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; material.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory>
  <ifrs-full:DisclosureOfProvisionsExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822404">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;PROVISIONS&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(a) Provision changes &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Balance as of December 31, 2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Effect of changes in foreign exchange rates&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Additions&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Provisions used and reversed&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Balance as of December 31, 2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 45%; font-size: 10pt; font-weight: bold"&gt;Restructuring&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Provision for disputes and litigations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Taxes on sales&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;247.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;113.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(135.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;226.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Income tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;323.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;167.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(336.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;157.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Labor&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;165.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;142.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(176.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;129.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Civil&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;43.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;65.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(74.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;146.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;69.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(84.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;125.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total of provision for disputes and litigations&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;926.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;558.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(807.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;673.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total provisions&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;934.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;558.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(807.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;681.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(b)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Disbursement expectative&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Balance as of December 31, 2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;1 year or less&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;1-2 years&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2-5 years&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Over 5 years&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 45%; font-size: 10pt; font-weight: bold"&gt;Restructuring&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Provision for disputes and litigations&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Taxes on sales&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;226.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;179.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Income tax&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;157.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Labor&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;129.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;77.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Civil&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;35.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;125.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;83.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total of provision for disputes and litigations&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;673.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;161.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;351.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;130.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total provisions&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;681.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;169.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;351.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;131.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 235; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The expected settlement of provisions was based on management&amp;#x2019;s best estimate at the balance sheet date.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Main lawsuits with probable likelihood of loss:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(a) Income and Sales taxes&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In Brazil, the Company and its subsidiaries are involved in several administrative and judicial proceedings related to Income tax, ICMS, IPI, PIS and COFINS taxes. Such proceedings include, among others, tax offsets, credits and judicial injunctions exempting tax payment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(b) Labor&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company and its subsidiaries are involved in labor proceedings with former employees or former employees of service providers. The main issues involve overtime and related effects and respective charges.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(c) Civil&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company is involved in civil lawsuits considered with probable likelihood of loss. The most relevant portion of these lawsuits refers to former distributors, mainly in Brazil, which are mostly claiming damages resulting from the termination of their contracts.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The processes with possible probabilities are disclosed in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;- &lt;div style="display: inline; color: black"&gt;Contingent liability&lt;/div&gt;&lt;/div&gt;.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfProvisionsExplanatory>
  <ifrs-full:DisclosureOfReconciliationOfChangesInGoodwillExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-32">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at end of previous year&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30,511.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30,953.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Effect of movements in foreign exchange&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;489.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,388.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Acquisition and disposal through business combinations &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;401.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,947.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Balance at the end of year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31,401.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30,511.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfReconciliationOfChangesInGoodwillExplanatory>
  <ifrs-full:DisclosureOfRelatedPartyExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822428">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;RELATED PARTIES&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Policies and practices regarding the realization of transactions with related parties&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company adopts corporate governance practices and those recommended and/or required by the applicable law.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Under the Company&amp;#x2019;s by laws the Board of Directors is responsible for approving any transaction or agreements between the Company and/or any of its subsidiaries, directors and/or shareholders (including shareholders, direct or indirect shareholders of the Company). The Antitrust Compliance and Related Parties Committee of the Company is required to advise the Board of Directors of the Company in matters related to transactions with related parties.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Management is prohibited from interfering in any transaction in which conflict exists, even in theory, with the Company interests. It is also &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; permitted to interfere in decisions of any other management member, requiring documentation in the Minutes of Meeting of the Board any decision to abstain from the specific deliberation.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 258; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company&amp;#x2019;s guidelines with related parties follow reasonable or commutative terms, similar to those prevailing in the market or under which the Company would contract similar transactions with &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; parties. These are clearly disclosed in the financial statements as reflected in written contracts.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Transactions with management members:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In addition to short-term benefits (primarily salaries), the management members are entitled to participate in Stock Option Plan (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24&lt;/div&gt; &amp;#x2013; &lt;div style="display: inline; font-style: italic;"&gt;Share-based payments&lt;/div&gt;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Total expenses related to the Company&amp;#x2019;s management members are as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Short-term benefits &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;21.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Share-based payments &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;38.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;36.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total key management remuneration&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;72.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;57.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;71.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-size: 8"&gt;(i) These correspond substantially to management&amp;#x2019;s salaries and profit sharing (including performance bonuses).&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-size: 8"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-size: 8"&gt;(ii) These correspond to the compensation cost of stock options and restricted stocks granted to management. These amounts exclude remuneration paid to members of the Fiscal Council.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Excluding the above mentioned plan (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24&lt;/div&gt; &amp;#x2013; &lt;div style="display: inline; font-style: italic;"&gt;Share-based payments&lt;/div&gt;), the Company &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; longer has any type of transaction with the Management members or pending balances receivable or payable in its balance sheet.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Transactions with the Company's shareholders:&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;a&lt;div style="display: inline; font-size: 10pt"&gt;) Medical, &lt;/div&gt;dental and other benefits&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Funda&amp;ccedil;&amp;atilde;o Antonio e Helena Zerrenner Institui&amp;ccedil;&amp;atilde;o Nacional de Benefici&amp;ecirc;ncia (&amp;#x201c;Funda&amp;ccedil;&amp;atilde;o Zerrenner) is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; of Ambev&amp;#x2019;s shareholders, and at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;held &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.2%&lt;/div&gt; of total share capital. Funda&amp;ccedil;&amp;atilde;o Zerrenner is also an independent legal entity whose main goal is to provide Ambev&amp;#x2019;s employees, both active and retirees, with health care and dental assistance, technical and superior education courses, facilities for assisting elderly people, through direct initiatives or through financial assistance agreements with other entities. On &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016,&lt;/div&gt; actuarial responsibilities related to the benefits provided directly by Funda&amp;ccedil;&amp;atilde;o Zerrenner are fully funded by plan assets, held for that purpose, which significantly exceeds the liabilities at these dates. Ambev recognizes the assets (prepaid expenses) of this plan to the extent of amounts from economic benefits available to the Company, arising from reimbursements or future contributions reduction.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The expenses incurred by Funda&amp;ccedil;&amp;atilde;o Zerrenner in providing these benefits totaled &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$300.1&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$266.7&lt;/div&gt; as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016), &lt;/div&gt;of which &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$264.3&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$35.8&lt;/div&gt; related to active employees and retirees respectively (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$231.9&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$34.8&lt;/div&gt; as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016 &lt;/div&gt;related to active employees and retirees respectively).&lt;/div&gt; &lt;!-- Field: Page; Sequence: 259; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;b) Leasing &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Ambev, through its subsidiary BSA (labeling), has an asset leasing agreement with Funda&amp;ccedil;&amp;atilde;o Zerrenner, for &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$63,3&lt;/div&gt; for &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;ten&lt;/div&gt; years, maturing on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; March 31, 2018.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic;"&gt;c) Leasing &amp;#x2013; Ambev. head office&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Ambev has a leasing agreement of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; commercial sets with Funda&amp;ccedil;&amp;atilde;o Zerrenner in the annual amount of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$3.3,&lt;/div&gt; maturing on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January, 2020.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-style: italic;"&gt;d) Licensing agreement&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;The Company maintains a licensing agreement with Anheuser-Busch, Inc., to produce, bottle, sell and distribute Budweiser products in Brazil, Canada, and sales and distribution agreements of Budweiser products in Guatemala, Dominican Republic, Paraguay, El Salvador, Nicaragua, Uruguay and Chile. In addition, the Company produces and distributes Stella Artois products under license to ABI in Brazil and Canada and, by means of a license granted to ABI, it also distributes Brahma&amp;#x2019;s product in the United States and several countries such as the United Kingdom, Spain, Sweden, Finland and Greece. The amount recorded was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$1.9&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$2.0&lt;/div&gt; on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$52.8&lt;/div&gt; on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2015) &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$314.5&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$374.0&lt;/div&gt; on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$434.8&lt;/div&gt; on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2015) &lt;/div&gt;as licensing income and expense, respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Ambev has licensing agreements with the Group Modelo, subsidiaries of ABI, for to import, promote and sell products Corona (&lt;div style="display: inline; font-style: italic;"&gt;Corona Extra&lt;/div&gt;, &lt;div style="display: inline; font-style: italic;"&gt;Corona Light&lt;/div&gt;, &lt;div style="display: inline; font-style: italic;"&gt;Coronita&lt;/div&gt;, &lt;div style="display: inline; font-style: italic;"&gt;Pacifico&lt;/div&gt; and &lt;div style="display: inline; font-style: italic;"&gt;Negra Modelo&lt;/div&gt;) in countries of the Latin America and the Canada.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Transactions with related parties&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Current&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Trade receivables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Other Trade receivables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Trade payables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Other Trade payables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Borrowings and interest payable&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends payables&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 22%; font-size: 10pt; text-align: left"&gt;AB InBev&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(363.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;AB Procurement&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB Services&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB USA&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(375.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Ambrew&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(89.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cervecer&amp;iacute;a Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;91.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(589.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(59.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Inbev&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;23.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;ITW International&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(212.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(48.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(590.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Panam&amp;aacute; Holding&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(73.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;130.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;137.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,435.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(295.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(48.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(680.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(i) The amount represents the grade operations (purchase and sale) and the reimbursement between the companies of the group.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 260; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Current&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Trade receivables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Other Trade receivables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Trade payables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Other Trade payables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Borrowings and interest payable&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends payables&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 22%; font-size: 10pt; text-align: left"&gt;AB InBev&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(308.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB Package&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(31.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB Services&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB USA&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(247.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Ambev Peru&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Ambrew&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(89.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Bogot&amp;aacute; Beer&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;211.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(211.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cervecer&amp;iacute;a Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(444.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Inbev&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(17.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;ITW International&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(209.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(30.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(590.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(15.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(54.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(14.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;37.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;284.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,075.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(495.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(30.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(680.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(i) The amount represents the trade operations (purchase and sale) and the reimbursement between the companies of the group.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The tables below represent the transactions with related parties, recognized in the income statement:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Company&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Buying / Service fees / Rentals&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Sales&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Royalties&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Net finance cost&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; text-align: left"&gt;AB Procurement&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB USA&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(258.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(284.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Ambev Peru&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cervecer&amp;iacute;a Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(749.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(45.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Inbev&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(73.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(91.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(35.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,186.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;73.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(366.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Company&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Buying / Service fees / Rentals&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Sales&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Royalties&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Net finance cost&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; text-align: left"&gt;AB Package&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(32.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB USA&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(206.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;52.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(292.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cervecer&amp;iacute;a Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(596.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(46.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;InBev&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(77.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;ITW International&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(26.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(63.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;SAB Group&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;23.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(45.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(32.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,023.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;78.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(371.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(26.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 261; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Company&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Buying / Service fees / Rentals&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Sales&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Royalties&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;AB Inbev&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(55.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(35.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB USA&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(124.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;49.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(288.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cervecer&amp;iacute;a Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(257.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(52.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;InBev&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(73.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(356.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(74.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(942.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(377.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; text-decoration: underline;"&gt;Denomination used in the tables above&lt;/div&gt;:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellspacing="0" cellpadding="0" style="; border-collapse: collapse; font-size: 10pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="width: 100%; layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Anheuser-Busch InBev N.V. (&amp;#x201c;AB InBev&amp;#x201d;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Anheuser-Busch Packaging Group Inc. (&amp;#x201c;AB Package&amp;#x201d;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Anheuser-Busch Inbev Services LLC (&amp;#x201c;AB Services&amp;#x201d;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Anheuser-Busch Inbev USA LLC (&amp;#x201c;AB USA&amp;#x201d;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Compa&amp;ntilde;ia Cervecera Ambev Peru S.A.C. (&amp;#x201c;Ambev Peru&amp;#x201d;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Ambrew S.A. (&amp;#x201c;Ambrew&amp;#x201d;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Bogot&amp;aacute; Beer Company BBC S.A.S. (&amp;#x201c;Bogot&amp;aacute; Beer&amp;#x201d;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cervecer&amp;iacute;a Modelo de Mexico S. de R.L. de C.V. (&amp;#x201c;Cervecer&amp;iacute;a Modelo&amp;#x201d;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Inbev Belgium N.V. (&amp;#x201c;Inbev&amp;#x201d;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interbrew International B.V. (&amp;#x201c;ITW International&amp;#x201d;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cervecer&amp;iacute;a Modelo de Guadalajara S.A. (&amp;#x201c;Modelo&amp;#x201d;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Bavaria S.A. (&amp;#x201c;SAB Group&amp;#x201d;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfRelatedPartyExplanatory>
  <ifrs-full:DisclosureOfRevenueExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822326">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;NET SALES&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The reconciliation between gross sales and net sales is as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Gross sales &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;72,411.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;79,551.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;97,214.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Excise duty&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16,192.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16,345.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(17,471.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Discounts &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8,318.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(17,603.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33,022.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;47,899.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;45,602.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;46,720.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;(i)&lt;/td&gt; &lt;td style="text-align: justify"&gt;Variance resulting from the change in the billing method with direct effect on Gross sales and Discounts.&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Services provided by distributors, such as the promotion of our brands and logistics services are considered as expense when separately identifiable.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfRevenueExplanatory>
  <ifrs-full:DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-66">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;In millions of Brazilian Reais&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Change in assumption&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Increase in assumption&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Decrease in assumption&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Increase in assumption&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Decrease in assumption&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Increase in assumption&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Decrease in assumption&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: left"&gt;Medical cost trend rate&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100 bases points&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(119.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;102.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(104.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;90.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(77.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;67.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;Discount rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50 bases points&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;289.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(309.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;292.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(311.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;262.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(280.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;Future salary increase&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50 bases points&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(12.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;Longevity&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;One year&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(180.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;176.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(175.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;172.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(135.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;131.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory>
  <ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822397">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;SHARE-BASED PAYMENTS&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;There are different share-based payment programs and stock option plans which allow the senior management from the Company and its subsidiaries to receive or acquire shares of the Company. For all option plans, the fair value is estimated at grant date, using the Hull binomial pricing model, modified to reflect the IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt; requirement that assumptions about forfeiture before the end of the vesting period cannot impact the fair value of the option.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;This current model of share based payment includes &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; types of grants: Grant &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1:&lt;/div&gt; the beneficiary &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;choose to allocate &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30%,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;40%,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;60%,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;70%&lt;/div&gt; or &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;100%&lt;/div&gt; of the amount related to the profit share he received in the year, at the immediate exercise of options, thus acquiring the corresponding shares of the Company, and the delivery of a substantial part of the acquired shares is conditioned to the permanency in the Company for a period of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;five&lt;/div&gt;-years from the date of exercise; Grant &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2:&lt;/div&gt; the beneficiary &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;exercise the options after a period of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;five&lt;/div&gt; years.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Additionally, as a means of creating a long term incentive (wealth incentive) for certain senior employees and members of management considered as having &amp;#x201c;high potential,&amp;#x201d; the Company grant stocks to future delivery to those employees, pursuant to which the beneficiary shall receive &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; separate lots &amp;#x2013; Lot A and Lot B &amp;#x2013; subject to maturation periods of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;five&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;ten&lt;/div&gt; years, respectively.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In addition, the Company has implemented a Stock Based Payment Plan under which certain employees and members of the management of the Company or its direct or indirect subsidiaries are eligible to receive shares of the Company including in the form of ADR&amp;#x2019;s. The shares that are subject to the Stock Plan are designated as &amp;quot;Restricted Shares&amp;quot; and the restricted share price for the purposes of the stock plan will correspond to the price of the Company's shares on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;B3&lt;/div&gt; S.A.- Brasil, Bolsa, Balc&amp;atilde;o, in the trading session immediately prior to the stock concession Restricted.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 232; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The weighted average fair value of the options and assumptions used in applying the Ambev option pricing model for the &amp;#x201c;Grant &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&amp;#x201d;&lt;/div&gt; of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015&lt;/div&gt; grants are as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;In R$, except when otherwise indicated&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 73%; font-size: 10pt"&gt;Fair value of options granted&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.51&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.21&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.84&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Share price&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.80&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17.18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.41&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Exercise price&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.80&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17.18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.41&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expected volatility&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;26.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Vesting year&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Expected dividends&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Risk-free interest rate&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;%&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;(i)&amp;nbsp;&amp;nbsp;&amp;nbsp; Information based on weighted average plans granted, except for the expected dividends and risk-free interest rate.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(ii) The percentages include the grants of stock options and ADR&amp;#x2019;s during the period, in which the risk-free interest rate of ADR&amp;#x2019;s are calculated in U.S. dollar.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The total number of outstanding options developed as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;Thousand options&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Options outstanding at January 1&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;st&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;131,244&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;121,770&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;126,149&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Options issued during the period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20,435&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24,806&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,568&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Options exercised during the period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13,548&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(11,613&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(19,975&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Options forfeited during the period&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,910&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,719&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(972&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Options outstanding at ended year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;135,221&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;131,244&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;121,770&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The range of exercise prices of the outstanding options is between &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$0.001&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$0.02&lt;/div&gt; as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$0.35&lt;/div&gt; as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2015) &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$26.09&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$28.32&lt;/div&gt; as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2015 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$26.57&lt;/div&gt; as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2015) &lt;/div&gt;and the weighted average remaining contractual life is approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.40&lt;/div&gt; years (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.96&lt;/div&gt; years as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.30&lt;/div&gt; years as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2015).&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Of the &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;135,221&lt;/div&gt; thousand outstanding options (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;131,244&lt;/div&gt; thousand as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016), &lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;40,150&lt;/div&gt; thousand options are vested as at &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 (&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;52,780&lt;/div&gt; thousand as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016).&lt;/div&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 233; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The weighted average exercise price of the options is as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;In R$ per share&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Options outstanding at January 1 &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;st&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.87&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.36&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.07&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Options issued during the period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.82&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17.18&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.42&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Options forfeited during the period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17.88&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.83&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20.35&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Options exercised during the period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.81&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.52&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.05&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Options outstanding at ended period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.27&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.87&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12.36&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Options exercisable at ended period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.78&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.66&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.29&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For the options exercised during &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017,&lt;/div&gt; the weighted average share price on the exercise date was &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$18.87&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$18.41&lt;/div&gt; as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016).&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;To settle the exercised stock options, the Company &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;use treasury shares. The current limit of authorized capital is considered sufficient to meet all stock option plans if the issue of new shares is required to meet the grants awarded in the Programs.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;During the period, Ambev issued &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;794&lt;/div&gt; thousand (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,329&lt;/div&gt; thousand in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;) deferred stock units related to exercise of the options in the model &amp;#x201c;Grant &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&amp;#x201d;.&lt;/div&gt; These deferred stock units are valued at the share price of the day of grant, representing a fair value of approximately &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$15.2&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$133,9&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;), and cliff vest after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;five&lt;/div&gt; years.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The total number of shares purchased under the plan of shares by employees, whose grant is deferred to a future time under certain conditions (deferred stock), is shown below:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-style: italic"&gt;Thousand deferred shares&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2015&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Deferred shares outstanding at January 1&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;st&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,260&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,056&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,490&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;New deferred shares during the period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;794&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,329&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,692&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Deferred shares granted during the period&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,874&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6,118&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(804&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Deferred shares forfeited during the period&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(880&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,007&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(322&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Deferred shares outstanding at ended year&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16,300&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,260&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19,056&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Additionally, certain employees and directors of the Company receive options to acquire AB Inbev shares, the compensation cost of which is recognized in the income statement against equity.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;These share-based payments generated an expense of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$236.9&lt;/div&gt; in the year ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 (&lt;/div&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$189.3&lt;/div&gt; and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$209.4&lt;/div&gt; for the year ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015,&lt;/div&gt; respectively), recorded as administrative expenses.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory>
  <ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822435">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;GROUP COMPANIES&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 22.95pt; font-size: 10pt; text-align: justify; text-indent: -22.7pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Listed below are the main group companies.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 262; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellspacing="0" cellpadding="0" style="font-size: 10pt; border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; width: 82%; font-size: 10pt; layout-grid-mode: line"&gt;&lt;br /&gt; &lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Argentina&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; width: 18%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; margin: 0"&gt;CERVECERIA Y MALTERIA QUILMES SAICA Y G&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0"&gt;Charcas 5160 &amp;#x2013; Buenos Aires&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;99.75%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Bol&amp;iacute;via&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;CERVECERIA BOLIVIANA NACIONAL S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Avenida Montes 400 e Rua Chuquisaca 121 - La Paz&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;85.67%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Brazil&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;AMBEV S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Rua Dr. Renato Paes de Barros, 1.017, 3&amp;ordm; andar, Itaim Bibi, S&amp;atilde;o Paulo&lt;/div&gt;&lt;/td&gt; &lt;td style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Companhia Consolidadora &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; margin: 0"&gt;AROSUCO AROMAS E SUCOS LTDA.&lt;/div&gt; &lt;div style=" font-size: 10pt; margin: 0"&gt;Avenida Buriti, 5.385, Distrito Industrial - Manaus - AM&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;CRBS S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Avenida Antarctica, 1.891, Fazenda Santa &amp;Uacute;rsula &amp;#x2013; Jaguari&amp;uacute;na &amp;#x2013; SP&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;CERVEJARIA Z.X.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Avenida Antarctica, 1.891, Fazenda Santa Ursula &amp;#x2013; Jaguari&amp;uacute;na - SP&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" rowspan="2" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;86.42%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; layout-grid-mode: line"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Canad&amp;aacute;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;LABATT BREWING COMPANY LIMITED&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;207 Queens Quay West, Suite 299 - M5J 1A7 - Toronto&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Chile&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;CERVECERIA CHILE S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Avenida Presidente Eduardo Frei Montalva, 9.600 - Comuna de Quilicura - Santiago&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Spain&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;JALUA SPAIN, S.L.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Juan Vara Ter&amp;aacute;n, 14 &amp;#x2013; Ilhas Can&amp;aacute;rias&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Luxembourg&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;AMBEV LUXEMBOURG&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;15 Breedewues - L1259 - Sennngerberg&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Guatemala&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;INDUSTRIAS DEL ATL&amp;Aacute;NTICO, SOCIEDAD AN&amp;Oacute;NIMA&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;KM 122 Ruta al Atlantico &amp;#x2013; C.P 01012 Teculutan, Zacapa&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;50.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Paraguay&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;CERVECERIA PARAGUAYA S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Ruta Villeta KM 30 - Ypan&amp;eacute;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;87.36%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Dominican Republic&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;CERVECER&amp;Iacute;A NACIONAL DOMINICANA, S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Autopista 30 de Mayo, Distrito Nacional&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;55.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; width: 82%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; width: 18%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Uruguay&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;LINTHAL S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;25 de Mayo 444, office 401 - Montevideo&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;CERVECERIA Y MALTERIA PAYSSAND&amp;Uacute; S.A.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Rambla Baltasar Brum, 2.933 &amp;#x2013; 11800 - Payssandu&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;99.93%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;MONTHIERS SOCIEDAD AN&amp;Oacute;NIMA&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Cesar Cortinas, 2.037 - Montevideo&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom; width: 82%; font-size: 10pt; layout-grid-mode: line; text-align: justify"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Panama&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; width: 18%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="background-color: White"&gt; &lt;td nowrap="nowrap" style="vertical-align: bottom"&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Cervecer&amp;iacute;a Nacional S. de R.L.&lt;/div&gt; &lt;div style=" font-size: 10pt; text-align: justify; margin: 0"&gt;Planta Pasadena, v&amp;iacute;a Ricardo J Alfaro y Sim&amp;oacute;n Bol&amp;iacute;var, ciudad de Panam&amp;aacute;, Rep. De Panam&amp;aacute;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;100.00%&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory>
  <ifrs-full:DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-34">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td nowrap="nowrap" style="width: 74%; font-size: 10pt; text-align: left"&gt;Latin America North&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;from 8.59%&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; to&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.29%&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;from 8.39%&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;to&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10.27%&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory>
  <ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822318">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;There were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; significant changes in accounting policies and calculation methods used for the financial statements as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017 &lt;/div&gt;in relation to those presented in the financial statements for the years ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016 &lt;/div&gt;and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2015.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(a)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Basis of preparation and measurement&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; color: windowtext"&gt;The financial statements are presented in &lt;/div&gt;million &lt;div style="display: inline; color: windowtext"&gt;of Brazilian Real (&amp;#x201c;R$&amp;#x201d;), &lt;/div&gt;unless otherwise indicated, rounded to the nearest million indicated&lt;div style="display: inline; color: windowtext"&gt;. The measurement basis used in preparing the financial statements is historical cost, net realizable value, fair value or recoverable amount.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(b)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Recently issued IFRS&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The reporting standards below were published and are mandatory for future annual reporting periods. Although IFRSs anticipate early adoption, in Brazil, regulators have prevented this anticipation in order to preserve aspects of comparability. Accordingly, for the year ended &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017, &lt;/div&gt;these standards were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; applied in the preparation of these financial statements:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 175; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9&lt;/div&gt; - Financial Instruments&lt;/div&gt; (effective from annual periods beginning on or after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2018), &lt;/div&gt;which will replace IAS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39,&lt;/div&gt; introduces a logical approach for the classification of financial assets, which is driven by cash flow characteristics and the business model in which an asset is held; defines a new expected-loss impairment model that will require more effective recognition; and introduces a substantially-reformed model for hedge accounting, with enhanced disclosures about risk management activity. The new hedge accounting model represents a significant overhaul of the policies and aligns the accounting treatment with risk management activities. IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9&lt;/div&gt; also removes the volatility in profit or loss that was caused by changes in the credit risk of liabilities elected to be measured at fair value. The company evaluated the possible impacts arising from the application of IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9&lt;/div&gt; and does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; identify a significant impact on its financial position and/or its financial performance.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15&lt;/div&gt; - Revenue from Contracts with Customers&lt;/div&gt; (effective from annual periods beginning on or after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2018) &lt;/div&gt;requires revenue recognition to depict the transfer of goods or services to customers in amounts that reflect the consideration (that is, payment) to which the Company expects to be entitled in exchange for those goods or services. The new standard will also result in more and enhanced disclosures about revenue, provide guidance for transactions that were &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; previously addressed comprehensively (for example, service revenue and contract modifications) and improve guidance for multiple-element arrangements. In view of the Ambev&amp;#x2019;s activities, the company does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; identify that the application of IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15&lt;/div&gt; will have a significant impact on its financial position and/or its financial performance.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16&lt;/div&gt; &amp;#x2013; Leases&lt;/div&gt; (effective from annual periods beginning on or after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2019) &lt;/div&gt;replaces the existing lease accounting requirements and represents a significant change in the accounting and reporting of leases that were previously classified as operating leases, with more assets and liabilities to be reported on the balance sheet and a different recognition of lease costs.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The company is in process of assessing the full impact of IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16&lt;/div&gt; and expects changes in the presentation of operating leases in the balance sheet.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Other Standards, Interpretations and Amendments to Standards &lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The other amendments to standards effective for annual periods beginning after &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;&amp;nbsp;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; January 2017, &lt;/div&gt;have &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; been listed above because of either their non-applicability to or their immateriality to Ambev&amp;#x2019;s consolidated financial statements.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(c)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Consolidated financial statements&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The financial statements of subsidiaries, joint arrangements and associates used in its consolidated financial statements are prepared for the same reporting period as Ambev, using consistent accounting policies.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 176; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;All intercompany transactions, balances and unrealized gains or losses on transactions between group companies have been eliminated.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Subsidiaries&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company controls an entity when it is exposed to or has rights to variable returns due to its involvement with the organization and is able to affect those returns through its power over the entity. In assessing control, potential voting rights are taken into account. Control is presumed to exist where the Company owns, directly or indirectly, more than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; half of the voting rights (which does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; always equate to economic ownership), unless it can be demonstrated that such ownership does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; constitute control.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Subsidiaries are consolidated as from the date in which control is obtained to the Company, except when the predecessor basis of accounting is applied for common control transfers. Consolidation is discontinued as from the date control ceases.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Ambev uses the purchase method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interest issued by Ambev. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration agreement, when applicable. Costs related to the acquisition are recognized in income, as incurred. Assets, liabilities and contingent liabilities acquired/assumed in a business combination are recognized initially at their fair values at the acquisition date. Ambev recognizes the non-controlling interest in the acquiree, either at fair value or at the non-controlling interest&amp;#x2019;s proportionate share of the net assets acquired. The measurement of non-controlling interest to be recognized is determined for each acquisition.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The excess: (i) of the consideration paid; (ii) of the amount of any non-controlling interests in the acquiree (when applicable); and (iii) of the fair value, at acquisition date, of any previous equity interest in the acquiree, over the fair value of the net identifiable assets acquired, at the date of acquisition, is recorded as goodwill. When the consideration transferred is less than the fair value of net assets acquired, the difference is recognized directly in income.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;All intercompany transactions, balances and unrealized gains and losses on transactions between group companies have been eliminated. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; evidence of impairment.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 177; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Joint arrangements&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Joint arrangements are all entities over which the Company shares control with &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; or more parties. Joint arrangements are classified as either joint operations or joint ventures depending on the contractual rights and obligations of each investor.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Business combination between entities under common control&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;Business combinations between entities under common control have &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; been addressed by IFRS&amp;#x2019;s. The IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; is the pronouncement that shall be applied to business combinations, however it explicitly excludes business combinations between entities under common control from its scope.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;Therefore, in accordance with IAS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8,&lt;/div&gt; Management has adopted an accounting practice which is consistent with United States Generally Accepted Accounting Principles (USGAAP) and United Kingdom Generally Accepted Accounting Principles (UKGAAP), the predecessor basis of accounting to record the carrying amount of the asset received, as recorded by the parent company.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Under the predecessor basis of accounting, when accounting for a transfer of assets or a swap of shares between entities under common control, the entity that receives the net assets or the equity interests (the acquirer) shall initially record the assets and liabilities transferred at their parent book value at the transfer date. If the book value of assets and liabilities transferred by the parent are different from the historical cost registered by the controlling entity of the entities under common control (the ultimate parent), the financial statements of the acquirer shall reflect the assets and liabilities transferred at the same cost of the ultimate parent.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Regarding transactions between entities under common control that involve the disposal or transfer of assets from the subsidiary to its parent company, i.e. - above the level of our consolidated financial statement &amp;#x2013;, the Company assess the existence of (i) conflict of interests and (ii) economic substance and purpose. Having fulfilled these assumptions, the Company adopted as a policy the concepts of IAS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16&lt;/div&gt; in order to provide adequate visibility and fair impact on the amount of the distributable results to our shareholders, specially the non-controlling interests. This policy also includes assets acquired through the swap of non-cash assets, or swap with a combination of cash and non-cash assets. The assets subject to the swap &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be of equal or different nature. The cost of such asset is measured at fair value, unless (i) the swap transaction is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; commercial in nature, or (ii) the fair value of the asset received (and the asset assigned) cannot be reliably measured. The acquired asset is measured through this way even if the assignor entity cannot immediately exclude the asset from its books. If the acquired asset is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; measurable at fair value, its cost is determined by the book value of the assigned asset.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 178; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Whenever there is a distribution of assets that is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; recorded as cash, the asset, before its distribution, is registered at fair value in the income account. This procedure is applicable to the distributions in which the assets are equal in nature and therefore treated equitably. However, similarly to IFRIC &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17,&lt;/div&gt; in the absence of a specific accounting practice for transactions under common control, we apply this procedure in our accounting practice. Also, we apply the same procedure to sales (products, supplies, etc.) we perform to our controlling entity, where the positive result of the sale is recognized in the income account.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(d)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Foreign currency translation&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 46.75pt 0pt 76.55pt; font-size: 10pt; text-align: justify; text-indent: -76.55pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 46.75pt 0pt 76.55pt; font-size: 10pt; text-align: justify; text-indent: -76.55pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Functional and presentation currency&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The items included in the financial statements of each subsidiary of the Company are measured using the currency of the primary economic environment in which the entity operates (&amp;#x201c;functional currency&amp;#x201d;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The functional and presentation currency of the Company financial statements is the Brazilian Real.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Transactions and balances&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Foreign currency transactions are accounted for at exchange rates prevailing at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the balance sheet date rate. Non-monetary assets and liabilities denominated in foreign currencies are translated at the foreign exchange rate prevailing at the date of the transaction. Non-monetary assets and liabilities denominated in foreign currencies that are stated at fair value are translated at exchange rates ruling at the dates the fair value was determined. Gains and losses arising from the settlement of transactions in foreign currencies and resulting from the conversion of assets and liabilities denominated in foreign currencies are recognized in the income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The foreign exchange gains and losses related to loans and cash and cash equivalents are presented in the income statement as finance cost or finance income.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Conversion of the financial statements of subsidiaries located abroad&lt;/div&gt;&lt;/div&gt; &lt;!-- Field: Page; Sequence: 179; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Assets and liabilities of subsidiaries located abroad are translated at foreign exchange rates prevailing at the balance sheet date, while amounts from income statement and cash flows are translated at average exchange rates for the year and the changes in equity are translated at historical exchange rates of each transaction. The translation adjustments arising from the difference between the average exchange rates and the historical rates are recorded directly in Carrying value adjustments.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On consolidation, exchange differences arising from translation of equity in foreign operations and borrowings and other currency instruments designated as net investment hedges are recognized in Carrying value adjustments, an equity reserve, and included in Other comprehensive income.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Net investment in a foreign operation&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;An entity &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;have a monetary item that is receivable from or payable to a foreign operation which settlement is neither planned nor likely to occur in the foreseeable future and do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; include trade receivables or trade payables. Exchange differences arising shall be recognized initially in other comprehensive income and reclassified from equity to profit or loss on disposal of the net investment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Exchange rates&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The most significant exchange rates used in the preparation of the Company&amp;#x2019;s financial statements are as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Closing rate&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Average rate&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Currency&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Name&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;Country&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 12%; font-size: 10pt"&gt;CAD&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Canadian Dollars&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Canada and Cuba&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.6380&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.4214&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.8124&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.4567&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.6348&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.5661&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;DOP&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dominican Pesos&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dominican republic&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0685&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0700&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0860&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0674&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0755&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0725&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;USD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;US Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Ecuador &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;, Panam&amp;aacute; and Cuba&lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(ii)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.3080&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2591&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.9048&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2017&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.4749&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3.2596&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;GTQ&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Quetzal&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Guatemala&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4500&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4343&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.5129&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4344&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4570&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4265&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;PEN&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Novo Sol&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Peru &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.9720&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1440&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0269&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0396&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;ARS&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Argentinean Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Argentina&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1762&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.2056&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3003&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1931&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.2354&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3581&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;BOB&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Bolivian Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Bolivia&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4753&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4683&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.5610&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4600&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4993&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4683&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;PYG&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Guarani&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Paraguai&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0006&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0006&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0007&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0006&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0006&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0006&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;UYU&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Uruguayan Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Uruguay&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1151&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1114&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1304&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1116&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1166&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1197&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;CLP&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Chilean Peso&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Chile&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0054&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0049&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0055&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0049&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0051&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0050&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;COP&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Peso colombiano&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Col&amp;ocirc;mbia &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0011&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0011&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.0012&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;BBD&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Barbadian Dollar&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Barbados&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6307&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.6075&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.5783&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.7139&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;(i) Until &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2016, &lt;/div&gt;due to exchange of shareholdings&lt;div style="display: inline; font-weight: bold;"&gt;, &lt;/div&gt;according the Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; - &lt;div style="display: inline; font-style: italic;"&gt;Corporate information&lt;/div&gt;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;(ii) The functional currency of Cuba, the Cuban convertible peso (&amp;#x201c;CUC&amp;#x201d;), has a fixed parity with the dollar (&amp;#x201c;USD&amp;#x201d;) at balance sheet date.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 180; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(e)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Segment reporting&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Reportable segments are identified based on internal reports regularly reviewed by the chief operating decision maker of the Company for purposes of evaluating the performance of each segment and allocating resources to those segments. Accordingly, segment information is presented on geographical areas, since the risks and rates of return are affected predominantly by the fact that the Company operates in different regions. The Company&amp;#x2019;s management structure and the information reported to the chief decision are structured the same way.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The performance information by business units (Beer and Soft drink (&amp;#x201c;CSD&amp;#x201d;) and Non-alcoholic and non-carbonated (&amp;#x201c;NANC&amp;#x201d;)), is also used by the decision maker for the Company and is presented as additional information, even though it does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; qualify as a reportable segment. Internally, the Company&amp;#x2019;s management uses performance indicators, such as earnings of consolidated operation before interest and taxes (EBIT) and normalized earnings of consolidated operation before interest, taxes, depreciation and amortization (normalized EBITDA) as measures of segment performance to make decisions about resource allocation and performance analysis of consolidated operation. These indicators are reconciled to the profit of the segment in the tables on Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;&amp;#x2013; Segment reporting&lt;/div&gt;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company operates its business through &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; zones identified as reportable segments:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;#x25aa; Latin America North, which includes our operations (a) in Brazil and Luxembourg, where we operate &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;two&lt;/div&gt; business sub units: (i) beer and (ii) CSD and NANC; and (b) in Central America Operations (&amp;#x201c;CAC&amp;#x201d;), which includes our operations in the Dominican Republic (which also serves the islands of the Caribbean: Saint Vincent, Dominica, Antigua and Barbados), Guatemala (which also serves El Salvador and Nicaragua), Cuba and Panama;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;#x25aa; Latin America South, which includes our operations in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;#x25aa; Canada, represented by Labatt&amp;#x2019;s operations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(f)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Revenue recognition&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company recognizes revenue when the amount of revenue can be measured reliably and it is probable that economic benefits associated with the transaction will flow to the Company.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 181; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Revenue comprises the fair value of the amount received or receivable upon selling products or rendering services in the ordinary course of business. Revenue is presented net of taxes, returns, rebates and discounts, as well as net of elimination of sales between group companies.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Goods sold&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In relation to the sale of goods, revenue is recognized when the significant risks and rewards of ownership have been transferred to the buyer, and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; significant uncertainties remain regarding recovery of the consideration due, the costs associated with the possible return of the products, and when there is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; continuing management involvement with the goods. Revenue from the sale of goods is measured at the fair value of the consideration (price) received or receivable, net of returns, commercial deductions and discounts.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;As part of its commercial policy, the Company provides unconditional discounts to its customers, which are recorded as s deductions at the time of sales.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Finance income&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Finance income consists of interest received or receivable on funds invested, foreign exchange gains, gains on currency hedging instruments offsetting currency losses, gains on hedging instruments that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; part of a hedge accounting relationship, gains on financial assets classified as held for trading, as well as any gains from hedge ineffectiveness.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Interest income is recognized on an accrual basis unless collectability is in doubt.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(g)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Expenses&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Royalty expenses&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Royalties are classified as cost of goods sold.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Finance costs&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Finance costs comprise interest payable on borrowings, calculated using the effective interest rate method, foreign exchange losses, losses on currency hedging instruments offsetting currency gains, results on interest rate hedging instruments, losses on hedging instruments that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; part of a hedge accounting relationship, losses on financial assets classified as held for trading, impairment losses on financial assets classified as available for sale, as well as any losses from hedge ineffectiveness.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 182; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;All interest costs incurred in connection with borrowings or financial transactions are expensed as incurred as part of finance costs, except when capitalized. Any difference between the initial amount and the maturity amount of interest bearing loans and borrowings, such as transaction costs and fair value adjustments, are recognized in the income statement over the expected life of the instrument on an effective interest rate method. The interest expense component of finance lease payments is also recognized in the income statement using the effective interest rate method.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(h)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Exceptional items&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Exceptional items are those that in Management&amp;#x2019;s judgment need to be disclosed separately by virtue of their size or incidence. In determining whether an event or transaction is special, Management considers quantitative as well as qualitative factors such as the frequency or predictability of occurrence, and the potential of impact on the variation of profit or loss. These items are disclosed in the income statement or separately disclosed in the notes to the financial statements. Transactions that &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;give rise to exceptional items are principally restructuring activities, acquisition of subsidiaries, impairment losses, and gains or losses on disposal of assets and investments.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(i)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Income tax and social contribution&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Income tax and social contribution for the year comprises current tax and deferred tax. Income tax and social contribution are recognized in the income statement, unless they relate to items recognized directly in comprehensive income or other equity accounts. In these cases the tax effect is also recognized directly in comprehensive income or equity account (except interest on shareholder&amp;#x2019;s equity. See Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; (p)).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The current tax expense is the expectation of payment on the taxable income for the year, using tax rates enacted, or substantially enacted, at the balance sheet date, and any adjustment to tax payable in respect of previous years.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The deferred taxes are recognized using the balance sheet liability approach. This means that a deferred tax liability or asset is recognized for all taxable and tax deductible temporary differences between the tax and accounting basis of assets and liabilities. Under this method, a provision for deferred taxes is also calculated on the differences between the fair value of assets and liabilities acquired in a business combination and their tax basis. IAS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt; prescribes that &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; deferred tax liability on goodwill recognition, and &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; deferred tax asset/liability is recorded: (i) at the initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss; and (ii) on differences related to investments in subsidiaries to the extent that they are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; reversed in the foreseeable future. The amount of deferred tax provided is based on the expectation of the realization or settlement of the temporary difference, using currently or substantially enacted tax rates.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 183; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The deferred tax asset is recognized only to the extent that it is likely that future taxable profits will be available. The deferred income tax asset is reduced to the extent that it is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; longer probable that the future taxable benefit will occur.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(j)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Property, plant and equipment&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Property, plant and equipment are measured at cost less accumulated depreciation and impairment losses. The cost includes the purchase price, borrowing cost incurred during the construction period and any other costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management (e.g. nonrefundable tax, transport and the costs of dismantling and removal and site restoration, if applicable). The cost of a self-constructed asset is determined using the same principles as for an acquired asset. The depreciation methods, residual value, as well as the useful lives are reassessed and adjusted if appropriate, annually.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets are capitalized as part of the cost of such assets.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Land is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; depreciated since it is deemed to have an indefinite life.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Property, plant and equipment, and depreciation include the effects of the predecessor basis of accounting, according the Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt; - &lt;div style="display: inline; font-style: italic;"&gt;Corporate information&lt;/div&gt;.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Subsequent expenditures&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company recognizes in the carrying amount of an item of property, plant and equipment the cost of replacing a component of such an item if it is probable that the future economic benefits embodied with the item will flow to the Company and the cost of the item can be measured reliably. All other costs are expensed as incurred.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 184; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Depreciation&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The depreciable amount is the cost of an asset less its residual value. Residual values, if &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; insignificant, are reassessed annually. Depreciation is calculated from the date the asset is available for use, using the straight-line method over the estimated useful lives of the assets.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The estimated useful lives of major property, plant and equipment classes as follows:&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 70%; font-size: 10pt; text-align: left"&gt;Buildings (years)&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 20%; font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;25&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 5%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Plant and equipment (years)&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;15&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Fixtures (years)&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;10&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Fittings (years)&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;10&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;External use assets (years)&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: center"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt; - &lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The assets residual values and useful lives are reviewed at least annually. Management uses judgment to assess and ascertain the useful lives of these assets.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Gains and losses on sale&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Gains and losses on sales are determined by comparing the results with the carrying amount and are recognized in Other operating income/(expenses) in the income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(k)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Goodwill&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Goodwill arises on the acquisition of subsidiaries, associates and joint arrangements.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Goodwill is determined as the excess (i) of the consideration paid; (ii) of the amount of any non-controlling interests in the acquiree (when applicable); and (iii) of the fair value, at acquisition date, of any previous equity interest in the acquiree, over the fair value of the net identifiable assets acquired at the date of acquisition. All business combinations are accounted for by applying the purchase method.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In conformity with IFRS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; &lt;div style="display: inline; font-style: italic;"&gt;Business Combinations&lt;/div&gt;, goodwill is carried at cost and is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; amortized, but tested for impairment at least annually, or whenever there are indications that the cash generating unit to which the goodwill has been allocated &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be impaired. Impairment losses recognized on goodwill are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; reversed. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 185; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Goodwill is expressed in the functional currency of the subsidiary or joint operation to which it relates and translated to &lt;div style="display: inline; font-style: italic;"&gt;Reais&lt;/div&gt; using the year-end exchange rate.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Regarding associates and joint ventures, goodwill is included in the carrying amount of the investment in the associate/joint ventures.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;If the Company&amp;#x2019;s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognized exceeds the cost of the business combination such excess is recognized immediately in the income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Expenditure on internally generated goodwill is expensed as incurred.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Goodwill includes the effects of the predecessor basis of accounting (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; (c)).&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(l)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Intangible assets&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Brands&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When part of the consideration paid in a business combination is related to brands, these are recognized in a specific Intangible Assets account and measured at fair value at the acquisition date. Subsequently, the value of brands can be reduced in case of impairment losses. Internally generated expenditures for developing a brand are recognized as expenses.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Software&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Purchased software is measured at cost less accumulated amortization.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Amortization related to software is included in cost of sales, distribution and sales expenses, marketing expenses or administrative expenses based on the activity the software supports.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Other intangible assets&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Other intangible assets, acquired by the Company, are stated at acquisition cost less accumulated amortization and impairment losses.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Other intangible assets also include multi-year sponsorship rights acquired by the Company. These are initially recognized at the present value of the future payments and subsequently measured at cost less accumulated amortization and impairment losses.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 186; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Amortization&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Intangible assets with definite useful lives are amortized based on the straight-line method over their estimated useful lives. Licenses, supply and distribution rights are amortized over the period in which the rights exist. Brands are considered to have an indefinite life and, therefore, are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; amortized. Software and capitalized development cost related to technology are amortized over &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt; to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5&lt;/div&gt; years.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Items that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; amortized are tested for impairment on an annual basis.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(m)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Inventories&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Inventories are initially recorded at the acquisition cost and subsequent valued at the lower of cost and net realizable value. Cost includes expenditure incurred in acquiring the inventories and bringing them to their existing location and condition. The weighted average method is used in determining the cost of inventories.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The cost of finished products and work in progress comprises raw materials, other production materials, direct labor, other direct costs, gains and losses with derivative financial instruments, and an allocation of fixed and variable overhead based on normal operating capacity. Net realizable value is the estimated selling price in the ordinary course of business, less the cost for bringing inventories to sales conditions and selling costs.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Inventories have their amount reduced on a case-by-case basis if the anticipated net realizable value declines below its carrying amount. The calculation of the net realizable value takes into consideration specific characteristics of each inventory category, such as expiration date, remaining shelf life, slow-moving indicators, amongst others.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(n)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Trade receivables&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Accounts receivable are initially recognized at fair value and subsequently at amortized cost, less provision for losses on doubtful accounts. An allowance for impairment of trade receivables is established when there is objective evidence that the Company will &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; be able to collect all amounts due according to the original terms of the receivables. An allowance for impairment loss is recorded for an amount considered sufficient by management to cover probable losses upon the realization of receivables. The amount of the allowance is the difference between the asset&amp;#x2019;s carrying amount and the present value of the estimated future cash flows. The allowance for impairment loss is recognized in the income statement, as are subsequent recoveries of previous impairments. Historically, &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; significant losses in trade receivables have been experienced.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 187; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(o)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cash and cash equivalents&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Cash and cash equivalents include all cash balances, bank deposits, and short-term highly liquid investments with original maturities of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;three&lt;/div&gt; months or less with insignificant risks of changes in value, &lt;div style="display: inline; font-weight: normal"&gt;and &lt;/div&gt;readily convertible into cash. They are stated at face value, which approximates their fair value.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For the purpose of the cash flow statement, cash and cash equivalents are presented net of bank overdrafts, when applicable.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(p)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Equity&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Issued capital&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company's issued capital consists only of common shares.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Repurchase of shares&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When the Company buys back its own shares, the amount paid, including any additional costs directly attributable is recognized as a deduction from equity attributable to shareholders, in &amp;#x201c;Treasury shares&amp;#x201d; line item.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Share issuance costs&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Incremental costs directly attributable to the issuance of new shares or options are presented in equity as a deduction, net of tax, from the proceeds.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Dividends and Interest on shareholder&amp;#x2019;s equity&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Dividends and interest on shareholder&amp;#x2019;s equity are recognized in the liability on the date that are approved on Board of Directors Meeting, except the minimum statutory dividends provided by the Company&amp;#x2019;s bylaws, that are recognized as a liability when applicable, at the end of each fiscal year.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The expense of interest attributable to capital to shareholders is recognized in income for calculation of Brazilian income and social contribution tax and after are reclassified from shareholders' equity for presentation purposes in financial statements.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 188; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(q)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Interest-bearing loans and borrowings &lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Interest-bearing loans and borrowings are recognized initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing loans and borrowings are stated at amortized cost with any difference between the initial and maturity amount being recognized in the income statement over the expected life of the instrument on an effective interest rate basis. The Company has interest-bearing loans and borrowings covered by a hedge structure (Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;22&lt;/div&gt; &amp;#x2013; &lt;div style="display: inline; font-style: italic;"&gt;Interest-bearing loans and borrowings&lt;/div&gt;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Borrowing costs directly related to the acquisition, construction or production of a qualifying asset, that requires a substantial period of time to get ready for its intended use or sale, are capitalized as part of the cost of that asset when it is probable that future economic benefits associated with the item will flow to the Company and costs can be measured reliably. The other borrowing costs are recognized as finance costs in the period in which they are incurred.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(r)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Employee benefits&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Post-employment benefits&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Post-employment benefits include pensions managed in Brazil by Instituto Ambev de Previd&amp;ecirc;ncia Privada &amp;#x2013; IAPP, post-employment dental benefits and post-employment medical benefits managed by Funda&amp;ccedil;&amp;atilde;o Zerrenner. Usually, pension plans are funded by payments made by both the Company and its employees, taking into account the recommendations of independent actuaries. Post-employment dental benefits and post-employment medical benefits are maintained by the return on Funda&amp;ccedil;&amp;atilde;o Zerrenner&amp;#x2019;s plan assets. If necessary, the Company &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;contribute some of its profit to the Funda&amp;ccedil;&amp;atilde;o Zerrenner.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company manages defined benefit and defined contribution plans for employees of its companies located in Brazil and in its subsidiaries located in Dominican Republic, Panama, Uruguai, Bolivia and Canada.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company maintains funded and unfunded plans.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;r.1&lt;/div&gt;) Defined contribution plans&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;A defined contribution plan is a pension plan under which the Company pays fixed contributions into a fund. The Company has &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; legal or constructive obligations to pay further contributions if the fund does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; hold sufficient assets to pay all employees for the benefits relating to employee service in the current and prior periods.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 189; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The contributions of these plans are recognized as expense in the period they are incurred.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;r.2&lt;/div&gt;) Defined benefit plans&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; or more factors such as age, years of service and compensation.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;For defined benefit plans, expenses are assessed separately for each plan using the projected credit unit method. The projected credit unit method takes into account each period of service as giving rise to an additional unit of benefit to measure each unit separately. Under this method, the cost of providing pensions is charged to the income statement during the period of service of the employee. The amounts charged to the income statement consist of current service cost, interest cost, past service costs and the effect of any settlements and curtailments. The obligations of the plan recognized in the balance sheet are measured at the present value of the estimated future cash outflows using a discount rate equivalent to the government&amp;acute;s bond rates with maturity terms similar to those of the obligation and the fair value of the plan assets.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Past service costs result from the introduction of a new plan or changes to an existing plan. They are recognized immediately in the income statement, at the earlier of when: (i) the settlements / curtailments occurs, or (ii) the Company recognizes related restructuring or termination costs, unless those changes are conditioned to the employee&amp;#x2019;s continued employment, for a specific period of time (the period in which the right is acquired). In such case, the past services costs are amortized using the straight-line method during the period in which the right was acquired.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Actuarial gains and losses consist of the effects of differences between the previous actuarial assumptions and what has actually occurred, and the effects of changes in actuarial assumptions. Actuarial gains and losses are fully recognized in Carrying value adjustments.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Re-measurements, comprising of actuarial gains and losses, the effect of the asset ceiling and the return on plan assets, both excluding net interest, are recognized in full in the period in which they occur in the statement of comprehensive income. Re-measurements are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; reclassified to profit or loss in subsequent periods.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 190; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When the amount of the defined benefit obligation is negative (an asset), the Company recognizes those assets (prepaid expenses), to the extent of the value of the economic benefit available to the Company either from refunds or reductions in future contributions.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Other post-employment obligations&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company and its subsidiaries provide post-employment medical benefits, reimbursement of medication expenses and other benefits to certain retirees through Funda&amp;ccedil;&amp;atilde;o Zerrenner. These benefits are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; granted to new retirees. The expected costs of these benefits are recognized over the period of employment, using an accounting methodology similar to that for defined benefit plans, including actuarial gains and losses.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Termination benefits&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Termination benefits are recognized as an expense at the earlier of: (i) when the Company is demonstrably committed, without realistic possibility of withdrawal, to a formal detailed plan to terminate employment before the normal retirement date, and (ii) when the Company recognizes costs for a restructuring.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Bonuses&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Bonuses granted to employees and managers are based on pre-defined company and individual target achievement. The estimated amount of the bonus is recognized as an expense in the period the bonus is earned.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(s)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Share-based payments&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Different share and share option programs allow management and other members appointed by the Board of Directors to acquire shares of the Company. The fair value of the share options is estimated at grant date, using an option pricing model that is most appropriate for the respective option. Based on the expected number of options that will be exercised, the fair value of the options granted is recognized as an expense over the vesting period with a credit to equity. When the options are exercised, equity is increased by the amount of the proceeds received.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(t)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Trade payables&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Trade payables are recognized initially at fair value and subsequently at amortized cost using the effective interest method.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 191; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(u)&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Provisions&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Provisions are recognized when: (i) the Company has a present obligation (legal or constructive) as a result of past events; (ii) it is likely that a future disbursement will be required to settle the current obligation; and (iii) a reliable estimate of the amount of the obligation can be made.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Provisions, except for the mentioned on item disputes and litigation, are determined discounting the expected future cash flows, to a pre-tax rate, that reflects the current market assessments of the time value of money and, where appropriate, the risks specific to the liability. The increase accruals are recognized as finance expense.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Restructuring&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;A provision for restructuring is recognized when the Company has approved a detailed restructuring plan, and the restructuring has either commenced or has been announced. Costs relating to the ongoing and future activities of the Company are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; provided for, but recognized when expenses are incurred.. The provision includes the benefit commitments in connection with early retirement and redundancy schemes.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Disputes and Litigations&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;A provision for disputes and litigation is recognized when it is more likely than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; that the Company will be required to make future payments as a result of past events. Such items &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;include but are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; limited to, several claims, suits and actions filed by or against the Company relating to antitrusts laws, violations of distribution and license agreements, environmental matters, employment-related disputes, claims from tax authorities, and other litigation matters..&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(v)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Financial assets and liabilities&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Classification&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company classifies its financial assets and liabilities in the following categories: (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;) at fair value through profit or loss, (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;) loans and receivables, (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt;) held to maturity and (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4&lt;/div&gt;) available for sale. The classification depends on the purpose for which the financial instruments were acquired. Management determines the classification of its financial assets at initial recognition.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 192; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;) Financial assets and liabilities at fair value through profit or loss&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Financial assets and liabilities at fair value through profit or loss are financial instruments held for trading. A financial asset is classified in this category if acquired principally for the purpose of being sold in the short term. Derivatives are also categorized as held for trading unless they are designated as hedges.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In general, financial instruments of this category are classified as short-term investments securities, on current assets. Investments with maturities beyond &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; year &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be classified as short-term based on Management's intent and ability to withdraw them within less than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; year, as well as, considering their highly liquid nature and the fact that they represent cash available to fund current operations.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;) Loans and receivables&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Loans and receivables are non-derivative financial assets with fixed or determinable payments that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; quoted in an active market. They are included in current assets, except for maturities greater than &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt; months after the end of the reporting period (these are classified as non-current assets).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt;) Investments held to maturity&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Investments held to maturity are financial assets acquired with the intention and financial ability to hold them in the portfolio until maturity.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4&lt;/div&gt;) Available-for-sale financial assets&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Available-for-sale financial assets are non-derivative financial assets &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; classified in any other category. Available-for-sale financial assets are classified as non-current assets, unless Management intends to dispose of the investment within &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12&lt;/div&gt; months of the end of the reporting period.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Investments in debt and equity securities are classified in this category. Equity instruments are undertakings in which the Company does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; have significant influence or control.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Recognition and measurement&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Purchases and sales of financial assets and liabilities are recognized on the trade date - the date on which the Company undertakes to buy or sell the asset.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 193; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Financial assets and liabilities are realized when the rights to receive cash flows from investments have expired or have been transferred, in this case, when the Company has transferred substantially all risks and benefits of ownership.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1&lt;/div&gt;) Financial assets and liabilities at fair value through profit or loss&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Financial assets and liabilities at fair value through profit and loss are initially recognized at fair value and transaction costs are charged to the income statement. Subsequently, they are carried at fair value. Gains or losses arising from changes in the fair value of financial instruments at fair value through profit or loss are presented in the income statement in the period in which they arise.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2&lt;/div&gt;) Loans and receivables&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Loans and receivables are carried at amortized cost using the effective interest rate.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3&lt;/div&gt;) Investments held to maturity&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Investments held to maturity are initially recognized at fair value plus any directly attributable transaction costs. After initial recognition, investments held to maturity are measured at amortized cost using the effective interest method, reduced by any on loss impairment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4&lt;/div&gt;) Available-for-sale financial assets&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Available-for-sale financial assets are initially measured at fair value. Interest and inflation monetary adjustments are recognized in income. Subsequently, available-for-sale financial assets are measured at fair value, with changes in fair value recognized in other comprehensive income, and interests (measured using the effective interest rate method), recognized in income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When available-for-sale financial assets are settled or become impaired, the accumulated fair value adjustments recognized in other comprehensive income are included in the income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The fair values of investments with public quotations are based on current bid prices. If the market for a financial asset (and for unlisted securities on the stock exchange) is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; active, the Company establishes fair value by using valuation techniques. These techniques include the use of recent transactions with &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;third&lt;/div&gt; parties, reference to other instruments that are substantially similar, analysis of discounted cash flows and option pricing models making maximum use of information from the market and with the least possible information generated by the Company's management.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 194; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Impairment of financial assets&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Management assesses at the end of each reporting period whether there is objective evidence that a financial asset or group of financial assets is impaired. If any such indication exists, the asset&amp;#x2019;s recoverable amount is estimated. A financial asset or a group of financial assets is impaired and an impairment loss is recorded only if there is objective evidence of impairment as a result of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; or more events that occurred after the initial recognition of the asset (&amp;#x201c;loss event&amp;#x201d;) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Offsetting of financial instruments&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;Financial assets and liabilities are offset and the net amount presented in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(w)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Impairment of non-financial assets&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The carrying amounts of non-financial assets, such as property, plant and equipment, goodwill and intangible assets are reviewed, at least, at each reporting date to determine whether there is any indication of impairment. If any such indication exists, the asset&amp;#x2019;s recoverable amount is estimated.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Goodwill, intangible assets that are &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; yet available for use and intangibles with an indefinite useful life are tested for impairment at least annually at the business unit level (which is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;one&lt;/div&gt; level below the reportable segment) or whenever there is any indication of impairment.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;An impairment loss is recognized whenever the carrying amount of an asset or the related cash-generating unit exceeds its recoverable amount. Impairment losses are recognized in the income statement. Intangible assets with an indefinite useful life are tested on a fair value approach applying multiples that reflect current market transactions to indicators that drive the profitability of the asset or the royalty stream that could be obtained from licensing the intangible asset to another party in an arm&amp;#x2019;s length transaction.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 195; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The recoverable amount of other assets is determined as the higher of their fair value less costs to sell and value in use. For an asset that does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; generate largely independent cash inflows, the recoverable amount is determined for the cash-generating unit to which the asset belongs. The recoverable amount of the cash-generating units to which the goodwill and the intangible assets with indefinite useful life belong is based on a discounted free cash flow approach, using a discount rate that reflects current valuation models of the time value of money and the risks specific to the asset. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded subsidiaries or other available fair value indicators.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate before taxes that reflects current market assessments of the time value of money and the risks specific to the asset.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Non-financial assets, except by goodwill are reviewed for possible reversal of the impairment at the reporting date. Impairment losses are reversed only to the extent that the asset&amp;#x2019;s carrying amount does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; exceed the carrying amount that would have been determined, net of depreciation or amortization, if &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; impairment loss had been recognized.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;x&lt;/div&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Derivative financial instruments&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company uses derivative financial instruments in order to mitigate against risks related to foreign currency, interest rates and commodity prices. Derivative financial instruments that, although contracted for hedging purposes, do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; meet all hedge accounting criteria are recognized at fair value in the income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Derivative financial instruments are recognized initially at fair value. Fair value is the amount an asset could be realized and a liability settled, between knowledgeable parties, in an arm&amp;#x2019;s length transaction. The fair value of derivative financial instruments &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; may &lt;/div&gt;be obtained from quoted market prices or from pricing models that take into account current market rates, and also credit risk quality of the counterpart.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Subsequent to initial recognition, derivative financial instruments are re-measured to their fair value at the balance sheet date. Changes in fair value of derivative financial instruments are recognized in the income statement, except when they are designated as hedge instruments, when any effective portion of gain or loss is recognized directly in other comprehensive income.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Cash flow, net investment or fair value hedge accounting is applied to all hedges that qualify for hedge accounting under IAS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39,&lt;/div&gt; including the required hedge documentation and hedge effectiveness tests.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 196; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Cash flow hedge accounting&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When a derivative financial instrument hedges the variability in cash flows of a recognized asset or liability, the foreign currency risk and the fluctuation of commodity prices associated with a highly probable forecasted transaction, the effective portion of any resulting gain or loss on the derivative financial instrument is recognized directly in other comprehensive income (cash flow hedging reserve). The ineffective portion of any resulting gain or loss is recognized in the income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When a hedging instrument or hedge relationship is terminated but the hedged transaction is still expected to occur, the cumulative gain or loss (at that point) remains in other comprehensive income and is reclassified in accordance with the above policy when the hedged transaction occurs. If the hedged transaction is &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;no&lt;/div&gt; longer probable, the cumulative gain or loss recognized in other comprehensive income is recycled into the income statement immediately.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Fair value hedge accounting&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When a derivative financial instrument hedges the variability in fair value of a recognized asset or liability or a firm commitment, any resulting gain or loss on the hedging instrument is recognized in the income statement. The hedged item is also stated at fair value in respect of the risk being hedged, with any gain or loss being recognized in the income statement. The Company does &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; apply the fair value hedge accounting when the hedge item expires, was sold or exercised.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Net investment hedge accounting&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When a derivative financial instrument hedges the net investment in foreign operations, the effective part of any resulting gain or loss on the derivative financial instrument is recognized directly in other comprehensive income (translation reserve) , while any gains or losses relating to the ineffective portion are recognized in the income statement&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;On disposal of a foreign operation, the cumulative gains or losses recognized directly in other comprehensive income is transferred to the income statement.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Derivative financial instruments at fair value through profit or loss&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Certain derivative financial instruments do &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;not&lt;/div&gt; qualify for hedge accounting purposes. Changes in fair value of such derivatives financial instruments are immediately recognized in income statement.&lt;/div&gt; &lt;!-- Field: Page; Sequence: 197; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(y)&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Accounting for operating leases&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Leases of assets under which all the risks and rewards of ownership are substantially retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the income statement on a straight-line basis over the term of the lease.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;When an operating lease is terminated before the lease period has expired, any payment required to be made to the lessor by way of penalty is recognized as an expense in the period in which termination takes place.&lt;/div&gt; &lt;div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0"&gt;&lt;/td&gt; &lt;td style="width: 0.25in"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;(z)&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Government grants&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The Company has benefits from Brazilian state tax incentive programs to promote industrial development including the deferral of payment of taxes. These State programs are to promote long-term increases in employment, industrial decentralization, as well as complement and diversify the industrial states.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;In the case of these States, the tax terms are foreseen in tax law. When conditions to obtain these grants exist, they are under the Company's control. The benefits for the postponement in the payment of such taxes are recorded in the income statement, on an accrual basis.&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; background-color: white"&gt;The interest rates and (or) terms of these loans are advantageous over the market conditions, such financing are considered as subsidized loans as determined by IAS &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20.&lt;/div&gt; The referred subsidy consists of the gain earned when comparing the value of these operations in market to the value agreed in contract. Thereby, upon funding the subsidy calculated is recorded in Other operating income, following the treatment for the other ICMS subsidies. Management reviews annually the market conditions prevailing in the year to assess such subsidies.&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; background-color: white"&gt;Monthly, taking into account the value of the consideration, the period to maturity, the financing contract interest rate and the above mentioned discount rate, the reduction in present value adjustment is allocated to financial income, so as to bring the balance to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;zero&lt;/div&gt; by the time of settlement of each consideration.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory>
  <ifrs-full:DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-39">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Assets&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Net&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Assets&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Liabilities&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Net&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 34%; font-size: 10pt; text-align: left"&gt;Investment securities&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Intangible&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(719.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(719.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(733.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(733.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Employee benefits&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;631.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;631.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;467.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;467.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade payables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,382.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(314.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,068.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;977.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(531.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;446.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivable&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;52.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;52.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Derivatives&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;71.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(110.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(39.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Inventories&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;248.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(18.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;230.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;267.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(13.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;253.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Property, plant and equipment&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(920.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(920.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(905.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(905.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Withholding tax over undistributed profits and royalties&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(788.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(788.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(684.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(684.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Investments in associates&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(421.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(421.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(421.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(421.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Loss carryforwards&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;501.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;501.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,139.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,139.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Provisions&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;347.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(39.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;307.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;448.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(44.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;404.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Other items&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(30.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(30.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(15.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(24.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(39.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Gross deferred tax assets / (liabilities)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,208.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,258.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(49.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;3,409.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3,471.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(61.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Netting by taxable entity&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(929.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;929.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,141.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,141.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Net deferred tax assets / (liabilities)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,279.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,329.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(49.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2,268.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(2,329.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(61.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory>
  <ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822402">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;25.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;TRADE PAYABLES&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Trade payables&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;175.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;237.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Non-current&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;175.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;237.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade payables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,418.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;9,793.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Related Parties&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,435.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1,075.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Current&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,854.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;10,868.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Total&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,029.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;11,106.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory>
  <ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory contextRef="d_2017-01-01_2017-12-31" id="s822366">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 21.3pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td&gt;&lt;div style="display: inline; font-weight: bold;"&gt;TRADE RECEIVABLES&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 74%; font-size: 10pt; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,335.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,774.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Bad debt provision&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(521.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(443.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Net, trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,814.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,330.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Related parties&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;130.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;37.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Total current trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,944.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,368.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;The aging of our current trade receivables, net of impairment losses, is detailed as follows:&lt;/div&gt; &lt;!-- Field: Page; Sequence: 216; Value: 1 --&gt;   &lt;!-- Field: /Page --&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div&gt; &lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"&gt;  &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Net carrying amount as of December 31,&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;No past due&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Past due &amp;#x2013; until 30 days&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Past due &amp;#x2013; between 31 - 60 days&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Past due &amp;#x2013; between 61 - 90 days&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Past due &amp;#x2013; between 91 - 180 days&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Past due &amp;#x2013; between 181 - 360 days&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Past due 360 days&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5,335.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,343.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;340.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;63.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;85.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;427.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Bad debt provision&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(521.5&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(45.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(42.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(427.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,814.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,339.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;340.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;31.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;62.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;39.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Trade receivables&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,774.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,093.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;187.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;28.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;43.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;30.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;38.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;352.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Bad debt provision&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(443.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(30.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(38.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(352.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,330.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;4,086.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;186.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;24.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Impairment losses on trade receivables recognized in the income statement in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2017&lt;/div&gt; amount to &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$83.1&lt;/div&gt; (&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;R$82.1&lt;/div&gt; in &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2016&lt;/div&gt;).&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&amp;nbsp;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;Company&amp;#x2019;s exposure to credit risk, currency and interest rate risks is disclosed in Note &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;27&lt;/div&gt; -&lt;div style="display: inline; font-style: italic;"&gt;Financial instruments and risks&lt;/div&gt;.&lt;/div&gt;&lt;/div&gt;</ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory>
  <ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-88">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Current&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Trade receivables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Other Trade receivables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Trade payables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Other Trade payables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Borrowings and interest payable&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends payables&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 22%; font-size: 10pt; text-align: left"&gt;AB InBev&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.2&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;33.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(363.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;AB Procurement&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB Services&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;29.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB USA&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;14.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(375.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Ambrew&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(89.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cervecer&amp;iacute;a Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;91.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;5.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(589.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(59.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Inbev&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;23.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(33.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;ITW International&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(212.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(48.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(590.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Panam&amp;aacute; Holding&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(73.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;130.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;137.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,435.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(295.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(48.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(680.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Current&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Trade receivables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Other Trade receivables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Trade payables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;Other Trade payables &lt;div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;"&gt;(i)&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Borrowings and interest payable&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Dividends payables&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 22%; font-size: 10pt; text-align: left"&gt;AB InBev&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;6.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.4&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(308.9&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.7&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB Package&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(31.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB Services&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB USA&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;19.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;18.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(247.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Ambev Peru&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(4.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Ambrew&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(89.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Bogot&amp;aacute; Beer&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;211.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(211.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cervecer&amp;iacute;a Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(444.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Inbev&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;17.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(17.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(0.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;ITW International&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(209.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(30.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(590.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(15.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(54.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(6.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(14.4&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;37.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;284.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,075.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(495.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(30.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(680.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Company&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Buying / Service fees / Rentals&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Sales&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Royalties&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Net finance cost&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; text-align: left"&gt;AB Procurement&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(5.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;20.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB USA&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(258.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;42.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(284.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Ambev Peru&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(8.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cervecer&amp;iacute;a Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(749.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.4&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(45.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Inbev&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(73.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(91.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;8.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(35.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,186.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;73.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(366.2&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Company&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Buying / Service fees / Rentals&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Sales&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Royalties&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Net finance cost&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 48%; font-size: 10pt; text-align: left"&gt;AB Package&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(32.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB USA&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(206.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;52.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(292.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cervecer&amp;iacute;a Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(596.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(46.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;InBev&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(77.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;ITW International&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(26.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(63.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;SAB Group&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(3.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;23.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(45.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(32.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,023.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;78.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(371.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(26.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;Company&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Buying / Service fees / Rentals&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Sales&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; font-style: italic"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="3" style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;Royalties&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;AB Inbev&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(55.3&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(35.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;AB USA&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(124.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;49.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(288.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Cervecer&amp;iacute;a Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(257.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;1.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(52.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;InBev&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(73.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;Modelo&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(356.9&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;-&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Others&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(74.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(942.1&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;50.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(377.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory>
  <ifrs-full:DisclosureOfTreasurySharesExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-49">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Acquire /realization shares&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Result on Treasure Shares&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"&gt;Total Treasure Shares&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Thousands shares&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Thousands Brazilian Real&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Thousands shares&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"&gt;Thousands Brazilian Real&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 56%; font-size: 10pt; font-weight: bold"&gt;At December 31, 2015&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;32.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(617.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(386.1&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(1,003.5&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Changes during the year&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(16.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;304.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(209.9&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;94.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2016&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;16.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(312.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(596.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(908.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"&gt;Changes during the year&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(9.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;173.0&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(159.3&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;13.7&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;At December 31, 2017&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7.5&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(139.7&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(755.3&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;(895.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:DisclosureOfTreasurySharesExplanatory>
  <ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-BrandNamesMember" id="c28294498" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-DistributionContractsMember" id="c28294499" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-ComputerSoftwareMember" decimals="-5" id="c28294500" unitRef="iso4217-brl">-400000</ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-OtherIntangibleAssetsMember" decimals="-5" id="c28294501" unitRef="iso4217-brl">-300000</ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-5" id="c28294502" unitRef="iso4217-brl">-700000</ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-BrandNamesMember" id="c28294549" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-DistributionContractsMember" id="c28294550" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-ComputerSoftwareMember" decimals="-5" id="c28294551" unitRef="iso4217-brl">100000</ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfIntangibleAssetsAndGoodwillAxis-OtherIntangibleAssetsMember" id="c28294552" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-5" id="c28294553" unitRef="iso4217-brl">100000</ifrs-full:DisposalsIntangibleAssetsOtherThanGoodwill>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2017-01-01_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndBuildingsMember" decimals="-5" id="c28294142" unitRef="iso4217-brl">-25900000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2017-01-01_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-PlantAndEquipmentMember" decimals="-5" id="c28294143" unitRef="iso4217-brl">-555500000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2017-01-01_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-FixturesAndFittingsMember" decimals="-5" id="c28294144" unitRef="iso4217-brl">-125400000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2017-01-01_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" id="c28294145" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2017-01-01_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-5" id="c28294146" unitRef="iso4217-brl">-706800000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2017-01-01_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndBuildingsMember" decimals="-5" id="c28294183" unitRef="iso4217-brl">5300000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2017-01-01_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-PlantAndEquipmentMember" decimals="-5" id="c28294184" unitRef="iso4217-brl">539500000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2017-01-01_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-FixturesAndFittingsMember" decimals="-5" id="c28294185" unitRef="iso4217-brl">109500000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2017-01-01_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" id="c28294186" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2017-01-01_2017-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-5" id="c28294187" unitRef="iso4217-brl">654300000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndBuildingsMember" decimals="-5" id="c28294245" unitRef="iso4217-brl">-106000000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-PlantAndEquipmentMember" decimals="-5" id="c28294246" unitRef="iso4217-brl">-693100000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-FixturesAndFittingsMember" decimals="-5" id="c28294247" unitRef="iso4217-brl">-210300000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" decimals="-5" id="c28294248" unitRef="iso4217-brl">-3300000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember" decimals="-5" id="c28294249" unitRef="iso4217-brl">-1012700000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-LandAndBuildingsMember" decimals="-5" id="c28294286" unitRef="iso4217-brl">95300000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-PlantAndEquipmentMember" decimals="-5" id="c28294287" unitRef="iso4217-brl">646000000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-FixturesAndFittingsMember" decimals="-5" id="c28294288" unitRef="iso4217-brl">187500000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember_ClassesOfPropertyPlantAndEquipmentAxis-ConstructionInProgressMember" id="c28294289" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DisposalsPropertyPlantAndEquipment contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-AccumulatedDepreciationAmortisationAndImpairmentMember" decimals="-5" id="c28294290" unitRef="iso4217-brl">928800000</ifrs-full:DisposalsPropertyPlantAndEquipment>
  <ifrs-full:DistributionCosts contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28291631" unitRef="iso4217-brl">6295500000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28291632" unitRef="iso4217-brl">6085500000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28291633" unitRef="iso4217-brl">5833200000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentMember" decimals="-5" id="c28298902" unitRef="iso4217-brl">4193800000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentMember" decimals="-5" id="c28298903" unitRef="iso4217-brl">3965400000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentMember" decimals="-5" id="c28298904" unitRef="iso4217-brl">3709600000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-SouthLatinAmericaSegmentMember" decimals="-5" id="c28298905" unitRef="iso4217-brl">1007900000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-SouthLatinAmericaSegmentMember" decimals="-5" id="c28298906" unitRef="iso4217-brl">979600000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-SouthLatinAmericaSegmentMember" decimals="-5" id="c28298907" unitRef="iso4217-brl">1047500000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-CanadaSegmentMember" decimals="-5" id="c28298908" unitRef="iso4217-brl">1093800000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-CanadaSegmentMember" decimals="-5" id="c28298909" unitRef="iso4217-brl">1140500000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-CanadaSegmentMember" decimals="-5" id="c28298910" unitRef="iso4217-brl">1076100000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember" decimals="-5" id="c28299277" unitRef="iso4217-brl">538600000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember" decimals="-5" id="c28299278" unitRef="iso4217-brl">409900000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember" decimals="-5" id="c28299279" unitRef="iso4217-brl">357400000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilMember" decimals="-5" id="c28299280" unitRef="iso4217-brl">3655200000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilMember" decimals="-5" id="c28299281" unitRef="iso4217-brl">3555500000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilMember" decimals="-5" id="c28299282" unitRef="iso4217-brl">3352200000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilBeerOperationsMember" decimals="-5" id="c28299475" unitRef="iso4217-brl">2961000000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilBeerOperationsMember" decimals="-5" id="c28299476" unitRef="iso4217-brl">2891700000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilBeerOperationsMember" decimals="-5" id="c28299477" unitRef="iso4217-brl">2754000000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" decimals="-5" id="c28299478" unitRef="iso4217-brl">694200000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" decimals="-5" id="c28299479" unitRef="iso4217-brl">663800000</ifrs-full:DistributionCosts>
  <ifrs-full:DistributionCosts contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" decimals="-5" id="c28299480" unitRef="iso4217-brl">598200000</ifrs-full:DistributionCosts>
  <ifrs-full:DividendsPaid contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NetIncomeReservesInvestmentReserveMember" decimals="-5" id="c28294937" unitRef="iso4217-brl">3770100000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2017-12-28_2017-12-28" decimals="-5" id="c28300765" unitRef="iso4217-brl">4869700000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2016-02-29_2016-02-29" decimals="-5" id="c28300789" unitRef="iso4217-brl">2039200000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2016-12-29_2016-12-29" decimals="-5" id="c28300813" unitRef="iso4217-brl">3454200000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2015-03-31_2015-03-31_ComponentsOfEquityAxis-Dividends1Member" decimals="-5" id="c28305884" unitRef="iso4217-brl">471500000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2015-03-31_2015-03-31_ComponentsOfEquityAxis-Dividends2Member" decimals="-5" id="c28305892" unitRef="iso4217-brl">943000000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2015-06-29_2015-06-29" decimals="-5" id="c28305900" unitRef="iso4217-brl">1570600000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2015-12-30_2015-12-30" decimals="-5" id="c28305916" unitRef="iso4217-brl">2352700000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c28291970" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsPaid contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-CapitalReserveMember" id="c28291971" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsPaid contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NetIncomeReservesMember" id="c28291972" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsPaid contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-5" id="c28291973" unitRef="iso4217-brl">3612800000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-CarryingValueAdjustmentsMember" id="c28291974" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsPaid contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-5" id="c28291975" unitRef="iso4217-brl">3612800000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-5" id="c28291976" unitRef="iso4217-brl">431200000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28291977" unitRef="iso4217-brl">4044000000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c28292115" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsPaid contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-CapitalReserveMember" id="c28292116" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsPaid contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-NetIncomeReservesMember" id="c28292117" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsPaid contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-5" id="c28292118" unitRef="iso4217-brl">5651800000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-CarryingValueAdjustmentsMember" id="c28292119" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsPaid contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-5" id="c28292120" unitRef="iso4217-brl">5651800000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-5" id="c28292121" unitRef="iso4217-brl">355500000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28292122" unitRef="iso4217-brl">6007300000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c28292260" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsPaid contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-CapitalReserveMember" id="c28292261" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsPaid contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-NetIncomeReservesMember" id="c28292262" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsPaid contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-5" id="c28292263" unitRef="iso4217-brl">2352400000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-CarryingValueAdjustmentsMember" id="c28292264" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsPaid contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-5" id="c28292265" unitRef="iso4217-brl">2352400000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" decimals="-5" id="c28292266" unitRef="iso4217-brl">260400000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaid contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28292267" unitRef="iso4217-brl">2612800000</ifrs-full:DividendsPaid>
  <ifrs-full:DividendsPaidOrdinaryShares contextRef="d_2017-07-17_2017-07-17" decimals="-5" id="c28300757" unitRef="iso4217-brl">2513100000</ifrs-full:DividendsPaidOrdinaryShares>
  <ifrs-full:DividendsPaidOrdinaryShares contextRef="d_2018-02-22_2018-02-22_NonadjustingEventsAfterReportingPeriodAxis-PotentialOrdinaryShareTransactionsMember" decimals="-5" id="c28300773" unitRef="iso4217-brl">1099700000</ifrs-full:DividendsPaidOrdinaryShares>
  <ifrs-full:DividendsPaidOrdinaryShares contextRef="d_2016-07-29_2016-07-29" decimals="-5" id="c28300797" unitRef="iso4217-brl">2040800000</ifrs-full:DividendsPaidOrdinaryShares>
  <ifrs-full:DividendsPaidOrdinaryShares contextRef="d_2016-11-25_2016-11-25" decimals="-5" id="c28300805" unitRef="iso4217-brl">2511900000</ifrs-full:DividendsPaidOrdinaryShares>
  <ifrs-full:DividendsPaidOrdinaryShares contextRef="d_2017-02-23_2017-02-23" decimals="-5" id="c28300821" unitRef="iso4217-brl">1099100000</ifrs-full:DividendsPaidOrdinaryShares>
  <ifrs-full:DividendsPaidOrdinaryShares contextRef="d_2015-09-28_2015-09-28" decimals="-5" id="c28305908" unitRef="iso4217-brl">2352400000</ifrs-full:DividendsPaidOrdinaryShares>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare contextRef="d_2017-07-17_2017-07-17" decimals="INF" id="c28300756" unitRef="iso4217-brl-per-xbrli-shares">0.16</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare contextRef="d_2018-02-22_2018-02-22_NonadjustingEventsAfterReportingPeriodAxis-PotentialOrdinaryShareTransactionsMember" decimals="INF" id="c28300772" unitRef="iso4217-brl-per-xbrli-shares">0.07</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare contextRef="d_2016-07-29_2016-07-29" decimals="INF" id="c28300796" unitRef="iso4217-brl-per-xbrli-shares">0.13</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare contextRef="d_2016-11-25_2016-11-25" decimals="INF" id="c28300804" unitRef="iso4217-brl-per-xbrli-shares">0.16</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare contextRef="d_2017-02-23_2017-02-23" decimals="INF" id="c28300820" unitRef="iso4217-brl-per-xbrli-shares">0.07</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <ifrs-full:DividendsPaidOrdinarySharesPerShare contextRef="d_2015-09-28_2015-09-28" decimals="INF" id="c28305907" unitRef="iso4217-brl-per-xbrli-shares">0.15</ifrs-full:DividendsPaidOrdinarySharesPerShare>
  <ifrs-full:DividendsReceivedClassifiedAsOperatingActivities contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28292417" unitRef="iso4217-brl">7300000</ifrs-full:DividendsReceivedClassifiedAsOperatingActivities>
  <ifrs-full:DividendsReceivedClassifiedAsOperatingActivities contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28292418" unitRef="iso4217-brl">111000000</ifrs-full:DividendsReceivedClassifiedAsOperatingActivities>
  <ifrs-full:DividendsReceivedClassifiedAsOperatingActivities contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28292419" unitRef="iso4217-brl">14800000</ifrs-full:DividendsReceivedClassifiedAsOperatingActivities>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c28292002" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-CapitalReserveMember" id="c28292003" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NetIncomeReservesMember" id="c28292004" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-5" id="c28292005" unitRef="iso4217-brl">34700000</ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-CarryingValueAdjustmentsMember" id="c28292006" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-5" id="c28292007" unitRef="iso4217-brl">34700000</ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2017-01-01_2017-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" id="c28292008" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28292009" unitRef="iso4217-brl">34700000</ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c28292147" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-CapitalReserveMember" id="c28292148" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-NetIncomeReservesMember" id="c28292149" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-5" id="c28292150" unitRef="iso4217-brl">21600000</ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-CarryingValueAdjustmentsMember" id="c28292151" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-5" id="c28292152" unitRef="iso4217-brl">21600000</ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2016-01-01_2016-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" id="c28292153" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28292154" unitRef="iso4217-brl">21600000</ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-IssuedCapitalMember" id="c28292292" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-CapitalReserveMember" id="c28292293" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-NetIncomeReservesMember" id="c28292294" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-RetainedEarningsMember" decimals="-5" id="c28292295" unitRef="iso4217-brl">16200000</ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-CarryingValueAdjustmentsMember" id="c28292296" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-EquityAttributableToOwnersOfParentMember" decimals="-5" id="c28292297" unitRef="iso4217-brl">16200000</ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2015-01-01_2015-12-31_ComponentsOfEquityAxis-NoncontrollingInterestsMember" id="c28292298" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28292299" unitRef="iso4217-brl">16200000</ifrs-full:DividendsRecognisedAsDistributionsToOwnersOfParent>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare contextRef="d_2017-12-28_2017-12-28" decimals="INF" id="c28300764" unitRef="iso4217-brl-per-xbrli-shares">0.31</ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare contextRef="d_2016-02-29_2016-02-29" decimals="INF" id="c28300788" unitRef="iso4217-brl-per-xbrli-shares">0.13</ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare contextRef="d_2016-12-29_2016-12-29" decimals="INF" id="c28300812" unitRef="iso4217-brl-per-xbrli-shares">0.22</ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare contextRef="d_2015-03-31_2015-03-31_ComponentsOfEquityAxis-Dividends1Member" decimals="INF" id="c28305883" unitRef="iso4217-brl-per-xbrli-shares">0.03</ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare contextRef="d_2015-03-31_2015-03-31_ComponentsOfEquityAxis-Dividends2Member" decimals="INF" id="c28305891" unitRef="iso4217-brl-per-xbrli-shares">0.06</ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare contextRef="d_2015-06-29_2015-06-29" decimals="INF" id="c28305899" unitRef="iso4217-brl-per-xbrli-shares">0.10</ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare>
  <ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare contextRef="d_2015-12-30_2015-12-30" decimals="INF" id="c28305915" unitRef="iso4217-brl-per-xbrli-shares">0.15</ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare>
  <ifrs-full:EarningsPerShareExplanatory contextRef="d_2017-01-01_2017-12-31" id="c-54">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2017&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2016&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;2015&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Common&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Common&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;Common&lt;/td&gt; &lt;td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 61%; font-size: 10pt; text-align: left"&gt;Income attributable to equity holders of Ambev&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,332.0&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,546.6&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,423.8&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Weighted average number of shares (non diluted)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,705.8&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,696.6&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,696.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Basic EPS (i)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.47&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.80&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.79&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;Income attributable to equity holders of Ambev&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;7,332.0&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,546.6&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;12,423.8&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;Weighted average numbers of shares (diluted)&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,838.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,823.2&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;15,820.1&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;Diluted EPS (i)&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.46&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.79&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;0.79&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:EarningsPerShareExplanatory>
  <ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28292501" unitRef="iso4217-brl">539000000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
  <ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28292502" unitRef="iso4217-brl">-542200000</ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents>
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  <ifrs-full:IncreaseDecreaseThroughOtherChangesIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-ComputerSoftwareMember" id="c28294525" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:IncreaseDecreaseThroughOtherChangesIntangibleAssetsOtherThanGoodwill contextRef="d_2016-01-01_2016-12-31_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-GrossCarryingAmountMember_ClassesOfIntangibleAssetsAndGoodwillAxis-OtherIntangibleAssetsMember" decimals="-5" id="c28294526" unitRef="iso4217-brl">172300000</ifrs-full:IncreaseDecreaseThroughOtherChangesIntangibleAssetsOtherThanGoodwill>
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  <ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28292291" unitRef="iso4217-brl">189900000</ifrs-full:IncreaseDecreaseThroughSharebasedPaymentTransactions>
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  <ifrs-full:Revenue contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" decimals="-5" id="c28299451" unitRef="iso4217-brl">3843700000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" decimals="-5" id="c28299452" unitRef="iso4217-brl">3781500000</ifrs-full:Revenue>
  <ifrs-full:Revenue contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" decimals="-5" id="c28299453" unitRef="iso4217-brl">3884800000</ifrs-full:Revenue>
  <ifrs-full:RevenueFromGovernmentGrants contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28293827" unitRef="iso4217-brl">993700000</ifrs-full:RevenueFromGovernmentGrants>
  <ifrs-full:RevenueFromGovernmentGrants contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28293828" unitRef="iso4217-brl">1166500000</ifrs-full:RevenueFromGovernmentGrants>
  <ifrs-full:RevenueFromGovernmentGrants contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28293829" unitRef="iso4217-brl">1755700000</ifrs-full:RevenueFromGovernmentGrants>
  <ifrs-full:RevenueFromInterest contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28294001" unitRef="iso4217-brl">458800000</ifrs-full:RevenueFromInterest>
  <ifrs-full:RevenueFromInterest contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28294002" unitRef="iso4217-brl">513600000</ifrs-full:RevenueFromInterest>
  <ifrs-full:RevenueFromInterest contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28294003" unitRef="iso4217-brl">575500000</ifrs-full:RevenueFromInterest>
  <ifrs-full:RevenueFromSaleOfGoods contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28293813" unitRef="iso4217-brl">72411000000</ifrs-full:RevenueFromSaleOfGoods>
  <ifrs-full:RevenueFromSaleOfGoods contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28293814" unitRef="iso4217-brl">79551100000</ifrs-full:RevenueFromSaleOfGoods>
  <ifrs-full:RevenueFromSaleOfGoods contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28293815" unitRef="iso4217-brl">97214200000</ifrs-full:RevenueFromSaleOfGoods>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-AnheuserBuschProcurementMember" decimals="-5" id="c28306025" unitRef="iso4217-brl">20800000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-AnheuserBuschInbevUsaLlcMember" decimals="-5" id="c28306031" unitRef="iso4217-brl">42500000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-CompaiaCerveceraAmbevPeruSacMember" decimals="-5" id="c28306037" unitRef="iso4217-brl">1500000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-CerveceriaModeloDeMexicoSDeRlDeCvMember" decimals="-5" id="c28306043" unitRef="iso4217-brl">400000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-InbevBelgiumNvMember" id="c28306049" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-5" id="c28306055" unitRef="iso4217-brl">8100000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28306061" unitRef="iso4217-brl">73300000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2016-01-01_2016-12-31_CategoriesOfRelatedPartiesAxis-AnheuserBuschPackagingGroupIncMember" id="c28305971" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2016-01-01_2016-12-31_CategoriesOfRelatedPartiesAxis-AnheuserBuschInbevUsaLlcMember" decimals="-5" id="c28305977" unitRef="iso4217-brl">52300000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2016-01-01_2016-12-31_CategoriesOfRelatedPartiesAxis-CerveceriaModeloDeMexicoSDeRlDeCvMember" decimals="-5" id="c28305983" unitRef="iso4217-brl">2000000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2016-01-01_2016-12-31_CategoriesOfRelatedPartiesAxis-InbevBelgiumNvMember" id="c28305989" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2016-01-01_2016-12-31_CategoriesOfRelatedPartiesAxis-InterbrewInternationalBvMember" id="c28305995" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2016-01-01_2016-12-31_CategoriesOfRelatedPartiesAxis-CerveceiraModeloDeGuadalajaraSaMember" id="c28306001" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2016-01-01_2016-12-31_CategoriesOfRelatedPartiesAxis-BavariaSaMember" decimals="-5" id="c28306007" unitRef="iso4217-brl">23500000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2016-01-01_2016-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-5" id="c28306013" unitRef="iso4217-brl">300000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28306019" unitRef="iso4217-brl">78100000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2015-01-01_2015-12-31_CategoriesOfRelatedPartiesAxis-AnheuserBuschInBevNvMember" id="c28305929" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2015-01-01_2015-12-31_CategoriesOfRelatedPartiesAxis-AnheuserBuschInbevUsaLlcMember" decimals="-5" id="c28305935" unitRef="iso4217-brl">49000000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2015-01-01_2015-12-31_CategoriesOfRelatedPartiesAxis-CerveceriaModeloDeMexicoSDeRlDeCvMember" decimals="-5" id="c28305941" unitRef="iso4217-brl">1100000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2015-01-01_2015-12-31_CategoriesOfRelatedPartiesAxis-InbevBelgiumNvMember" decimals="-5" id="c28305947" unitRef="iso4217-brl">100000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2015-01-01_2015-12-31_CategoriesOfRelatedPartiesAxis-CerveceiraModeloDeGuadalajaraSaMember" id="c28305953" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2015-01-01_2015-12-31_CategoriesOfRelatedPartiesAxis-OtherRelatedPartiesMember" decimals="-5" id="c28305959" unitRef="iso4217-brl">600000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28305965" unitRef="iso4217-brl">50800000</ifrs-full:RevenueFromSaleOfGoodsRelatedPartyTransactions>
  <ifrs-full:RiskExposureAssociatedWithInstrumentsSharingCharacteristic contextRef="i_2017-12-31_TypesOfRisksAxis-EquityPriceRiskMember" decimals="-5" id="c28296224" unitRef="iso4217-brl">2300000000</ifrs-full:RiskExposureAssociatedWithInstrumentsSharingCharacteristic>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28291635" unitRef="iso4217-brl">5620000000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28291636" unitRef="iso4217-brl">5925000000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28291637" unitRef="iso4217-brl">5344700000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentMember" decimals="-5" id="c28298914" unitRef="iso4217-brl">3655500000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentMember" decimals="-5" id="c28298915" unitRef="iso4217-brl">3671100000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentMember" decimals="-5" id="c28298916" unitRef="iso4217-brl">3264000000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-SouthLatinAmericaSegmentMember" decimals="-5" id="c28298917" unitRef="iso4217-brl">1091300000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-SouthLatinAmericaSegmentMember" decimals="-5" id="c28298918" unitRef="iso4217-brl">1317600000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-SouthLatinAmericaSegmentMember" decimals="-5" id="c28298919" unitRef="iso4217-brl">1294800000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-CanadaSegmentMember" decimals="-5" id="c28298920" unitRef="iso4217-brl">873200000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-CanadaSegmentMember" decimals="-5" id="c28298921" unitRef="iso4217-brl">936300000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-CanadaSegmentMember" decimals="-5" id="c28298922" unitRef="iso4217-brl">785900000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember" decimals="-5" id="c28299286" unitRef="iso4217-brl">526400000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember" decimals="-5" id="c28299287" unitRef="iso4217-brl">456700000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember" decimals="-5" id="c28299288" unitRef="iso4217-brl">390100000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilMember" decimals="-5" id="c28299289" unitRef="iso4217-brl">3129100000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilMember" decimals="-5" id="c28299290" unitRef="iso4217-brl">3214400000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilMember" decimals="-5" id="c28299291" unitRef="iso4217-brl">2873900000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilBeerOperationsMember" decimals="-5" id="c28299484" unitRef="iso4217-brl">2953600000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilBeerOperationsMember" decimals="-5" id="c28299485" unitRef="iso4217-brl">3044000000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilBeerOperationsMember" decimals="-5" id="c28299486" unitRef="iso4217-brl">2691300000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" decimals="-5" id="c28299487" unitRef="iso4217-brl">175500000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" decimals="-5" id="c28299488" unitRef="iso4217-brl">170400000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SalesAndMarketingExpense contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" decimals="-5" id="c28299489" unitRef="iso4217-brl">182600000</ifrs-full:SalesAndMarketingExpense>
  <ifrs-full:SensitivityAnalysisForEachTypeOfMarketRisk contextRef="d_2017-01-01_2017-12-31" id="c-77">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"&gt; &lt;tr style="text-align: right; vertical-align: bottom"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; vertical-align: bottom"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Transaction&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: left; vertical-align: bottom"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Risk&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Fair value&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Probable scenario&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Adverse scenario&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Remote&lt;br /&gt; scenario&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td colspan="2" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="width: 12%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Commodities hedge&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="width: 12%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Decrease on commodities price&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;95.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(70.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 10%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(392.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 9%; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(881.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="width: 1%; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Input purchase&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(95.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;108.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;498.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,093.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign exchange hedge&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign currency decrease&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(105.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1,843.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3,684.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Input purchase&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;105.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,843.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3,684.0&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;Costs effects&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;38.1&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;105.9&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;211.8&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign exchange hedge&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign currency decrease&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(8.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(16.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(153.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(298.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Capex Purchase&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;8.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;16.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;153.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;298.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Fixed assets effects&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign exchange hedge&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign currency decrease&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(1.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(45.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(90.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Expenses&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;45.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;90.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Expenses effects&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Hedge cambial&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign currency increase&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(13.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(37.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(341.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(669.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cash&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;13.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;37.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;341.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;669.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest Hedge&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Decrease in interest rate&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(0.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(2.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(3.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest revenue&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;0.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;2.9&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;3.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cash effects&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Hedge cambial&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Foreign currency decrease&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Cash&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;9.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;140.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;281.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest Hedge&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Increase in interest rate&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;28.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;18.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(131.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(162.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Interest expenses&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(28.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(18.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;131.5&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;162.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Debt effects&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;9.7&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;140.6&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;281.3&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Equity Instrument Hedge&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Stock Exchange Price Decrease&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;69.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;54.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(100.1&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(269.3&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Expenses&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; text-align: right"&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(69.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;(19.4&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;)&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;517.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,104.8&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;Equity effects&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; padding-bottom: 1pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;34.9&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;417.7&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; border-bottom: Black 1pt solid"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;835.5&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td nowrap="nowrap" style="font-size: 10pt"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;-&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;82.7&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;664.2&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: right"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;1,328.6&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="font-size: 10pt; font-weight: bold; text-align: left"&gt;&lt;div style="display: inline; font-size: 10pt"&gt;&amp;nbsp;&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt;&lt;/div&gt;</ifrs-full:SensitivityAnalysisForEachTypeOfMarketRisk>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28291667" unitRef="iso4217-brl">-3100000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28291668" unitRef="iso4217-brl">-5000000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28291669" unitRef="iso4217-brl">3100000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentMember" decimals="-5" id="c28298986" unitRef="iso4217-brl">-4700000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentMember" decimals="-5" id="c28298987" unitRef="iso4217-brl">-6800000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentMember" decimals="-5" id="c28298988" unitRef="iso4217-brl">1900000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-SouthLatinAmericaSegmentMember" id="c28298989" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-SouthLatinAmericaSegmentMember" id="c28298990" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-SouthLatinAmericaSegmentMember" id="c28298991" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-CanadaSegmentMember" decimals="-5" id="c28298992" unitRef="iso4217-brl">1600000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-CanadaSegmentMember" decimals="-5" id="c28298993" unitRef="iso4217-brl">1800000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-CanadaSegmentMember" decimals="-5" id="c28298994" unitRef="iso4217-brl">1200000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember" decimals="-5" id="c28299340" unitRef="iso4217-brl">6000000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember" decimals="-5" id="c28299341" unitRef="iso4217-brl">19000000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember" id="c28299342" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilMember" decimals="-5" id="c28299343" unitRef="iso4217-brl">-10700000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilMember" decimals="-5" id="c28299344" unitRef="iso4217-brl">-25800000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilMember" decimals="-5" id="c28299345" unitRef="iso4217-brl">1900000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilBeerOperationsMember" decimals="-5" id="c28299538" unitRef="iso4217-brl">-10700000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilBeerOperationsMember" decimals="-5" id="c28299539" unitRef="iso4217-brl">-25800000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilBeerOperationsMember" decimals="-5" id="c28299540" unitRef="iso4217-brl">1900000</ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2017-01-01_2017-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" id="c28299541" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2016-01-01_2016-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" id="c28299542" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod contextRef="d_2015-01-01_2015-12-31_SegmentsAxis-NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" id="c28299543" unitRef="iso4217-brl" xs:nil="true"/>
  <ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents contextRef="i_2017-12-31" decimals="-5" id="c28294897" unitRef="iso4217-brl">4688500000</ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents>
  <ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents contextRef="i_2016-12-31" decimals="-5" id="c28294898" unitRef="iso4217-brl">4027600000</ifrs-full:ShorttermDepositsClassifiedAsCashEquivalents>
  <ifrs-full:ShorttermEmployeeBenefitsAccruals contextRef="i_2017-12-31" decimals="-5" id="c28291865" unitRef="iso4217-brl">1047200000</ifrs-full:ShorttermEmployeeBenefitsAccruals>
  <ifrs-full:ShorttermEmployeeBenefitsAccruals contextRef="i_2016-12-31" decimals="-5" id="c28291866" unitRef="iso4217-brl">686600000</ifrs-full:ShorttermEmployeeBenefitsAccruals>
  <ifrs-full:SocialSecurityContributions contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28293872" unitRef="iso4217-brl">741100000</ifrs-full:SocialSecurityContributions>
  <ifrs-full:SocialSecurityContributions contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28293873" unitRef="iso4217-brl">727200000</ifrs-full:SocialSecurityContributions>
  <ifrs-full:SocialSecurityContributions contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28293874" unitRef="iso4217-brl">756100000</ifrs-full:SocialSecurityContributions>
  <ifrs-full:SpareParts contextRef="i_2017-12-31" decimals="-5" id="c28294823" unitRef="iso4217-brl">476900000</ifrs-full:SpareParts>
  <ifrs-full:SpareParts contextRef="i_2016-12-31" decimals="-5" id="c28294824" unitRef="iso4217-brl">447200000</ifrs-full:SpareParts>
  <ifrs-full:StatementOfIFRSCompliance contextRef="d_2017-01-01_2017-12-31" id="s822317">&lt;div style="display: inline; font-family: times new roman; font-size: 10pt"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"&gt;  &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 14.2pt"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt;2.&lt;/div&gt;&lt;/div&gt;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;STATEMENT OF COMPLIANCE&lt;/div&gt;&lt;/td&gt; &lt;/tr&gt;  &lt;/table&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;&lt;div style="display: inline; font-weight: bold;"&gt;&amp;nbsp;&lt;/div&gt;&lt;/div&gt; &lt;div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"&gt;The consolidated financial statements have been prepared using the accounting basis of going concern and are being presented in accordance with International Financial Reporting Standards (&amp;#x201c;IFRS&amp;#x201d;) as issued by the International Accounting Standards Board (&amp;#x201c;IASB&amp;#x201d;) that were effective as of &lt;div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"&gt; December 31, 2017.&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</ifrs-full:StatementOfIFRSCompliance>
  <ifrs-full:SurplusDeficitInPlan contextRef="i_2017-12-31" decimals="-5" id="c28295623" unitRef="iso4217-brl">-1021500000</ifrs-full:SurplusDeficitInPlan>
  <ifrs-full:SurplusDeficitInPlan contextRef="i_2016-12-31" decimals="-5" id="c28295624" unitRef="iso4217-brl">-746900000</ifrs-full:SurplusDeficitInPlan>
  <ifrs-full:SurplusDeficitInPlan contextRef="i_2015-12-31" decimals="-5" id="c28295625" unitRef="iso4217-brl">-865000000</ifrs-full:SurplusDeficitInPlan>
  <ifrs-full:TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28294072" unitRef="iso4217-brl">-91100000</ifrs-full:TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss>
  <ifrs-full:TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28294073" unitRef="iso4217-brl">-539300000</ifrs-full:TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss>
  <ifrs-full:TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28294074" unitRef="iso4217-brl">-415900000</ifrs-full:TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss>
  <ifrs-full:TaxEffectOfForeignTaxRates contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28294075" unitRef="iso4217-brl">-560400000</ifrs-full:TaxEffectOfForeignTaxRates>
  <ifrs-full:TaxEffectOfForeignTaxRates contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28294076" unitRef="iso4217-brl">-148000000</ifrs-full:TaxEffectOfForeignTaxRates>
  <ifrs-full:TaxEffectOfForeignTaxRates contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28294077" unitRef="iso4217-brl">-1965200000</ifrs-full:TaxEffectOfForeignTaxRates>
  <ifrs-full:TaxEffectOfImpairmentOfGoodwill contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28294097" unitRef="iso4217-brl">175200000</ifrs-full:TaxEffectOfImpairmentOfGoodwill>
  <ifrs-full:TaxEffectOfImpairmentOfGoodwill contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28294098" unitRef="iso4217-brl">142000000</ifrs-full:TaxEffectOfImpairmentOfGoodwill>
  <ifrs-full:TaxEffectOfImpairmentOfGoodwill contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28294099" unitRef="iso4217-brl">142400000</ifrs-full:TaxEffectOfImpairmentOfGoodwill>
  <ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011 contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28294063" unitRef="iso4217-brl">-310900000</ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011>
  <ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011 contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28294064" unitRef="iso4217-brl">-392000000</ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011>
  <ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011 contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28294065" unitRef="iso4217-brl">-999900000</ifrs-full:TaxEffectOfRevenuesExemptFromTaxation2011>
  <ifrs-full:TaxEffectOfTaxLosses contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28294103" unitRef="iso4217-brl">-178900000</ifrs-full:TaxEffectOfTaxLosses>
  <ifrs-full:TaxEffectOfTaxLosses contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28294104" unitRef="iso4217-brl">796700000</ifrs-full:TaxEffectOfTaxLosses>
  <ifrs-full:TaxEffectOfTaxLosses contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28294105" unitRef="iso4217-brl">138100000</ifrs-full:TaxEffectOfTaxLosses>
  <ifrs-full:TaxExpenseIncomeAtApplicableTaxRate contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28293968" unitRef="iso4217-brl">179700000</ifrs-full:TaxExpenseIncomeAtApplicableTaxRate>
  <ifrs-full:TaxExpenseIncomeAtApplicableTaxRate contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28293969" unitRef="iso4217-brl">224600000</ifrs-full:TaxExpenseIncomeAtApplicableTaxRate>
  <ifrs-full:TaxExpenseIncomeAtApplicableTaxRate contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28293970" unitRef="iso4217-brl">146400000</ifrs-full:TaxExpenseIncomeAtApplicableTaxRate>
  <ifrs-full:TaxExpenseOtherThanIncomeTaxExpense contextRef="d_2017-01-01_2017-12-31" decimals="-5" id="c28293816" unitRef="iso4217-brl">16192900000</ifrs-full:TaxExpenseOtherThanIncomeTaxExpense>
  <ifrs-full:TaxExpenseOtherThanIncomeTaxExpense contextRef="d_2016-01-01_2016-12-31" decimals="-5" id="c28293817" unitRef="iso4217-brl">16345200000</ifrs-full:TaxExpenseOtherThanIncomeTaxExpense>
  <ifrs-full:TaxExpenseOtherThanIncomeTaxExpense contextRef="d_2015-01-01_2015-12-31" decimals="-5" id="c28293818" unitRef="iso4217-brl">17471700000</ifrs-full:TaxExpenseOtherThanIncomeTaxExpense>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2017-12-31" decimals="-5" id="c28296093" unitRef="iso4217-brl">11854000000</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayables contextRef="i_2016-12-31" decimals="-5" id="c28296094" unitRef="iso4217-brl">10868800000</ifrs-full:TradeAndOtherCurrentPayables>
  <ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties contextRef="i_2017-12-31" decimals="-5" id="c28296091" unitRef="iso4217-brl">1435600000</ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties>
  <ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties contextRef="i_2016-12-31" decimals="-5" id="c28296092" unitRef="iso4217-brl">1075800000</ifrs-full:TradeAndOtherCurrentPayablesToRelatedParties>
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    <link:loc xlink:href="#c28294897" xlink:label="c28294897" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28294897" xlink:to="f-72-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28294898" xlink:label="c28294898" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28294898" xlink:to="f-72-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-72-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">The balance refers mostly to Bank Deposit Certificates - CDB, high liquidity, which are readily convertible into known amounts of cash and which are subject to an insignificant risk of change in value.</link:footnote>
    <link:loc xlink:href="#c28305884" xlink:label="c28305884" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28305884" xlink:to="f-78-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28300765" xlink:label="c28300765" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28300765" xlink:to="f-78-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28300789" xlink:label="c28300789" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28300789" xlink:to="f-78-2" xlink:type="arc"/>
    <link:footnote xlink:label="f-78-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">R$3,770.1 of these interest on shareholder's equity refer to the total amount approved for distribution in the period, and were accrued in investments reserves.</link:footnote>
    <link:footnote xlink:label="f-78-2" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">These dividends refer to the total amount approved for distribution in the period, and were accrued in investments reserves.</link:footnote>
    <link:loc xlink:href="#c28294338" xlink:label="c28294338" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28294338" xlink:to="f-54-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28294339" xlink:label="c28294339" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28294339" xlink:to="f-54-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-54-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">In 2017 it refers mainly to the goodwill allocation of acquisition of Cachoeiras de Macacu, and in 2016 refers to the acquisition of Mark Anthony and Cerveceria Nacional in the transaction of exchange of shareholdings.</link:footnote>
    <link:loc xlink:href="#c28294602" xlink:label="c28294602" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28294602" xlink:to="f-60-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28294601" xlink:label="c28294601" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28294601" xlink:to="f-60-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-60-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">The balance refers substantially to Bank Deposit Certificates - CDB linked to tax incentives.</link:footnote>
    <link:loc xlink:href="#c28295996" xlink:label="c28295996" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28295996" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296018" xlink:label="c28296018" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296018" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296006" xlink:label="c28296006" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296006" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296028" xlink:label="c28296028" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296028" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28295998" xlink:label="c28295998" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28295998" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296008" xlink:label="c28296008" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296008" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296014" xlink:label="c28296014" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296014" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296002" xlink:label="c28296002" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296002" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296024" xlink:label="c28296024" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296024" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28295994" xlink:label="c28295994" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28295994" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296016" xlink:label="c28296016" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296016" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296004" xlink:label="c28296004" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296004" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296026" xlink:label="c28296026" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296026" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296010" xlink:label="c28296010" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296010" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296032" xlink:label="c28296032" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296032" xlink:to="f-97-i" xlink:type="arc"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296032" xlink:to="f-97-ii" xlink:type="arc"/>
    <link:loc xlink:href="#c28296020" xlink:label="c28296020" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296020" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296012" xlink:label="c28296012" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296012" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296034" xlink:label="c28296034" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296034" xlink:to="f-97-i" xlink:type="arc"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296034" xlink:to="f-97-ii" xlink:type="arc"/>
    <link:loc xlink:href="#c28296000" xlink:label="c28296000" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296000" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296022" xlink:label="c28296022" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296022" xlink:to="f-97-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28296030" xlink:label="c28296030" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296030" xlink:to="f-97-i" xlink:type="arc"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28296030" xlink:to="f-97-ii" xlink:type="arc"/>
    <link:footnote xlink:label="f-97-i" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Information based on weighted average plans granted, except for the expected dividends and risk-free interest rate.</link:footnote>
    <link:footnote xlink:label="f-97-ii" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">The percentages include the grants of stock options and ADR's during the period, in which the risk-free interest rate of ADR's are calculated in U.S. dollar.</link:footnote>
    <link:loc xlink:href="#c28297323" xlink:label="c28297323" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28297323" xlink:to="f-115-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28297324" xlink:label="c28297324" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28297324" xlink:to="f-115-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-115-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Variation refers, mainly, a new contracts with a new suppliers of aluminum in 2017.</link:footnote>
    <link:loc xlink:href="#c28297521" xlink:label="c28297521" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28297521" xlink:to="f-121-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28297523" xlink:label="c28297523" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28297523" xlink:to="f-121-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28297522" xlink:label="c28297522" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28297522" xlink:to="f-121-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28297525" xlink:label="c28297525" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28297525" xlink:to="f-121-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28297524" xlink:label="c28297524" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28297524" xlink:to="f-121-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28297526" xlink:label="c28297526" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28297526" xlink:to="f-121-2" xlink:type="arc"/>
    <link:footnote xlink:label="f-121-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">These correspond substantially to management's salaries and profit sharing (including performance bonuses).</link:footnote>
    <link:footnote xlink:label="f-121-2" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">These correspond to the compensation cost of stock options and restricted stocks granted to management. These amounts exclude remuneration paid to members of the Fiscal Council.</link:footnote>
    <link:loc xlink:href="#c28306072" xlink:label="c28306072" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306072" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306193" xlink:label="c28306193" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306193" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306192" xlink:label="c28306192" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306192" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306070" xlink:label="c28306070" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306070" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306191" xlink:label="c28306191" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306191" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306190" xlink:label="c28306190" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306190" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306076" xlink:label="c28306076" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306076" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306197" xlink:label="c28306197" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306197" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306196" xlink:label="c28306196" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306196" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306151" xlink:label="c28306151" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306151" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306073" xlink:label="c28306073" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306073" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306150" xlink:label="c28306150" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306150" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306102" xlink:label="c28306102" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306102" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306101" xlink:label="c28306101" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306101" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306067" xlink:label="c28306067" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306067" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306100" xlink:label="c28306100" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306100" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306066" xlink:label="c28306066" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306066" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306187" xlink:label="c28306187" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306187" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306106" xlink:label="c28306106" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306106" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306149" xlink:label="c28306149" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306149" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306148" xlink:label="c28306148" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306148" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306103" xlink:label="c28306103" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306103" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306109" xlink:label="c28306109" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306109" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306108" xlink:label="c28306108" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306108" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306107" xlink:label="c28306107" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306107" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306083" xlink:label="c28306083" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306083" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306160" xlink:label="c28306160" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306160" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306082" xlink:label="c28306082" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28306082" xlink:to="f-122-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28306120" xlink:label="c28306120" xlink:type="locator"/>
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    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298883" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28299059" xlink:label="c28299059" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299059" xlink:to="f-37-1" xlink:type="arc"/>
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    <link:loc xlink:href="#c28298880" xlink:label="c28298880" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298880" xlink:to="f-37-1" xlink:type="arc"/>
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    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298881" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28299574" xlink:label="c28299574" xlink:type="locator"/>
    <link:footnoteArc order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299574" xlink:to="f-37-4" xlink:type="arc"/>
    <link:loc xlink:href="#c28298978" xlink:label="c28298978" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298978" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28298979" xlink:label="c28298979" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298979" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28298976" xlink:label="c28298976" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298976" xlink:to="f-37-1" xlink:type="arc"/>
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    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298977" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28298974" xlink:label="c28298974" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298974" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28298975" xlink:label="c28298975" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298975" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28299027" xlink:label="c28299027" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299027" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28299025" xlink:label="c28299025" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299025" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28299026" xlink:label="c28299026" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299026" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28299023" xlink:label="c28299023" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299023" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28299024" xlink:label="c28299024" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299024" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28299022" xlink:label="c28299022" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299022" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28299380" xlink:label="c28299380" xlink:type="locator"/>
    <link:footnoteArc order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299380" xlink:to="f-37-4" xlink:type="arc"/>
    <link:loc xlink:href="#c28299381" xlink:label="c28299381" xlink:type="locator"/>
    <link:footnoteArc order="3" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299381" xlink:to="f-37-4" xlink:type="arc"/>
    <link:loc xlink:href="#c28298907" xlink:label="c28298907" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298907" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28298905" xlink:label="c28298905" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298905" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28298906" xlink:label="c28298906" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298906" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28298903" xlink:label="c28298903" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298903" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28298904" xlink:label="c28298904" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298904" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28298868" xlink:label="c28298868" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298868" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28298869" xlink:label="c28298869" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298869" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28298902" xlink:label="c28298902" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298902" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28298866" xlink:label="c28298866" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298866" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28298987" xlink:label="c28298987" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298987" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28298867" xlink:label="c28298867" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298867" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28298988" xlink:label="c28298988" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298988" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28298986" xlink:label="c28298986" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28298986" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28299038" xlink:label="c28299038" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299038" xlink:to="f-37-3" xlink:type="arc"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299038" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28299159" xlink:label="c28299159" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299159" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28299039" xlink:label="c28299039" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299039" xlink:to="f-37-3" xlink:type="arc"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299039" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28299036" xlink:label="c28299036" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299036" xlink:to="f-37-3" xlink:type="arc"/>
    <link:loc xlink:href="#c28299157" xlink:label="c28299157" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299157" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28299037" xlink:label="c28299037" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299037" xlink:to="f-37-3" xlink:type="arc"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299037" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28299158" xlink:label="c28299158" xlink:type="locator"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299158" xlink:to="f-37-2" xlink:type="arc"/>
    <link:loc xlink:href="#c28299034" xlink:label="c28299034" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299034" xlink:to="f-37-3" xlink:type="arc"/>
    <link:loc xlink:href="#c28299155" xlink:label="c28299155" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299155" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28299035" xlink:label="c28299035" xlink:type="locator"/>
    <link:footnoteArc order="2" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299035" xlink:to="f-37-3" xlink:type="arc"/>
    <link:loc xlink:href="#c28299156" xlink:label="c28299156" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299156" xlink:to="f-37-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28299154" xlink:label="c28299154" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28299154" xlink:to="f-37-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-37-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Latin America - North: includes operations in Brazil, Luxembourg and CAC (El Salvador, Guatemala, Nicaragua, Dominican Republic, Saint Vincent, Dominica, Antigua, Cuba, Barbados and Panama).</link:footnote>
    <link:footnote xlink:label="f-37-2" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Latin America - South: includes operations in Argentina, Bolivia, Chile, Paraguay and Uruguay. In addition Colombia, Ecuador and Peru, until December 31, 2016, due to exchange of shareholdings, according the Note 1 - Corporate information.</link:footnote>
    <link:footnote xlink:label="f-37-3" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Normalized EBITDA is calculated excluding of the net income the following effects: (i) Income tax expense, (iii) Share of results of joint ventures (iii) Net finance result, (iv) Exceptional items, and (v) Depreciation, amortization and impairment of property, plant and equipment.</link:footnote>
    <link:footnote xlink:label="f-37-4" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Normalized EBITDA is calculated excluding of the net income the following effects: (i) Income tax expense, (iii) Share of results of joint ventures, (iii) Net finance result, (iv) Exceptional items, and (v) Depreciation, amortization and impairment of property, plant and equipment.</link:footnote>
    <link:loc xlink:href="#c28295382" xlink:label="c28295382" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28295382" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28295381" xlink:label="c28295381" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28295381" xlink:to="f-80-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28295380" xlink:label="c28295380" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28295380" xlink:to="f-80-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-80-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Not considered treasury shares.</link:footnote>
    <link:loc xlink:href="#c28291693" xlink:label="c28291693" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28291693" xlink:to="f-81-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28291692" xlink:label="c28291692" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28291692" xlink:to="f-81-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28291697" xlink:label="c28291697" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28291697" xlink:to="f-81-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28291696" xlink:label="c28291696" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28291696" xlink:to="f-81-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28291694" xlink:label="c28291694" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28291694" xlink:to="f-81-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28291698" xlink:label="c28291698" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28291698" xlink:to="f-81-1" xlink:type="arc"/>
    <link:footnote xlink:label="f-81-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Expressed in Brazilian Reais.</link:footnote>
    <link:loc xlink:href="#c28292805" xlink:label="c28292805" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28292805" xlink:to="f-35-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28292858" xlink:label="c28292858" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28292858" xlink:to="f-35-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28292857" xlink:label="c28292857" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28292857" xlink:to="f-35-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28292809" xlink:label="c28292809" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28292809" xlink:to="f-35-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28292808" xlink:label="c28292808" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28292808" xlink:to="f-35-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28292807" xlink:label="c28292807" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28292807" xlink:to="f-35-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28292806" xlink:label="c28292806" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28292806" xlink:to="f-35-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28292794" xlink:label="c28292794" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28292794" xlink:to="f-35-1" xlink:type="arc"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28292794" xlink:to="f-35-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28292856" xlink:label="c28292856" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28292856" xlink:to="f-35-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28292789" xlink:label="c28292789" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28292789" xlink:to="f-35-1" xlink:type="arc"/>
    <link:footnoteArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28292789" xlink:to="f-35-i" xlink:type="arc"/>
    <link:loc xlink:href="#c28292855" xlink:label="c28292855" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28292855" xlink:to="f-35-1" xlink:type="arc"/>
    <link:loc xlink:href="#c28292810" xlink:label="c28292810" xlink:type="locator"/>
    <link:footnoteArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="c28292810" xlink:to="f-35-1" xlink:type="arc"/>
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    <link:footnote xlink:label="f-35-i" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">The functional currency of Cuba, the Cuban convertible peso ("CUC"), has a fixed parity with the dollar ("USD") at balance sheet date.</link:footnote>
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    <link:footnote xlink:label="f-58-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">The period of amortization of intangible assets of definite useful life is five years and amortization is calculated at the rate of 20% and recognized in income on a straight-line method.</link:footnote>
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    <link:footnote xlink:label="f-110-1" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">Refers to the put option granted on subsidiary as described in Note 21 d(4).</link:footnote>
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  <xsd:element abstract="true" id="abev_BrazilianFederalTaxAuthoritiesMember" name="BrazilianFederalTaxAuthoritiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_BrazilianRealRiskPortionOfCostExposureMember" name="BrazilianRealRiskPortionOfCostExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_BrazilianRealRiskPortionOfTheExpensesExposureMember" name="BrazilianRealRiskPortionOfTheExpensesExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_BrazilianTaxAuthoritiesMember" name="BrazilianTaxAuthoritiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions" name="BuyingServiceFeesAndRentalsRelatedPartyTransactions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CRBSSAAndAmbevLuxembourgMember" name="CRBSSAAndAmbevLuxembourgMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CachoeiraDeMacacuBebidasLtdaMember" name="CachoeiraDeMacacuBebidasLtdaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CanadaMember" name="CanadaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CanadaSegmentMember" name="CanadaSegmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CanadianDollarRiskPortionOfTheExpensesExposureMember" name="CanadianDollarRiskPortionOfTheExpensesExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CanadianDollarRiskPortionOfTheForeignInvestmentsExposureMember" name="CanadianDollarRiskPortionOfTheForeignInvestmentsExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CanadianDollarsSpentInCanadaAndCubaMember" name="CanadianDollarsSpentInCanadaAndCubaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CapexPurchaseAffectingTheForeignCurrencyExchangeRiskPortionOfTheFixedAssetsExposureMember" name="CapexPurchaseAffectingTheForeignCurrencyExchangeRiskPortionOfTheFixedAssetsExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CarryingValueAdjustmentsAccountingAdjustmentsForTransactionsBetweenShareholdersMember" name="CarryingValueAdjustmentsAccountingAdjustmentsForTransactionsBetweenShareholdersMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CarryingValueAdjustmentsActuarialGainslossesMember" name="CarryingValueAdjustmentsActuarialGainslossesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CarryingValueAdjustmentsBusinessCombinationMember" name="CarryingValueAdjustmentsBusinessCombinationMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CarryingValueAdjustmentsCashFlowHedgeMember" name="CarryingValueAdjustmentsCashFlowHedgeMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CarryingValueAdjustmentsGainsOfNoncontrollingInterestsShareMember" name="CarryingValueAdjustmentsGainsOfNoncontrollingInterestsShareMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CarryingValueAdjustmentsMember" name="CarryingValueAdjustmentsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CarryingValueAdjustmentsPutOptionGrantedOnSubsidiaryMember" name="CarryingValueAdjustmentsPutOptionGrantedOnSubsidiaryMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CarryingValueAdjustmentsTranslationReservesMember" name="CarryingValueAdjustmentsTranslationReservesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_CashAndCashEquivalentsAfterBankOverdrafts" name="CashAndCashEquivalentsAfterBankOverdrafts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="abev_CashGuarantees" name="CashGuarantees" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfCashExposureMember" name="CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfCashExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfDebtExposureMember" name="CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfDebtExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CashgeneratingUnitInCanadaMember" name="CashgeneratingUnitInCanadaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CentralAmericaAndTheCaribbeanMember" name="CentralAmericaAndTheCaribbeanMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CertainHoldersOfWarrantsIssuedByOldAmbevMember" name="CertainHoldersOfWarrantsIssuedByOldAmbevMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CerveceiraModeloDeGuadalajaraSaMember" name="CerveceiraModeloDeGuadalajaraSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CerveceraNacionalDominicanaSaMember" name="CerveceraNacionalDominicanaSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CerveceriaBolivianaNacionalSaMember" name="CerveceriaBolivianaNacionalSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CerveceriaChileSaMember" name="CerveceriaChileSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CerveceriaModeloDeMexicoSDeRlDeCvMember" name="CerveceriaModeloDeMexicoSDeRlDeCvMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CerveceriaNacionalSDeRlMember" name="CerveceriaNacionalSDeRlMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CerveceriaParaguayaSaMember" name="CerveceriaParaguayaSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CerveceriaYMalteriaPayssandSaMember" name="CerveceriaYMalteriaPayssandSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CerveceriaYMalteriaQuilmesSaicaYGMember" name="CerveceriaYMalteriaQuilmesSaicaYGMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CervejariaZxMember" name="CervejariaZxMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_ChangesRelatedToDeferredTaxRecognizedInOtherInTheBalanceSheet" name="ChangesRelatedToDeferredTaxRecognizedInOtherInTheBalanceSheet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ChileanPesoSpentInChileMember" name="ChileanPesoSpentInChileMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ClaimantsInCanadaMember" name="ClaimantsInCanadaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_CliffVestPeriod" name="CliffVestPeriod" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_CollateralAndOtherCommitments" name="CollateralAndOtherCommitments" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="abev_CommitmentsWithSuppliers" name="CommitmentsWithSuppliers" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_CommoditiesAndForeignExchangeHedgesMember" name="CommoditiesAndForeignExchangeHedgesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CommoditiesHedgeMember" name="CommoditiesHedgeMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CommodityRiskPortionOfCostExposureMember" name="CommodityRiskPortionOfCostExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_CommonSharesAllegedAmountRequested" name="CommonSharesAllegedAmountRequested" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_CompaiaCerveceraAmbevPeruSacMember" name="CompaiaCerveceraAmbevPeruSacMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_CostToSellRate" name="CostToSellRate" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_CrbsSaMember" name="CrbsSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_CurrentDividendAndInterestPayables" name="CurrentDividendAndInterestPayables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_CurrentRecoverablesFromIncomeTaxAndSocialContributions" name="CurrentRecoverablesFromIncomeTaxAndSocialContributions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="abev_CurrentTaxAndContributionsLiabilitiesCurrent" name="CurrentTaxAndContributionsLiabilitiesCurrent" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_CurrentTaxAndContributionsLiabilitiesNoncurrent" name="CurrentTaxAndContributionsLiabilitiesNoncurrent" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_CurrentTaxAndContributionsLiabilitiesNoncurrentSpecialProgramForTaxRegulation" name="CurrentTaxAndContributionsLiabilitiesNoncurrentSpecialProgramForTaxRegulation" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_CurrentTradeReceivablesNetOfBadDebtProvisions" name="CurrentTradeReceivablesNetOfBadDebtProvisions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_DebenturesAndUnsecuredBondIssuesMember" name="DebenturesAndUnsecuredBondIssuesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_DebtDenominatedInCADDollarsMember" name="DebtDenominatedInCADDollarsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_DebtDenominatedInOtherLatinAmericanCurrenciesMember" name="DebtDenominatedInOtherLatinAmericanCurrenciesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_DebtDenominatedInUSDMember" name="DebtDenominatedInUSDMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity" name="DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_DeductibleInterestOnNetEquity" name="DeductibleInterestOnNetEquity" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_DeferredStockUnitsOfGrantOneMember" name="DeferredStockUnitsOfGrantOneMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_DeferredTaxesNotRelatedToTaxLossesMember" name="DeferredTaxesNotRelatedToTaxLossesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DefinedBenefitObligationFundedPortionAtPresentValue" name="DefinedBenefitObligationFundedPortionAtPresentValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_DefinedBenefitObligationUnfundedPortionAtPresentValue" name="DefinedBenefitObligationUnfundedPortionAtPresentValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_DefinedBenefitPlansRecognizedFinancialCosts" name="DefinedBenefitPlansRecognizedFinancialCosts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_DepartmentOfFederalRevenueOfBrazilMember" name="DepartmentOfFederalRevenueOfBrazilMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DepreciationExpenseAdministrativeExpenses" name="DepreciationExpenseAdministrativeExpenses" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_DepreciationExpenseCostOfSales" name="DepreciationExpenseCostOfSales" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_DepreciationExpenseDistributionExpenses" name="DepreciationExpenseDistributionExpenses" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_DepreciationExpenseSalesAndMarketingExpenses" name="DepreciationExpenseSalesAndMarketingExpenses" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_DerivativeFinancialAssetsHeldForHedgingOperationalHedges" name="DerivativeFinancialAssetsHeldForHedgingOperationalHedges" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="abev_DerivativeFinancialLiabilitiesHeldForHedgingFairValueHedges" name="DerivativeFinancialLiabilitiesHeldForHedgingFairValueHedges" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_DerivativeFinancialLiabilitiesHeldForHedgingOperationalHedge" name="DerivativeFinancialLiabilitiesHeldForHedgingOperationalHedge" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_DescriptionOfAccountingPolicyForNewIFRSRelasesTextBlock" name="DescriptionOfAccountingPolicyForNewIFRSRelasesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DescriptionOfAccountingPolicyForTheBasisOfConsolidationTextBlock" name="DescriptionOfAccountingPolicyForTheBasisOfConsolidationTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DescriptionOfCorporateInformationTextBlock" name="DescriptionOfCorporateInformationTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DirectChangesToDeferredTaxAndLiabilitiesInTheBalanceSheet" name="DirectChangesToDeferredTaxAndLiabilitiesInTheBalanceSheet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureForTheBasisOfDividendsTextBlock" name="DisclosureForTheBasisOfDividendsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfActuarialAssumptionsOfTheEntityTextBlock" name="DisclosureOfActuarialAssumptionsOfTheEntityTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfAssetCeilingTextBlock" name="DisclosureOfAssetCeilingTextBlock" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfChangesInCarryingValueOfEquityTextBlock" name="DisclosureOfChangesInCarryingValueOfEquityTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfChangesInEquityTextBlock" name="DisclosureOfChangesInEquityTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfCollateralAndContractualCommitmentsWithSuppliersAdvancesFromCustomersAndOtherTextBlock" name="DisclosureOfCollateralAndContractualCommitmentsWithSuppliersAdvancesFromCustomersAndOtherTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfComponentsInCashAndCashEquivalentsTextBlock" name="DisclosureOfComponentsInCashAndCashEquivalentsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfCurrentTradeReceivablesTextBlock" name="DisclosureOfCurrentTradeReceivablesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfDeferredIncomeTaxAndSocialContributionTextBlock" name="DisclosureOfDeferredIncomeTaxAndSocialContributionTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfDeferredTaxRealizationRelatedToTaxLossesTextBlock" name="DisclosureOfDeferredTaxRealizationRelatedToTaxLossesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfDefinedBenefitObligationTextBlock" name="DisclosureOfDefinedBenefitObligationTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfDefinedBenefitPlansRecognizedInTheIncomeStatementTextBlock" name="DisclosureOfDefinedBenefitPlansRecognizedInTheIncomeStatementTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfDetailedInformationAboutNoncashItemsTextBlock" name="DisclosureOfDetailedInformationAboutNoncashItemsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfDetailedInformationAboutSubsidiariesTextBlock" name="DisclosureOfDetailedInformationAboutSubsidiariesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfEmployeeBenefitRevenueExpensesAllocationInIncomeStatementTextBlock" name="DisclosureOfEmployeeBenefitRevenueExpensesAllocationInIncomeStatementTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfEstimatedUsefulLivesOfMajorPropertyPlantAndEquipmentClassesTextBlock" name="DisclosureOfEstimatedUsefulLivesOfMajorPropertyPlantAndEquipmentClassesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfEstimatesOfPossibleLossesTextBlock" name="DisclosureOfEstimatesOfPossibleLossesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfExceptionalItemsIncludedInTheIncomeStatementTextBlock" name="DisclosureOfExceptionalItemsIncludedInTheIncomeStatementTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfExceptionalItemsTextBlock" name="DisclosureOfExceptionalItemsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfFinancialInstrumentsFairValueHierarchyTextBlock" name="DisclosureOfFinancialInstrumentsFairValueHierarchyTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfFutureContractualCommitmentsTextBlock" name="DisclosureOfFutureContractualCommitmentsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfIncomeTaxAndSocialContributionTextBlock" name="DisclosureOfIncomeTaxAndSocialContributionTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfInterestOnShareholdersEquityAndDividendsTextBlock" name="DisclosureOfInterestOnShareholdersEquityAndDividendsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfInventoryComponentsTextBlock" name="DisclosureOfInventoryComponentsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfInvestmentSecuritiesPortionsTextBlock" name="DisclosureOfInvestmentSecuritiesPortionsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfInvestmentSecuritiesTextBlock" name="DisclosureOfInvestmentSecuritiesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfKeyManagementPersonnelCompensationTextBlock" name="DisclosureOfKeyManagementPersonnelCompensationTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfMaturityOfTheCurrentTradeReceivablesTextBlock" name="DisclosureOfMaturityOfTheCurrentTradeReceivablesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfNetIncomeReservesTextBlock" name="DisclosureOfNetIncomeReservesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfNotionalAndFairValueAmountsPerFinancialInstrumentAndMaturityTextBlock" name="DisclosureOfNotionalAndFairValueAmountsPerFinancialInstrumentAndMaturityTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfOtherOperatingIncomeExpensePortionsTextBlock" name="DisclosureOfOtherOperatingIncomeExpensePortionsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfPayrollAndRelatedBenefitsAffectingTheIncomeStatementTextBlock" name="DisclosureOfPayrollAndRelatedBenefitsAffectingTheIncomeStatementTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfPayrollAndRelatedBenefitsOfTheEntityTextBlock" name="DisclosureOfPayrollAndRelatedBenefitsOfTheEntityTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfPayrollAndRelatedBenefitsTextBlock" name="DisclosureOfPayrollAndRelatedBenefitsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfPlanAssetsComponentsTextBlock" name="DisclosureOfPlanAssetsComponentsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfReconciliationFromTheWeightedNominalToTheEffectiveTaxRateTextBlock" name="DisclosureOfReconciliationFromTheWeightedNominalToTheEffectiveTaxRateTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfReportableSegmentsTextBlock" name="DisclosureOfReportableSegmentsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_DisclosureOfSignificantAccountingPoliciesAbstract" name="DisclosureOfSignificantAccountingPoliciesAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfTermsAndDebtRepaymentsTextBlock" name="DisclosureOfTermsAndDebtRepaymentsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfTheAppliedRatesForDeferredIncomeAndSocialContributionTextBlock" name="DisclosureOfTheAppliedRatesForDeferredIncomeAndSocialContributionTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfTheChangeInFairValueOfThePlanAssetsTextBlock" name="DisclosureOfTheChangeInFairValueOfThePlanAssetsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfTheComponentsOfTradePayablesTextBlock" name="DisclosureOfTheComponentsOfTradePayablesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfTheDisbursementExpectativeOfTheProvisionsTextBlock" name="DisclosureOfTheDisbursementExpectativeOfTheProvisionsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfTheNumberOfShareOptionsTextBlock" name="DisclosureOfTheNumberOfShareOptionsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfTheRealizationOfDeferredTaxAssetsAndLiabilitiesTextBlock" name="DisclosureOfTheRealizationOfDeferredTaxAssetsAndLiabilitiesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfTheReconciliationBetweenGrossSalesAndNetSalesTextBlock" name="DisclosureOfTheReconciliationBetweenGrossSalesAndNetSalesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfTheReconciliationOfChangesInDeferredTaxLiabilityAssetTextBlock" name="DisclosureOfTheReconciliationOfChangesInDeferredTaxLiabilityAssetTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfTotalLiabilitiesTextBlock" name="DisclosureOfTotalLiabilitiesTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisclosureOfWeightedAverageExercisePricesOfShareOptionsTextBlock" name="DisclosureOfWeightedAverageExercisePricesOfShareOptionsTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill" name="DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_DisposalsThroughStockExchangePropertyPlantAndEquipment" name="DisposalsThroughStockExchangePropertyPlantAndEquipment" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_DistributionContractsMember" name="DistributionContractsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DividendPercentageOfNetIncome" name="DividendPercentageOfNetIncome" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_Dividends1Member" name="Dividends1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_Dividends2Member" name="Dividends2Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_DividendsAndInterestOnCapitalPaidBasedOnProfit" name="DividendsAndInterestOnCapitalPaidBasedOnProfit" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_DividendsAndInterestPaidOnShareholdersEquity" name="DividendsAndInterestPaidOnShareholdersEquity" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_DividendsPayableRelatedPartyTransactions" name="DividendsPayableRelatedPartyTransactions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_DocumentAndEntityInformation" name="DocumentAndEntityInformation" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_DominicanPesosSpentInTheDominicanRepublicMember" name="DominicanPesosSpentInTheDominicanRepublicMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ELenJimenesSaMember" name="ELenJimenesSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_EmployeeBenefitLiabilitiesMember" name="EmployeeBenefitLiabilitiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_EmployeeBenefitRevenueExpensesAllocatedToAdministrativeExpensesMember" name="EmployeeBenefitRevenueExpensesAllocatedToAdministrativeExpensesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_EmployeeBenefitRevenueExpensesAllocatedToExceptionalItemsMember" name="EmployeeBenefitRevenueExpensesAllocatedToExceptionalItemsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_EmployeeBenefitRevenueExpensesAllocatedToFinancialExpensesMember" name="EmployeeBenefitRevenueExpensesAllocatedToFinancialExpensesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_EmployeeBenefitRevenueExpensesAllocatedToSalesAndMarketingExpensesMember" name="EmployeeBenefitRevenueExpensesAllocatedToSalesAndMarketingExpensesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_EmployeeBenefitRevenueexpensesAllocatedToCostOfSalesMember" name="EmployeeBenefitRevenueexpensesAllocatedToCostOfSalesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_EmployeeBenefitsAssetsMember" name="EmployeeBenefitsAssetsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_EmployeeBenefitsExpenseAdministrativeExpenses" name="EmployeeBenefitsExpenseAdministrativeExpenses" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_EmployeeBenefitsExpenseCostOfSales" name="EmployeeBenefitsExpenseCostOfSales" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_EmployeeBenefitsExpenseDistributionExpenses" name="EmployeeBenefitsExpenseDistributionExpenses" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_EmployeeBenefitsExpenseExceptionalItems" name="EmployeeBenefitsExpenseExceptionalItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_EmployeeBenefitsExpenseNetFinanceCosts" name="EmployeeBenefitsExpenseNetFinanceCosts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_EmployeeBenefitsExpenseSalesAndMarketingExpenses" name="EmployeeBenefitsExpenseSalesAndMarketingExpenses" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_EnteringIntoTwoLoanAgreementsMember" name="EnteringIntoTwoLoanAgreementsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_EquityInstrumentHedgesMember" name="EquityInstrumentHedgesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_EquitySharesOutstanding" name="EquitySharesOutstanding" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="instant"/>
  <xsd:element id="abev_EstimatedFinancialEffectOfContingentLiabilitiesPercentageReimbursement" name="EstimatedFinancialEffectOfContingentLiabilitiesPercentageReimbursement" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_EuroRiskPortionOfCostExposureMember" name="EuroRiskPortionOfCostExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_EuroRiskPortionOfFixedAssetsExposureMember" name="EuroRiskPortionOfFixedAssetsExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_EuroRiskPortionOfTheCashExposureMember" name="EuroRiskPortionOfTheCashExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_EuroRiskPortionOfTheExpensesExposureMember" name="EuroRiskPortionOfTheExpensesExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_EuroRiskPortionOfTheForeignInvestmentsExposureMember" name="EuroRiskPortionOfTheForeignInvestmentsExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_ExceptionalItems" name="ExceptionalItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_ExpensesIncurredByARelatedParty" name="ExpensesIncurredByARelatedParty" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ExpensesThatAffectTheEquityInstrumentRiskPortionOfEquityExposureMember" name="ExpensesThatAffectTheEquityInstrumentRiskPortionOfEquityExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ExpensesThatAffectTheForeignCurrencyExchangeRiskPortionOfExpensesExposureMember" name="ExpensesThatAffectTheForeignCurrencyExchangeRiskPortionOfExpensesExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ExternalUseAssetsMember" name="ExternalUseAssetsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_FairValueOfProfitLossFromALikekindExchangeOfProperty" name="FairValueOfProfitLossFromALikekindExchangeOfProperty" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_FinanceCostsExceptionalItems" name="FinanceCostsExceptionalItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_FinanceCostsExcludingNonrecurringFinanceCosts" name="FinanceCostsExcludingNonrecurringFinanceCosts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_FinancialAssetCashAndCashEquivalentsMember" name="FinancialAssetCashAndCashEquivalentsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_FinancialAssetInvestmentSecuritiesMember" name="FinancialAssetInvestmentSecuritiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis" name="FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="instant"/>
  <xsd:element id="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis" name="FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis" name="FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis" name="FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_FinancialLeasingMember" name="FinancialLeasingMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_FinancialLiabilitiesDerivativeHedgesCategoriesMember" name="FinancialLiabilitiesDerivativeHedgesCategoriesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_FinancialLiabilitiesDerivativesMember" name="FinancialLiabilitiesDerivativesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_FittingsMember" name="FittingsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_FixturesMember" name="FixturesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ForeignCurrencyExchangeHedgeMember" name="ForeignCurrencyExchangeHedgeMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ForeignCurrencyExchangePortionOfDebtEffectsExposureMember" name="ForeignCurrencyExchangePortionOfDebtEffectsExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ForeignCurrencyExchangeRiskPortionOfCashExposureMember" name="ForeignCurrencyExchangeRiskPortionOfCashExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ForeignCurrencyExchangeRiskPortionOfExpensesExposureMember" name="ForeignCurrencyExchangeRiskPortionOfExpensesExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ForeignCurrencyRiskPortionOfFixedAssetsExposureMember" name="ForeignCurrencyRiskPortionOfFixedAssetsExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ForeignExchangeRiskPortionOfCostExposureMember" name="ForeignExchangeRiskPortionOfCostExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_FundacaoZerrennerMember" name="FundacaoZerrennerMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_GainsLossesFromOperationalResults" name="GainsLossesFromOperationalResults" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_GainsLossesOnOtherExchangeDifferencesOnTranslationNetOfTax" name="GainsLossesOnOtherExchangeDifferencesOnTranslationNetOfTax" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_GainsLossesRecognisedEquityFairValueMeasurementLiabilities" name="GainsLossesRecognisedEquityFairValueMeasurementLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_GainsLossesRecordedInEquity" name="GainsLossesRecordedInEquity" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_GainsLossesRecordedInFinancialResults" name="GainsLossesRecordedInFinancialResults" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_GoodwillGross" name="GoodwillGross" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="abev_GoodwillPercentageOfTotalAssets" name="GoodwillPercentageOfTotalAssets" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_GrantOneMember" name="GrantOneMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_GrantTwoMember" name="GrantTwoMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_GuaraniSpentInParaguaiMember" name="GuaraniSpentInParaguaiMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_GuaranteesHeldForDerivativeInstruments" name="GuaranteesHeldForDerivativeInstruments" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_ICMSAndIPIContingentLiabilityMember" name="ICMSAndIPIContingentLiabilityMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_IRPFAndCSLLTaxContingentLiabilityMember" name="IRPFAndCSLLTaxContingentLiabilityMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InbevBelgiumNvMember" name="InbevBelgiumNvMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_IncomeTaxExpenseContinuingOperationsExceptionalItems" name="IncomeTaxExpenseContinuingOperationsExceptionalItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_IncomeTaxExpenseContinuingOperationsFinancialResultsFederalTaxAmnestyProgram" name="IncomeTaxExpenseContinuingOperationsFinancialResultsFederalTaxAmnestyProgram" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_IncomeTaxExpenseContinuingOperationsNonrecurringFedeeralTaxAmenstyProgram" name="IncomeTaxExpenseContinuingOperationsNonrecurringFedeeralTaxAmenstyProgram" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_IncomeTaxRelatingToHedgesOfInvestmentsRegardingPutOptionsOfASubsidiaryInterestInEquityInstrumentsOfOtherComprehensiveIncome" name="IncomeTaxRelatingToHedgesOfInvestmentsRegardingPutOptionsOfASubsidiaryInterestInEquityInstrumentsOfOtherComprehensiveIncome" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_IncreaseDecreaseInAdditionalInterestOnShareholdersEquity" name="IncreaseDecreaseInAdditionalInterestOnShareholdersEquity" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_IncreaseDecreaseInFiscalIncentiveReserve" name="IncreaseDecreaseInFiscalIncentiveReserve" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_IncreaseDecreaseInReserveDestinationEquity" name="IncreaseDecreaseInReserveDestinationEquity" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_IncreaseDecreaseInvestmentsReserve" name="IncreaseDecreaseInvestmentsReserve" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity" name="IncreaseDecreaseThroughChangeInShareholdersEquityEquity" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity" name="IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity" name="IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_IncreaseDecreaseThroughSharebasedPaymentTransactionsCapitalReserve" name="IncreaseDecreaseThroughSharebasedPaymentTransactionsCapitalReserve" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_IncreaseDecreaseThroughTreasuryShareTransactionsCapitalReserve" name="IncreaseDecreaseThroughTreasuryShareTransactionsCapitalReserve" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_IncreaseInInterestOnCapitalApprovedForDistribution" name="IncreaseInInterestOnCapitalApprovedForDistribution" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_IndustriasDelAtlnticoSociedadAnonimaMember" name="IndustriasDelAtlnticoSociedadAnonimaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InputPurchaseAffectingTheCommodityRiskPortionOfCostExposureMember" name="InputPurchaseAffectingTheCommodityRiskPortionOfCostExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InputPurchaseThatAffectsTheForeignExchangeRiskPortionOfCostExposureMember" name="InputPurchaseThatAffectsTheForeignExchangeRiskPortionOfCostExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_IntangibleAssetsInArgentinaMember" name="IntangibleAssetsInArgentinaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_IntangibleAssetsInBoliviaMember" name="IntangibleAssetsInBoliviaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_IntangibleAssetsInBrazilMember" name="IntangibleAssetsInBrazilMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_IntangibleAssetsInCanadaMember" name="IntangibleAssetsInCanadaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_IntangibleAssetsInChileMember" name="IntangibleAssetsInChileMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_IntangibleAssetsInLuxembourgMember" name="IntangibleAssetsInLuxembourgMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_IntangibleAssetsInParaguayMember" name="IntangibleAssetsInParaguayMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_IntangibleAssetsInTheDominicanRepublicMember" name="IntangibleAssetsInTheDominicanRepublicMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_IntangibleAssetsInUruaguayMember" name="IntangibleAssetsInUruaguayMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InterbrewInternationalBvMember" name="InterbrewInternationalBvMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InterestAndForeignCurrencyHedgesMember" name="InterestAndForeignCurrencyHedgesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_InterestExpenseFairValueHedgeOnHedgedItems" name="InterestExpenseFairValueHedgeOnHedgedItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_InterestExpenseFairValueHedgeOnHedgingInstruments" name="InterestExpenseFairValueHedgeOnHedgingInstruments" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_InterestExpenseOnLiabilitiesDesignatedAtFairValueThroughProfitOrLoss" name="InterestExpenseOnLiabilitiesDesignatedAtFairValueThroughProfitOrLoss" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InterestExpensesAffectingTheInterestRatePortionOfTheDebtsExposurePortionMember" name="InterestExpensesAffectingTheInterestRatePortionOfTheDebtsExposurePortionMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InterestHedgeMember" name="InterestHedgeMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_InterestOnNetEquityDeductibleAndToBeDeductible" name="InterestOnNetEquityDeductibleAndToBeDeductible" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_InterestOnProvisionForContingencies" name="InterestOnProvisionForContingencies" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InterestRateRiskAmericanDollarMember" name="InterestRateRiskAmericanDollarMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InterestRateRiskArgentineanPesoMember" name="InterestRateRiskArgentineanPesoMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InterestRateRiskBarbadianDollarMember" name="InterestRateRiskBarbadianDollarMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InterestRateRiskBrazilianRealMember" name="InterestRateRiskBrazilianRealMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InterestRateRiskCanadianDollarMember" name="InterestRateRiskCanadianDollarMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InterestRateRiskDominicanPesoMember" name="InterestRateRiskDominicanPesoMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InterestRateRiskGuatemalasQuetzalMember" name="InterestRateRiskGuatemalasQuetzalMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InterestRateRiskPortionOfTheCashExposureMember" name="InterestRateRiskPortionOfTheCashExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InterestRateRiskPortionOfTheDebtsExposureMember" name="InterestRateRiskPortionOfTheDebtsExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InterestRevenueTransactionAffectingTheInterestRateRiskPortionOfTheCashExposureMember" name="InterestRevenueTransactionAffectingTheInterestRateRiskPortionOfTheCashExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_InterestbearingLoansAndBorrowingsMember" name="InterestbearingLoansAndBorrowingsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_InventoriesImpairmentLosses" name="InventoriesImpairmentLosses" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_InvestmentReserveLimitPercentageOfNetIncome" name="InvestmentReserveLimitPercentageOfNetIncome" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_InvestmentSecurities" name="InvestmentSecurities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="abev_IssueOfEquityShares" name="IssueOfEquityShares" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_JaluaSpainSlMember" name="JaluaSpainSlMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_LabattBreweriesMember" name="LabattBreweriesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_LabattBrewingCompanyLimitedMember" name="LabattBrewingCompanyLimitedMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_LaborContingentLiabilityMember" name="LaborContingentLiabilityMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_LaterThanAYearMember" name="LaterThanAYearMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_LaterThanSixMonthsAndLessThan12MonthsMember" name="LaterThanSixMonthsAndLessThan12MonthsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_LaterThanThreeMonthsAndLessThanSixMonthsMember" name="LaterThanThreeMonthsAndLessThanSixMonthsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_LaterThanTwoYearsMember" name="LaterThanTwoYearsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_LatinAmericaMember" name="LatinAmericaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_LegalProceedingsContingentLiabilityRelatedToTheIntegrationProgrammesocialSecurityFinancingLevyMember" name="LegalProceedingsContingentLiabilityRelatedToTheIntegrationProgrammesocialSecurityFinancingLevyMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_LessThanOneMonthMember" name="LessThanOneMonthMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_LinthalSaMember" name="LinthalSaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_LossesGainsRecognizedInTheYearFairValueMeasurementLiabilities" name="LossesGainsRecognizedInTheYearFairValueMeasurementLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_LotAMember" name="LotAMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_LotBMember" name="LotBMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_MarkAnthonyGroupMember" name="MarkAnthonyGroupMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreement" name="MaximumExposureOfCommonSharesUnderAEquitySwapAgreement" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="instant"/>
  <xsd:element id="abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreementAmount" name="MaximumExposureOfCommonSharesUnderAEquitySwapAgreementAmount" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_MaximumExposureToCreditRiskOfFinancialLiabilities" name="MaximumExposureToCreditRiskOfFinancialLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="instant"/>
  <xsd:element id="abev_MaximumTermOfEquitySwapAgreement" name="MaximumTermOfEquitySwapAgreement" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_MexicanPesosRiskPortionOfCostExposureMember" name="MexicanPesosRiskPortionOfCostExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_MonthiersSociedadAnonimaMember" name="MonthiersSociedadAnonimaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_NetAccountingProfit" name="NetAccountingProfit" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_NetFinanceCostRelatedPartyTransactions" name="NetFinanceCostRelatedPartyTransactions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NetIncomeReservesFiscalIncentiveMember" name="NetIncomeReservesFiscalIncentiveMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NetIncomeReservesInterestOnCapitalAndDividendsProposedMember" name="NetIncomeReservesInterestOnCapitalAndDividendsProposedMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NetIncomeReservesInvestmentReserveMember" name="NetIncomeReservesInvestmentReserveMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NetIncomeReservesMember" name="NetIncomeReservesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NetIncomeReservesStatutoryReserveMember" name="NetIncomeReservesStatutoryReserveMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_NetInterestOnPensionPlans" name="NetInterestOnPensionPlans" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_NetProceedsAcquisitionOfOtherAssets" name="NetProceedsAcquisitionOfOtherAssets" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_NominalSocialContributionRate" name="NominalSocialContributionRate" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_NoncashItemsAcquisitionOfInvestmentsPayables" name="NoncashItemsAcquisitionOfInvestmentsPayables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_NoncashItemsAcquisitionOfPropertyPlantAndEquipment" name="NoncashItemsAcquisitionOfPropertyPlantAndEquipment" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_NoncashItemsCashFinancingCostOtherThanInterests" name="NoncashItemsCashFinancingCostOtherThanInterests" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_NoncashItemsFederalTaxAmnestyProgram" name="NoncashItemsFederalTaxAmnestyProgram" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_NoncashItemsOthers" name="NoncashItemsOthers" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_NoncashItemsReclassificationOfFinanceCashFlowToOperationalCashFlow" name="NoncashItemsReclassificationOfFinanceCashFlowToOperationalCashFlow" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_NoncontrollingTransactionsGoodwill" name="NoncontrollingTransactionsGoodwill" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_NoncurrentRecoverablesFromIncomeTaxAndSocialContributions" name="NoncurrentRecoverablesFromIncomeTaxAndSocialContributions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="abev_NonrecurringFinanceCosts" name="NonrecurringFinanceCosts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_NormalizedEBITDA" name="NormalizedEBITDA" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_NormalizedEBITDAMarginInPercentage" name="NormalizedEBITDAMarginInPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NorthLatinAmericaSegmentBrazilBeerOperationsMember" name="NorthLatinAmericaSegmentBrazilBeerOperationsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NorthLatinAmericaSegmentBrazilCashGeneratingUnitMember" name="NorthLatinAmericaSegmentBrazilCashGeneratingUnitMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NorthLatinAmericaSegmentBrazilMember" name="NorthLatinAmericaSegmentBrazilMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" name="NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember" name="NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NorthLatinAmericaSegmentCubaCashGeneratingUnitMember" name="NorthLatinAmericaSegmentCubaCashGeneratingUnitMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NorthLatinAmericaSegmentDominicanRepublicCashgeneratingUnitMember" name="NorthLatinAmericaSegmentDominicanRepublicCashgeneratingUnitMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NorthLatinAmericaSegmentMember" name="NorthLatinAmericaSegmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NorthLatinAmericaSegmentPanamaCashgeneratingUnitMember" name="NorthLatinAmericaSegmentPanamaCashgeneratingUnitMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NoteToFinancialStatementDetailsTextual" name="NoteToFinancialStatementDetailsTextual" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NotesToFinancialStatements" name="NotesToFinancialStatements" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NotesToFinancialStatementsAbstract" name="NotesToFinancialStatementsAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_NovoSolSpentInPeruMember" name="NovoSolSpentInPeruMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_NumberOfOtherNewEquityInstrumentsIntroducedInSharebasedPaymentArrangement" name="NumberOfOtherNewEquityInstrumentsIntroducedInSharebasedPaymentArrangement" nillable="true" substitutionGroup="xbrli:item" type="xbrli:decimalItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_NumberOfShareOptionsVestedInSharebasedPaymentArrangement" name="NumberOfShareOptionsVestedInSharebasedPaymentArrangement" nillable="true" substitutionGroup="xbrli:item" type="xbrli:decimalItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_OtherCommitmentsHeld" name="OtherCommitmentsHeld" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="abev_OtherExceptionalItems" name="OtherExceptionalItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_OtherLongTermEmployeeBenefitLiabilities" name="OtherLongTermEmployeeBenefitLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_OtherPortionsOfOtherOperatingIncomeExpense" name="OtherPortionsOfOtherOperatingIncomeExpense" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_OtherTradePayablesRelatedPartyTransactions" name="OtherTradePayablesRelatedPartyTransactions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_OtherTradeReceivablesRelatedPartyTransactions" name="OtherTradeReceivablesRelatedPartyTransactions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_OtherUnsecuredLoansMember" name="OtherUnsecuredLoansMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_PISAndCOFINSTaxContingentLiabilityMember" name="PISAndCOFINSTaxContingentLiabilityMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_PanamaHoldingMember" name="PanamaHoldingMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_PartialExerciseOfPutOptionForFurtherOwnershipOfSubsidiaryMember" name="PartialExerciseOfPutOptionForFurtherOwnershipOfSubsidiaryMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_PaymentsForDebtsNetOfTaxIncentives" name="PaymentsForDebtsNetOfTaxIncentives" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_PaymentsOnNetOfFinanceCostsOtherThanInterests" name="PaymentsOnNetOfFinanceCostsOtherThanInterests" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_PaymentsToASubsidiaryForCompletionOf3rdPartyLicensingTransaction" name="PaymentsToASubsidiaryForCompletionOf3rdPartyLicensingTransaction" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption" name="PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_PercentageOfOwnershipHeldByARelatedParty" name="PercentageOfOwnershipHeldByARelatedParty" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="abev_PercentageOfReasonablyPossibleIncreaseDecreaseInActuarialAssumption" name="PercentageOfReasonablyPossibleIncreaseDecreaseInActuarialAssumption" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_PesoColombianoSpentInColombiaMember" name="PesoColombianoSpentInColombiaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_PlaintiffAmountSought" name="PlaintiffAmountSought" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_PlanAssetsCashMember" name="PlanAssetsCashMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_PlanAssetsCorporateBondsMember" name="PlanAssetsCorporateBondsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_PlanAssetsEquityInstrumentsMember" name="PlanAssetsEquityInstrumentsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_PlanAssetsGovernmentBondsMember" name="PlanAssetsGovernmentBondsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_PlanAssetsOfDefinedBenefitPlanComponentPercentage" name="PlanAssetsOfDefinedBenefitPlanComponentPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_PlanAssetsOthersMember" name="PlanAssetsOthersMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_PlanAssetsPropertyMember" name="PlanAssetsPropertyMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_PlantAndEquipmentMember" name="PlantAndEquipmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_PostfixedInterestPosthedgedValue" name="PostfixedInterestPosthedgedValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_PostfixedInterestPrehedgedValue" name="PostfixedInterestPrehedgedValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_PostfixedInterestRatePosthedged" name="PostfixedInterestRatePosthedged" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="abev_PostfixedInterestRatePrehedged" name="PostfixedInterestRatePrehedged" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="abev_PrescribedDividends" name="PrescribedDividends" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_PresetInterestPosthedgedValue" name="PresetInterestPosthedgedValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_PresetInterestPrehedgedValue" name="PresetInterestPrehedgedValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element id="abev_PresetInterestRatePosthedged" name="PresetInterestRatePosthedged" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="abev_PresetInterestRatePrehedged" name="PresetInterestRatePrehedged" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="abev_ProfitAllocationSharebasedPaymentsAllocationOptionFive" name="ProfitAllocationSharebasedPaymentsAllocationOptionFive" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_ProfitAllocationSharebasedPaymentsAllocationOptionFour" name="ProfitAllocationSharebasedPaymentsAllocationOptionFour" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_ProfitAllocationSharebasedPaymentsAllocationOptionOne" name="ProfitAllocationSharebasedPaymentsAllocationOptionOne" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_ProfitAllocationSharebasedPaymentsAllocationOptionThree" name="ProfitAllocationSharebasedPaymentsAllocationOptionThree" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_ProfitAllocationSharebasedPaymentsAllocationOptionTwo" name="ProfitAllocationSharebasedPaymentsAllocationOptionTwo" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_ProfitLossBeforeWorkingCapitalChangesAndUseOfProvisions" name="ProfitLossBeforeWorkingCapitalChangesAndUseOfProvisions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_PropertyPlantAndEquipmentUsefulLife" name="PropertyPlantAndEquipmentUsefulLife" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ProvisionForIncomeTaxMember" name="ProvisionForIncomeTaxMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ProvisionsForLaborMember" name="ProvisionsForLaborMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_PutOptionsMember" name="PutOptionsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_QuetzalSpentInGuatemalaMember" name="QuetzalSpentInGuatemalaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage" name="RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_ReaisDebenturesRelatedToCDIMember" name="ReaisDebenturesRelatedToCDIMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ReaisDebtMember" name="ReaisDebtMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ReaisDebtRelatedToICMSMember" name="ReaisDebtRelatedToICMSMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_ReclassificationNetDefinedBenefitLiabilityAsset" name="ReclassificationNetDefinedBenefitLiabilityAsset" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_RemainingRequiredMonthlyPaymentsUnderTheFederalTaxAmnestyProgram" name="RemainingRequiredMonthlyPaymentsUnderTheFederalTaxAmnestyProgram" nillable="true" substitutionGroup="xbrli:item" type="xbrli:integerItemType" xbrli:periodType="instant"/>
  <xsd:element id="abev_ReserveOfCarryingValueAdjustments" name="ReserveOfCarryingValueAdjustments" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant"/>
  <xsd:element id="abev_RetainedEarningsBasisForDividendsAndDestinations" name="RetainedEarningsBasisForDividendsAndDestinations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_RetireesMember" name="RetireesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting" name="ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_RioDeJaneiroMember" name="RioDeJaneiroMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_RoyaltiesAndBenefitsRelatedPartyTransactions" name="RoyaltiesAndBenefitsRelatedPartyTransactions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_RupeeRiskPortionOfTheExpensesExposureMember" name="RupeeRiskPortionOfTheExpensesExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_SalesDiscounts" name="SalesDiscounts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_ScenarioUnspecifiedDomain" name="ScenarioUnspecifiedDomain" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_SecuredBankLoansMember" name="SecuredBankLoansMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_SouthLatinAmericaSegmentArgentinaCashgeneratingUnitMember" name="SouthLatinAmericaSegmentArgentinaCashgeneratingUnitMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_SouthLatinAmericaSegmentBoliviaCashgeneratingUnitMember" name="SouthLatinAmericaSegmentBoliviaCashgeneratingUnitMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_SouthLatinAmericaSegmentChileCashgeneratingUnitMember" name="SouthLatinAmericaSegmentChileCashgeneratingUnitMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_SouthLatinAmericaSegmentMember" name="SouthLatinAmericaSegmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_SouthLatinAmericaSegmentParaguayCashgeneratingUnitMember" name="SouthLatinAmericaSegmentParaguayCashgeneratingUnitMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_SouthLatinAmericaSegmentUruguayCashgeneratingUnitMember" name="SouthLatinAmericaSegmentUruguayCashgeneratingUnitMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_StateOfMinasGeraisAndRioDeJaneiroMember" name="StateOfMinasGeraisAndRioDeJaneiroMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_StateOfMinasGeraisMember" name="StateOfMinasGeraisMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_StatementLineItems" name="StatementLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_StatementScenarioAxis" name="StatementScenarioAxis" nillable="true" substitutionGroup="xbrldt:dimensionItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_StatementTable" name="StatementTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_StatesOfSoPauloRioDeJaneiroMinasGeraisAndOtherStatesMember" name="StatesOfSoPauloRioDeJaneiroMinasGeraisAndOtherStatesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_StatutoryReserveLimitOfCapitalStock" name="StatutoryReserveLimitOfCapitalStock" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_StatutoryReserveLimitPercentageOfNetIncome" name="StatutoryReserveLimitPercentageOfNetIncome" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_StatutoryReserveSupplementationCutoffPercentageRelatedToCapitalStock" name="StatutoryReserveSupplementationCutoffPercentageRelatedToCapitalStock" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember" name="StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_SucosDoBemMember" name="SucosDoBemMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_SuperiorCourtOfJusticeAndTheBrazilianSupremeCourtMember" name="SuperiorCourtOfJusticeAndTheBrazilianSupremeCourtMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TJLPBNDESDenominatedDebtMember" name="TJLPBNDESDenominatedDebtMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_TaxAssessmentFromTaxBody" name="TaxAssessmentFromTaxBody" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_TaxContingentLiabilityRelatedToExpensesMember" name="TaxContingentLiabilityRelatedToExpensesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TaxContingentLiabilityRelatedToTaxesPaidAbroadMember" name="TaxContingentLiabilityRelatedToTaxesPaidAbroadMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TaxContingentLiabilityRelatingToIpiExciseTaxesMember" name="TaxContingentLiabilityRelatingToIpiExciseTaxesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TaxContingentLiabilityRelatingToManausFreeTradeZoneZfmMember" name="TaxContingentLiabilityRelatingToManausFreeTradeZoneZfmMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_TaxEffectFromSharingResultsOfJointVentures" name="TaxEffectFromSharingResultsOfJointVentures" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_TaxEffectOfDeductibleInterestOfShareholdersEquity" name="TaxEffectOfDeductibleInterestOfShareholdersEquity" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_TaxEffectOfGovernmentGrantsRelatedToSalesTaxes" name="TaxEffectOfGovernmentGrantsRelatedToSalesTaxes" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration"/>
  <xsd:element id="abev_TaxEffectOfIntragroupTransactions" name="TaxEffectOfIntragroupTransactions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_TaxEffectOfRegionalIncentives" name="TaxEffectOfRegionalIncentives" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_TaxEffectOfTheFederalTaxAmnestyProgram" name="TaxEffectOfTheFederalTaxAmnestyProgram" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_TaxEffectOfWithholdingTaxOverUndistributedProfits" name="TaxEffectOfWithholdingTaxOverUndistributedProfits" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_TaxImpactOfDeductibleInterestInNetEquity" name="TaxImpactOfDeductibleInterestInNetEquity" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element id="abev_TaxLossesWithoutLimitation" name="TaxLossesWithoutLimitation" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="instant"/>
  <xsd:element id="abev_TaxRateEffectOfTaxLossesAndSocialContributions" name="TaxRateEffectOfTaxLossesAndSocialContributions" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TemporaryDifferencesDerivativesMember" name="TemporaryDifferencesDerivativesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TemporaryDifferencesEmployeeBenefitsMember" name="TemporaryDifferencesEmployeeBenefitsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TemporaryDifferencesIntangibleAssetsMember" name="TemporaryDifferencesIntangibleAssetsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TemporaryDifferencesInventoriesMember" name="TemporaryDifferencesInventoriesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TemporaryDifferencesInvestmentSecuritiesMember" name="TemporaryDifferencesInvestmentSecuritiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TemporaryDifferencesInvestmentsInAssociatesMember" name="TemporaryDifferencesInvestmentsInAssociatesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TemporaryDifferencesOtherItemsMember" name="TemporaryDifferencesOtherItemsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TemporaryDifferencesPropertyPlantAndEquipmentMember" name="TemporaryDifferencesPropertyPlantAndEquipmentMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TemporaryDifferencesProvisionsMember" name="TemporaryDifferencesProvisionsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TemporaryDifferencesTradePayablesMember" name="TemporaryDifferencesTradePayablesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TemporaryDifferencesTradeReceivableMember" name="TemporaryDifferencesTradeReceivableMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember" name="TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_TotalAmountConsideredUnderTheFederalTaxAmnestyProgram" name="TotalAmountConsideredUnderTheFederalTaxAmnestyProgram" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_TotalCashExposureMember" name="TotalCashExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_TotalChangesRelatedToDeferredIncomeTaxAndSocialContributionsAffectingTheBalanceSheet" name="TotalChangesRelatedToDeferredIncomeTaxAndSocialContributionsAffectingTheBalanceSheet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TotalContingentProvisionsMember" name="TotalContingentProvisionsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TotalCostExposureMember" name="TotalCostExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TotalDebtsExposureMember" name="TotalDebtsExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_TotalDividendsPaid" name="TotalDividendsPaid" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TotalEquityExposureMember" name="TotalEquityExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TotalExpensesExposureMember" name="TotalExpensesExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_TotalExposureLiabilities" name="TotalExposureLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_TotalFinancialRiskExposureMember" name="TotalFinancialRiskExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TotalFixedAssetExposureMember" name="TotalFixedAssetExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TotalForeignInvestmentsExposureMember" name="TotalForeignInvestmentsExposureMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_TotalOfDividendsAndInterestOnCapital" name="TotalOfDividendsAndInterestOnCapital" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TotalRiskExposuresMember" name="TotalRiskExposuresMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_TradePayablesAndPutOptionGrantedOnSubsidiaryAndOtherLiabilitiesMember" name="TradePayablesAndPutOptionGrantedOnSubsidiaryAndOtherLiabilitiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_TradePayablesRelatedPartyTransactions" name="TradePayablesRelatedPartyTransactions" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant"/>
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  <xsd:element id="abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis" name="TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_TreasurySharesAcquiredRealizedDuringThePeriod" name="TreasurySharesAcquiredRealizedDuringThePeriod" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_TreasurySharesAcquiredrealizedDuringThePeriodAmount" name="TreasurySharesAcquiredrealizedDuringThePeriodAmount" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
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  <xsd:element id="abev_TreasurySharesChangeDuringThePeriodValue" name="TreasurySharesChangeDuringThePeriodValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration"/>
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  <xsd:element id="abev_TriggerClausePercentageCreditRisk" name="TriggerClausePercentageCreditRisk" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
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  <xsd:element abstract="true" id="abev_TwoHealthCarePlansFromFundacaoZerrennerMember" name="TwoHealthCarePlansFromFundacaoZerrennerMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_USDollarsSpentInEcuadorPanamaAndCubaMember" name="USDollarsSpentInEcuadorPanamaAndCubaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
  <xsd:element id="abev_UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage" name="UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant"/>
  <xsd:element id="abev_UnrecognisedTaxLossesAndTemporaryDifferences" name="UnrecognisedTaxLossesAndTemporaryDifferences" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:periodType="instant"/>
  <xsd:element abstract="true" id="abev_UnsecuredBankLoansMember" name="UnsecuredBankLoansMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration"/>
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  <xsd:element id="abev_ValueAtRiskRemoteScenarioDeteriorationPercentage" name="ValueAtRiskRemoteScenarioDeteriorationPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration"/>
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  <xsd:element abstract="true" id="abev_statement-statement-note-13-property-plant-and-equipment-reconciliation-of-changes-in-property-plant-and-equipment-details" name="statement-statement-note-13-property-plant-and-equipment-reconciliation-of-changes-in-property-plant-and-equipment-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
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  <xsd:element abstract="true" id="abev_statement-statement-note-14-goodwill-changes-in-the-period-details" name="statement-statement-note-14-goodwill-changes-in-the-period-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
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  <xsd:element abstract="true" id="abev_statement-statement-note-14-goodwill-weighted-average-cost-of-capital-details" name="statement-statement-note-14-goodwill-weighted-average-cost-of-capital-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
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  <xsd:element abstract="true" id="abev_statement-statement-note-15-intangible-reconciliation-of-changes-in-intangible-assets-details" name="statement-statement-note-15-intangible-reconciliation-of-changes-in-intangible-assets-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
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  <xsd:element abstract="true" id="abev_statement-statement-note-17-deferred-income-tax-and-social-contribution-applied-rates-details" name="statement-statement-note-17-deferred-income-tax-and-social-contribution-applied-rates-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
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  <xsd:element abstract="true" id="abev_statement-statement-note-17-deferred-income-tax-and-social-contribution-net-change-in-deferred-income-tax-and-social-contribution-details" name="statement-statement-note-17-deferred-income-tax-and-social-contribution-net-change-in-deferred-income-tax-and-social-contribution-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-17-deferred-income-tax-and-social-contribution-tables" name="statement-statement-note-17-deferred-income-tax-and-social-contribution-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
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  <xsd:element abstract="true" id="abev_statement-statement-note-18-inventories-tables" name="statement-statement-note-18-inventories-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-19-trade-receivables-aging-of-our-current-trade-receivables-details" name="statement-statement-note-19-trade-receivables-aging-of-our-current-trade-receivables-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-19-trade-receivables-current-trade-receivables-details" name="statement-statement-note-19-trade-receivables-current-trade-receivables-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-19-trade-receivables-tables" name="statement-statement-note-19-trade-receivables-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-20-cash-and-cash-equivalents-components-of-cash-and-cash-equivalents-details" name="statement-statement-note-20-cash-and-cash-equivalents-components-of-cash-and-cash-equivalents-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-20-cash-and-cash-equivalents-tables" name="statement-statement-note-20-cash-and-cash-equivalents-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-21-changes-in-equity-basis-for-dividends-details" name="statement-statement-note-21-changes-in-equity-basis-for-dividends-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-21-changes-in-equity-calculation-of-earnings-per-share-details" name="statement-statement-note-21-changes-in-equity-calculation-of-earnings-per-share-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-21-changes-in-equity-capital-reserves-details" name="statement-statement-note-21-changes-in-equity-capital-reserves-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-21-changes-in-equity-capital-stock-details" name="statement-statement-note-21-changes-in-equity-capital-stock-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-21-changes-in-equity-carrying-value-adjustments-details" name="statement-statement-note-21-changes-in-equity-carrying-value-adjustments-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-21-changes-in-equity-diluted-earnings-details" name="statement-statement-note-21-changes-in-equity-diluted-earnings-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-21-changes-in-equity-interest-on-shareholders-equitydividends-details" name="statement-statement-note-21-changes-in-equity-interest-on-shareholders-equitydividends-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-21-changes-in-equity-net-income-reserves-details" name="statement-statement-note-21-changes-in-equity-net-income-reserves-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-21-changes-in-equity-tables" name="statement-statement-note-21-changes-in-equity-tables" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-21-changes-in-equity-treasury-shares-details" name="statement-statement-note-21-changes-in-equity-treasury-shares-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-22-interestbearing-loans-and-borrowings-debt-interest-rates-details" name="statement-statement-note-22-interestbearing-loans-and-borrowings-debt-interest-rates-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-22-interestbearing-loans-and-borrowings-liabilities-details" name="statement-statement-note-22-interestbearing-loans-and-borrowings-liabilities-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
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  <xsd:element abstract="true" id="abev_statement-statement-note-22-interestbearing-loans-and-borrowings-terms-and-debt-repayment-schedule-details" name="statement-statement-note-22-interestbearing-loans-and-borrowings-terms-and-debt-repayment-schedule-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-23-employee-benefits-actuarial-assumptions-details" name="statement-statement-note-23-employee-benefits-actuarial-assumptions-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-23-employee-benefits-asset-ceiling-details" name="statement-statement-note-23-employee-benefits-asset-ceiling-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
  <xsd:element abstract="true" id="abev_statement-statement-note-23-employee-benefits-defined-benefit-obligation-details" name="statement-statement-note-23-employee-benefits-defined-benefit-obligation-details" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration"/>
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    <link:label xlink:label="abev_StatementScenarioAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario [Axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_StatementScenarioAxis" xlink:to="abev_StatementScenarioAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ScenarioUnspecifiedDomain" xlink:label="abev_ScenarioUnspecifiedDomain" xlink:type="locator"/>
    <link:label xlink:label="abev_ScenarioUnspecifiedDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Scenario, Unspecified [Domain]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ScenarioUnspecifiedDomain" xlink:to="abev_ScenarioUnspecifiedDomain-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_StatementTable" xlink:label="abev_StatementTable" xlink:type="locator"/>
    <link:label xlink:label="abev_StatementTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement Table [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_StatementTable" xlink:to="abev_StatementTable-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_StatementLineItems" xlink:label="abev_StatementLineItems" xlink:type="locator"/>
    <link:label xlink:label="abev_StatementLineItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement Line Items [Line Items]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_StatementLineItems" xlink:to="abev_StatementLineItems-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:label="abev_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfSignificantAccountingPoliciesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discloure of Significant Accounting Policies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfSignificantAccountingPoliciesAbstract" xlink:to="abev_DisclosureOfSignificantAccountingPoliciesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory" xlink:label="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of depreciation and amortisation expense [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities</link:label>
    <link:label xlink:label="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Repayment of borrowings</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DocumentAndEntityInformation" xlink:label="abev_DocumentAndEntityInformation" xlink:type="locator"/>
    <link:label xlink:label="abev_DocumentAndEntityInformation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document And Entity Information</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DocumentAndEntityInformation" xlink:to="abev_DocumentAndEntityInformation-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from borrowings</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NoteToFinancialStatementDetailsTextual" xlink:label="abev_NoteToFinancialStatementDetailsTextual" xlink:type="locator"/>
    <link:label xlink:label="abev_NoteToFinancialStatementDetailsTextual-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note To Financial Statement Details Textual</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NoteToFinancialStatementDetailsTextual" xlink:to="abev_NoteToFinancialStatementDetailsTextual-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-significant-accounting-policies-policies" xlink:label="abev_statement-statement-significant-accounting-policies-policies" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-significant-accounting-policies-policies-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Significant Accounting Policies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-significant-accounting-policies-policies" xlink:to="abev_statement-statement-significant-accounting-policies-policies-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PaymentsOfFinanceLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:label="ifrs-full_PaymentsOfFinanceLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PaymentsOfFinanceLeaseLiabilitiesClassifiedAsFinancingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_PaymentsOfFinanceLeaseLiabilitiesClassifiedAsFinancingActivities</link:label>
    <link:label xlink:label="ifrs-full_PaymentsOfFinanceLeaseLiabilitiesClassifiedAsFinancingActivities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payment of finance lease liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PaymentsOfFinanceLeaseLiabilitiesClassifiedAsFinancingActivities" xlink:to="ifrs-full_PaymentsOfFinanceLeaseLiabilitiesClassifiedAsFinancingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TopOfRangeMember" xlink:label="ifrs-full_TopOfRangeMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TopOfRangeMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Top of range [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-3-summary-of-significant-accounting-policies-tables" xlink:label="abev_statement-statement-note-3-summary-of-significant-accounting-policies-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-3-summary-of-significant-accounting-policies-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 3 - Summary of Significant Accounting Policies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-3-summary-of-significant-accounting-policies-tables" xlink:to="abev_statement-statement-note-3-summary-of-significant-accounting-policies-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-5-segment-reporting-tables" xlink:label="abev_statement-statement-note-5-segment-reporting-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-5-segment-reporting-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 5 - Segment Reporting</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-5-segment-reporting-tables" xlink:to="abev_statement-statement-note-5-segment-reporting-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageMember" xlink:label="ifrs-full_WeightedAverageMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WeightedAverageMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageMember" xlink:to="ifrs-full_WeightedAverageMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-6-net-sales-tables" xlink:label="abev_statement-statement-note-6-net-sales-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-6-net-sales-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 6 - Net Sales</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-6-net-sales-tables" xlink:to="abev_statement-statement-note-6-net-sales-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NotionalAmount" xlink:label="ifrs-full_NotionalAmount" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NotionalAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notional value</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotionalAmount" xlink:to="ifrs-full_NotionalAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-7-other-operating-incomeexpenses-tables" xlink:label="abev_statement-statement-note-7-other-operating-incomeexpenses-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-7-other-operating-incomeexpenses-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 7 - Other Operating Income/(Expenses)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-7-other-operating-incomeexpenses-tables" xlink:to="abev_statement-statement-note-7-other-operating-incomeexpenses-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-8-exceptional-items-tables" xlink:label="abev_statement-statement-note-8-exceptional-items-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-8-exceptional-items-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 8 - Exceptional Items</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-8-exceptional-items-tables" xlink:to="abev_statement-statement-note-8-exceptional-items-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FixedInterestRateMember" xlink:label="ifrs-full_FixedInterestRateMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FixedInterestRateMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed interest rate [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FixedInterestRateMember" xlink:to="ifrs-full_FixedInterestRateMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-9-payroll-and-related-benefits-tables" xlink:label="abev_statement-statement-note-9-payroll-and-related-benefits-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-9-payroll-and-related-benefits-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 9 - Payroll and Related Benefits</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-9-payroll-and-related-benefits-tables" xlink:to="abev_statement-statement-note-9-payroll-and-related-benefits-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FloatingInterestRateMember" xlink:label="ifrs-full_FloatingInterestRateMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FloatingInterestRateMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Floating interest rate [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FloatingInterestRateMember" xlink:to="ifrs-full_FloatingInterestRateMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CashFlowsFromUsedInInvestingActivities</link:label>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash flow from investing activities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RangesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ranges [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangesMember" xlink:to="ifrs-full_RangesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-10-additional-information-on-operating-expenses-by-nature-tables" xlink:label="abev_statement-statement-note-10-additional-information-on-operating-expenses-by-nature-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-10-additional-information-on-operating-expenses-by-nature-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 10 - Additional Information on Operating Expenses by Nature</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-10-additional-information-on-operating-expenses-by-nature-tables" xlink:to="abev_statement-statement-note-10-additional-information-on-operating-expenses-by-nature-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RangeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-11-finance-cost-and-income-tables" xlink:label="abev_statement-statement-note-11-finance-cost-and-income-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-11-finance-cost-and-income-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 11 - Finance Cost and Income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-11-finance-cost-and-income-tables" xlink:to="abev_statement-statement-note-11-finance-cost-and-income-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-12-income-tax-and-social-contribution-tables" xlink:label="abev_statement-statement-note-12-income-tax-and-social-contribution-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-12-income-tax-and-social-contribution-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 12 - Income Tax and Social Contribution</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-12-income-tax-and-social-contribution-tables" xlink:to="abev_statement-statement-note-12-income-tax-and-social-contribution-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-13-property-plant-and-equipment-tables" xlink:label="abev_statement-statement-note-13-property-plant-and-equipment-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-13-property-plant-and-equipment-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 13 - Property, Plant and Equipment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-13-property-plant-and-equipment-tables" xlink:to="abev_statement-statement-note-13-property-plant-and-equipment-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-14-goodwill-tables" xlink:label="abev_statement-statement-note-14-goodwill-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-14-goodwill-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 14 - Goodwill</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-14-goodwill-tables" xlink:to="abev_statement-statement-note-14-goodwill-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestRateTypesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate types [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestRateTypesMember" xlink:to="ifrs-full_InterestRateTypesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-15-intangible-tables" xlink:label="abev_statement-statement-note-15-intangible-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-15-intangible-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 15 - Intangible</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-15-intangible-tables" xlink:to="abev_statement-statement-note-15-intangible-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfInterestRatesAxis" xlink:label="ifrs-full_TypesOfInterestRatesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TypesOfInterestRatesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of interest rates [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_TypesOfInterestRatesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-16-investment-securities-tables" xlink:label="abev_statement-statement-note-16-investment-securities-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-16-investment-securities-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 16 - Investment Securities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-16-investment-securities-tables" xlink:to="abev_statement-statement-note-16-investment-securities-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-17-deferred-income-tax-and-social-contribution-tables" xlink:label="abev_statement-statement-note-17-deferred-income-tax-and-social-contribution-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-17-deferred-income-tax-and-social-contribution-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 17 - Deferred Income Tax and Social Contribution</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-17-deferred-income-tax-and-social-contribution-tables" xlink:to="abev_statement-statement-note-17-deferred-income-tax-and-social-contribution-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MaximumExposureToCreditRisk" xlink:label="ifrs-full_MaximumExposureToCreditRisk" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_MaximumExposureToCreditRisk-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaximumExposureToCreditRisk" xlink:to="ifrs-full_MaximumExposureToCreditRisk-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-18-inventories-tables" xlink:label="abev_statement-statement-note-18-inventories-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-18-inventories-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 18 - Inventories</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-18-inventories-tables" xlink:to="abev_statement-statement-note-18-inventories-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about borrowings [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment in short term debt securities and net proceeds/(acquisition) of debt securities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments" xlink:to="ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-19-trade-receivables-tables" xlink:label="abev_statement-statement-note-19-trade-receivables-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-19-trade-receivables-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 19 - Trade Receivables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-19-trade-receivables-tables" xlink:to="abev_statement-statement-note-19-trade-receivables-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-20-cash-and-cash-equivalents-tables" xlink:label="abev_statement-statement-note-20-cash-and-cash-equivalents-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-20-cash-and-cash-equivalents-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 20 - Cash and Cash Equivalents</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-20-cash-and-cash-equivalents-tables" xlink:to="abev_statement-statement-note-20-cash-and-cash-equivalents-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-21-changes-in-equity-tables" xlink:label="abev_statement-statement-note-21-changes-in-equity-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-21-changes-in-equity-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 21 - Changes in Equity</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-21-changes-in-equity-tables" xlink:to="abev_statement-statement-note-21-changes-in-equity-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-22-interestbearing-loans-and-borrowings-tables" xlink:label="abev_statement-statement-note-22-interestbearing-loans-and-borrowings-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-22-interestbearing-loans-and-borrowings-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 22 - Interest-bearing Loans and Borrowings</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-22-interestbearing-loans-and-borrowings-tables" xlink:to="abev_statement-statement-note-22-interestbearing-loans-and-borrowings-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-23-employee-benefits-tables" xlink:label="abev_statement-statement-note-23-employee-benefits-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-23-employee-benefits-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 23 - Employee Benefits</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-23-employee-benefits-tables" xlink:to="abev_statement-statement-note-23-employee-benefits-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-24-sharebased-payments-tables" xlink:label="abev_statement-statement-note-24-sharebased-payments-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-24-sharebased-payments-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 24 - Share-based Payments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-24-sharebased-payments-tables" xlink:to="abev_statement-statement-note-24-sharebased-payments-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets</link:label>
    <link:label xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisition of property, plant and equipment and intangible assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-25-trade-payables-tables" xlink:label="abev_statement-statement-note-25-trade-payables-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-25-trade-payables-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 25 - Trade Payables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-25-trade-payables-tables" xlink:to="abev_statement-statement-note-25-trade-payables-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-26-provisions-tables" xlink:label="abev_statement-statement-note-26-provisions-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-26-provisions-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 26 - Provisions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-26-provisions-tables" xlink:to="abev_statement-statement-note-26-provisions-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about financial instruments [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-27-financial-instruments-and-risks-tables" xlink:label="abev_statement-statement-note-27-financial-instruments-and-risks-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-27-financial-instruments-and-risks-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 27 - Financial Instruments and Risks</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-27-financial-instruments-and-risks-tables" xlink:to="abev_statement-statement-note-27-financial-instruments-and-risks-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:label="ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from sale of property, plant and equipment and intangible assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets" xlink:to="ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-28-operating-leases-tables" xlink:label="abev_statement-statement-note-28-operating-leases-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-28-operating-leases-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 28 - Operating Leases</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-28-operating-leases-tables" xlink:to="abev_statement-statement-note-28-operating-leases-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-29-collateral-and-contractual-commitments-with-suppliers-advances-from-customers-and-other-tables" xlink:label="abev_statement-statement-note-29-collateral-and-contractual-commitments-with-suppliers-advances-from-customers-and-other-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-29-collateral-and-contractual-commitments-with-suppliers-advances-from-customers-and-other-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 29 - Collateral and Contractual Commitments with Suppliers, Advances From Customers and Other</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-29-collateral-and-contractual-commitments-with-suppliers-advances-from-customers-and-other-tables" xlink:to="abev_statement-statement-note-29-collateral-and-contractual-commitments-with-suppliers-advances-from-customers-and-other-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-30-contingent-liability-tables" xlink:label="abev_statement-statement-note-30-contingent-liability-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-30-contingent-liability-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 30 - Contingent Liability</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-30-contingent-liability-tables" xlink:to="abev_statement-statement-note-30-contingent-liability-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-31-noncash-items-tables" xlink:label="abev_statement-statement-note-31-noncash-items-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-31-noncash-items-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 31 - Non-cash Items</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-31-noncash-items-tables" xlink:to="abev_statement-statement-note-31-noncash-items-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-32-related-parties-tables" xlink:label="abev_statement-statement-note-32-related-parties-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-32-related-parties-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 32 - Related Parties</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-32-related-parties-tables" xlink:to="abev_statement-statement-note-32-related-parties-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-33-group-companies-tables" xlink:label="abev_statement-statement-note-33-group-companies-tables" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-33-group-companies-tables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 33 - Group Companies</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-33-group-companies-tables" xlink:to="abev_statement-statement-note-33-group-companies-tables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-3-summary-of-significant-accounting-policies-significant-exchange-rates-details" xlink:label="abev_statement-statement-note-3-summary-of-significant-accounting-policies-significant-exchange-rates-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-3-summary-of-significant-accounting-policies-significant-exchange-rates-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 3 - Summary of Significant Accounting Policies - Significant Exchange Rates (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-3-summary-of-significant-accounting-policies-significant-exchange-rates-details" xlink:to="abev_statement-statement-note-3-summary-of-significant-accounting-policies-significant-exchange-rates-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-3-summary-of-significant-accounting-policies-useful-lives-of-major-property-plant-and-equipment-details" xlink:label="abev_statement-statement-note-3-summary-of-significant-accounting-policies-useful-lives-of-major-property-plant-and-equipment-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-3-summary-of-significant-accounting-policies-useful-lives-of-major-property-plant-and-equipment-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 3 - Summary of Significant Accounting Policies - Useful Lives of Major Property, Plant and Equipment (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-3-summary-of-significant-accounting-policies-useful-lives-of-major-property-plant-and-equipment-details" xlink:to="abev_statement-statement-note-3-summary-of-significant-accounting-policies-useful-lives-of-major-property-plant-and-equipment-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfHedgesAxis" xlink:label="ifrs-full_TypesOfHedgesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TypesOfHedgesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of hedges [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfHedgesAxis" xlink:to="ifrs-full_TypesOfHedgesAxis-label" xlink:type="arc"/>
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    <link:label xlink:label="abev_statement-statement-note-5-segment-reporting-reportable-segments-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 5 - Segment Reporting - Reportable Segments (Details)</link:label>
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    <link:label xlink:label="abev_statement-statement-note-18-inventories-schedule-of-inventory-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 18 - Inventories - Schedule of Inventory (Details)</link:label>
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    <link:label xlink:label="abev_statement-statement-note-19-trade-receivables-current-trade-receivables-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 19 - Trade Receivables - Current Trade Receivables (Details)</link:label>
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    <link:label xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition of property, plant and equipment</link:label>
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    <link:label xlink:label="abev_statement-statement-note-19-trade-receivables-aging-of-our-current-trade-receivables-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 19 - Trade Receivables - Aging of Our Current Trade Receivables (Details)</link:label>
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    <link:label xlink:label="abev_statement-statement-note-20-cash-and-cash-equivalents-components-of-cash-and-cash-equivalents-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 20 - Cash and Cash Equivalents - Components of Cash and Cash Equivalents (Details)</link:label>
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    <link:label xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities</link:label>
    <link:label xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisition of subsidiaries, net of cash acquired</link:label>
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    <link:label xlink:label="abev_statement-statement-note-21-changes-in-equity-capital-stock-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 21 - Changes in Equity - Capital Stock (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-21-changes-in-equity-capital-stock-details" xlink:to="abev_statement-statement-note-21-changes-in-equity-capital-stock-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from sale of subsidiaries operations</link:label>
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    <link:label xlink:label="ifrs-full_OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities</link:label>
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    <link:label xlink:label="abev_statement-statement-note-21-changes-in-equity-capital-reserves-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 21 - Changes in Equity - Capital Reserves (Details)</link:label>
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    <link:label xlink:label="abev_statement-statement-note-21-changes-in-equity-treasury-shares-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 21 - Changes in Equity - Treasury Shares (Details)</link:label>
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    <link:label xlink:label="abev_statement-statement-note-21-changes-in-equity-net-income-reserves-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 21 - Changes in Equity - Net Income Reserves (Details)</link:label>
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    <link:label xlink:label="abev_statement-statement-note-21-changes-in-equity-carrying-value-adjustments-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 21 - Changes in Equity - Carrying Value Adjustments (Details)</link:label>
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    <link:label xlink:label="abev_statement-statement-note-21-changes-in-equity-diluted-earnings-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 21 - Changes in Equity - Diluted Earnings (Details)</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-22-interestbearing-loans-and-borrowings-terms-and-debt-repayment-schedule-details" xlink:to="abev_statement-statement-note-22-interestbearing-loans-and-borrowings-terms-and-debt-repayment-schedule-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-23-employee-benefits-net-liability-for-defined-benefit-plans-details" xlink:label="abev_statement-statement-note-23-employee-benefits-net-liability-for-defined-benefit-plans-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-23-employee-benefits-net-liability-for-defined-benefit-plans-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 23 - Employee Benefits - Net Liability for Defined Benefit Plans (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-23-employee-benefits-net-liability-for-defined-benefit-plans-details" xlink:to="abev_statement-statement-note-23-employee-benefits-net-liability-for-defined-benefit-plans-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-23-employee-benefits-defined-benefit-obligation-details" xlink:label="abev_statement-statement-note-23-employee-benefits-defined-benefit-obligation-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-23-employee-benefits-defined-benefit-obligation-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 23 - Employee Benefits - Defined Benefit Obligation (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-23-employee-benefits-defined-benefit-obligation-details" xlink:to="abev_statement-statement-note-23-employee-benefits-defined-benefit-obligation-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-23-employee-benefits-plan-assets-details" xlink:label="abev_statement-statement-note-23-employee-benefits-plan-assets-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-23-employee-benefits-plan-assets-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 23 - Employee Benefits - Plan Assets (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-23-employee-benefits-plan-assets-details" xlink:to="abev_statement-statement-note-23-employee-benefits-plan-assets-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-23-employee-benefits-asset-ceiling-details" xlink:label="abev_statement-statement-note-23-employee-benefits-asset-ceiling-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-23-employee-benefits-asset-ceiling-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 23 - Employee Benefits - Asset Ceiling (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-23-employee-benefits-asset-ceiling-details" xlink:to="abev_statement-statement-note-23-employee-benefits-asset-ceiling-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-23-employee-benefits-defined-benefit-plans-recognized-in-the-income-statement-details" xlink:label="abev_statement-statement-note-23-employee-benefits-defined-benefit-plans-recognized-in-the-income-statement-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-23-employee-benefits-defined-benefit-plans-recognized-in-the-income-statement-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 23 - Employee Benefits - Defined Benefit Plans Recognized in the Income Statement (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-23-employee-benefits-defined-benefit-plans-recognized-in-the-income-statement-details" xlink:to="abev_statement-statement-note-23-employee-benefits-defined-benefit-plans-recognized-in-the-income-statement-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-23-employee-benefits-employee-benefit-revenueexpenses-allocation-details" xlink:label="abev_statement-statement-note-23-employee-benefits-employee-benefit-revenueexpenses-allocation-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-23-employee-benefits-employee-benefit-revenueexpenses-allocation-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 23 - Employee Benefits - Employee Benefit Revenue/(Expenses) Allocation (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-23-employee-benefits-employee-benefit-revenueexpenses-allocation-details" xlink:to="abev_statement-statement-note-23-employee-benefits-employee-benefit-revenueexpenses-allocation-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-23-employee-benefits-actuarial-assumptions-details" xlink:label="abev_statement-statement-note-23-employee-benefits-actuarial-assumptions-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-23-employee-benefits-actuarial-assumptions-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 23 - Employee Benefits - Actuarial Assumptions (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-23-employee-benefits-actuarial-assumptions-details" xlink:to="abev_statement-statement-note-23-employee-benefits-actuarial-assumptions-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-23-employee-benefits-weighted-principal-assumptions-details" xlink:label="abev_statement-statement-note-23-employee-benefits-weighted-principal-assumptions-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-23-employee-benefits-weighted-principal-assumptions-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 23 - Employee Benefits - Weighted Principal Assumptions (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-23-employee-benefits-weighted-principal-assumptions-details" xlink:to="abev_statement-statement-note-23-employee-benefits-weighted-principal-assumptions-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-23-employee-benefits-plan-assets-components-details" xlink:label="abev_statement-statement-note-23-employee-benefits-plan-assets-components-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-23-employee-benefits-plan-assets-components-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 23 - Employee Benefits - Plan Assets Components (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-23-employee-benefits-plan-assets-components-details" xlink:to="abev_statement-statement-note-23-employee-benefits-plan-assets-components-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-24-sharebased-payments-weighted-average-fair-value-of-the-options-and-assumptions-details" xlink:label="abev_statement-statement-note-24-sharebased-payments-weighted-average-fair-value-of-the-options-and-assumptions-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-24-sharebased-payments-weighted-average-fair-value-of-the-options-and-assumptions-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 24 - Share-based Payments - Weighted Average Fair Value of the Options and Assumptions (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-24-sharebased-payments-weighted-average-fair-value-of-the-options-and-assumptions-details" xlink:to="abev_statement-statement-note-24-sharebased-payments-weighted-average-fair-value-of-the-options-and-assumptions-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-24-sharebased-payments-outstanding-options-details" xlink:label="abev_statement-statement-note-24-sharebased-payments-outstanding-options-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-24-sharebased-payments-outstanding-options-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 24 - Share-based Payments - Outstanding Options (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-24-sharebased-payments-outstanding-options-details" xlink:to="abev_statement-statement-note-24-sharebased-payments-outstanding-options-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-24-sharebased-payments-weighted-average-exercise-price-of-options-details" xlink:label="abev_statement-statement-note-24-sharebased-payments-weighted-average-exercise-price-of-options-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-24-sharebased-payments-weighted-average-exercise-price-of-options-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 24 - Share-based Payments - Weighted Average Exercise Price of Options (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-24-sharebased-payments-weighted-average-exercise-price-of-options-details" xlink:to="abev_statement-statement-note-24-sharebased-payments-weighted-average-exercise-price-of-options-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_InterestPaidClassifiedAsOperatingActivities</link:label>
    <link:label xlink:label="ifrs-full_InterestPaidClassifiedAsOperatingActivities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest paid</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestPaidClassifiedAsOperatingActivities" xlink:to="ifrs-full_InterestPaidClassifiedAsOperatingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-24-sharebased-payments-deferred-shares-details" xlink:label="abev_statement-statement-note-24-sharebased-payments-deferred-shares-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-24-sharebased-payments-deferred-shares-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 24 - Share-based Payments - Deferred Shares (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-24-sharebased-payments-deferred-shares-details" xlink:to="abev_statement-statement-note-24-sharebased-payments-deferred-shares-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendsReceivedClassifiedAsOperatingActivities" xlink:label="ifrs-full_DividendsReceivedClassifiedAsOperatingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DividendsReceivedClassifiedAsOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends received</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsReceivedClassifiedAsOperatingActivities" xlink:to="ifrs-full_DividendsReceivedClassifiedAsOperatingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-25-trade-payables-components-of-trade-payables-details" xlink:label="abev_statement-statement-note-25-trade-payables-components-of-trade-payables-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-25-trade-payables-components-of-trade-payables-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 25 - Trade Payables - Components of Trade Payables (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-25-trade-payables-components-of-trade-payables-details" xlink:to="abev_statement-statement-note-25-trade-payables-components-of-trade-payables-details-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities</link:label>
    <link:label xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Income tax paid</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:to="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-26-provisions-changes-in-provisions-details" xlink:label="abev_statement-statement-note-26-provisions-changes-in-provisions-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-26-provisions-changes-in-provisions-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 26 - Provisions - Changes in Provisions (Details)</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:label="ifrs-full_InterestReceivedClassifiedAsOperatingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestReceivedClassifiedAsOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest received</link:label>
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    <link:label xlink:label="ifrs-full_ProfitLoss-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:label xlink:label="ifrs-full_ProfitLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income</link:label>
    <link:label xlink:label="ifrs-full_ProfitLoss-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
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    <link:label xlink:label="abev_statement-statement-note-26-provisions-disbursement-expectative-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 26 - Provisions - Disbursement Expectative (Details)</link:label>
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    <link:label xlink:label="abev_statement-statement-note-27-financial-instruments-and-risks-transactions-protected-by-derivative-financial-instruments-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 27 - Financial Instruments and Risks - Transactions Protected by Derivative Financial Instruments (Details)</link:label>
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    <link:label xlink:label="ifrs-full_CashFlowsFromUsedInOperations-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash generated from operations</link:label>
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    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-27-financial-instruments-and-risks-notional-and-fair-value-amounts-per-instrument-and-maturity-details" xlink:label="abev_statement-statement-note-27-financial-instruments-and-risks-notional-and-fair-value-amounts-per-instrument-and-maturity-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-27-financial-instruments-and-risks-notional-and-fair-value-amounts-per-instrument-and-maturity-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 27 - Financial Instruments and Risks - Notional and Fair Value Amounts per Instrument and Maturity (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-27-financial-instruments-and-risks-notional-and-fair-value-amounts-per-instrument-and-maturity-details" xlink:to="abev_statement-statement-note-27-financial-instruments-and-risks-notional-and-fair-value-amounts-per-instrument-and-maturity-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-27-financial-instruments-and-risks-financial-instruments-recognized-in-the-financial-statements-details" xlink:label="abev_statement-statement-note-27-financial-instruments-and-risks-financial-instruments-recognized-in-the-financial-statements-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-27-financial-instruments-and-risks-financial-instruments-recognized-in-the-financial-statements-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 27 - Financial Instruments and Risks - Financial Instruments Recognized in the Financial Statements (Details)</link:label>
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    <link:label xlink:label="abev_statement-statement-note-27-financial-instruments-and-risks-fair-value-hierarchy-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 27 - Financial Instruments and Risks - Fair Value Hierarchy (Details)</link:label>
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    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-27-financial-instruments-and-risks-reconciliation-of-changes-in-the-categorization-of-level-3-details" xlink:label="abev_statement-statement-note-27-financial-instruments-and-risks-reconciliation-of-changes-in-the-categorization-of-level-3-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-27-financial-instruments-and-risks-reconciliation-of-changes-in-the-categorization-of-level-3-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 27 - Financial Instruments and Risks - Reconciliation of Changes in the Categorization of Level 3 (Details)</link:label>
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    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-28-operating-leases-maturities-details" xlink:label="abev_statement-statement-note-28-operating-leases-maturities-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-28-operating-leases-maturities-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 28 - Operating Leases - Maturities (Details)</link:label>
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    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-29-collateral-and-contractual-commitments-with-suppliers-advances-from-customers-and-other-components-of-collateral-and-commiments-details" xlink:label="abev_statement-statement-note-29-collateral-and-contractual-commitments-with-suppliers-advances-from-customers-and-other-components-of-collateral-and-commiments-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-29-collateral-and-contractual-commitments-with-suppliers-advances-from-customers-and-other-components-of-collateral-and-commiments-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 29 - Collateral and Contractual Commitments with Suppliers, Advances From Customers and Other - Components of Collateral and Commiments (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-29-collateral-and-contractual-commitments-with-suppliers-advances-from-customers-and-other-components-of-collateral-and-commiments-details" xlink:to="abev_statement-statement-note-29-collateral-and-contractual-commitments-with-suppliers-advances-from-customers-and-other-components-of-collateral-and-commiments-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-29-collateral-and-contractual-commitments-with-suppliers-advances-from-customers-and-other-future-contractual-commitments-details" xlink:label="abev_statement-statement-note-29-collateral-and-contractual-commitments-with-suppliers-advances-from-customers-and-other-future-contractual-commitments-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-29-collateral-and-contractual-commitments-with-suppliers-advances-from-customers-and-other-future-contractual-commitments-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 29 - Collateral and Contractual Commitments with Suppliers, Advances From Customers and Other - Future Contractual Commitments (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-29-collateral-and-contractual-commitments-with-suppliers-advances-from-customers-and-other-future-contractual-commitments-details" xlink:to="abev_statement-statement-note-29-collateral-and-contractual-commitments-with-suppliers-advances-from-customers-and-other-future-contractual-commitments-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-30-contingent-liability-estimates-of-amounts-of-possible-losses-details" xlink:label="abev_statement-statement-note-30-contingent-liability-estimates-of-amounts-of-possible-losses-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-30-contingent-liability-estimates-of-amounts-of-possible-losses-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 30 - Contingent Liability - Estimates of Amounts of Possible Losses (Details)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_statement-statement-note-30-contingent-liability-estimates-of-amounts-of-possible-losses-details" xlink:to="abev_statement-statement-note-30-contingent-liability-estimates-of-amounts-of-possible-losses-details-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-31-noncash-items-investment-and-financing-activities-not-involving-cash-details" xlink:label="abev_statement-statement-note-31-noncash-items-investment-and-financing-activities-not-involving-cash-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-31-noncash-items-investment-and-financing-activities-not-involving-cash-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 31 - Non-cash Items - Investment and Financing Activities Not Involving Cash (Details)</link:label>
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    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-32-related-parties-expenses-realted-to-management-members-details" xlink:label="abev_statement-statement-note-32-related-parties-expenses-realted-to-management-members-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-32-related-parties-expenses-realted-to-management-members-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 32 - Related Parties - Expenses Realted to Management Members (Details)</link:label>
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    <link:label xlink:label="abev_statement-statement-note-32-related-parties-transactions-with-related-parties-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 32 - Related Parties - Transactions With Related Parties (Details)</link:label>
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    <link:loc xlink:href="abev-20171231.xsd#abev_statement-statement-note-33-group-companies-main-group-companies-details" xlink:label="abev_statement-statement-note-33-group-companies-main-group-companies-details" xlink:type="locator"/>
    <link:label xlink:label="abev_statement-statement-note-33-group-companies-main-group-companies-details-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note 33 - Group Companies - Main Group Companies (Details)</link:label>
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    <link:label xlink:label="abev_NotesToFinancialStatements-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes To Financial Statements</link:label>
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    <link:label xlink:label="abev_NotesToFinancialStatementsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes To Financial Statements [Abstract]</link:label>
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    <link:label xlink:label="ifrs-full_SegmentsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [axis]</link:label>
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    <link:label xlink:label="ifrs-full_CurrentFinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CurrentFinancialLiabilities</link:label>
    <link:label xlink:label="ifrs-full_CurrentFinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Put option granted on subsidiary and other liabilities</link:label>
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    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LoansAndReceivablesCategoryMember" xlink:to="ifrs-full_LoansAndReceivablesCategoryMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NetForeignExchangeLoss" xlink:label="ifrs-full_NetForeignExchangeLoss" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NetForeignExchangeLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NetForeignExchangeLoss</link:label>
    <link:label xlink:label="ifrs-full_NetForeignExchangeLoss-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Exchange variation</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetForeignExchangeLoss" xlink:to="ifrs-full_NetForeignExchangeLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialLiabilities" xlink:label="ifrs-full_FinancialLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liability</link:label>
    <link:label xlink:label="ifrs-full_FinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total financial liabilities</link:label>
    <link:label xlink:label="ifrs-full_FinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Financial liabilities at December 31, 2016 (i)</link:label>
    <link:label xlink:label="ifrs-full_FinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Financial liabilities at December 31, 2017 (i)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilities" xlink:to="ifrs-full_FinancialLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory" xlink:label="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of effect of changes in foreign exchange rates [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory" xlink:to="ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialAssetsCategoryMember" xlink:label="ifrs-full_FinancialAssetsCategoryMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialAssetsCategoryMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets, category [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsCategoryMember" xlink:to="ifrs-full_FinancialAssetsCategoryMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CategoriesOfFinancialAssetsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Categories of financial assets [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAxis" xlink:to="ifrs-full_CategoriesOfFinancialAssetsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities at fair value through profit and loss (i)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss" xlink:to="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember" xlink:label="ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities at amortised cost, category [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember" xlink:to="ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CategoriesOfFinancialLiabilitiesAxis" xlink:label="ifrs-full_CategoriesOfFinancialLiabilitiesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CategoriesOfFinancialLiabilitiesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Categories of financial liabilities [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CategoriesOfFinancialLiabilitiesAxis" xlink:to="ifrs-full_CategoriesOfFinancialLiabilitiesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities at fair value through profit or loss, category [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember" xlink:to="ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialLiabilitiesCategoryMember" xlink:label="ifrs-full_FinancialLiabilitiesCategoryMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialLiabilitiesCategoryMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities, category [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesCategoryMember" xlink:to="ifrs-full_FinancialLiabilitiesCategoryMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentHeldtomaturityInvestments" xlink:label="ifrs-full_NoncurrentHeldtomaturityInvestments" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentHeldtomaturityInvestments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentHeldtomaturityInvestments</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentHeldtomaturityInvestments-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Non-current investments securities</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentHeldtomaturityInvestments-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment securities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentHeldtomaturityInvestments" xlink:to="ifrs-full_NoncurrentHeldtomaturityInvestments-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfEmployeeBenefitsExplanatory" xlink:label="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of employee benefits [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory" xlink:to="ifrs-full_DisclosureOfEmployeeBenefitsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentFinancialLiabilities" xlink:label="ifrs-full_NoncurrentFinancialLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentFinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Put option granted on subsidiary and other liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentFinancialLiabilities" xlink:to="ifrs-full_NoncurrentFinancialLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="ifrs-full_OtherRelatedPartiesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherRelatedPartiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other related parties [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherRelatedPartiesMember" xlink:to="ifrs-full_OtherRelatedPartiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Categories of related parties [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Liabilities" xlink:label="ifrs-full_Liabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Liabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_Liabilities</link:label>
    <link:label xlink:label="ifrs-full_Liabilities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_Liabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProfitLossBeforeTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income before income tax</link:label>
    <link:label xlink:label="ifrs-full_ProfitLossBeforeTax-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income before income tax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for related parties [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_UnallocatedAmountsMember" xlink:label="ifrs-full_UnallocatedAmountsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_UnallocatedAmountsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unallocated amounts [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnallocatedAmountsMember" xlink:to="ifrs-full_UnallocatedAmountsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OperatingSegmentsMember" xlink:label="ifrs-full_OperatingSegmentsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OperatingSegmentsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating segments [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OperatingSegmentsMember" xlink:to="ifrs-full_OperatingSegmentsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for segment consolidation items [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:to="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:label="ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EliminationOfIntersegmentAmountsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Elimination of intersegment amounts [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EliminationOfIntersegmentAmountsMember" xlink:to="ifrs-full_EliminationOfIntersegmentAmountsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SegmentConsolidationItemsAxis" xlink:label="ifrs-full_SegmentConsolidationItemsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SegmentConsolidationItemsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment consolidation items [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SegmentConsolidationItemsAxis" xlink:to="ifrs-full_SegmentConsolidationItemsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:label="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of entity's operating segments [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory" xlink:to="ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PotentialOrdinaryShareTransactionsMember" xlink:label="ifrs-full_PotentialOrdinaryShareTransactionsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PotentialOrdinaryShareTransactionsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Potential ordinary share transactions [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PotentialOrdinaryShareTransactionsMember" xlink:to="ifrs-full_PotentialOrdinaryShareTransactionsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-adjusting events after reporting period [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NonadjustingEventsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-adjusting events after reporting period [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ifrs-full_NonadjustingEventsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnChangeInValueOfTimeValueOfOptionsNetOfTax" xlink:label="ifrs-full_GainsLossesOnChangeInValueOfTimeValueOfOptionsNetOfTax" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GainsLossesOnChangeInValueOfTimeValueOfOptionsNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment hedge - put option granted on subsidiary</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnChangeInValueOfTimeValueOfOptionsNetOfTax" xlink:to="ifrs-full_GainsLossesOnChangeInValueOfTimeValueOfOptionsNetOfTax-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of events after reporting period [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory" xlink:to="ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Netting by taxable entity, deferred tax liabilities</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Netting by taxable entity, deferred tax assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based payment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions" xlink:label="ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquired shares and result on treasury shares</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions" xlink:to="ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ifrs-full_ComprehensiveIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total comprehensive income</link:label>
    <link:label xlink:label="ifrs-full_ComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total comprehensive income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ComprehensiveIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_OtherComprehensiveIncome</link:label>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive (loss)/income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendsPaid" xlink:label="ifrs-full_DividendsPaid" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DividendsPaid-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DividendsPaid</link:label>
    <link:label xlink:label="ifrs-full_DividendsPaid-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends recognised as distributions to owners</link:label>
    <link:label xlink:label="ifrs-full_DividendsPaid-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends distributed</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaid" xlink:to="ifrs-full_DividendsPaid-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IssueOfEquity" xlink:label="ifrs-full_IssueOfEquity" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IssueOfEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital increase</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssueOfEquity" xlink:to="ifrs-full_IssueOfEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageCostOfCapitalSignificantUnobservableInputsAssets" xlink:label="ifrs-full_WeightedAverageCostOfCapitalSignificantUnobservableInputsAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WeightedAverageCostOfCapitalSignificantUnobservableInputsAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">weighted average cost of capital, goodwill</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageCostOfCapitalSignificantUnobservableInputsAssets" xlink:to="ifrs-full_WeightedAverageCostOfCapitalSignificantUnobservableInputsAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComprehensiveIncomeAbstract" xlink:label="ifrs-full_ComprehensiveIncomeAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ComprehensiveIncomeAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive income:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory" xlink:label="ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:type="locator"/>
    <link:label xlink:label="dei_AmendmentFlag-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AnheuserBuschProcurementMember" xlink:label="abev_AnheuserBuschProcurementMember" xlink:type="locator"/>
    <link:label xlink:label="abev_AnheuserBuschProcurementMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Anheuser-Busch Procurement [Member</link:label>
    <link:label xlink:label="abev_AnheuserBuschProcurementMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the entity Anheuser-Busch Procurement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AnheuserBuschProcurementMember" xlink:to="abev_AnheuserBuschProcurementMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TransfersIntoLevel3OfFairValueHierarchyLiabilities" xlink:label="ifrs-full_TransfersIntoLevel3OfFairValueHierarchyLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TransfersIntoLevel3OfFairValueHierarchyLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition of investments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TransfersIntoLevel3OfFairValueHierarchyLiabilities" xlink:to="ifrs-full_TransfersIntoLevel3OfFairValueHierarchyLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of fair value measurement of liabilities [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementLiabilities" xlink:label="ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Losses recognized in net income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementLiabilities" xlink:to="ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ApplicableTaxRateLaterThanTwoYearsAfterLegislationChanges" xlink:label="abev_ApplicableTaxRateLaterThanTwoYearsAfterLegislationChanges" xlink:type="locator"/>
    <link:label xlink:label="abev_ApplicableTaxRateLaterThanTwoYearsAfterLegislationChanges-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_ApplicableTaxRateLaterThanTwoYearsAfterLegislationChanges</link:label>
    <link:label xlink:label="abev_ApplicableTaxRateLaterThanTwoYearsAfterLegislationChanges-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Applicable tax rate, later than two years after legislation changes</link:label>
    <link:label xlink:label="abev_ApplicableTaxRateLaterThanTwoYearsAfterLegislationChanges-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The applicable income tax rate incorporated later than two years after legislation changes.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ApplicableTaxRateLaterThanTwoYearsAfterLegislationChanges" xlink:to="abev_ApplicableTaxRateLaterThanTwoYearsAfterLegislationChanges-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ApplicableTaxRateFirstTwoYearsAfterLegislationChanges" xlink:label="abev_ApplicableTaxRateFirstTwoYearsAfterLegislationChanges" xlink:type="locator"/>
    <link:label xlink:label="abev_ApplicableTaxRateFirstTwoYearsAfterLegislationChanges-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_ApplicableTaxRateFirstTwoYearsAfterLegislationChanges</link:label>
    <link:label xlink:label="abev_ApplicableTaxRateFirstTwoYearsAfterLegislationChanges-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Applicable tax rate, first two years after legislation changes</link:label>
    <link:label xlink:label="abev_ApplicableTaxRateFirstTwoYearsAfterLegislationChanges-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The applicable income tax rate for the first two years after legislation changes.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ApplicableTaxRateFirstTwoYearsAfterLegislationChanges" xlink:to="abev_ApplicableTaxRateFirstTwoYearsAfterLegislationChanges-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" xlink:type="locator"/>
    <link:label xlink:label="dei_CurrentFiscalYearEndDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of movements in foreign exchange</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentFiscalPeriodFocus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentFiscalYearFocus-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentPeriodEndDate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NominalSocialContributionRate" xlink:label="abev_NominalSocialContributionRate" xlink:type="locator"/>
    <link:label xlink:label="abev_NominalSocialContributionRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_NominalSocialContributionRate</link:label>
    <link:label xlink:label="abev_NominalSocialContributionRate-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nominal social contribution rate</link:label>
    <link:label xlink:label="abev_NominalSocialContributionRate-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The applicable tax rate for social contributions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NominalSocialContributionRate" xlink:to="abev_NominalSocialContributionRate-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_UnrecognisedTaxLossesAndTemporaryDifferences" xlink:label="abev_UnrecognisedTaxLossesAndTemporaryDifferences" xlink:type="locator"/>
    <link:label xlink:label="abev_UnrecognisedTaxLossesAndTemporaryDifferences-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_UnrecognisedTaxLossesAndTemporaryDifferences</link:label>
    <link:label xlink:label="abev_UnrecognisedTaxLossesAndTemporaryDifferences-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognised tax losses and temporary differences</link:label>
    <link:label xlink:label="abev_UnrecognisedTaxLossesAndTemporaryDifferences-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of unused tax losses for which no deferred tax asset is recognised in the statement of financial position and the amount of deductible temporary differences for which no deferred tax asset is recognised in the statement of financial position..</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_UnrecognisedTaxLossesAndTemporaryDifferences" xlink:to="abev_UnrecognisedTaxLossesAndTemporaryDifferences-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentType-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TaxLossesWithoutLimitation" xlink:label="abev_TaxLossesWithoutLimitation" xlink:type="locator"/>
    <link:label xlink:label="abev_TaxLossesWithoutLimitation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TaxLossesWithoutLimitation</link:label>
    <link:label xlink:label="abev_TaxLossesWithoutLimitation-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax losses without limitation</link:label>
    <link:label xlink:label="abev_TaxLossesWithoutLimitation-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of unused tax losses for which no deferred tax asset is recognised and have no carryforward limit.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TaxLossesWithoutLimitation" xlink:to="abev_TaxLossesWithoutLimitation-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentInformationLineItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentInformationLineItems-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentInformationTable" xlink:label="dei_DocumentInformationTable" xlink:type="locator"/>
    <link:label xlink:label="dei_DocumentInformationTable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Table]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationTable" xlink:to="dei_DocumentInformationTable-label" xlink:type="arc"/>
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    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" xlink:type="locator"/>
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    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityVoluntaryFilers-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Voluntary Filers</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfFinanceCostExplanatory" xlink:label="ifrs-full_DisclosureOfFinanceCostExplanatory" xlink:type="locator"/>
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    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityWellKnownSeasonedIssuer-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
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    <link:label xlink:label="ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughOtherChangesIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseThroughOtherChangesIntangibleAssetsOtherThanGoodwill</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Others</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transfers to other assets categories</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MinimumFinanceLeasePaymentsPayable" xlink:label="ifrs-full_MinimumFinanceLeasePaymentsPayable" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_MinimumFinanceLeasePaymentsPayable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating leases maturities</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LeaseAndSubleasePaymentsRecognisedAsExpense" xlink:label="ifrs-full_LeaseAndSubleasePaymentsRecognisedAsExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LeaseAndSubleasePaymentsRecognisedAsExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_LeaseAndSubleasePaymentsRecognisedAsExpense</link:label>
    <link:label xlink:label="ifrs-full_LeaseAndSubleasePaymentsRecognisedAsExpense-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total lease and sublease payments recognised as expense</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeExplanatory" xlink:label="ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeExplanatory" xlink:type="locator"/>
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    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityCentralIndexKey-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
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    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityRegistrantName-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
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    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <link:label xlink:label="dei_EntityDomain-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
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    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <link:label xlink:label="dei_LegalEntityAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialAssetsAtFairValue" xlink:label="ifrs-full_FinancialAssetsAtFairValue" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialAssetsAtFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_FinancialAssetsAtFairValue</link:label>
    <link:label xlink:label="ifrs-full_FinancialAssetsAtFairValue-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"/>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfFinancialAssetsAbstract" xlink:label="ifrs-full_DisclosureOfFinancialAssetsAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfFinancialAssetsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets</link:label>
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    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:type="locator"/>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncomeTaxExpenseContinuingOperations</link:label>
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    <link:label xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Income tax and social contribution expense</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseInNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseInNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseInNetDefinedBenefitLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income from operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_IncreaseDecreaseInNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:type="locator"/>
    <link:label xlink:label="dei_TradingSymbol-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Benefits paid</link:label>
    <link:label xlink:label="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Benefits paid excluding costs of administration</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Others</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition through business combination</link:label>
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    <link:loc xlink:href="abev-20171231.xsd#abev_DefinedBenefitPlansRecognizedFinancialCosts" xlink:label="abev_DefinedBenefitPlansRecognizedFinancialCosts" xlink:type="locator"/>
    <link:label xlink:label="abev_DefinedBenefitPlansRecognizedFinancialCosts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_DefinedBenefitPlansRecognizedFinancialCosts</link:label>
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    <link:label xlink:label="abev_DefinedBenefitPlansRecognizedFinancialCosts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The Financial costs of the net interest on pension plans.</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contributions by employer</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contributions by plan participants</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains and (losses) on settlements or reductions in benefits</link:label>
    <link:label xlink:label="ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">(Gains) losses on settlements and curtailments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchange differences</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling" xlink:label="ifrs-full_GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in asset ceiling excluding amounts included in interest income/(expenses)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling" xlink:to="ifrs-full_GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expected Return excluding interest income</link:label>
    <link:label xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Return on plan assets, net defined benefit liability (asset)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Service cost</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest cost</link:label>
    <link:label xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest Income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of changes in foreign</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_UnusedProvisionReversedOtherProvisions" xlink:label="ifrs-full_UnusedProvisionReversedOtherProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_UnusedProvisionReversedOtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_UnusedProvisionReversedOtherProvisions</link:label>
    <link:label xlink:label="ifrs-full_UnusedProvisionReversedOtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unused provision reversed, other provisions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnusedProvisionReversedOtherProvisions" xlink:to="ifrs-full_UnusedProvisionReversedOtherProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProvisionUsedOtherProvisions" xlink:label="ifrs-full_ProvisionUsedOtherProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProvisionUsedOtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provisions used and reversed</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProvisionUsedOtherProvisions" xlink:to="ifrs-full_ProvisionUsedOtherProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment" xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Others</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment" xlink:to="ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:label="ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisposalsPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposals</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:to="ifrs-full_DisposalsPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transfer to other asset categories</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:to="ifrs-full_DepreciationPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of movements in foreign exchange</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SensitivityAnalysisForEachTypeOfMarketRisk" xlink:label="ifrs-full_SensitivityAnalysisForEachTypeOfMarketRisk" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SensitivityAnalysisForEachTypeOfMarketRisk-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sensitivity analysis for types of market risk [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SensitivityAnalysisForEachTypeOfMarketRisk" xlink:to="ifrs-full_SensitivityAnalysisForEachTypeOfMarketRisk-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainLossOnDesignationOfFinancialInstrumentAsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRisk" xlink:label="ifrs-full_GainLossOnDesignationOfFinancialInstrumentAsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRisk" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GainLossOnDesignationOfFinancialInstrumentAsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRisk-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains on derivative</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainLossOnDesignationOfFinancialInstrumentAsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRisk" xlink:to="ifrs-full_GainLossOnDesignationOfFinancialInstrumentAsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRisk-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherIntangibleAssetsMember" xlink:label="ifrs-full_OtherIntangibleAssetsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherIntangibleAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other intangible assets [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIntangibleAssetsMember" xlink:to="ifrs-full_OtherIntangibleAssetsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnHedgingInstrument" xlink:label="ifrs-full_GainsLossesOnHedgingInstrument" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GainsLossesOnHedgingInstrument-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Losses on hedging instruments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnHedgingInstrument" xlink:to="ifrs-full_GainsLossesOnHedgingInstrument-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComputerSoftwareMember" xlink:label="ifrs-full_ComputerSoftwareMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ComputerSoftwareMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Computer software [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComputerSoftwareMember" xlink:to="ifrs-full_ComputerSoftwareMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ConstructionInProgressMember" xlink:label="ifrs-full_ConstructionInProgressMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ConstructionInProgressMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Construction in progress [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ConstructionInProgressMember" xlink:to="ifrs-full_ConstructionInProgressMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FixturesAndFittingsMember" xlink:label="ifrs-full_FixturesAndFittingsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FixturesAndFittingsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixtures and fittings [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FixturesAndFittingsMember" xlink:to="ifrs-full_FixturesAndFittingsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LandAndBuildingsMember" xlink:label="ifrs-full_LandAndBuildingsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LandAndBuildingsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land and buildings [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LandAndBuildingsMember" xlink:to="ifrs-full_LandAndBuildingsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:label="ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets at fair value through profit or loss</link:label>
    <link:label xlink:label="ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total gains (losses) on financial assets at fair value through profit or loss</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss" xlink:to="ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PropertyPlantAndEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="ifrs-full_PropertyPlantAndEquipmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SwapContractMember" xlink:label="ifrs-full_SwapContractMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SwapContractMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Swap contract [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SwapContractMember" xlink:to="ifrs-full_SwapContractMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DerivativesMember" xlink:label="ifrs-full_DerivativesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DerivativesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DerivativesMember" xlink:to="ifrs-full_DerivativesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ifrs-full_ClassesOfAssetsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GoodwillMember" xlink:label="ifrs-full_GoodwillMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GoodwillMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GoodwillMember" xlink:to="ifrs-full_GoodwillMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfAssetsAxis" xlink:label="ifrs-full_ClassesOfAssetsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfAssetsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of assets [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherContingentLiabilitiesMember" xlink:label="ifrs-full_OtherContingentLiabilitiesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherContingentLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other contingent liabilities [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherContingentLiabilitiesMember" xlink:to="ifrs-full_OtherContingentLiabilitiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:label="ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LegalProceedingsContingentLiabilityMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal proceedings contingent liability [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LegalProceedingsContingentLiabilityMember" xlink:to="ifrs-full_LegalProceedingsContingentLiabilityMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TaxContingentLiabilityMember" xlink:label="ifrs-full_TaxContingentLiabilityMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TaxContingentLiabilityMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax contingent liability [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxContingentLiabilityMember" xlink:to="ifrs-full_TaxContingentLiabilityMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfContingentLiabilitiesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of contingent liabilities [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfContingentLiabilitiesAxis" xlink:to="ifrs-full_ClassesOfContingentLiabilitiesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentMaterialsAndSuppliesToBeConsumedInProductionProcessOrRenderingServices" xlink:label="ifrs-full_CurrentMaterialsAndSuppliesToBeConsumedInProductionProcessOrRenderingServices" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentMaterialsAndSuppliesToBeConsumedInProductionProcessOrRenderingServices-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consumables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentMaterialsAndSuppliesToBeConsumedInProductionProcessOrRenderingServices" xlink:to="ifrs-full_CurrentMaterialsAndSuppliesToBeConsumedInProductionProcessOrRenderingServices-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ContingentLiabilitiesMember" xlink:label="ifrs-full_ContingentLiabilitiesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ContingentLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contingent liabilities [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContingentLiabilitiesMember" xlink:to="ifrs-full_ContingentLiabilitiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WorkInProgress" xlink:label="ifrs-full_WorkInProgress" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WorkInProgress-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Work in progress</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WorkInProgress" xlink:to="ifrs-full_WorkInProgress-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeReceivablesMember" xlink:label="ifrs-full_TradeReceivablesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TradeReceivablesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade receivables [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeReceivablesMember" xlink:to="ifrs-full_TradeReceivablesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialAssetsMember" xlink:label="ifrs-full_FinancialAssetsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets, class [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ifrs-full_FinancialAssetsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfFinancialAssetsAxis" xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of financial assets [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ifrs-full_ClassesOfFinancialAssetsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialLiabilitiesMember" xlink:label="ifrs-full_FinancialLiabilitiesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities, class [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesMember" xlink:to="ifrs-full_FinancialLiabilitiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfFinancialLiabilitiesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of financial liabilities [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:to="ifrs-full_ClassesOfFinancialLiabilitiesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets and goodwill [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="ifrs-full_IntangibleAssetsAndGoodwillMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:label="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of intangible assets and goodwill [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis" xlink:to="ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SpareParts" xlink:label="ifrs-full_SpareParts" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SpareParts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Spare parts and other</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SpareParts" xlink:to="ifrs-full_SpareParts-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinishedGoods" xlink:label="ifrs-full_FinishedGoods" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinishedGoods-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finished goods</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinishedGoods" xlink:to="ifrs-full_FinishedGoods-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RawMaterials" xlink:label="ifrs-full_RawMaterials" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RawMaterials-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Raw material</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RawMaterials" xlink:to="ifrs-full_RawMaterials-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LiabilitiesMember" xlink:label="ifrs-full_LiabilitiesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesMember" xlink:to="ifrs-full_LiabilitiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfLiabilitiesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfLiabilitiesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of liabilities [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfLiabilitiesAxis" xlink:to="ifrs-full_ClassesOfLiabilitiesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets" xlink:label="ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets" xlink:to="ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesAbstract" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinancialLiabilitiesAbstract" xlink:to="ifrs-full_DisclosureOfFinancialLiabilitiesAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialLiabilitiesAtFairValue" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_FinancialLiabilitiesAtFairValue</link:label>
    <link:label xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesAtFairValue" xlink:to="ifrs-full_FinancialLiabilitiesAtFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial instruments [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DisclosureOfFinancialInstrumentsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfFinancialRiskManagementExplanatory" xlink:label="ifrs-full_DisclosureOfFinancialRiskManagementExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfFinancialRiskManagementExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial risk management [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfFinancialRiskManagementExplanatory" xlink:to="ifrs-full_DisclosureOfFinancialRiskManagementExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MiscellaneousOtherProvisionsMember" xlink:label="ifrs-full_MiscellaneousOtherProvisionsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_MiscellaneousOtherProvisionsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Miscellaneous other provisions [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MiscellaneousOtherProvisionsMember" xlink:to="ifrs-full_MiscellaneousOtherProvisionsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember" xlink:label="ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provision for taxes other than income tax [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember" xlink:to="ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of property, plant and equipment [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RestructuringProvisionMember" xlink:label="ifrs-full_RestructuringProvisionMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RestructuringProvisionMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restructuring provision [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RestructuringProvisionMember" xlink:to="ifrs-full_RestructuringProvisionMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LegalProceedingsProvisionMember" xlink:label="ifrs-full_LegalProceedingsProvisionMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LegalProceedingsProvisionMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal proceedings provision [member]</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RetainedEarningsMember" xlink:label="ifrs-full_RetainedEarningsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RetainedEarningsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained earnings [member]</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ReserveOfSharebasedPaymentsMember" xlink:label="ifrs-full_ReserveOfSharebasedPaymentsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ReserveOfSharebasedPaymentsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve of share-based payments [member]</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember" xlink:type="locator"/>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Individual assets or cash-generating units [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis" xlink:to="ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IntangibleAssetsWithIndefiniteUsefulLife" xlink:label="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLife" xlink:type="locator"/>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TreasurySharesMember" xlink:label="ifrs-full_TreasurySharesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TreasurySharesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury shares [member]</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SharePremiumMember" xlink:label="ifrs-full_SharePremiumMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SharePremiumMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share premium [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharePremiumMember" xlink:to="ifrs-full_SharePremiumMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherReservesMember" xlink:label="ifrs-full_OtherReservesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherReservesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other reserves [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReservesMember" xlink:to="ifrs-full_OtherReservesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory" xlink:label="ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of information for cash-generating units [text block]</link:label>
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    <link:label xlink:label="ifrs-full_EquityMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [member]</link:label>
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    <link:label xlink:label="ifrs-full_ComponentsOfEquityAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Components of equity [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_ComponentsOfEquityAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IssuedCapitalMember" xlink:label="ifrs-full_IssuedCapitalMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IssuedCapitalMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Issued capital [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapitalMember" xlink:to="ifrs-full_IssuedCapitalMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:label="ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EquityAttributableToOwnersOfParentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity attributable to owners of parent [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:to="ifrs-full_EquityAttributableToOwnersOfParentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xlink:label="ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xlink:type="locator"/>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:label="ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome" xlink:type="locator"/>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" xlink:type="locator"/>
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    <link:label xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Gains/losses on translation of foreign operations</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:type="locator"/>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TaxEffectOfImpairmentOfGoodwill" xlink:label="ifrs-full_TaxEffectOfImpairmentOfGoodwill" xlink:type="locator"/>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xlink:label="ifrs-full_TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss" xlink:type="locator"/>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_TaxExpenseIncomeAtApplicableTaxRate</link:label>
    <link:label xlink:label="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Tax on financial transactions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate" xlink:to="ifrs-full_TaxExpenseIncomeAtApplicableTaxRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NetDeferredTaxLiabilities" xlink:label="ifrs-full_NetDeferredTaxLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NetDeferredTaxLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities</link:label>
    <link:label xlink:label="ifrs-full_NetDeferredTaxLiabilities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net deferred tax liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDeferredTaxLiabilities" xlink:to="ifrs-full_NetDeferredTaxLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NetDeferredTaxAssets" xlink:label="ifrs-full_NetDeferredTaxAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NetDeferredTaxAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net deferred tax assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDeferredTaxAssets" xlink:to="ifrs-full_NetDeferredTaxAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ExceptionalItems" xlink:label="abev_ExceptionalItems" xlink:type="locator"/>
    <link:label xlink:label="abev_ExceptionalItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exceptional items</link:label>
    <link:label xlink:label="abev_ExceptionalItems-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"/>
    <link:label xlink:label="abev_ExceptionalItems-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exceptional items</link:label>
    <link:label xlink:label="abev_ExceptionalItems-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of exceptional items recorded in the income statement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ExceptionalItems" xlink:to="abev_ExceptionalItems-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_GainsLossesOnOtherExchangeDifferencesOnTranslationNetOfTax" xlink:label="abev_GainsLossesOnOtherExchangeDifferencesOnTranslationNetOfTax" xlink:type="locator"/>
    <link:label xlink:label="abev_GainsLossesOnOtherExchangeDifferencesOnTranslationNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains/losses on translation of other foreign operations</link:label>
    <link:label xlink:label="abev_GainsLossesOnOtherExchangeDifferencesOnTranslationNetOfTax-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The gains (losses) recognised in other comprehensive income on exchange differences on the translation of financial statements of other foreign operations, net of tax.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_GainsLossesOnOtherExchangeDifferencesOnTranslationNetOfTax" xlink:to="abev_GainsLossesOnOtherExchangeDifferencesOnTranslationNetOfTax-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Items that will not be recycled to profit or loss:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_UnusedTaxLossesMember" xlink:label="ifrs-full_UnusedTaxLossesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_UnusedTaxLossesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unused tax losses [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UnusedTaxLossesMember" xlink:to="ifrs-full_UnusedTaxLossesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-controlling interest</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial gain/(losses)</link:label>
    <link:label xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income, net of tax, gains (losses) on revaluation</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NoncurrentRecoverablesFromIncomeTaxAndSocialContributions" xlink:label="abev_NoncurrentRecoverablesFromIncomeTaxAndSocialContributions" xlink:type="locator"/>
    <link:label xlink:label="abev_NoncurrentRecoverablesFromIncomeTaxAndSocialContributions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_NoncurrentRecoverablesFromIncomeTaxAndSocialContributions</link:label>
    <link:label xlink:label="abev_NoncurrentRecoverablesFromIncomeTaxAndSocialContributions-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income tax and social contributions recoverable</link:label>
    <link:label xlink:label="abev_NoncurrentRecoverablesFromIncomeTaxAndSocialContributions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The non-current recoverables from income tax and social contributions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NoncurrentRecoverablesFromIncomeTaxAndSocialContributions" xlink:to="abev_NoncurrentRecoverablesFromIncomeTaxAndSocialContributions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RiskExposureAssociatedWithInstrumentsSharingCharacteristic" xlink:label="ifrs-full_RiskExposureAssociatedWithInstrumentsSharingCharacteristic" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RiskExposureAssociatedWithInstrumentsSharingCharacteristic-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_RiskExposureAssociatedWithInstrumentsSharingCharacteristic</link:label>
    <link:label xlink:label="ifrs-full_RiskExposureAssociatedWithInstrumentsSharingCharacteristic-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk exposure associated with instruments sharing characteristic</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RiskExposureAssociatedWithInstrumentsSharingCharacteristic" xlink:to="ifrs-full_RiskExposureAssociatedWithInstrumentsSharingCharacteristic-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary difference, unused tax losses and unused tax credits [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:to="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity holders of Ambev</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ComprehensiveIncomeAttributableToAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Attributable to</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToAbstract" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory" xlink:label="ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of temporary difference, unused tax losses and unused tax credits [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory" xlink:to="ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary difference, unused tax losses and unused tax credits [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:to="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CurrentRecoverablesFromIncomeTaxAndSocialContributions" xlink:label="abev_CurrentRecoverablesFromIncomeTaxAndSocialContributions" xlink:type="locator"/>
    <link:label xlink:label="abev_CurrentRecoverablesFromIncomeTaxAndSocialContributions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income tax and social contributions recoverable</link:label>
    <link:label xlink:label="abev_CurrentRecoverablesFromIncomeTaxAndSocialContributions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The current recoverables from income tax and social contributions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CurrentRecoverablesFromIncomeTaxAndSocialContributions" xlink:to="abev_CurrentRecoverablesFromIncomeTaxAndSocialContributions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CurrentTaxAndContributionsLiabilitiesNoncurrent" xlink:label="abev_CurrentTaxAndContributionsLiabilitiesNoncurrent" xlink:type="locator"/>
    <link:label xlink:label="abev_CurrentTaxAndContributionsLiabilitiesNoncurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Taxes and contributions payable</link:label>
    <link:label xlink:label="abev_CurrentTaxAndContributionsLiabilitiesNoncurrent-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The non-current amount of current tax liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CurrentTaxAndContributionsLiabilitiesNoncurrent" xlink:to="abev_CurrentTaxAndContributionsLiabilitiesNoncurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ReserveOfCarryingValueAdjustments" xlink:label="abev_ReserveOfCarryingValueAdjustments" xlink:type="locator"/>
    <link:label xlink:label="abev_ReserveOfCarryingValueAdjustments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_ReserveOfCarryingValueAdjustments</link:label>
    <link:label xlink:label="abev_ReserveOfCarryingValueAdjustments-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Carrying value adjustments</link:label>
    <link:label xlink:label="abev_ReserveOfCarryingValueAdjustments-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">A component of equity representing the carrying value adjustments recognised in other comprehensive income and accumulated in equity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ReserveOfCarryingValueAdjustments" xlink:to="abev_ReserveOfCarryingValueAdjustments-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CurrentDividendAndInterestPayables" xlink:label="abev_CurrentDividendAndInterestPayables" xlink:type="locator"/>
    <link:label xlink:label="abev_CurrentDividendAndInterestPayables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends and interest on shareholders&#8217; equity payable</link:label>
    <link:label xlink:label="abev_CurrentDividendAndInterestPayables-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of current dividends and interest payable.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CurrentDividendAndInterestPayables" xlink:to="abev_CurrentDividendAndInterestPayables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfIncomeTaxExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of income tax [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIncomeTaxExplanatory" xlink:to="ifrs-full_DisclosureOfIncomeTaxExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CurrentTaxAndContributionsLiabilitiesCurrent" xlink:label="abev_CurrentTaxAndContributionsLiabilitiesCurrent" xlink:type="locator"/>
    <link:label xlink:label="abev_CurrentTaxAndContributionsLiabilitiesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income tax and social contribution payable</link:label>
    <link:label xlink:label="abev_CurrentTaxAndContributionsLiabilitiesCurrent-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The current amount of current tax liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CurrentTaxAndContributionsLiabilitiesCurrent" xlink:to="abev_CurrentTaxAndContributionsLiabilitiesCurrent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted" xlink:label="ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted</link:label>
    <link:label xlink:label="ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred shares granted during the period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted" xlink:to="ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CarryingValueAdjustmentsMember" xlink:label="abev_CarryingValueAdjustmentsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CarryingValueAdjustmentsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying value adjustments [member]</link:label>
    <link:label xlink:label="abev_CarryingValueAdjustmentsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the carrying value adjustments in the equity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CarryingValueAdjustmentsMember" xlink:to="abev_CarryingValueAdjustmentsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted" xlink:label="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair value of options granted</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted" xlink:to="ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory" xlink:label="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory" xlink:to="ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CostOfSales" xlink:label="ifrs-full_CostOfSales" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CostOfSales-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CostOfSales</link:label>
    <link:label xlink:label="ifrs-full_CostOfSales-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Cost of sales</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CostOfSales" xlink:to="ifrs-full_CostOfSales-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CounterpartiesAxis" xlink:label="ifrs-full_CounterpartiesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CounterpartiesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparties [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CounterpartiesAxis" xlink:to="ifrs-full_CounterpartiesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CountryOfDomicileMember" xlink:label="ifrs-full_CountryOfDomicileMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CountryOfDomicileMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Country of domicile [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CountryOfDomicileMember" xlink:to="ifrs-full_CountryOfDomicileMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CounterpartiesMember" xlink:label="ifrs-full_CounterpartiesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CounterpartiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparties [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CounterpartiesMember" xlink:to="ifrs-full_CounterpartiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative financial instruments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_CurrentDerivativeFinancialLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentDerivativeFinancialAssets" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentDerivativeFinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative financial asset instruments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialAssets" xlink:to="ifrs-full_CurrentDerivativeFinancialAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CachoeiraDeMacacuBebidasLtdaMember" xlink:label="abev_CachoeiraDeMacacuBebidasLtdaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CachoeiraDeMacacuBebidasLtdaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cachoeira de Macacu Bebidas Ltda. [member]</link:label>
    <link:label xlink:label="abev_CachoeiraDeMacacuBebidasLtdaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the entity Cachoeira de Macacu Bebidas Ltda.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CachoeiraDeMacacuBebidasLtdaMember" xlink:to="abev_CachoeiraDeMacacuBebidasLtdaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DescriptionOfCorporateInformationTextBlock" xlink:label="abev_DescriptionOfCorporateInformationTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DescriptionOfCorporateInformationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of corporate information [text block]</link:label>
    <link:label xlink:label="abev_DescriptionOfCorporateInformationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The description of corporate information of the entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DescriptionOfCorporateInformationTextBlock" xlink:to="abev_DescriptionOfCorporateInformationTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_RioDeJaneiroMember" xlink:label="abev_RioDeJaneiroMember" xlink:type="locator"/>
    <link:label xlink:label="abev_RioDeJaneiroMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rio de Janeiro [member]</link:label>
    <link:label xlink:label="abev_RioDeJaneiroMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the information regarding the geographical location of Rio de Janeiro.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_RioDeJaneiroMember" xlink:to="abev_RioDeJaneiroMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AnheuserBuschInBevNvMember" xlink:label="abev_AnheuserBuschInBevNvMember" xlink:type="locator"/>
    <link:label xlink:label="abev_AnheuserBuschInBevNvMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Anheuser-Busch InBev N.V. [member]</link:label>
    <link:label xlink:label="abev_AnheuserBuschInBevNvMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the entity Anheuser-Busch InBev N.V.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AnheuserBuschInBevNvMember" xlink:to="abev_AnheuserBuschInBevNvMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_BrasilKirinIndstriaDeBebidasLtdaMember" xlink:label="abev_BrasilKirinIndstriaDeBebidasLtdaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_BrasilKirinIndstriaDeBebidasLtdaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brasil Kirin Ind&#250;stria de Bebidas Ltda. [member]</link:label>
    <link:label xlink:label="abev_BrasilKirinIndstriaDeBebidasLtdaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the entity Brasil Kirin Ind&#250;stria de Bebidas Ltda.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_BrasilKirinIndstriaDeBebidasLtdaMember" xlink:to="abev_BrasilKirinIndstriaDeBebidasLtdaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentInvestments" xlink:label="ifrs-full_CurrentInvestments" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentInvestments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment securities</link:label>
    <link:label xlink:label="ifrs-full_CurrentInvestments-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Current investments securities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentInvestments" xlink:to="ifrs-full_CurrentInvestments-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity" xlink:label="abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity" xlink:type="locator"/>
    <link:label xlink:label="abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest on own capital</link:label>
    <link:label xlink:label="abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Total of Interest on capital</link:label>
    <link:label xlink:label="abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the entity's equity resulting from the change in the shareholder's equity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity" xlink:to="abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity" xlink:label="abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity" xlink:type="locator"/>
    <link:label xlink:label="abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchange transaction of shareholdings</link:label>
    <link:label xlink:label="abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the entity's equity resulting from the change in the stock exchange transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity" xlink:to="abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity" xlink:label="abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity" xlink:type="locator"/>
    <link:label xlink:label="abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Options granted on subsidiary</link:label>
    <link:label xlink:label="abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in equity resulting from the put options granted on subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity" xlink:to="abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IncreaseDecreaseInFiscalIncentiveReserve" xlink:label="abev_IncreaseDecreaseInFiscalIncentiveReserve" xlink:type="locator"/>
    <link:label xlink:label="abev_IncreaseDecreaseInFiscalIncentiveReserve-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fiscal incentive reserve</link:label>
    <link:label xlink:label="abev_IncreaseDecreaseInFiscalIncentiveReserve-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the fiscal incentive reserve.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IncreaseDecreaseInFiscalIncentiveReserve" xlink:to="abev_IncreaseDecreaseInFiscalIncentiveReserve-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentProvisions" xlink:label="ifrs-full_CurrentProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentProvisions-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Provisions</link:label>
    <link:label xlink:label="ifrs-full_CurrentProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CurrentProvisions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentProvisions" xlink:to="ifrs-full_CurrentProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfInsuranceContractsExplanatory" xlink:label="ifrs-full_DisclosureOfInsuranceContractsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfInsuranceContractsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of insurance contracts [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfInsuranceContractsExplanatory" xlink:to="ifrs-full_DisclosureOfInsuranceContractsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IncreaseDecreaseInAdditionalInterestOnShareholdersEquity" xlink:label="abev_IncreaseDecreaseInAdditionalInterestOnShareholdersEquity" xlink:type="locator"/>
    <link:label xlink:label="abev_IncreaseDecreaseInAdditionalInterestOnShareholdersEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Interest on shareholders&#8217; equity</link:label>
    <link:label xlink:label="abev_IncreaseDecreaseInAdditionalInterestOnShareholdersEquity-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in additional Interest on shareholder&#180;s equity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IncreaseDecreaseInAdditionalInterestOnShareholdersEquity" xlink:to="abev_IncreaseDecreaseInAdditionalInterestOnShareholdersEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting" xlink:label="abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting" xlink:type="locator"/>
    <link:label xlink:label="abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reversal effect revaluation of property, plant and equipment under the predecessor basis accounting</link:label>
    <link:label xlink:label="abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reversal effect of revaluation of fixed assets by predecessor</link:label>
    <link:label xlink:label="abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The reversal effect revaluation of fixed assets under the predecessor basis accounting.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting" xlink:to="abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="ifrs-full_TradeAndOtherCurrentPayables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TradeAndOtherCurrentPayables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_TradeAndOtherCurrentPayables</link:label>
    <link:label xlink:label="ifrs-full_TradeAndOtherCurrentPayables-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Current</link:label>
    <link:label xlink:label="ifrs-full_TradeAndOtherCurrentPayables-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade payables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentPayables" xlink:to="ifrs-full_TradeAndOtherCurrentPayables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentMember" xlink:label="ifrs-full_CurrentMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentMember" xlink:to="ifrs-full_CurrentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossReceivablesAndInventories" xlink:label="abev_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossReceivablesAndInventories" xlink:type="locator"/>
    <link:label xlink:label="abev_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossReceivablesAndInventories-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment losses on receivables and inventories</link:label>
    <link:label xlink:label="abev_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossReceivablesAndInventories-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments for impairment loss (reversal of impairment loss) on receivables and inventories recognised in profit or loss to reconcile profit (loss) to net cash flow from (used in) operating activities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossReceivablesAndInventories" xlink:to="abev_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossReceivablesAndInventories-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IncreaseDecreaseInvestmentsReserve" xlink:label="abev_IncreaseDecreaseInvestmentsReserve" xlink:type="locator"/>
    <link:label xlink:label="abev_IncreaseDecreaseInvestmentsReserve-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments reserve</link:label>
    <link:label xlink:label="abev_IncreaseDecreaseInvestmentsReserve-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in investments reserve.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IncreaseDecreaseInvestmentsReserve" xlink:to="abev_IncreaseDecreaseInvestmentsReserve-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:label="ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax</link:label>
    <link:label xlink:label="ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Taxes and contributions payable</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax" xlink:to="ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ProfitLossBeforeWorkingCapitalChangesAndUseOfProvisions" xlink:label="abev_ProfitLossBeforeWorkingCapitalChangesAndUseOfProvisions" xlink:type="locator"/>
    <link:label xlink:label="abev_ProfitLossBeforeWorkingCapitalChangesAndUseOfProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_ProfitLossBeforeWorkingCapitalChangesAndUseOfProvisions</link:label>
    <link:label xlink:label="abev_ProfitLossBeforeWorkingCapitalChangesAndUseOfProvisions-label" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Cash flow from operating activities before changes in working capital and use of provisions</link:label>
    <link:label xlink:label="abev_ProfitLossBeforeWorkingCapitalChangesAndUseOfProvisions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The total of income less expenses, excluding the components of other comprehensive income and before the working capital changes and the use of provisions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ProfitLossBeforeWorkingCapitalChangesAndUseOfProvisions" xlink:to="abev_ProfitLossBeforeWorkingCapitalChangesAndUseOfProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NetProceedsAcquisitionOfOtherAssets" xlink:label="abev_NetProceedsAcquisitionOfOtherAssets" xlink:type="locator"/>
    <link:label xlink:label="abev_NetProceedsAcquisitionOfOtherAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net proceeds/(acquisition) of other assets</link:label>
    <link:label xlink:label="abev_NetProceedsAcquisitionOfOtherAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net proceeds (acquisition) of other assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NetProceedsAcquisitionOfOtherAssets" xlink:to="abev_NetProceedsAcquisitionOfOtherAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AdjustmentsForIncreaseDecreaseInProvisionsAndEmployeeBenefitLiabilities" xlink:label="abev_AdjustmentsForIncreaseDecreaseInProvisionsAndEmployeeBenefitLiabilities" xlink:type="locator"/>
    <link:label xlink:label="abev_AdjustmentsForIncreaseDecreaseInProvisionsAndEmployeeBenefitLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additions/(reversals) in provisions and employee benefits</link:label>
    <link:label xlink:label="abev_AdjustmentsForIncreaseDecreaseInProvisionsAndEmployeeBenefitLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments for increase (decrease) in provisions and employee benefit liabilities to reconcile profit (loss) to net cash flow from (used in) operating activities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AdjustmentsForIncreaseDecreaseInProvisionsAndEmployeeBenefitLiabilities" xlink:to="abev_AdjustmentsForIncreaseDecreaseInProvisionsAndEmployeeBenefitLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AdjustmentsForGainsLossesOnStockExchange" xlink:label="abev_AdjustmentsForGainsLossesOnStockExchange" xlink:type="locator"/>
    <link:label xlink:label="abev_AdjustmentsForGainsLossesOnStockExchange-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains on exchange transaction of shareholdings</link:label>
    <link:label xlink:label="abev_AdjustmentsForGainsLossesOnStockExchange-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Result through exchange transaction of shareholdings(i)</link:label>
    <link:label xlink:label="abev_AdjustmentsForGainsLossesOnStockExchange-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The adjustment for gains (losses) on stock exchanges.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AdjustmentsForGainsLossesOnStockExchange" xlink:to="abev_AdjustmentsForGainsLossesOnStockExchange-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DividendsAndInterestPaidOnShareholdersEquity" xlink:label="abev_DividendsAndInterestPaidOnShareholdersEquity" xlink:type="locator"/>
    <link:label xlink:label="abev_DividendsAndInterestPaidOnShareholdersEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_DividendsAndInterestPaidOnShareholdersEquity</link:label>
    <link:label xlink:label="abev_DividendsAndInterestPaidOnShareholdersEquity-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest on capital paid based on the investment reserve</link:label>
    <link:label xlink:label="abev_DividendsAndInterestPaidOnShareholdersEquity-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The dividends and interest paid on shareholder's equity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DividendsAndInterestPaidOnShareholdersEquity" xlink:to="abev_DividendsAndInterestPaidOnShareholdersEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentPrepayments" xlink:label="ifrs-full_CurrentPrepayments" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentPrepayments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepayments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepayments" xlink:to="ifrs-full_CurrentPrepayments-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CerveceriaNacionalSDeRlMember" xlink:label="abev_CerveceriaNacionalSDeRlMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CerveceriaNacionalSDeRlMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cerveceria Nacional S. de R.L. [member]</link:label>
    <link:label xlink:label="abev_CerveceriaNacionalSDeRlMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the entity Cerveceria Nacional S. de R.L.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CerveceriaNacionalSDeRlMember" xlink:to="abev_CerveceriaNacionalSDeRlMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeMember" xlink:label="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets with indefinite useful life [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeMember" xlink:to="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:label="ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other recoverable taxes</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:to="ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of intangible assets with indefinite useful life [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis" xlink:label="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets with indefinite useful life [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis" xlink:to="ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentTaxExpenseIncome" xlink:label="ifrs-full_CurrentTaxExpenseIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentTaxExpenseIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CurrentTaxExpenseIncome</link:label>
    <link:label xlink:label="ifrs-full_CurrentTaxExpenseIncome-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Income tax expense - current</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxExpenseIncome" xlink:to="ifrs-full_CurrentTaxExpenseIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentTradeReceivables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade receivables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTradeReceivables" xlink:to="ifrs-full_CurrentTradeReceivables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfIntangibleAssetsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of intangible assets [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIntangibleAssetsExplanatory" xlink:to="ifrs-full_DisclosureOfIntangibleAssetsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentTaxLiabilities" xlink:label="ifrs-full_CurrentTaxLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentTaxLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Taxes payable &#8211; nominal rate</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxLiabilities" xlink:to="ifrs-full_CurrentTaxLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfInterestExpenseExplanatory" xlink:label="ifrs-full_DisclosureOfInterestExpenseExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfInterestExpenseExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of interest expense [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfInterestExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfInterestExpenseExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfInterestIncomeExplanatory" xlink:label="ifrs-full_DisclosureOfInterestIncomeExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfInterestIncomeExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of interest income [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfInterestIncomeExplanatory" xlink:to="ifrs-full_DisclosureOfInterestIncomeExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_FairValueOfProfitLossFromALikekindExchangeOfProperty" xlink:label="abev_FairValueOfProfitLossFromALikekindExchangeOfProperty" xlink:type="locator"/>
    <link:label xlink:label="abev_FairValueOfProfitLossFromALikekindExchangeOfProperty-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_FairValueOfProfitLossFromALikekindExchangeOfProperty</link:label>
    <link:label xlink:label="abev_FairValueOfProfitLossFromALikekindExchangeOfProperty-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of profit (loss) from a like-kind exchange of property</link:label>
    <link:label xlink:label="abev_FairValueOfProfitLossFromALikekindExchangeOfProperty-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The fair value of profit (loss) from a like-kind exchange of property.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_FairValueOfProfitLossFromALikekindExchangeOfProperty" xlink:to="abev_FairValueOfProfitLossFromALikekindExchangeOfProperty-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CRBSSAAndAmbevLuxembourgMember" xlink:label="abev_CRBSSAAndAmbevLuxembourgMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CRBSSAAndAmbevLuxembourgMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CRBS S.A. and Ambev Luxembourg [member]</link:label>
    <link:label xlink:label="abev_CRBSSAAndAmbevLuxembourgMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the entities CRBS S.A. and Ambev Luxembourg.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CRBSSAAndAmbevLuxembourgMember" xlink:to="abev_CRBSSAAndAmbevLuxembourgMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_MarkAnthonyGroupMember" xlink:label="abev_MarkAnthonyGroupMember" xlink:type="locator"/>
    <link:label xlink:label="abev_MarkAnthonyGroupMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mark Anthony Group [member]</link:label>
    <link:label xlink:label="abev_MarkAnthonyGroupMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the entity Mark Anthony Group.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_MarkAnthonyGroupMember" xlink:to="abev_MarkAnthonyGroupMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DebtInstrumentsHeld" xlink:label="ifrs-full_DebtInstrumentsHeld" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DebtInstrumentsHeld-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt held-to-maturity (i)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DebtInstrumentsHeld" xlink:to="ifrs-full_DebtInstrumentsHeld-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_LabattBreweriesMember" xlink:label="abev_LabattBreweriesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_LabattBreweriesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Labatt Breweries [member]</link:label>
    <link:label xlink:label="abev_LabattBreweriesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the subsidiary Labatt Breweries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_LabattBreweriesMember" xlink:to="abev_LabattBreweriesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ArchibaldMicrobrasserieMember" xlink:label="abev_ArchibaldMicrobrasserieMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ArchibaldMicrobrasserieMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Archibald Microbrasserie [member]</link:label>
    <link:label xlink:label="abev_ArchibaldMicrobrasserieMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the entity Archibald Microbrasserie.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ArchibaldMicrobrasserieMember" xlink:to="abev_ArchibaldMicrobrasserieMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CanadianDollarsSpentInCanadaAndCubaMember" xlink:label="abev_CanadianDollarsSpentInCanadaAndCubaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CanadianDollarsSpentInCanadaAndCubaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Canadian Dollars spent in Canada and Cuba [member]</link:label>
    <link:label xlink:label="abev_CanadianDollarsSpentInCanadaAndCubaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Canadian Dollars spent in Canada and Cuba.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CanadianDollarsSpentInCanadaAndCubaMember" xlink:to="abev_CanadianDollarsSpentInCanadaAndCubaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DominicanPesosSpentInTheDominicanRepublicMember" xlink:label="abev_DominicanPesosSpentInTheDominicanRepublicMember" xlink:type="locator"/>
    <link:label xlink:label="abev_DominicanPesosSpentInTheDominicanRepublicMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dominican Pesos spent in the Dominican Republic [member]</link:label>
    <link:label xlink:label="abev_DominicanPesosSpentInTheDominicanRepublicMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Dominican Pesos spent in the Dominican Republic.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DominicanPesosSpentInTheDominicanRepublicMember" xlink:to="abev_DominicanPesosSpentInTheDominicanRepublicMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity" xlink:label="abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity" xlink:type="locator"/>
    <link:label xlink:label="abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity</link:label>
    <link:label xlink:label="abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortisation period of intangible assets material to entity</link:label>
    <link:label xlink:label="abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amortisation period of individual intangible assets that are material to the entity&#8217;s financial statements.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity" xlink:to="abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_QuetzalSpentInGuatemalaMember" xlink:label="abev_QuetzalSpentInGuatemalaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_QuetzalSpentInGuatemalaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Quetzal spent in Guatemala [member]</link:label>
    <link:label xlink:label="abev_QuetzalSpentInGuatemalaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Quetzal spent in Guatemala.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_QuetzalSpentInGuatemalaMember" xlink:to="abev_QuetzalSpentInGuatemalaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilityAsset-label" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilityAsset-label" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DeferredTaxLiabilityAsset</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilityAsset-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net deferred tax assets / (liabilities)</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilityAsset-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Deferred Tax Related to Tax Losses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NovoSolSpentInPeruMember" xlink:label="abev_NovoSolSpentInPeruMember" xlink:type="locator"/>
    <link:label xlink:label="abev_NovoSolSpentInPeruMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Novo Sol spent in Peru [member]</link:label>
    <link:label xlink:label="abev_NovoSolSpentInPeruMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Novo Sol spent in Peru.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NovoSolSpentInPeruMember" xlink:to="abev_NovoSolSpentInPeruMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_USDollarsSpentInEcuadorPanamaAndCubaMember" xlink:label="abev_USDollarsSpentInEcuadorPanamaAndCubaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_USDollarsSpentInEcuadorPanamaAndCubaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">US Dollars spent in Ecuador, Panama and Cuba [member]</link:label>
    <link:label xlink:label="abev_USDollarsSpentInEcuadorPanamaAndCubaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding US Dollars spent in Ecuador, Panama and Cuba.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_USDollarsSpentInEcuadorPanamaAndCubaMember" xlink:to="abev_USDollarsSpentInEcuadorPanamaAndCubaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxExpenseIncome" xlink:label="ifrs-full_DeferredTaxExpenseIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DeferredTaxExpenseIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DeferredTaxExpenseIncome</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxExpenseIncome-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Recognized in income statement</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxExpenseIncome-label" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Total deferred tax (expense)/income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncome" xlink:to="ifrs-full_DeferredTaxExpenseIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_BolivianPesoSpentInBoliviaMember" xlink:label="abev_BolivianPesoSpentInBoliviaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_BolivianPesoSpentInBoliviaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bolivian Peso spent in Bolivia [member]</link:label>
    <link:label xlink:label="abev_BolivianPesoSpentInBoliviaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Bolivian Peso spent in Bolivia.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_BolivianPesoSpentInBoliviaMember" xlink:to="abev_BolivianPesoSpentInBoliviaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DeferredTaxLiabilities</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxLiabilities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Gross deferred tax liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ArgentineanPesoSpentInArgentinaMember" xlink:label="abev_ArgentineanPesoSpentInArgentinaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ArgentineanPesoSpentInArgentinaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Argentinean Peso spent in Argentina [member]</link:label>
    <link:label xlink:label="abev_ArgentineanPesoSpentInArgentinaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Argentinean Peso spent in Argentina.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ArgentineanPesoSpentInArgentinaMember" xlink:to="abev_ArgentineanPesoSpentInArgentinaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax expense (income) relating to tax rate changes or imposition of new taxes</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ChileanPesoSpentInChileMember" xlink:label="abev_ChileanPesoSpentInChileMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ChileanPesoSpentInChileMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Chilean Peso spent in Chile [member]</link:label>
    <link:label xlink:label="abev_ChileanPesoSpentInChileMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Chilean Peso spent in Chile.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ChileanPesoSpentInChileMember" xlink:to="abev_ChileanPesoSpentInChileMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_GuaraniSpentInParaguaiMember" xlink:label="abev_GuaraniSpentInParaguaiMember" xlink:type="locator"/>
    <link:label xlink:label="abev_GuaraniSpentInParaguaiMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Guarani spent in Paraguai [member]</link:label>
    <link:label xlink:label="abev_GuaraniSpentInParaguaiMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Guarani spent in Paraguai.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_GuaraniSpentInParaguaiMember" xlink:to="abev_GuaraniSpentInParaguaiMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences</link:label>
    <link:label xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred tax expense on temporary differences</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_UruguayanPesoSpentInUruguayMember" xlink:label="abev_UruguayanPesoSpentInUruguayMember" xlink:type="locator"/>
    <link:label xlink:label="abev_UruguayanPesoSpentInUruguayMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Uruguayan Peso spent in Uruguay [member]</link:label>
    <link:label xlink:label="abev_UruguayanPesoSpentInUruguayMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Uruguayan Peso spent in Uruguay.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_UruguayanPesoSpentInUruguayMember" xlink:to="abev_UruguayanPesoSpentInUruguayMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PropertyPlantAndEquipmentUsefulLife" xlink:label="abev_PropertyPlantAndEquipmentUsefulLife" xlink:type="locator"/>
    <link:label xlink:label="abev_PropertyPlantAndEquipmentUsefulLife-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment, useful life (Year)</link:label>
    <link:label xlink:label="abev_PropertyPlantAndEquipmentUsefulLife-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The useful lives of property, plant and equipment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PropertyPlantAndEquipmentUsefulLife" xlink:to="abev_PropertyPlantAndEquipmentUsefulLife-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DefinedBenefitObligationAtPresentValue</link:label>
    <link:label xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Defined benefit obligation, at present value</link:label>
    <link:label xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue-label" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Present value of net obligations, net</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:to="ifrs-full_DefinedBenefitObligationAtPresentValue-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PesoColombianoSpentInColombiaMember" xlink:label="abev_PesoColombianoSpentInColombiaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_PesoColombianoSpentInColombiaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Peso colombiano spent in Colombia [member]</link:label>
    <link:label xlink:label="abev_PesoColombianoSpentInColombiaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Peso colombiano spent in Colombia.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PesoColombianoSpentInColombiaMember" xlink:to="abev_PesoColombianoSpentInColombiaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_BarbadianDollarSpentInBarbadosMember" xlink:label="abev_BarbadianDollarSpentInBarbadosMember" xlink:type="locator"/>
    <link:label xlink:label="abev_BarbadianDollarSpentInBarbadosMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Barbadian Dollar spent in Barbados [member]</link:label>
    <link:label xlink:label="abev_BarbadianDollarSpentInBarbadosMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Barbadian Dollar spent in Barbados.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_BarbadianDollarSpentInBarbadosMember" xlink:to="abev_BarbadianDollarSpentInBarbadosMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DefinedBenefitPlansMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined benefit plans [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ifrs-full_DefinedBenefitPlansMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendsPaidOrdinaryShares" xlink:label="ifrs-full_DividendsPaidOrdinaryShares" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DividendsPaidOrdinaryShares-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total amount of dividends</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidOrdinaryShares" xlink:to="ifrs-full_DividendsPaidOrdinaryShares-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DefinedBenefitPlansAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined benefit plans [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CurrentTaxAndContributionsLiabilitiesNoncurrentSpecialProgramForTaxRegulation" xlink:label="abev_CurrentTaxAndContributionsLiabilitiesNoncurrentSpecialProgramForTaxRegulation" xlink:type="locator"/>
    <link:label xlink:label="abev_CurrentTaxAndContributionsLiabilitiesNoncurrentSpecialProgramForTaxRegulation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_CurrentTaxAndContributionsLiabilitiesNoncurrentSpecialProgramForTaxRegulation</link:label>
    <link:label xlink:label="abev_CurrentTaxAndContributionsLiabilitiesNoncurrentSpecialProgramForTaxRegulation-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income tax and social contribution payable</link:label>
    <link:label xlink:label="abev_CurrentTaxAndContributionsLiabilitiesNoncurrentSpecialProgramForTaxRegulation-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The non-current amount of current tax liabilities related to a special program for tax regulation.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CurrentTaxAndContributionsLiabilitiesNoncurrentSpecialProgramForTaxRegulation" xlink:to="abev_CurrentTaxAndContributionsLiabilitiesNoncurrentSpecialProgramForTaxRegulation-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendsPaidOrdinarySharesPerShare" xlink:label="ifrs-full_DividendsPaidOrdinarySharesPerShare" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DividendsPaidOrdinarySharesPerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amount per share, dividends (in BRL per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidOrdinarySharesPerShare" xlink:to="ifrs-full_DividendsPaidOrdinarySharesPerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity" xlink:label="abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity" xlink:type="locator"/>
    <link:label xlink:label="abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity</link:label>
    <link:label xlink:label="abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Tax on fictitious dividends</link:label>
    <link:label xlink:label="abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The decrease (increase) in equity resulting from tax on fictitious dividends.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity" xlink:to="abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfInventoriesExplanatory" xlink:label="ifrs-full_DisclosureOfInventoriesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfInventoriesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of inventories [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfInventoriesExplanatory" xlink:to="ifrs-full_DisclosureOfInventoriesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DerivativeFinancialLiabilities" xlink:label="ifrs-full_DerivativeFinancialLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DerivativeFinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives liabilities at fair value through profit or loss</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DerivativeFinancialLiabilities" xlink:to="ifrs-full_DerivativeFinancialLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DerivativeFinancialAssets" xlink:label="ifrs-full_DerivativeFinancialAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DerivativeFinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives assets at fair value through profit or loss</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DerivativeFinancialAssets" xlink:to="ifrs-full_DerivativeFinancialAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfIssuedCapitalExplanatory" xlink:label="ifrs-full_DisclosureOfIssuedCapitalExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfIssuedCapitalExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of issued capital [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfIssuedCapitalExplanatory" xlink:to="ifrs-full_DisclosureOfIssuedCapitalExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for borrowings [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NorthLatinAmericaSegmentMember" xlink:label="abev_NorthLatinAmericaSegmentMember" xlink:type="locator"/>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">North Latin America segment [member]</link:label>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the North Latin America segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NorthLatinAmericaSegmentMember" xlink:to="abev_NorthLatinAmericaSegmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_SouthLatinAmericaSegmentMember" xlink:label="abev_SouthLatinAmericaSegmentMember" xlink:type="locator"/>
    <link:label xlink:label="abev_SouthLatinAmericaSegmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">South Latin America segment [member]</link:label>
    <link:label xlink:label="abev_SouthLatinAmericaSegmentMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the South Latin America segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_SouthLatinAmericaSegmentMember" xlink:to="abev_SouthLatinAmericaSegmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CanadaSegmentMember" xlink:label="abev_CanadaSegmentMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CanadaSegmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Canada segment [member]</link:label>
    <link:label xlink:label="abev_CanadaSegmentMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Canada segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CanadaSegmentMember" xlink:to="abev_CanadaSegmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfReportableSegmentsTextBlock" xlink:label="abev_DisclosureOfReportableSegmentsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfReportableSegmentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of reportable segments [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfReportableSegmentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of reportable segments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfReportableSegmentsTextBlock" xlink:to="abev_DisclosureOfReportableSegmentsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NorthLatinAmericaSegmentBrazilMember" xlink:label="abev_NorthLatinAmericaSegmentBrazilMember" xlink:type="locator"/>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentBrazilMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">North Latin America segment - Brazil [member]</link:label>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentBrazilMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the information regarding the Brazilian portion of the North Latin America segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NorthLatinAmericaSegmentBrazilMember" xlink:to="abev_NorthLatinAmericaSegmentBrazilMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember" xlink:label="abev_NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember" xlink:type="locator"/>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">North Latin America segment - Central America Operations, excluding Latin America South segment [member]</link:label>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the North Latin America segment - Central America Operations, excluding Latin America South segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember" xlink:to="abev_NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NormalizedEBITDA" xlink:label="abev_NormalizedEBITDA" xlink:type="locator"/>
    <link:label xlink:label="abev_NormalizedEBITDA-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Normalized EBITDA(iii)</link:label>
    <link:label xlink:label="abev_NormalizedEBITDA-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount recognized for normalized earnings before interest, taxes, depreciation and amortization.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NormalizedEBITDA" xlink:to="abev_NormalizedEBITDA-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NormalizedEBITDAMarginInPercentage" xlink:label="abev_NormalizedEBITDAMarginInPercentage" xlink:type="locator"/>
    <link:label xlink:label="abev_NormalizedEBITDAMarginInPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Normalized EBITDA margin in %</link:label>
    <link:label xlink:label="abev_NormalizedEBITDAMarginInPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of the normalized earning before before interest, taxes, depreciation and amortization.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NormalizedEBITDAMarginInPercentage" xlink:to="abev_NormalizedEBITDAMarginInPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for derivative financial instruments [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NorthLatinAmericaSegmentBrazilBeerOperationsMember" xlink:label="abev_NorthLatinAmericaSegmentBrazilBeerOperationsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentBrazilBeerOperationsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">North Latin America Segment - Brazil beer operations [member]</link:label>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentBrazilBeerOperationsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Brazilian beer operations in the North Latin American segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NorthLatinAmericaSegmentBrazilBeerOperationsMember" xlink:to="abev_NorthLatinAmericaSegmentBrazilBeerOperationsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" xlink:label="abev_NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">North Latin America segment - Brazil soft drink and non-alcoholic and non-carbonated operations [member]</link:label>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Brazilian soft drink and non-alcoholic and non-carbonated operations in the North Latin America segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember" xlink:to="abev_NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for employee benefits [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfOtherOperatingIncomeExpensePortionsTextBlock" xlink:label="abev_DisclosureOfOtherOperatingIncomeExpensePortionsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfOtherOperatingIncomeExpensePortionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of other operating income (expense) portions [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfOtherOperatingIncomeExpensePortionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the portions of the other operating income (expense) portions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfOtherOperatingIncomeExpensePortionsTextBlock" xlink:to="abev_DisclosureOfOtherOperatingIncomeExpensePortionsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_OtherPortionsOfOtherOperatingIncomeExpense" xlink:label="abev_OtherPortionsOfOtherOperatingIncomeExpense" xlink:type="locator"/>
    <link:label xlink:label="abev_OtherPortionsOfOtherOperatingIncomeExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_OtherPortionsOfOtherOperatingIncomeExpense</link:label>
    <link:label xlink:label="abev_OtherPortionsOfOtherOperatingIncomeExpense-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other operating income/(expenses), net</link:label>
    <link:label xlink:label="abev_OtherPortionsOfOtherOperatingIncomeExpense-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of other operating income (expense) that the entity does not separately disclose in the same statement or note.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_OtherPortionsOfOtherOperatingIncomeExpense" xlink:to="abev_OtherPortionsOfOtherOperatingIncomeExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfTheReconciliationBetweenGrossSalesAndNetSalesTextBlock" xlink:label="abev_DisclosureOfTheReconciliationBetweenGrossSalesAndNetSalesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfTheReconciliationBetweenGrossSalesAndNetSalesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of the reconciliation between gross sales and net sales [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfTheReconciliationBetweenGrossSalesAndNetSalesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the of reconciliation between gross sales and net sales.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfTheReconciliationBetweenGrossSalesAndNetSalesTextBlock" xlink:to="abev_DisclosureOfTheReconciliationBetweenGrossSalesAndNetSalesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_SalesDiscounts" xlink:label="abev_SalesDiscounts" xlink:type="locator"/>
    <link:label xlink:label="abev_SalesDiscounts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_SalesDiscounts</link:label>
    <link:label xlink:label="abev_SalesDiscounts-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Discounts (i)</link:label>
    <link:label xlink:label="abev_SalesDiscounts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of the sales discounts recorded during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_SalesDiscounts" xlink:to="abev_SalesDiscounts-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_OtherExceptionalItems" xlink:label="abev_OtherExceptionalItems" xlink:type="locator"/>
    <link:label xlink:label="abev_OtherExceptionalItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Others</link:label>
    <link:label xlink:label="abev_OtherExceptionalItems-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other exceptional items recognized in the income statement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_OtherExceptionalItems" xlink:to="abev_OtherExceptionalItems-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForExceptionalItemsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForExceptionalItemsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForExceptionalItemsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for exceptional items [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForExceptionalItemsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForExceptionalItemsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfExceptionalItemsTextBlock" xlink:label="abev_DisclosureOfExceptionalItemsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfExceptionalItemsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of exceptional items [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfExceptionalItemsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of exceptional items of the entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfExceptionalItemsTextBlock" xlink:to="abev_DisclosureOfExceptionalItemsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for expenses [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfExceptionalItemsIncludedInTheIncomeStatementTextBlock" xlink:label="abev_DisclosureOfExceptionalItemsIncludedInTheIncomeStatementTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfExceptionalItemsIncludedInTheIncomeStatementTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of exceptional items included in the income statement [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfExceptionalItemsIncludedInTheIncomeStatementTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of exceptional items included in the income statement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfExceptionalItemsIncludedInTheIncomeStatementTextBlock" xlink:to="abev_DisclosureOfExceptionalItemsIncludedInTheIncomeStatementTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for financial instruments [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for functional currency [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfPayrollAndRelatedBenefitsTextBlock" xlink:label="abev_DisclosureOfPayrollAndRelatedBenefitsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfPayrollAndRelatedBenefitsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of payroll and related benefits [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfPayrollAndRelatedBenefitsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of payroll and related benefits of the entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfPayrollAndRelatedBenefitsTextBlock" xlink:to="abev_DisclosureOfPayrollAndRelatedBenefitsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForGoodwillExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForGoodwillExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForGoodwillExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for goodwill [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForGoodwillExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForGoodwillExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfPayrollAndRelatedBenefitsAffectingTheIncomeStatementTextBlock" xlink:label="abev_DisclosureOfPayrollAndRelatedBenefitsAffectingTheIncomeStatementTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfPayrollAndRelatedBenefitsAffectingTheIncomeStatementTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of payroll and related benefits affecting the income statement [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfPayrollAndRelatedBenefitsAffectingTheIncomeStatementTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the payroll and related benefits affecting the income statement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfPayrollAndRelatedBenefitsAffectingTheIncomeStatementTextBlock" xlink:to="abev_DisclosureOfPayrollAndRelatedBenefitsAffectingTheIncomeStatementTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for foreign currency translation [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IncomeTaxExpenseContinuingOperationsExceptionalItems" xlink:label="abev_IncomeTaxExpenseContinuingOperationsExceptionalItems" xlink:type="locator"/>
    <link:label xlink:label="abev_IncomeTaxExpenseContinuingOperationsExceptionalItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_IncomeTaxExpenseContinuingOperationsExceptionalItems</link:label>
    <link:label xlink:label="abev_IncomeTaxExpenseContinuingOperationsExceptionalItems-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax income (expense), exceptional items</link:label>
    <link:label xlink:label="abev_IncomeTaxExpenseContinuingOperationsExceptionalItems-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations regarding exceptional items.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IncomeTaxExpenseContinuingOperationsExceptionalItems" xlink:to="abev_IncomeTaxExpenseContinuingOperationsExceptionalItems-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EmployeeBenefitsExpenseAdministrativeExpenses" xlink:label="abev_EmployeeBenefitsExpenseAdministrativeExpenses" xlink:type="locator"/>
    <link:label xlink:label="abev_EmployeeBenefitsExpenseAdministrativeExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Administrative expenses</link:label>
    <link:label xlink:label="abev_EmployeeBenefitsExpenseAdministrativeExpenses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The portion of employee benefits expense allocated to administrative expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EmployeeBenefitsExpenseAdministrativeExpenses" xlink:to="abev_EmployeeBenefitsExpenseAdministrativeExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForGovernmentGrants" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForGovernmentGrants" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForGovernmentGrants-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for government grants [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForGovernmentGrants" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForGovernmentGrants-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EmployeeBenefitsExpenseExceptionalItems" xlink:label="abev_EmployeeBenefitsExpenseExceptionalItems" xlink:type="locator"/>
    <link:label xlink:label="abev_EmployeeBenefitsExpenseExceptionalItems-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Exceptional item</link:label>
    <link:label xlink:label="abev_EmployeeBenefitsExpenseExceptionalItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_EmployeeBenefitsExpenseExceptionalItems</link:label>
    <link:label xlink:label="abev_EmployeeBenefitsExpenseExceptionalItems-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The portion of employee benefits expense allocated to exceptional items.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EmployeeBenefitsExpenseExceptionalItems" xlink:to="abev_EmployeeBenefitsExpenseExceptionalItems-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_FinanceCostsExceptionalItems" xlink:label="abev_FinanceCostsExceptionalItems" xlink:type="locator"/>
    <link:label xlink:label="abev_FinanceCostsExceptionalItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_FinanceCostsExceptionalItems</link:label>
    <link:label xlink:label="abev_FinanceCostsExceptionalItems-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance costs, exceptional items</link:label>
    <link:label xlink:label="abev_FinanceCostsExceptionalItems-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of costs associated with financing activities of the entity related to exceptional items.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_FinanceCostsExceptionalItems" xlink:to="abev_FinanceCostsExceptionalItems-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EmployeeBenefitsExpenseNetFinanceCosts" xlink:label="abev_EmployeeBenefitsExpenseNetFinanceCosts" xlink:type="locator"/>
    <link:label xlink:label="abev_EmployeeBenefitsExpenseNetFinanceCosts-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net finance cost</link:label>
    <link:label xlink:label="abev_EmployeeBenefitsExpenseNetFinanceCosts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_EmployeeBenefitsExpenseNetFinanceCosts</link:label>
    <link:label xlink:label="abev_EmployeeBenefitsExpenseNetFinanceCosts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The portion of employee benefits expense allocated to net finance costs.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EmployeeBenefitsExpenseNetFinanceCosts" xlink:to="abev_EmployeeBenefitsExpenseNetFinanceCosts-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for income tax [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EmployeeBenefitsExpenseCostOfSales" xlink:label="abev_EmployeeBenefitsExpenseCostOfSales" xlink:type="locator"/>
    <link:label xlink:label="abev_EmployeeBenefitsExpenseCostOfSales-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cost of sales</link:label>
    <link:label xlink:label="abev_EmployeeBenefitsExpenseCostOfSales-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The portion of employee benefits expense allocated to cost of sales.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EmployeeBenefitsExpenseCostOfSales" xlink:to="abev_EmployeeBenefitsExpenseCostOfSales-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_FinanceCostsExcludingNonrecurringFinanceCosts" xlink:label="abev_FinanceCostsExcludingNonrecurringFinanceCosts" xlink:type="locator"/>
    <link:label xlink:label="abev_FinanceCostsExcludingNonrecurringFinanceCosts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_FinanceCostsExcludingNonrecurringFinanceCosts</link:label>
    <link:label xlink:label="abev_FinanceCostsExcludingNonrecurringFinanceCosts-label" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US"/>
    <link:label xlink:label="abev_FinanceCostsExcludingNonrecurringFinanceCosts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of costs associated with financing activities of the entity, excluding non-recurring finance costs.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_FinanceCostsExcludingNonrecurringFinanceCosts" xlink:to="abev_FinanceCostsExcludingNonrecurringFinanceCosts-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NonrecurringFinanceCosts" xlink:label="abev_NonrecurringFinanceCosts" xlink:type="locator"/>
    <link:label xlink:label="abev_NonrecurringFinanceCosts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_NonrecurringFinanceCosts</link:label>
    <link:label xlink:label="abev_NonrecurringFinanceCosts-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Non-recurring finance cost</link:label>
    <link:label xlink:label="abev_NonrecurringFinanceCosts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of nonrecurring costs associated with financing activities of the entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NonrecurringFinanceCosts" xlink:to="abev_NonrecurringFinanceCosts-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EmployeeBenefitsExpenseSalesAndMarketingExpenses" xlink:label="abev_EmployeeBenefitsExpenseSalesAndMarketingExpenses" xlink:type="locator"/>
    <link:label xlink:label="abev_EmployeeBenefitsExpenseSalesAndMarketingExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sales and marketing expenses</link:label>
    <link:label xlink:label="abev_EmployeeBenefitsExpenseSalesAndMarketingExpenses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The portion of employee benefits expense allocated to sales and marketing expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EmployeeBenefitsExpenseSalesAndMarketingExpenses" xlink:to="abev_EmployeeBenefitsExpenseSalesAndMarketingExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for impairment of non-financial assets [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EmployeeBenefitsExpenseDistributionExpenses" xlink:label="abev_EmployeeBenefitsExpenseDistributionExpenses" xlink:type="locator"/>
    <link:label xlink:label="abev_EmployeeBenefitsExpenseDistributionExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution expenses</link:label>
    <link:label xlink:label="abev_EmployeeBenefitsExpenseDistributionExpenses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The portion of employee benefits expense allocated to distribution expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EmployeeBenefitsExpenseDistributionExpenses" xlink:to="abev_EmployeeBenefitsExpenseDistributionExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DepreciationExpenseAdministrativeExpenses" xlink:label="abev_DepreciationExpenseAdministrativeExpenses" xlink:type="locator"/>
    <link:label xlink:label="abev_DepreciationExpenseAdministrativeExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation and impairment of property, plant and equipment, administrative expenses</link:label>
    <link:label xlink:label="abev_DepreciationExpenseAdministrativeExpenses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of depreciation expense allocated to administrative expenses. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DepreciationExpenseAdministrativeExpenses" xlink:to="abev_DepreciationExpenseAdministrativeExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for intangible assets other than goodwill [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TaxImpactOfDeductibleInterestInNetEquity" xlink:label="abev_TaxImpactOfDeductibleInterestInNetEquity" xlink:type="locator"/>
    <link:label xlink:label="abev_TaxImpactOfDeductibleInterestInNetEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TaxImpactOfDeductibleInterestInNetEquity</link:label>
    <link:label xlink:label="abev_TaxImpactOfDeductibleInterestInNetEquity-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax impact of deductible interest in net equity</link:label>
    <link:label xlink:label="abev_TaxImpactOfDeductibleInterestInNetEquity-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The tax impact of deductible interest in net equity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TaxImpactOfDeductibleInterestInNetEquity" xlink:to="abev_TaxImpactOfDeductibleInterestInNetEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DepreciationExpenseCostOfSales" xlink:label="abev_DepreciationExpenseCostOfSales" xlink:type="locator"/>
    <link:label xlink:label="abev_DepreciationExpenseCostOfSales-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation and impairment of property, plant and equipment, cost of sales</link:label>
    <link:label xlink:label="abev_DepreciationExpenseCostOfSales-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of depreciation expense allocated to cost of sales. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DepreciationExpenseCostOfSales" xlink:to="abev_DepreciationExpenseCostOfSales-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestOnNetEquityDeductibleAndToBeDeductible" xlink:label="abev_InterestOnNetEquityDeductibleAndToBeDeductible" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestOnNetEquityDeductibleAndToBeDeductible-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_InterestOnNetEquityDeductibleAndToBeDeductible</link:label>
    <link:label xlink:label="abev_InterestOnNetEquityDeductibleAndToBeDeductible-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest on net equity, deductible and to be deductible</link:label>
    <link:label xlink:label="abev_InterestOnNetEquityDeductibleAndToBeDeductible-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The interest on net equity that is deductible and will be deductible in the future.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestOnNetEquityDeductibleAndToBeDeductible" xlink:to="abev_InterestOnNetEquityDeductibleAndToBeDeductible-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RecognisedFinanceLeaseAsAssets" xlink:label="ifrs-full_RecognisedFinanceLeaseAsAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RecognisedFinanceLeaseAsAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_RecognisedFinanceLeaseAsAssets</link:label>
    <link:label xlink:label="ifrs-full_RecognisedFinanceLeaseAsAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recognised finance lease as assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RecognisedFinanceLeaseAsAssets" xlink:to="ifrs-full_RecognisedFinanceLeaseAsAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DepreciationExpenseSalesAndMarketingExpenses" xlink:label="abev_DepreciationExpenseSalesAndMarketingExpenses" xlink:type="locator"/>
    <link:label xlink:label="abev_DepreciationExpenseSalesAndMarketingExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation and impairment of property, plant and equipment, sales and marketing expenses</link:label>
    <link:label xlink:label="abev_DepreciationExpenseSalesAndMarketingExpenses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of depreciation expense allocated to sales and marketing expenses. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DepreciationExpenseSalesAndMarketingExpenses" xlink:to="abev_DepreciationExpenseSalesAndMarketingExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DepreciationExpenseDistributionExpenses" xlink:label="abev_DepreciationExpenseDistributionExpenses" xlink:type="locator"/>
    <link:label xlink:label="abev_DepreciationExpenseDistributionExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation and impairment of property, plant and equipment, distribution expenses</link:label>
    <link:label xlink:label="abev_DepreciationExpenseDistributionExpenses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of depreciation expense allocated to distribution expenses. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DepreciationExpenseDistributionExpenses" xlink:to="abev_DepreciationExpenseDistributionExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmortisationExpenseDistributionExpenses" xlink:label="abev_AmortisationExpenseDistributionExpenses" xlink:type="locator"/>
    <link:label xlink:label="abev_AmortisationExpenseDistributionExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of intangible assets, distribution expenses</link:label>
    <link:label xlink:label="abev_AmortisationExpenseDistributionExpenses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of amortisation expense allocated to distribution expenses. Amortisation is the systematic allocation of depreciable amounts of intangible assets over their useful lives.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmortisationExpenseDistributionExpenses" xlink:to="abev_AmortisationExpenseDistributionExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for measuring inventories [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmortisationExpenseCostOfSales" xlink:label="abev_AmortisationExpenseCostOfSales" xlink:type="locator"/>
    <link:label xlink:label="abev_AmortisationExpenseCostOfSales-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of intangible assets, cost of sales</link:label>
    <link:label xlink:label="abev_AmortisationExpenseCostOfSales-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of amortisation expense allocated to cost of sales. Amortisation is the systematic allocation of depreciable amounts of intangible assets over their useful lives.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmortisationExpenseCostOfSales" xlink:to="abev_AmortisationExpenseCostOfSales-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for issued capital [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmortisationExpenseAdministrativeExpenses" xlink:label="abev_AmortisationExpenseAdministrativeExpenses" xlink:type="locator"/>
    <link:label xlink:label="abev_AmortisationExpenseAdministrativeExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of intangible assets, administrative expenses</link:label>
    <link:label xlink:label="abev_AmortisationExpenseAdministrativeExpenses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of amortisation expense allocated to administrative expenses. Amortisation is the systematic allocation of depreciable amounts of intangible assets over their useful lives.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmortisationExpenseAdministrativeExpenses" xlink:to="abev_AmortisationExpenseAdministrativeExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for leases [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfLeasesExplanatory" xlink:label="ifrs-full_DisclosureOfLeasesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfLeasesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of leases [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfLeasesExplanatory" xlink:to="ifrs-full_DisclosureOfLeasesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmortisationExpenseSalesAndMarketingExpenses" xlink:label="abev_AmortisationExpenseSalesAndMarketingExpenses" xlink:type="locator"/>
    <link:label xlink:label="abev_AmortisationExpenseSalesAndMarketingExpenses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of intangible assets, sales and marketing expenses</link:label>
    <link:label xlink:label="abev_AmortisationExpenseSalesAndMarketingExpenses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of amortisation expense allocated to sales and marketing expenses. Amortisation is the systematic allocation of depreciable amounts of intangible assets over their useful lives.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmortisationExpenseSalesAndMarketingExpenses" xlink:to="abev_AmortisationExpenseSalesAndMarketingExpenses-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IncomeTaxExpenseContinuingOperationsNonrecurringFedeeralTaxAmenstyProgram" xlink:label="abev_IncomeTaxExpenseContinuingOperationsNonrecurringFedeeralTaxAmenstyProgram" xlink:type="locator"/>
    <link:label xlink:label="abev_IncomeTaxExpenseContinuingOperationsNonrecurringFedeeralTaxAmenstyProgram-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_IncomeTaxExpenseContinuingOperationsNonrecurringFedeeralTaxAmenstyProgram</link:label>
    <link:label xlink:label="abev_IncomeTaxExpenseContinuingOperationsNonrecurringFedeeralTaxAmenstyProgram-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax expense (income), continuing operations, non-recurring, Federal Tax Amnesty Program</link:label>
    <link:label xlink:label="abev_IncomeTaxExpenseContinuingOperationsNonrecurringFedeeralTaxAmenstyProgram-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The aggregate amount (regarding the Federal Tax Amnesty Program) included in the determination of profit (loss) for the period in respect of nonrecurring current tax and deferred tax that relate to continuing operations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IncomeTaxExpenseContinuingOperationsNonrecurringFedeeralTaxAmenstyProgram" xlink:to="abev_IncomeTaxExpenseContinuingOperationsNonrecurringFedeeralTaxAmenstyProgram-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for property, plant and equipment [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IncomeTaxExpenseContinuingOperationsFinancialResultsFederalTaxAmnestyProgram" xlink:label="abev_IncomeTaxExpenseContinuingOperationsFinancialResultsFederalTaxAmnestyProgram" xlink:type="locator"/>
    <link:label xlink:label="abev_IncomeTaxExpenseContinuingOperationsFinancialResultsFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_IncomeTaxExpenseContinuingOperationsFinancialResultsFederalTaxAmnestyProgram</link:label>
    <link:label xlink:label="abev_IncomeTaxExpenseContinuingOperationsFinancialResultsFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax expense (income), continuing operations, financial results, Federal Tax Amnesty Program</link:label>
    <link:label xlink:label="abev_IncomeTaxExpenseContinuingOperationsFinancialResultsFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The aggregate amount (regarding the Federal Tax Amnesty Program) included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations recorded in financial results.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IncomeTaxExpenseContinuingOperationsFinancialResultsFederalTaxAmnestyProgram" xlink:to="abev_IncomeTaxExpenseContinuingOperationsFinancialResultsFederalTaxAmnestyProgram-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NetInterestOnPensionPlans" xlink:label="abev_NetInterestOnPensionPlans" xlink:type="locator"/>
    <link:label xlink:label="abev_NetInterestOnPensionPlans-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_NetInterestOnPensionPlans</link:label>
    <link:label xlink:label="abev_NetInterestOnPensionPlans-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net Interest on pension plans</link:label>
    <link:label xlink:label="abev_NetInterestOnPensionPlans-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net interest on pension plans.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NetInterestOnPensionPlans" xlink:to="abev_NetInterestOnPensionPlans-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestExpenseOnLiabilitiesDesignatedAtFairValueThroughProfitOrLoss" xlink:label="abev_InterestExpenseOnLiabilitiesDesignatedAtFairValueThroughProfitOrLoss" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestExpenseOnLiabilitiesDesignatedAtFairValueThroughProfitOrLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_InterestExpenseOnLiabilitiesDesignatedAtFairValueThroughProfitOrLoss</link:label>
    <link:label xlink:label="abev_InterestExpenseOnLiabilitiesDesignatedAtFairValueThroughProfitOrLoss-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Liabilities at fair value through profit or loss</link:label>
    <link:label xlink:label="abev_InterestExpenseOnLiabilitiesDesignatedAtFairValueThroughProfitOrLoss-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of interest expense on liabilities designated at fair value through profit or loss.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestExpenseOnLiabilitiesDesignatedAtFairValueThroughProfitOrLoss" xlink:to="abev_InterestExpenseOnLiabilitiesDesignatedAtFairValueThroughProfitOrLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TaxEffectOfTheFederalTaxAmnestyProgram" xlink:label="abev_TaxEffectOfTheFederalTaxAmnestyProgram" xlink:type="locator"/>
    <link:label xlink:label="abev_TaxEffectOfTheFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PERT 2017</link:label>
    <link:label xlink:label="abev_TaxEffectOfTheFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The tax effect of the Federal Tax Amnesty Program.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TaxEffectOfTheFederalTaxAmnestyProgram" xlink:to="abev_TaxEffectOfTheFederalTaxAmnestyProgram-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for recognition of revenue [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for provisions [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestExpenseFairValueHedgeOnHedgingInstruments" xlink:label="abev_InterestExpenseFairValueHedgeOnHedgingInstruments" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestExpenseFairValueHedgeOnHedgingInstruments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_InterestExpenseFairValueHedgeOnHedgingInstruments</link:label>
    <link:label xlink:label="abev_InterestExpenseFairValueHedgeOnHedgingInstruments-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Fair value hedge - hedging instruments</link:label>
    <link:label xlink:label="abev_InterestExpenseFairValueHedgeOnHedgingInstruments-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of expense arising from interest from fair values hedges from hedging instruments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestExpenseFairValueHedgeOnHedgingInstruments" xlink:to="abev_InterestExpenseFairValueHedgeOnHedgingInstruments-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestExpenseFairValueHedgeOnHedgedItems" xlink:label="abev_InterestExpenseFairValueHedgeOnHedgedItems" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestExpenseFairValueHedgeOnHedgedItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_InterestExpenseFairValueHedgeOnHedgedItems</link:label>
    <link:label xlink:label="abev_InterestExpenseFairValueHedgeOnHedgedItems-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Fair value hedge - hedged items</link:label>
    <link:label xlink:label="abev_InterestExpenseFairValueHedgeOnHedgedItems-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of expense arising from interest through fair value hedging of hedged items.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestExpenseFairValueHedgeOnHedgedItems" xlink:to="abev_InterestExpenseFairValueHedgeOnHedgedItems-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TaxEffectFromSharingResultsOfJointVentures" xlink:label="abev_TaxEffectFromSharingResultsOfJointVentures" xlink:type="locator"/>
    <link:label xlink:label="abev_TaxEffectFromSharingResultsOfJointVentures-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share of results of joint ventures</link:label>
    <link:label xlink:label="abev_TaxEffectFromSharingResultsOfJointVentures-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to sharing results of joint ventures.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TaxEffectFromSharingResultsOfJointVentures" xlink:to="abev_TaxEffectFromSharingResultsOfJointVentures-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for segment reporting [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfIncomeTaxAndSocialContributionTextBlock" xlink:label="abev_DisclosureOfIncomeTaxAndSocialContributionTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfIncomeTaxAndSocialContributionTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of income tax and social contribution [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfIncomeTaxAndSocialContributionTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure for income tax and social contributions of the entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfIncomeTaxAndSocialContributionTextBlock" xlink:to="abev_DisclosureOfIncomeTaxAndSocialContributionTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amount per share, interest on shareholder&#180;s equity (in BRL per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare" xlink:to="ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for share-based payment transactions [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for trade and other receivables [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for trade and other payables [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AdjustmentOnTaxableBasisAbstract" xlink:label="abev_AdjustmentOnTaxableBasisAbstract" xlink:type="locator"/>
    <link:label xlink:label="abev_AdjustmentOnTaxableBasisAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment on taxable basis</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AdjustmentOnTaxableBasisAbstract" xlink:to="abev_AdjustmentOnTaxableBasisAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:label="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of significant accounting policies [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:to="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TaxEffectOfGovernmentGrantsRelatedToSalesTaxes" xlink:label="abev_TaxEffectOfGovernmentGrantsRelatedToSalesTaxes" xlink:type="locator"/>
    <link:label xlink:label="abev_TaxEffectOfGovernmentGrantsRelatedToSalesTaxes-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Government grants related to sales taxes</link:label>
    <link:label xlink:label="abev_TaxEffectOfGovernmentGrantsRelatedToSalesTaxes-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to the government grants related to sales taxes.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TaxEffectOfGovernmentGrantsRelatedToSalesTaxes" xlink:to="abev_TaxEffectOfGovernmentGrantsRelatedToSalesTaxes-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:label="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for determining components of cash and cash equivalents [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents" xlink:to="ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfReconciliationFromTheWeightedNominalToTheEffectiveTaxRateTextBlock" xlink:label="abev_DisclosureOfReconciliationFromTheWeightedNominalToTheEffectiveTaxRateTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfReconciliationFromTheWeightedNominalToTheEffectiveTaxRateTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of reconciliation from the weighted nominal to the effective tax rate [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfReconciliationFromTheWeightedNominalToTheEffectiveTaxRateTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of Disclosure of reconciliation from the weighted nominal to the effective tax rate for the entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfReconciliationFromTheWeightedNominalToTheEffectiveTaxRateTextBlock" xlink:to="abev_DisclosureOfReconciliationFromTheWeightedNominalToTheEffectiveTaxRateTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NetAccountingProfit" xlink:label="abev_NetAccountingProfit" xlink:type="locator"/>
    <link:label xlink:label="abev_NetAccountingProfit-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_NetAccountingProfit</link:label>
    <link:label xlink:label="abev_NetAccountingProfit-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"/>
    <link:label xlink:label="abev_NetAccountingProfit-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of profit (loss) for a period after deducting tax expense.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NetAccountingProfit" xlink:to="abev_NetAccountingProfit-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TaxEffectOfIntragroupTransactions" xlink:label="abev_TaxEffectOfIntragroupTransactions" xlink:type="locator"/>
    <link:label xlink:label="abev_TaxEffectOfIntragroupTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TaxEffectOfIntragroupTransactions</link:label>
    <link:label xlink:label="abev_TaxEffectOfIntragroupTransactions-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Results of intercompany transactions non-taxable/not deductible in Brazil</link:label>
    <link:label xlink:label="abev_TaxEffectOfIntragroupTransactions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount representing the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to the entity's intragroup transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TaxEffectOfIntragroupTransactions" xlink:to="abev_TaxEffectOfIntragroupTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TaxEffectOfDeductibleInterestOfShareholdersEquity" xlink:label="abev_TaxEffectOfDeductibleInterestOfShareholdersEquity" xlink:type="locator"/>
    <link:label xlink:label="abev_TaxEffectOfDeductibleInterestOfShareholdersEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deductible interest on shareholders' equity</link:label>
    <link:label xlink:label="abev_TaxEffectOfDeductibleInterestOfShareholdersEquity-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to the deductible interest of shareholders equity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TaxEffectOfDeductibleInterestOfShareholdersEquity" xlink:to="abev_TaxEffectOfDeductibleInterestOfShareholdersEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TaxEffectOfRegionalIncentives" xlink:label="abev_TaxEffectOfRegionalIncentives" xlink:type="locator"/>
    <link:label xlink:label="abev_TaxEffectOfRegionalIncentives-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Regional incentives - income taxes</link:label>
    <link:label xlink:label="abev_TaxEffectOfRegionalIncentives-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to regional incentives.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TaxEffectOfRegionalIncentives" xlink:to="abev_TaxEffectOfRegionalIncentives-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AdjustmentOnTaxExpenseAbstract" xlink:label="abev_AdjustmentOnTaxExpenseAbstract" xlink:type="locator"/>
    <link:label xlink:label="abev_AdjustmentOnTaxExpenseAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment on tax expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AdjustmentOnTaxExpenseAbstract" xlink:to="abev_AdjustmentOnTaxExpenseAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TaxEffectOfWithholdingTaxOverUndistributedProfits" xlink:label="abev_TaxEffectOfWithholdingTaxOverUndistributedProfits" xlink:type="locator"/>
    <link:label xlink:label="abev_TaxEffectOfWithholdingTaxOverUndistributedProfits-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Withholding tax over undistributed profits</link:label>
    <link:label xlink:label="abev_TaxEffectOfWithholdingTaxOverUndistributedProfits-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to withholding tax over undistributed profits.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TaxEffectOfWithholdingTaxOverUndistributedProfits" xlink:to="abev_TaxEffectOfWithholdingTaxOverUndistributedProfits-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfIFRSCompliance" xlink:label="ifrs-full_StatementOfIFRSCompliance" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_StatementOfIFRSCompliance-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of IFRS compliance [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfIFRSCompliance" xlink:to="ifrs-full_StatementOfIFRSCompliance-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AcquisitionsThroughStockExchangePropertyPlantAndEquipment" xlink:label="abev_AcquisitionsThroughStockExchangePropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="abev_AcquisitionsThroughStockExchangePropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_AcquisitionsThroughStockExchangePropertyPlantAndEquipment</link:label>
    <link:label xlink:label="abev_AcquisitionsThroughStockExchangePropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisitions through exchange transaction of shareholdings</link:label>
    <link:label xlink:label="abev_AcquisitionsThroughStockExchangePropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase in property, plant and equipment resulting from acquisitions through stock exchange.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AcquisitionsThroughStockExchangePropertyPlantAndEquipment" xlink:to="abev_AcquisitionsThroughStockExchangePropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisposalsThroughStockExchangePropertyPlantAndEquipment" xlink:label="abev_DisposalsThroughStockExchangePropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="abev_DisposalsThroughStockExchangePropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_DisposalsThroughStockExchangePropertyPlantAndEquipment</link:label>
    <link:label xlink:label="abev_DisposalsThroughStockExchangePropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposals through exchange transaction of shareholdings</link:label>
    <link:label xlink:label="abev_DisposalsThroughStockExchangePropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The decrease in property, plant and equipment resulting from acquisitions through stock exchange.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisposalsThroughStockExchangePropertyPlantAndEquipment" xlink:to="abev_DisposalsThroughStockExchangePropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:label="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of trade and other receivables [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:to="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:label="ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of trade and other payables [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory" xlink:to="ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfTreasurySharesExplanatory" xlink:label="ifrs-full_DisclosureOfTreasurySharesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfTreasurySharesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of treasury shares [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTreasurySharesExplanatory" xlink:to="ifrs-full_DisclosureOfTreasurySharesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PlantAndEquipmentMember" xlink:label="abev_PlantAndEquipmentMember" xlink:type="locator"/>
    <link:label xlink:label="abev_PlantAndEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plant and equipment [member]</link:label>
    <link:label xlink:label="abev_PlantAndEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding plant and equipment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PlantAndEquipmentMember" xlink:to="abev_PlantAndEquipmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AccountingProfit" xlink:label="ifrs-full_AccountingProfit" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AccountingProfit-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income before tax</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccountingProfit" xlink:to="ifrs-full_AccountingProfit-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_GoodwillPercentageOfTotalAssets" xlink:label="abev_GoodwillPercentageOfTotalAssets" xlink:type="locator"/>
    <link:label xlink:label="abev_GoodwillPercentageOfTotalAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_GoodwillPercentageOfTotalAssets</link:label>
    <link:label xlink:label="abev_GoodwillPercentageOfTotalAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill percentage of total assets</link:label>
    <link:label xlink:label="abev_GoodwillPercentageOfTotalAssets-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of total assets that make up goodwill.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_GoodwillPercentageOfTotalAssets" xlink:to="abev_GoodwillPercentageOfTotalAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CostToSellRate" xlink:label="abev_CostToSellRate" xlink:type="locator"/>
    <link:label xlink:label="abev_CostToSellRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_CostToSellRate</link:label>
    <link:label xlink:label="abev_CostToSellRate-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost to sell rate</link:label>
    <link:label xlink:label="abev_CostToSellRate-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage amount of the entity value for cost to sell.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CostToSellRate" xlink:to="abev_CostToSellRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees</link:label>
    <link:label xlink:label="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense from share-based payment transactions with employees</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees" xlink:to="ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NorthLatinAmericaSegmentDominicanRepublicCashgeneratingUnitMember" xlink:label="abev_NorthLatinAmericaSegmentDominicanRepublicCashgeneratingUnitMember" xlink:type="locator"/>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentDominicanRepublicCashgeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">North Latin America segment - Dominican Republic, cash-generating unit [member]</link:label>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentDominicanRepublicCashgeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the information regarding the Dominican Republic cash-generating unit of the North Latin America segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NorthLatinAmericaSegmentDominicanRepublicCashgeneratingUnitMember" xlink:to="abev_NorthLatinAmericaSegmentDominicanRepublicCashgeneratingUnitMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TemporaryDifferencesTradePayablesMember" xlink:label="abev_TemporaryDifferencesTradePayablesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TemporaryDifferencesTradePayablesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary differences, trade payables [member]</link:label>
    <link:label xlink:label="abev_TemporaryDifferencesTradePayablesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The temporary differences related to trade payables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TemporaryDifferencesTradePayablesMember" xlink:to="abev_TemporaryDifferencesTradePayablesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NorthLatinAmericaSegmentCubaCashGeneratingUnitMember" xlink:label="abev_NorthLatinAmericaSegmentCubaCashGeneratingUnitMember" xlink:type="locator"/>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentCubaCashGeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">North Latin America segment - Cuba, cash-generating unit [member]</link:label>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentCubaCashGeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the information regarding the Cuban cash-generating unit of the North Latin America segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NorthLatinAmericaSegmentCubaCashGeneratingUnitMember" xlink:to="abev_NorthLatinAmericaSegmentCubaCashGeneratingUnitMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NorthLatinAmericaSegmentBrazilCashGeneratingUnitMember" xlink:label="abev_NorthLatinAmericaSegmentBrazilCashGeneratingUnitMember" xlink:type="locator"/>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentBrazilCashGeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">North Latin America segment - Brazil, cash-generating unit [member]</link:label>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentBrazilCashGeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the information regarding the Brazilian cash-generating unit of the North Latin America segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NorthLatinAmericaSegmentBrazilCashGeneratingUnitMember" xlink:to="abev_NorthLatinAmericaSegmentBrazilCashGeneratingUnitMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember" xlink:label="abev_TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary differences, withholding tax over undistributed profits and royalties [member]</link:label>
    <link:label xlink:label="abev_TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The temporary differences related to withholding tax over undistributed profits and royalties.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember" xlink:to="abev_TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_SouthLatinAmericaSegmentBoliviaCashgeneratingUnitMember" xlink:label="abev_SouthLatinAmericaSegmentBoliviaCashgeneratingUnitMember" xlink:type="locator"/>
    <link:label xlink:label="abev_SouthLatinAmericaSegmentBoliviaCashgeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">South Latin America segment - Bolivia, cash-generating unit [member]</link:label>
    <link:label xlink:label="abev_SouthLatinAmericaSegmentBoliviaCashgeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the information regarding the Bolivian cash-generating unit of the South Latin America segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_SouthLatinAmericaSegmentBoliviaCashgeneratingUnitMember" xlink:to="abev_SouthLatinAmericaSegmentBoliviaCashgeneratingUnitMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_SouthLatinAmericaSegmentChileCashgeneratingUnitMember" xlink:label="abev_SouthLatinAmericaSegmentChileCashgeneratingUnitMember" xlink:type="locator"/>
    <link:label xlink:label="abev_SouthLatinAmericaSegmentChileCashgeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">South Latin America segment - Chile, cash-generating unit [member]</link:label>
    <link:label xlink:label="abev_SouthLatinAmericaSegmentChileCashgeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the information regarding the Chilean cash-generating unit of the South Latin America segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_SouthLatinAmericaSegmentChileCashgeneratingUnitMember" xlink:to="abev_SouthLatinAmericaSegmentChileCashgeneratingUnitMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NorthLatinAmericaSegmentPanamaCashgeneratingUnitMember" xlink:label="abev_NorthLatinAmericaSegmentPanamaCashgeneratingUnitMember" xlink:type="locator"/>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentPanamaCashgeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">North Latin America segment - Panama, cash-generating unit [member]</link:label>
    <link:label xlink:label="abev_NorthLatinAmericaSegmentPanamaCashgeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the information regarding the Panamanian cash-generating unit of the North Latin America segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NorthLatinAmericaSegmentPanamaCashgeneratingUnitMember" xlink:to="abev_NorthLatinAmericaSegmentPanamaCashgeneratingUnitMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ShorttermEmployeeBenefitsAccruals" xlink:label="ifrs-full_ShorttermEmployeeBenefitsAccruals" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ShorttermEmployeeBenefitsAccruals-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ShorttermEmployeeBenefitsAccruals</link:label>
    <link:label xlink:label="ifrs-full_ShorttermEmployeeBenefitsAccruals-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wages and salaries</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermEmployeeBenefitsAccruals" xlink:to="ifrs-full_ShorttermEmployeeBenefitsAccruals-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_SouthLatinAmericaSegmentArgentinaCashgeneratingUnitMember" xlink:label="abev_SouthLatinAmericaSegmentArgentinaCashgeneratingUnitMember" xlink:type="locator"/>
    <link:label xlink:label="abev_SouthLatinAmericaSegmentArgentinaCashgeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">South Latin America segment - Argentina, cash-generating unit [member]</link:label>
    <link:label xlink:label="abev_SouthLatinAmericaSegmentArgentinaCashgeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the information regarding the Argentinian cash-generating unit of the South Latin America segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_SouthLatinAmericaSegmentArgentinaCashgeneratingUnitMember" xlink:to="abev_SouthLatinAmericaSegmentArgentinaCashgeneratingUnitMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_SouthLatinAmericaSegmentParaguayCashgeneratingUnitMember" xlink:label="abev_SouthLatinAmericaSegmentParaguayCashgeneratingUnitMember" xlink:type="locator"/>
    <link:label xlink:label="abev_SouthLatinAmericaSegmentParaguayCashgeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">South Latin America segment - Paraguay, cash-generating unit [member]</link:label>
    <link:label xlink:label="abev_SouthLatinAmericaSegmentParaguayCashgeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the information regarding the Paraguayan cash-generating unit of the South Latin America segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_SouthLatinAmericaSegmentParaguayCashgeneratingUnitMember" xlink:to="abev_SouthLatinAmericaSegmentParaguayCashgeneratingUnitMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AnticipatedFederalAmnesty" xlink:label="abev_AnticipatedFederalAmnesty" xlink:type="locator"/>
    <link:label xlink:label="abev_AnticipatedFederalAmnesty-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Anticipation federal amnesty</link:label>
    <link:label xlink:label="abev_AnticipatedFederalAmnesty-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The anticipated federal amnesty to affect deferred (expense) income.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AnticipatedFederalAmnesty" xlink:to="abev_AnticipatedFederalAmnesty-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement</link:label>
    <link:label xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Deferred shares outstanding at January 1st</link:label>
    <link:label xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Deferred shares outstanding at ended year</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement" xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement</link:label>
    <link:label xlink:label="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average exercise price of other equity instruments granted in share-based payment arrangement</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement" xlink:to="ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement</link:label>
    <link:label xlink:label="ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred shares forfeited during the period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory" xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of number and weighted average exercise prices of other equity instruments [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory" xlink:to="ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_GoodwillGross" xlink:label="abev_GoodwillGross" xlink:type="locator"/>
    <link:label xlink:label="abev_GoodwillGross-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill, gross</link:label>
    <link:label xlink:label="abev_GoodwillGross-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of goodwill before noncontrolling transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_GoodwillGross" xlink:to="abev_GoodwillGross-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_SouthLatinAmericaSegmentUruguayCashgeneratingUnitMember" xlink:label="abev_SouthLatinAmericaSegmentUruguayCashgeneratingUnitMember" xlink:type="locator"/>
    <link:label xlink:label="abev_SouthLatinAmericaSegmentUruguayCashgeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">South Latin America segment - Uruguay, cash-generating unit [member]</link:label>
    <link:label xlink:label="abev_SouthLatinAmericaSegmentUruguayCashgeneratingUnitMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the information regarding the Uruguayan cash-generating unit of the South Latin America segment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_SouthLatinAmericaSegmentUruguayCashgeneratingUnitMember" xlink:to="abev_SouthLatinAmericaSegmentUruguayCashgeneratingUnitMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CashgeneratingUnitInCanadaMember" xlink:label="abev_CashgeneratingUnitInCanadaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CashgeneratingUnitInCanadaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash-generating unit in Canada [member]</link:label>
    <link:label xlink:label="abev_CashgeneratingUnitInCanadaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the information regarding the Canadian cash-generating unit.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CashgeneratingUnitInCanadaMember" xlink:to="abev_CashgeneratingUnitInCanadaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions" xlink:label="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions</link:label>
    <link:label xlink:label="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average remaining contractual life of outstanding share options</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions" xlink:to="ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NoncontrollingTransactionsGoodwill" xlink:label="abev_NoncontrollingTransactionsGoodwill" xlink:type="locator"/>
    <link:label xlink:label="abev_NoncontrollingTransactionsGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_NoncontrollingTransactionsGoodwill</link:label>
    <link:label xlink:label="abev_NoncontrollingTransactionsGoodwill-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Goodwill, non-controlling transactions</link:label>
    <link:label xlink:label="abev_NoncontrollingTransactionsGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The accumulated noncontrolling transactions that affect goodwill.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NoncontrollingTransactionsGoodwill" xlink:to="abev_NoncontrollingTransactionsGoodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfOutstandingShareOptions" xlink:label="ifrs-full_NumberOfOutstandingShareOptions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NumberOfOutstandingShareOptions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NumberOfOutstandingShareOptions</link:label>
    <link:label xlink:label="ifrs-full_NumberOfOutstandingShareOptions-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of share options outstanding in share-based payment arrangement at end of period</link:label>
    <link:label xlink:label="ifrs-full_NumberOfOutstandingShareOptions-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Options outstanding at January 1st</link:label>
    <link:label xlink:label="ifrs-full_NumberOfOutstandingShareOptions-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Options outstanding at ended year</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOutstandingShareOptions" xlink:to="ifrs-full_NumberOfOutstandingShareOptions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmbevPrivatePensionInstituteOfTheDefinedBenefitsPlanMember" xlink:label="abev_AmbevPrivatePensionInstituteOfTheDefinedBenefitsPlanMember" xlink:type="locator"/>
    <link:label xlink:label="abev_AmbevPrivatePensionInstituteOfTheDefinedBenefitsPlanMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ambev Private Pension Institute of the defined benefits plan [member]</link:label>
    <link:label xlink:label="abev_AmbevPrivatePensionInstituteOfTheDefinedBenefitsPlanMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Ambev Private Pension Institute of the defined benefits plan.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmbevPrivatePensionInstituteOfTheDefinedBenefitsPlanMember" xlink:to="abev_AmbevPrivatePensionInstituteOfTheDefinedBenefitsPlanMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmortisationPercentage" xlink:label="abev_AmortisationPercentage" xlink:type="locator"/>
    <link:label xlink:label="abev_AmortisationPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_AmortisationPercentage</link:label>
    <link:label xlink:label="abev_AmortisationPercentage-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortisation percentage</link:label>
    <link:label xlink:label="abev_AmortisationPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The rate at which amortisation occurs for intangible assets per year.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmortisationPercentage" xlink:to="abev_AmortisationPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill" xlink:label="abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <link:label xlink:label="abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposals through exchange transaction of shareholdings</link:label>
    <link:label xlink:label="abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The decrease in intangible assets other than goodwill resulting from acquisitions through stock exchange.</link:label>
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    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated depreciation, amortisation and impairment [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:to="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AcquisitionsThroughStockExchangeIntangibleAssetsOtherThanGoodwill" xlink:label="abev_AcquisitionsThroughStockExchangeIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <link:label xlink:label="abev_AcquisitionsThroughStockExchangeIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_AcquisitionsThroughStockExchangeIntangibleAssetsOtherThanGoodwill</link:label>
    <link:label xlink:label="abev_AcquisitionsThroughStockExchangeIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisitions through exchange transaction of shareholdings</link:label>
    <link:label xlink:label="abev_AcquisitionsThroughStockExchangeIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase in intangible assets other than goodwill resulting from acquisitions through stock exchange.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AcquisitionsThroughStockExchangeIntangibleAssetsOtherThanGoodwill" xlink:to="abev_AcquisitionsThroughStockExchangeIntangibleAssetsOtherThanGoodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PartialExerciseOfPutOptionForFurtherOwnershipOfSubsidiaryMember" xlink:label="abev_PartialExerciseOfPutOptionForFurtherOwnershipOfSubsidiaryMember" xlink:type="locator"/>
    <link:label xlink:label="abev_PartialExerciseOfPutOptionForFurtherOwnershipOfSubsidiaryMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Partial exercise of put option for further ownership of subsidiary [member]</link:label>
    <link:label xlink:label="abev_PartialExerciseOfPutOptionForFurtherOwnershipOfSubsidiaryMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the partial exercise of put option for further ownership of subsidiary.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PartialExerciseOfPutOptionForFurtherOwnershipOfSubsidiaryMember" xlink:to="abev_PartialExerciseOfPutOptionForFurtherOwnershipOfSubsidiaryMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsInSharebasedPaymentArrangementExercisedDuringPeriodAtDateOfExercise" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsInSharebasedPaymentArrangementExercisedDuringPeriodAtDateOfExercise" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsInSharebasedPaymentArrangementExercisedDuringPeriodAtDateOfExercise-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_WeightedAverageExercisePriceOfShareOptionsInSharebasedPaymentArrangementExercisedDuringPeriodAtDateOfExercise</link:label>
    <link:label xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsInSharebasedPaymentArrangementExercisedDuringPeriodAtDateOfExercise-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average share price for share options in share-based payment arrangement exercised during period at date of exercise</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsInSharebasedPaymentArrangementExercisedDuringPeriodAtDateOfExercise" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsInSharebasedPaymentArrangementExercisedDuringPeriodAtDateOfExercise-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Options exercisable at ended period, weighted average exercise price</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption" xlink:label="abev_PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption" xlink:type="locator"/>
    <link:label xlink:label="abev_PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption</link:label>
    <link:label xlink:label="abev_PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of ownership acquired through the partial exercise of a put option</link:label>
    <link:label xlink:label="abev_PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of ownership acquired through the partial exercise of a put option.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption" xlink:to="abev_PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Options exercised during the period, weighted average exercise price</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Options forfeited during the period, weighted average exercise price</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement</link:label>
    <link:label xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average exercise price of share options outstanding in share-based payment arrangement at end of period</link:label>
    <link:label xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Options outstanding at January 1 st, weighted average exercise price</link:label>
    <link:label xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Options outstanding at ended period, weighted average exercise price</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred</link:label>
    <link:label xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total consideration transferred, acquisition-date fair value</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:to="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DistributionContractsMember" xlink:label="abev_DistributionContractsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_DistributionContractsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution contracts [member]</link:label>
    <link:label xlink:label="abev_DistributionContractsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding distribution contracts.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DistributionContractsMember" xlink:to="abev_DistributionContractsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement</link:label>
    <link:label xlink:label="ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Options forfeited during the period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement</link:label>
    <link:label xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Options exercised during the period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Options issued during the period, weighted average exercise price</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:to="ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination" xlink:label="ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination</link:label>
    <link:label xlink:label="ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Costs arising from business combinations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination" xlink:to="ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Options issued during the period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SharebasedPaymentArrangementsMember" xlink:label="ifrs-full_SharebasedPaymentArrangementsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SharebasedPaymentArrangementsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based payment arrangements [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharebasedPaymentArrangementsMember" xlink:to="ifrs-full_SharebasedPaymentArrangementsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IntangibleAssetsInBoliviaMember" xlink:label="abev_IntangibleAssetsInBoliviaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_IntangibleAssetsInBoliviaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets in Bolivia [member]</link:label>
    <link:label xlink:label="abev_IntangibleAssetsInBoliviaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding intangible assets in Bolivia.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IntangibleAssetsInBoliviaMember" xlink:to="abev_IntangibleAssetsInBoliviaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of share-based payment arrangements [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis" xlink:to="ifrs-full_TypesOfSharebasedPaymentArrangementsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisitions through business combination</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IntangibleAssetsInArgentinaMember" xlink:label="abev_IntangibleAssetsInArgentinaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_IntangibleAssetsInArgentinaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets in Argentina [member]</link:label>
    <link:label xlink:label="abev_IntangibleAssetsInArgentinaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding intangible assets in Argentina.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IntangibleAssetsInArgentinaMember" xlink:to="abev_IntangibleAssetsInArgentinaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IntangibleAssetsInCanadaMember" xlink:label="abev_IntangibleAssetsInCanadaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_IntangibleAssetsInCanadaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets in Canada [member]</link:label>
    <link:label xlink:label="abev_IntangibleAssetsInCanadaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding intangible assets in Canada.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IntangibleAssetsInCanadaMember" xlink:to="abev_IntangibleAssetsInCanadaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:label="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of share-based payment arrangements [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory" xlink:to="ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business combinations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IntangibleAssetsInBrazilMember" xlink:label="abev_IntangibleAssetsInBrazilMember" xlink:type="locator"/>
    <link:label xlink:label="abev_IntangibleAssetsInBrazilMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets in Brazil [member]</link:label>
    <link:label xlink:label="abev_IntangibleAssetsInBrazilMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding intangible assets in Brazil.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IntangibleAssetsInBrazilMember" xlink:to="abev_IntangibleAssetsInBrazilMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRatesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumption of discount rates [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:to="ifrs-full_ActuarialAssumptionOfDiscountRatesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inflation</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation" xlink:to="ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IntangibleAssetsInParaguayMember" xlink:label="abev_IntangibleAssetsInParaguayMember" xlink:type="locator"/>
    <link:label xlink:label="abev_IntangibleAssetsInParaguayMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets in Paraguay [member]</link:label>
    <link:label xlink:label="abev_IntangibleAssetsInParaguayMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding intangible assets in Paraguay.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IntangibleAssetsInParaguayMember" xlink:to="abev_IntangibleAssetsInParaguayMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IntangibleAssetsInChileMember" xlink:label="abev_IntangibleAssetsInChileMember" xlink:type="locator"/>
    <link:label xlink:label="abev_IntangibleAssetsInChileMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets in Chile [member]</link:label>
    <link:label xlink:label="abev_IntangibleAssetsInChileMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding intangible assets in Chile.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IntangibleAssetsInChileMember" xlink:to="abev_IntangibleAssetsInChileMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRates-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discount rate</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:to="ifrs-full_ActuarialAssumptionOfDiscountRates-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IntangibleAssetsInLuxembourgMember" xlink:label="abev_IntangibleAssetsInLuxembourgMember" xlink:type="locator"/>
    <link:label xlink:label="abev_IntangibleAssetsInLuxembourgMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets in Luxembourg [member]</link:label>
    <link:label xlink:label="abev_IntangibleAssetsInLuxembourgMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding intangible assets in Luxembourg.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IntangibleAssetsInLuxembourgMember" xlink:to="abev_IntangibleAssetsInLuxembourgMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IntangibleAssetsInUruaguayMember" xlink:label="abev_IntangibleAssetsInUruaguayMember" xlink:type="locator"/>
    <link:label xlink:label="abev_IntangibleAssetsInUruaguayMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets in Uruaguay [member]</link:label>
    <link:label xlink:label="abev_IntangibleAssetsInUruaguayMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding intangible assets in Uruguay.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IntangibleAssetsInUruaguayMember" xlink:to="abev_IntangibleAssetsInUruaguayMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Future salary increases</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:to="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Future pension increases</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases" xlink:to="ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IntangibleAssetsInTheDominicanRepublicMember" xlink:label="abev_IntangibleAssetsInTheDominicanRepublicMember" xlink:type="locator"/>
    <link:label xlink:label="abev_IntangibleAssetsInTheDominicanRepublicMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets in the Dominican Republic [member]</link:label>
    <link:label xlink:label="abev_IntangibleAssetsInTheDominicanRepublicMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding intangible assets in the Dominican Republic.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IntangibleAssetsInTheDominicanRepublicMember" xlink:to="abev_IntangibleAssetsInTheDominicanRepublicMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expected volatility</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfInvestmentSecuritiesTextBlock" xlink:label="abev_DisclosureOfInvestmentSecuritiesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfInvestmentSecuritiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of investment securities [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfInvestmentSecuritiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the investment securities of the entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfInvestmentSecuritiesTextBlock" xlink:to="abev_DisclosureOfInvestmentSecuritiesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionOfLifeExpectancyAfterRetirementMember" xlink:label="ifrs-full_ActuarialAssumptionOfLifeExpectancyAfterRetirementMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionOfLifeExpectancyAfterRetirementMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumption of life expectancy after retirement [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfLifeExpectancyAfterRetirementMember" xlink:to="ifrs-full_ActuarialAssumptionOfLifeExpectancyAfterRetirementMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates" xlink:label="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Medical cost trend rate</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates" xlink:to="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumption of expected rates of salary increases [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:to="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfRevenueExplanatory" xlink:label="ifrs-full_DisclosureOfRevenueExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfRevenueExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of revenue [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRevenueExplanatory" xlink:to="ifrs-full_DisclosureOfRevenueExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember" xlink:label="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumption of medical cost trend rates [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember" xlink:to="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TotalOfDividendsAndInterestOnCapital" xlink:label="abev_TotalOfDividendsAndInterestOnCapital" xlink:type="locator"/>
    <link:label xlink:label="abev_TotalOfDividendsAndInterestOnCapital-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TotalOfDividendsAndInterestOnCapital</link:label>
    <link:label xlink:label="abev_TotalOfDividendsAndInterestOnCapital-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total of dividends and Interest on capital</link:label>
    <link:label xlink:label="abev_TotalOfDividendsAndInterestOnCapital-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The total amount of dividends and interest on capital.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TotalOfDividendsAndInterestOnCapital" xlink:to="abev_TotalOfDividendsAndInterestOnCapital-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionsMember" xlink:label="ifrs-full_ActuarialAssumptionsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumptions [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionsMember" xlink:to="ifrs-full_ActuarialAssumptionsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionsAxis" xlink:label="ifrs-full_ActuarialAssumptionsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialAssumptionsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumptions [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionsAxis" xlink:to="ifrs-full_ActuarialAssumptionsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InvestmentSecurities" xlink:label="abev_InvestmentSecurities" xlink:type="locator"/>
    <link:label xlink:label="abev_InvestmentSecurities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_InvestmentSecurities</link:label>
    <link:label xlink:label="abev_InvestmentSecurities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label xlink:label="abev_InvestmentSecurities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The total amount of investment securities outstanding.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InvestmentSecurities" xlink:to="abev_InvestmentSecurities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Experience adjustment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfInvestmentSecuritiesPortionsTextBlock" xlink:label="abev_DisclosureOfInvestmentSecuritiesPortionsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfInvestmentSecuritiesPortionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of investment securities portions [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfInvestmentSecuritiesPortionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the disclosure of investment securities portions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfInvestmentSecuritiesPortionsTextBlock" xlink:to="abev_DisclosureOfInvestmentSecuritiesPortionsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial gains and (losses) - geographical assumptions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial gains and (losses) - financial assumptions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfDeferredIncomeTaxAndSocialContributionTextBlock" xlink:label="abev_DisclosureOfDeferredIncomeTaxAndSocialContributionTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfDeferredIncomeTaxAndSocialContributionTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of deferred income tax and social contribution [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfDeferredIncomeTaxAndSocialContributionTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of deferred income tax and social contribution.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfDeferredIncomeTaxAndSocialContributionTextBlock" xlink:to="abev_DisclosureOfDeferredIncomeTaxAndSocialContributionTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfTheAppliedRatesForDeferredIncomeAndSocialContributionTextBlock" xlink:label="abev_DisclosureOfTheAppliedRatesForDeferredIncomeAndSocialContributionTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfTheAppliedRatesForDeferredIncomeAndSocialContributionTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of the applied rates for deferred income and social contribution [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfTheAppliedRatesForDeferredIncomeAndSocialContributionTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the applied rates for deferred income and social contribution.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfTheAppliedRatesForDeferredIncomeAndSocialContributionTextBlock" xlink:to="abev_DisclosureOfTheAppliedRatesForDeferredIncomeAndSocialContributionTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TaxRateEffectOfTaxLossesAndSocialContributions" xlink:label="abev_TaxRateEffectOfTaxLossesAndSocialContributions" xlink:type="locator"/>
    <link:label xlink:label="abev_TaxRateEffectOfTaxLossesAndSocialContributions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Applied rates</link:label>
    <link:label xlink:label="abev_TaxRateEffectOfTaxLossesAndSocialContributions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The tax rate effect on the reconciliation between the average effective tax rate and the applicable tax rate resulting from tax losses and social contributions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TaxRateEffectOfTaxLossesAndSocialContributions" xlink:to="abev_TaxRateEffectOfTaxLossesAndSocialContributions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CanadaMember" xlink:label="abev_CanadaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CanadaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Canada [member]</link:label>
    <link:label xlink:label="abev_CanadaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Canada.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CanadaMember" xlink:to="abev_CanadaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CentralAmericaAndTheCaribbeanMember" xlink:label="abev_CentralAmericaAndTheCaribbeanMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CentralAmericaAndTheCaribbeanMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Central America and the Caribbean [member]</link:label>
    <link:label xlink:label="abev_CentralAmericaAndTheCaribbeanMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Central America and the Caribbean.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CentralAmericaAndTheCaribbeanMember" xlink:to="abev_CentralAmericaAndTheCaribbeanMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_LatinAmericaMember" xlink:label="abev_LatinAmericaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_LatinAmericaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Latin America [member]</link:label>
    <link:label xlink:label="abev_LatinAmericaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Latin America.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_LatinAmericaMember" xlink:to="abev_LatinAmericaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TransfersUnderLicenseAgreementsFromEntityRelatedPartyTransactions" xlink:label="ifrs-full_TransfersUnderLicenseAgreementsFromEntityRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TransfersUnderLicenseAgreementsFromEntityRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_TransfersUnderLicenseAgreementsFromEntityRelatedPartyTransactions</link:label>
    <link:label xlink:label="ifrs-full_TransfersUnderLicenseAgreementsFromEntityRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfers under licence agreements from entity, related party transactions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TransfersUnderLicenseAgreementsFromEntityRelatedPartyTransactions" xlink:to="ifrs-full_TransfersUnderLicenseAgreementsFromEntityRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TransfersUnderLicenseAgreementsToEntityRelatedPartyTransactions" xlink:label="ifrs-full_TransfersUnderLicenseAgreementsToEntityRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TransfersUnderLicenseAgreementsToEntityRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_TransfersUnderLicenseAgreementsToEntityRelatedPartyTransactions</link:label>
    <link:label xlink:label="ifrs-full_TransfersUnderLicenseAgreementsToEntityRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfers under licence agreements to entity, related party transactions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TransfersUnderLicenseAgreementsToEntityRelatedPartyTransactions" xlink:to="ifrs-full_TransfersUnderLicenseAgreementsToEntityRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TemporaryDifferencesInvestmentSecuritiesMember" xlink:label="abev_TemporaryDifferencesInvestmentSecuritiesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TemporaryDifferencesInvestmentSecuritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary differences, investment securities [member]</link:label>
    <link:label xlink:label="abev_TemporaryDifferencesInvestmentSecuritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The temporary differences related to investment securities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TemporaryDifferencesInvestmentSecuritiesMember" xlink:to="abev_TemporaryDifferencesInvestmentSecuritiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TemporaryDifferencesIntangibleAssetsMember" xlink:label="abev_TemporaryDifferencesIntangibleAssetsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TemporaryDifferencesIntangibleAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary differences, intangible assets [member]</link:label>
    <link:label xlink:label="abev_TemporaryDifferencesIntangibleAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The temporary differences related to intangible assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TemporaryDifferencesIntangibleAssetsMember" xlink:to="abev_TemporaryDifferencesIntangibleAssetsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:label="ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sales, related parties</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions" xlink:to="ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TemporaryDifferencesEmployeeBenefitsMember" xlink:label="abev_TemporaryDifferencesEmployeeBenefitsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TemporaryDifferencesEmployeeBenefitsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary differences, employee benefits [member]</link:label>
    <link:label xlink:label="abev_TemporaryDifferencesEmployeeBenefitsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The temporary differences related to employee benefits.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TemporaryDifferencesEmployeeBenefitsMember" xlink:to="abev_TemporaryDifferencesEmployeeBenefitsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TemporaryDifferencesDerivativesMember" xlink:label="abev_TemporaryDifferencesDerivativesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TemporaryDifferencesDerivativesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary differences, derivatives [member]</link:label>
    <link:label xlink:label="abev_TemporaryDifferencesDerivativesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The temporary differences related to derivatives.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TemporaryDifferencesDerivativesMember" xlink:to="abev_TemporaryDifferencesDerivativesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_AR" xlink:label="country_AR" xlink:type="locator"/>
    <link:label xlink:label="country_AR-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ARGENTINA</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_AR" xlink:to="country_AR-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TemporaryDifferencesTradeReceivableMember" xlink:label="abev_TemporaryDifferencesTradeReceivableMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TemporaryDifferencesTradeReceivableMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary differences, trade receivable [member]</link:label>
    <link:label xlink:label="abev_TemporaryDifferencesTradeReceivableMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The temporary differences related to trade receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TemporaryDifferencesTradeReceivableMember" xlink:to="abev_TemporaryDifferencesTradeReceivableMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelCompensation" xlink:label="ifrs-full_KeyManagementPersonnelCompensation" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_KeyManagementPersonnelCompensation-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_KeyManagementPersonnelCompensation</link:label>
    <link:label xlink:label="ifrs-full_KeyManagementPersonnelCompensation-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total key management remuneration</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensation" xlink:to="ifrs-full_KeyManagementPersonnelCompensation-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based payments (ii)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:to="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TemporaryDifferencesInventoriesMember" xlink:label="abev_TemporaryDifferencesInventoriesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TemporaryDifferencesInventoriesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary differences, inventories [member]</link:label>
    <link:label xlink:label="abev_TemporaryDifferencesInventoriesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The temporary differences related to inventories.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TemporaryDifferencesInventoriesMember" xlink:to="abev_TemporaryDifferencesInventoriesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of transactions between related parties [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:to="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TemporaryDifferencesPropertyPlantAndEquipmentMember" xlink:label="abev_TemporaryDifferencesPropertyPlantAndEquipmentMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TemporaryDifferencesPropertyPlantAndEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary differences, property, plant and equipment [member]</link:label>
    <link:label xlink:label="abev_TemporaryDifferencesPropertyPlantAndEquipmentMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The temporary differences related to property, plant and equipment.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TemporaryDifferencesPropertyPlantAndEquipmentMember" xlink:to="abev_TemporaryDifferencesPropertyPlantAndEquipmentMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TemporaryDifferencesInvestmentsInAssociatesMember" xlink:label="abev_TemporaryDifferencesInvestmentsInAssociatesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TemporaryDifferencesInvestmentsInAssociatesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary differences, investments in associates [member]</link:label>
    <link:label xlink:label="abev_TemporaryDifferencesInvestmentsInAssociatesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The temporary differences related to investments in associates.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TemporaryDifferencesInvestmentsInAssociatesMember" xlink:to="abev_TemporaryDifferencesInvestmentsInAssociatesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short-term benefits (i)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:to="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfRelatedPartyExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of related party [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfRelatedPartyExplanatory" xlink:to="ifrs-full_DisclosureOfRelatedPartyExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TemporaryDifferencesProvisionsMember" xlink:label="abev_TemporaryDifferencesProvisionsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TemporaryDifferencesProvisionsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary differences, provisions [member]</link:label>
    <link:label xlink:label="abev_TemporaryDifferencesProvisionsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The temporary differences related to provisions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TemporaryDifferencesProvisionsMember" xlink:to="abev_TemporaryDifferencesProvisionsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdditionalProvisionsOtherProvisions" xlink:label="ifrs-full_AdditionalProvisionsOtherProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdditionalProvisionsOtherProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalProvisionsOtherProvisions" xlink:to="ifrs-full_AdditionalProvisionsOtherProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TemporaryDifferencesOtherItemsMember" xlink:label="abev_TemporaryDifferencesOtherItemsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TemporaryDifferencesOtherItemsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary differences, other items [member]</link:label>
    <link:label xlink:label="abev_TemporaryDifferencesOtherItemsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The temporary differences related to other items.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TemporaryDifferencesOtherItemsMember" xlink:to="abev_TemporaryDifferencesOtherItemsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TotalEquityExposureMember" xlink:label="abev_TotalEquityExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TotalEquityExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total equity exposure [member]</link:label>
    <link:label xlink:label="abev_TotalEquityExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the total equity exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TotalEquityExposureMember" xlink:to="abev_TotalEquityExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdditionalRecognitionGoodwill" xlink:label="ifrs-full_AdditionalRecognitionGoodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdditionalRecognitionGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdditionalRecognitionGoodwill</link:label>
    <link:label xlink:label="ifrs-full_AdditionalRecognitionGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition and disposal through business combinations (i)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalRecognitionGoodwill" xlink:to="ifrs-full_AdditionalRecognitionGoodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfDebtExposureMember" xlink:label="abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfDebtExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfDebtExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash transaction affecting the foreign currency exchange risk portion of debt exposure [member]</link:label>
    <link:label xlink:label="abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfDebtExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the cash transaction affecting the foreign currency exchange risk portion of debt exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfDebtExposureMember" xlink:to="abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfDebtExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EquityInstrumentHedgesMember" xlink:label="abev_EquityInstrumentHedgesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_EquityInstrumentHedgesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity instrument hedges [member]</link:label>
    <link:label xlink:label="abev_EquityInstrumentHedgesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding equity instrument hedges.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EquityInstrumentHedgesMember" xlink:to="abev_EquityInstrumentHedgesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ExpensesThatAffectTheEquityInstrumentRiskPortionOfEquityExposureMember" xlink:label="abev_ExpensesThatAffectTheEquityInstrumentRiskPortionOfEquityExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ExpensesThatAffectTheEquityInstrumentRiskPortionOfEquityExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expenses that affect the equity instrument risk portion of equity exposure [member]</link:label>
    <link:label xlink:label="abev_ExpensesThatAffectTheEquityInstrumentRiskPortionOfEquityExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding expenses that affect the equity instrument risk portion of equity exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ExpensesThatAffectTheEquityInstrumentRiskPortionOfEquityExposureMember" xlink:to="abev_ExpensesThatAffectTheEquityInstrumentRiskPortionOfEquityExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_BO" xlink:label="country_BO" xlink:type="locator"/>
    <link:label xlink:label="country_BO-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BOLIVIA</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_BO" xlink:to="country_BO-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_BR" xlink:label="country_BR" xlink:type="locator"/>
    <link:label xlink:label="country_BR-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BRAZIL</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_BR" xlink:to="country_BR-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_BrazilianRealRiskPortionOfTheExpensesExposureMember" xlink:label="abev_BrazilianRealRiskPortionOfTheExpensesExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_BrazilianRealRiskPortionOfTheExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brazilian Real risk portion of the expenses exposure [member]</link:label>
    <link:label xlink:label="abev_BrazilianRealRiskPortionOfTheExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Brazilian Real risk portion of the expenses exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_BrazilianRealRiskPortionOfTheExpensesExposureMember" xlink:to="abev_BrazilianRealRiskPortionOfTheExpensesExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfProvisionsExplanatory" xlink:label="ifrs-full_DisclosureOfProvisionsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfProvisionsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of provisions [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfProvisionsExplanatory" xlink:to="ifrs-full_DisclosureOfProvisionsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember" xlink:label="abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock exchange price risk portion of the equity instrument exposure [member]</link:label>
    <link:label xlink:label="abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the stock exchange price risk portion of the equity instrument exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember" xlink:to="abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_CA" xlink:label="country_CA" xlink:type="locator"/>
    <link:label xlink:label="country_CA-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CANADA</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_CA" xlink:to="country_CA-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk-free interest rate</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of property, plant and equipment [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory" xlink:to="ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisitions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment</link:label>
    <link:label xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisitions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:to="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfOptionLifeShareOptionsGranted" xlink:label="ifrs-full_DescriptionOfOptionLifeShareOptionsGranted" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DescriptionOfOptionLifeShareOptionsGranted-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting year</link:label>
    <link:label xlink:label="ifrs-full_DescriptionOfOptionLifeShareOptionsGranted-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Option life, share options granted</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfOptionLifeShareOptionsGranted" xlink:to="ifrs-full_DescriptionOfOptionLifeShareOptionsGranted-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExercisePriceShareOptionsGranted" xlink:label="ifrs-full_ExercisePriceShareOptionsGranted" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ExercisePriceShareOptionsGranted-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exercise price</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExercisePriceShareOptionsGranted" xlink:to="ifrs-full_ExercisePriceShareOptionsGranted-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustedWeightedAverageShares" xlink:label="ifrs-full_AdjustedWeightedAverageShares" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustedWeightedAverageShares-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average numbers of shares (diluted) (in shares)</link:label>
    <link:label xlink:label="ifrs-full_AdjustedWeightedAverageShares-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Weighted average number of shares (diluted) at December 31 (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustedWeightedAverageShares" xlink:to="ifrs-full_AdjustedWeightedAverageShares-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory" xlink:label="ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of other operating income (expense) [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory" xlink:to="ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expected dividends</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted" xlink:to="ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_CL" xlink:label="country_CL" xlink:type="locator"/>
    <link:label xlink:label="country_CL-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CHILE</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_CL" xlink:to="country_CL-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageSharePriceShareOptionsGranted" xlink:label="ifrs-full_WeightedAverageSharePriceShareOptionsGranted" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WeightedAverageSharePriceShareOptionsGranted-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share price</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageSharePriceShareOptionsGranted" xlink:to="ifrs-full_WeightedAverageSharePriceShareOptionsGranted-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForAmountsTransferredToInitialCarryingAmountOfHedgedItems" xlink:label="ifrs-full_AdjustmentsForAmountsTransferredToInitialCarryingAmountOfHedgedItems" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForAmountsTransferredToInitialCarryingAmountOfHedgedItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdjustmentsForAmountsTransferredToInitialCarryingAmountOfHedgedItems</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForAmountsTransferredToInitialCarryingAmountOfHedgedItems-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Removed from Equity (Hedge reserve) and included in profit or loss</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForAmountsTransferredToInitialCarryingAmountOfHedgedItems" xlink:to="ifrs-full_AdjustmentsForAmountsTransferredToInitialCarryingAmountOfHedgedItems-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfNotesAndOtherExplanatoryInformationExplanatory" xlink:label="ifrs-full_DisclosureOfNotesAndOtherExplanatoryInformationExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfNotesAndOtherExplanatoryInformationExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DisclosureOfNotesAndOtherExplanatoryInformationExplanatory</link:label>
    <link:label xlink:label="ifrs-full_DisclosureOfNotesAndOtherExplanatoryInformationExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes to Financial Statements</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfNotesAndOtherExplanatoryInformationExplanatory" xlink:to="ifrs-full_DisclosureOfNotesAndOtherExplanatoryInformationExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">(Increase)/decrease in inventories</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfTheRealizationOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:label="abev_DisclosureOfTheRealizationOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfTheRealizationOfDeferredTaxAssetsAndLiabilitiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of the realization of deferred tax assets and liabilities [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfTheRealizationOfDeferredTaxAssetsAndLiabilitiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the realization of deferred tax assets and liabilities of the entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfTheRealizationOfDeferredTaxAssetsAndLiabilitiesTextBlock" xlink:to="abev_DisclosureOfTheRealizationOfDeferredTaxAssetsAndLiabilitiesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_StateOfMinasGeraisAndRioDeJaneiroMember" xlink:label="abev_StateOfMinasGeraisAndRioDeJaneiroMember" xlink:type="locator"/>
    <link:label xlink:label="abev_StateOfMinasGeraisAndRioDeJaneiroMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">State of Minas Gerais and Rio de Janeiro [member]</link:label>
    <link:label xlink:label="abev_StateOfMinasGeraisAndRioDeJaneiroMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the information regarding the state of Minas Gerais and Rio de Janeiro.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_StateOfMinasGeraisAndRioDeJaneiroMember" xlink:to="abev_StateOfMinasGeraisAndRioDeJaneiroMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfOtherProvisionsExplanatory" xlink:label="ifrs-full_DisclosureOfOtherProvisionsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfOtherProvisionsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of other provisions [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfOtherProvisionsExplanatory" xlink:to="ifrs-full_DisclosureOfOtherProvisionsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_DO" xlink:label="country_DO" xlink:type="locator"/>
    <link:label xlink:label="country_DO-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">DOMINICAN REPUBLIC</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_DO" xlink:to="country_DO-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">(Increase)/decrease in trade and other receivables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, amortization and impairment</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Depreciation. amortization and impairment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss" xlink:to="ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForDeferredTaxExpense" xlink:label="ifrs-full_AdjustmentsForDeferredTaxExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForDeferredTaxExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdjustmentsForDeferredTaxExpense</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForDeferredTaxExpense-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred tax over taxes losses carryforwards movements in the current period</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDeferredTaxExpense" xlink:to="ifrs-full_AdjustmentsForDeferredTaxExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfTheReconciliationOfChangesInDeferredTaxLiabilityAssetTextBlock" xlink:label="abev_DisclosureOfTheReconciliationOfChangesInDeferredTaxLiabilityAssetTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfTheReconciliationOfChangesInDeferredTaxLiabilityAssetTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of the reconciliation of changes in deferred tax liability (asset) [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfTheReconciliationOfChangesInDeferredTaxLiabilityAssetTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The reconciliation of the reconciliation of changes in deferred tax liability (asset).</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfTheReconciliationOfChangesInDeferredTaxLiabilityAssetTextBlock" xlink:to="abev_DisclosureOfTheReconciliationOfChangesInDeferredTaxLiabilityAssetTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_ES" xlink:label="country_ES" xlink:type="locator"/>
    <link:label xlink:label="country_ES-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">SPAIN</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_ES" xlink:to="country_ES-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IncomeTaxRelatingToHedgesOfInvestmentsRegardingPutOptionsOfASubsidiaryInterestInEquityInstrumentsOfOtherComprehensiveIncome" xlink:label="abev_IncomeTaxRelatingToHedgesOfInvestmentsRegardingPutOptionsOfASubsidiaryInterestInEquityInstrumentsOfOtherComprehensiveIncome" xlink:type="locator"/>
    <link:label xlink:label="abev_IncomeTaxRelatingToHedgesOfInvestmentsRegardingPutOptionsOfASubsidiaryInterestInEquityInstrumentsOfOtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment hedge - put option of a subsidiary interest</link:label>
    <link:label xlink:label="abev_IncomeTaxRelatingToHedgesOfInvestmentsRegardingPutOptionsOfASubsidiaryInterestInEquityInstrumentsOfOtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of income tax relating to amounts recognised in other comprehensive income in relation to hedges of investments regarding put options of a subsidiary interest in equity instruments that the entity has designated at fair value through other comprehensive income.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IncomeTaxRelatingToHedgesOfInvestmentsRegardingPutOptionsOfASubsidiaryInterestInEquityInstrumentsOfOtherComprehensiveIncome" xlink:to="abev_IncomeTaxRelatingToHedgesOfInvestmentsRegardingPutOptionsOfASubsidiaryInterestInEquityInstrumentsOfOtherComprehensiveIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NoncashItemsFederalTaxAmnestyProgram" xlink:label="abev_NoncashItemsFederalTaxAmnestyProgram" xlink:type="locator"/>
    <link:label xlink:label="abev_NoncashItemsFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_NoncashItemsFederalTaxAmnestyProgram</link:label>
    <link:label xlink:label="abev_NoncashItemsFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PERT 2017</link:label>
    <link:label xlink:label="abev_NoncashItemsFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The non-cash adjustment for the federal tax amnesty program.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NoncashItemsFederalTaxAmnestyProgram" xlink:to="abev_NoncashItemsFederalTaxAmnestyProgram-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfDeferredTaxRealizationRelatedToTaxLossesTextBlock" xlink:label="abev_DisclosureOfDeferredTaxRealizationRelatedToTaxLossesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfDeferredTaxRealizationRelatedToTaxLossesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of deferred tax realization related to tax losses [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfDeferredTaxRealizationRelatedToTaxLossesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of deferred tax realization related to tax losses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfDeferredTaxRealizationRelatedToTaxLossesTextBlock" xlink:to="abev_DisclosureOfDeferredTaxRealizationRelatedToTaxLossesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DirectChangesToDeferredTaxAndLiabilitiesInTheBalanceSheet" xlink:label="abev_DirectChangesToDeferredTaxAndLiabilitiesInTheBalanceSheet" xlink:type="locator"/>
    <link:label xlink:label="abev_DirectChangesToDeferredTaxAndLiabilitiesInTheBalanceSheet-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Recognized in deferred tax</link:label>
    <link:label xlink:label="abev_DirectChangesToDeferredTaxAndLiabilitiesInTheBalanceSheet-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The direct changes to the amounts in the deferred tax and liabilities in the balance sheet.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DirectChangesToDeferredTaxAndLiabilitiesInTheBalanceSheet" xlink:to="abev_DirectChangesToDeferredTaxAndLiabilitiesInTheBalanceSheet-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PanamaHoldingMember" xlink:label="abev_PanamaHoldingMember" xlink:type="locator"/>
    <link:label xlink:label="abev_PanamaHoldingMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Panam&#225; Holding [member]</link:label>
    <link:label xlink:label="abev_PanamaHoldingMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Panam&#225; Holding.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PanamaHoldingMember" xlink:to="abev_PanamaHoldingMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Losses/(gain) on sale of operations in associates</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:to="ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Losses/(gain) on sale of property, plant and equipment and intangible assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:to="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForFinanceIncomeCost" xlink:label="ifrs-full_AdjustmentsForFinanceIncomeCost" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForFinanceIncomeCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdjustmentsForFinanceIncomeCost</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForFinanceIncomeCost-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net finance cost</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForFinanceIncomeCost" xlink:to="ifrs-full_AdjustmentsForFinanceIncomeCost-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ChangesRelatedToDeferredTaxRecognizedInOtherInTheBalanceSheet" xlink:label="abev_ChangesRelatedToDeferredTaxRecognizedInOtherInTheBalanceSheet" xlink:type="locator"/>
    <link:label xlink:label="abev_ChangesRelatedToDeferredTaxRecognizedInOtherInTheBalanceSheet-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Recognized in other group of balance sheet</link:label>
    <link:label xlink:label="abev_ChangesRelatedToDeferredTaxRecognizedInOtherInTheBalanceSheet-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The changes related to the deferred tax recognized in the other group in the balance sheet.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ChangesRelatedToDeferredTaxRecognizedInOtherInTheBalanceSheet" xlink:to="abev_ChangesRelatedToDeferredTaxRecognizedInOtherInTheBalanceSheet-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TotalChangesRelatedToDeferredIncomeTaxAndSocialContributionsAffectingTheBalanceSheet" xlink:label="abev_TotalChangesRelatedToDeferredIncomeTaxAndSocialContributionsAffectingTheBalanceSheet" xlink:type="locator"/>
    <link:label xlink:label="abev_TotalChangesRelatedToDeferredIncomeTaxAndSocialContributionsAffectingTheBalanceSheet-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TotalChangesRelatedToDeferredIncomeTaxAndSocialContributionsAffectingTheBalanceSheet</link:label>
    <link:label xlink:label="abev_TotalChangesRelatedToDeferredIncomeTaxAndSocialContributionsAffectingTheBalanceSheet-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Changes directly in balance sheet</link:label>
    <link:label xlink:label="abev_TotalChangesRelatedToDeferredIncomeTaxAndSocialContributionsAffectingTheBalanceSheet-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The total changes related to deferred income tax and social contributions affecting the balance sheet.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TotalChangesRelatedToDeferredIncomeTaxAndSocialContributionsAffectingTheBalanceSheet" xlink:to="abev_TotalChangesRelatedToDeferredIncomeTaxAndSocialContributionsAffectingTheBalanceSheet-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForIncomeTaxExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income tax expense</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncomeTaxExpense" xlink:to="ifrs-full_AdjustmentsForIncomeTaxExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InventoriesImpairmentLosses" xlink:label="abev_InventoriesImpairmentLosses" xlink:type="locator"/>
    <link:label xlink:label="abev_InventoriesImpairmentLosses-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_InventoriesImpairmentLosses</link:label>
    <link:label xlink:label="abev_InventoriesImpairmentLosses-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Impairment losses</link:label>
    <link:label xlink:label="abev_InventoriesImpairmentLosses-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of impairment losses related to inventories.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InventoriesImpairmentLosses" xlink:to="abev_InventoriesImpairmentLosses-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfCurrentTradeReceivablesTextBlock" xlink:label="abev_DisclosureOfCurrentTradeReceivablesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfCurrentTradeReceivablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of current trade receivables [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfCurrentTradeReceivablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of current trade receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfCurrentTradeReceivablesTextBlock" xlink:to="abev_DisclosureOfCurrentTradeReceivablesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfInventoryComponentsTextBlock" xlink:label="abev_DisclosureOfInventoryComponentsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfInventoryComponentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of inventory components [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfInventoryComponentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of inventory components.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfInventoryComponentsTextBlock" xlink:to="abev_DisclosureOfInventoryComponentsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_GT" xlink:label="country_GT" xlink:type="locator"/>
    <link:label xlink:label="country_GT-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">GUATEMALA</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_GT" xlink:to="country_GT-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EnteringIntoTwoLoanAgreementsMember" xlink:label="abev_EnteringIntoTwoLoanAgreementsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_EnteringIntoTwoLoanAgreementsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entering into two loan agreements [member]</link:label>
    <link:label xlink:label="abev_EnteringIntoTwoLoanAgreementsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for entering into two loan agreements.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EnteringIntoTwoLoanAgreementsMember" xlink:to="abev_EnteringIntoTwoLoanAgreementsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TotalAmountConsideredUnderTheFederalTaxAmnestyProgram" xlink:label="abev_TotalAmountConsideredUnderTheFederalTaxAmnestyProgram" xlink:type="locator"/>
    <link:label xlink:label="abev_TotalAmountConsideredUnderTheFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TotalAmountConsideredUnderTheFederalTaxAmnestyProgram</link:label>
    <link:label xlink:label="abev_TotalAmountConsideredUnderTheFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total amount considered under the Federal Tax Amnesty Program</link:label>
    <link:label xlink:label="abev_TotalAmountConsideredUnderTheFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The total amount considered for future payments due to the Federal Tax Amnesty Program facilitating the disputed/discounted amounts payable.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TotalAmountConsideredUnderTheFederalTaxAmnestyProgram" xlink:to="abev_TotalAmountConsideredUnderTheFederalTaxAmnestyProgram-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase/(decrease) in trade and other payables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_BorrowingsTerm" xlink:label="abev_BorrowingsTerm" xlink:type="locator"/>
    <link:label xlink:label="abev_BorrowingsTerm-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_BorrowingsTerm</link:label>
    <link:label xlink:label="abev_BorrowingsTerm-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowings, Term</link:label>
    <link:label xlink:label="abev_BorrowingsTerm-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Period of time between issuance and maturity of borrowings, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_BorrowingsTerm" xlink:to="abev_BorrowingsTerm-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CurrentTradeReceivablesNetOfBadDebtProvisions" xlink:label="abev_CurrentTradeReceivablesNetOfBadDebtProvisions" xlink:type="locator"/>
    <link:label xlink:label="abev_CurrentTradeReceivablesNetOfBadDebtProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net, trade receivables</link:label>
    <link:label xlink:label="abev_CurrentTradeReceivablesNetOfBadDebtProvisions-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net, trade receivables</link:label>
    <link:label xlink:label="abev_CurrentTradeReceivablesNetOfBadDebtProvisions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of current trade receivables, net of bad debt provisions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CurrentTradeReceivablesNetOfBadDebtProvisions" xlink:to="abev_CurrentTradeReceivablesNetOfBadDebtProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfMaturityOfTheCurrentTradeReceivablesTextBlock" xlink:label="abev_DisclosureOfMaturityOfTheCurrentTradeReceivablesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfMaturityOfTheCurrentTradeReceivablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of maturity of the current trade receivables [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfMaturityOfTheCurrentTradeReceivablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the maturity of the current trade receivables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfMaturityOfTheCurrentTradeReceivablesTextBlock" xlink:to="abev_DisclosureOfMaturityOfTheCurrentTradeReceivablesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_LaterThanThreeMonthsAndLessThanSixMonthsMember" xlink:label="abev_LaterThanThreeMonthsAndLessThanSixMonthsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_LaterThanThreeMonthsAndLessThanSixMonthsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than three months and less than six months [member]</link:label>
    <link:label xlink:label="abev_LaterThanThreeMonthsAndLessThanSixMonthsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a time band of later than three months and less than six months.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_LaterThanThreeMonthsAndLessThanSixMonthsMember" xlink:to="abev_LaterThanThreeMonthsAndLessThanSixMonthsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_LaterThanSixMonthsAndLessThan12MonthsMember" xlink:label="abev_LaterThanSixMonthsAndLessThan12MonthsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_LaterThanSixMonthsAndLessThan12MonthsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than six months and less than 12 months [member]</link:label>
    <link:label xlink:label="abev_LaterThanSixMonthsAndLessThan12MonthsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a time band of later than six months and not later than 12 months.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_LaterThanSixMonthsAndLessThan12MonthsMember" xlink:to="abev_LaterThanSixMonthsAndLessThan12MonthsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmountPaidUnderTheFederalTaxAmnestyProgram" xlink:label="abev_AmountPaidUnderTheFederalTaxAmnestyProgram" xlink:type="locator"/>
    <link:label xlink:label="abev_AmountPaidUnderTheFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_AmountPaidUnderTheFederalTaxAmnestyProgram</link:label>
    <link:label xlink:label="abev_AmountPaidUnderTheFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount paid under the Federal Tax Amnesty Program</link:label>
    <link:label xlink:label="abev_AmountPaidUnderTheFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash outflow for the payment of outstanding debt related to the Federal Tax Amnesty Program.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmountPaidUnderTheFederalTaxAmnestyProgram" xlink:to="abev_AmountPaidUnderTheFederalTaxAmnestyProgram-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_RemainingRequiredMonthlyPaymentsUnderTheFederalTaxAmnestyProgram" xlink:label="abev_RemainingRequiredMonthlyPaymentsUnderTheFederalTaxAmnestyProgram" xlink:type="locator"/>
    <link:label xlink:label="abev_RemainingRequiredMonthlyPaymentsUnderTheFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_RemainingRequiredMonthlyPaymentsUnderTheFederalTaxAmnestyProgram</link:label>
    <link:label xlink:label="abev_RemainingRequiredMonthlyPaymentsUnderTheFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remaining required monthly payments under the Federal Tax Amnesty Program</link:label>
    <link:label xlink:label="abev_RemainingRequiredMonthlyPaymentsUnderTheFederalTaxAmnestyProgram-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The remaining required monthly payments under the Federal Tax Amnesty Program.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_RemainingRequiredMonthlyPaymentsUnderTheFederalTaxAmnestyProgram" xlink:to="abev_RemainingRequiredMonthlyPaymentsUnderTheFederalTaxAmnestyProgram-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MaturityAxis" xlink:label="ifrs-full_MaturityAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_MaturityAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maturity [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_MaturityAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_LessThanOneMonthMember" xlink:label="abev_LessThanOneMonthMember" xlink:type="locator"/>
    <link:label xlink:label="abev_LessThanOneMonthMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Less than one month [member]</link:label>
    <link:label xlink:label="abev_LessThanOneMonthMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a time band less than one month.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_LessThanOneMonthMember" xlink:to="abev_LessThanOneMonthMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreementAmount" xlink:label="abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreementAmount" xlink:type="locator"/>
    <link:label xlink:label="abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreementAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreementAmount</link:label>
    <link:label xlink:label="abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreementAmount-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum exposure of common shares under a equity swap agreement, amount</link:label>
    <link:label xlink:label="abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreementAmount-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The maximum amount estimated for the exposure of common shares under a equity swap agreement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreementAmount" xlink:to="abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreementAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_MaximumTermOfEquitySwapAgreement" xlink:label="abev_MaximumTermOfEquitySwapAgreement" xlink:type="locator"/>
    <link:label xlink:label="abev_MaximumTermOfEquitySwapAgreement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_MaximumTermOfEquitySwapAgreement</link:label>
    <link:label xlink:label="abev_MaximumTermOfEquitySwapAgreement-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum term of equity swap agreement</link:label>
    <link:label xlink:label="abev_MaximumTermOfEquitySwapAgreement-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The maximum term of an equity swap agreement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_MaximumTermOfEquitySwapAgreement" xlink:to="abev_MaximumTermOfEquitySwapAgreement-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PaymentsToASubsidiaryForCompletionOf3rdPartyLicensingTransaction" xlink:label="abev_PaymentsToASubsidiaryForCompletionOf3rdPartyLicensingTransaction" xlink:type="locator"/>
    <link:label xlink:label="abev_PaymentsToASubsidiaryForCompletionOf3rdPartyLicensingTransaction-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_PaymentsToASubsidiaryForCompletionOf3rdPartyLicensingTransaction</link:label>
    <link:label xlink:label="abev_PaymentsToASubsidiaryForCompletionOf3rdPartyLicensingTransaction-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payments to a subsidiary for completion of 3rd party licensing transaction</link:label>
    <link:label xlink:label="abev_PaymentsToASubsidiaryForCompletionOf3rdPartyLicensingTransaction-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The total payments to a subsidiary for the completion of 3rd party licensing transaction</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PaymentsToASubsidiaryForCompletionOf3rdPartyLicensingTransaction" xlink:to="abev_PaymentsToASubsidiaryForCompletionOf3rdPartyLicensingTransaction-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForProvisions" xlink:label="ifrs-full_AdjustmentsForProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AdjustmentsForProvisions</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForProvisions-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">(Additions)/reversals to provisions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForProvisions" xlink:to="ifrs-full_AdjustmentsForProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_LaterThanAYearMember" xlink:label="abev_LaterThanAYearMember" xlink:type="locator"/>
    <link:label xlink:label="abev_LaterThanAYearMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than a year [member]</link:label>
    <link:label xlink:label="abev_LaterThanAYearMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a time band of later than a year.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_LaterThanAYearMember" xlink:to="abev_LaterThanAYearMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreement" xlink:label="abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreement" xlink:type="locator"/>
    <link:label xlink:label="abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreement</link:label>
    <link:label xlink:label="abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreement-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum exposure of common shares under a equity swap agreement</link:label>
    <link:label xlink:label="abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreement-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The maximum exposure of common shares under a equity swap agreement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreement" xlink:to="abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreement-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForSharebasedPayments" xlink:label="ifrs-full_AdjustmentsForSharebasedPayments" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AdjustmentsForSharebasedPayments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity-settled share-based payment expense</link:label>
    <link:label xlink:label="ifrs-full_AdjustmentsForSharebasedPayments-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustments for share-based payments</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForSharebasedPayments" xlink:to="ifrs-full_AdjustmentsForSharebasedPayments-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfChangesInEquityTextBlock" xlink:label="abev_DisclosureOfChangesInEquityTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfChangesInEquityTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of changes in equity [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfChangesInEquityTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of changes within equity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfChangesInEquityTextBlock" xlink:to="abev_DisclosureOfChangesInEquityTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityAndLiabilities" xlink:label="ifrs-full_EquityAndLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EquityAndLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_EquityAndLiabilities</link:label>
    <link:label xlink:label="ifrs-full_EquityAndLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total equity and liabilities</link:label>
    <link:label xlink:label="ifrs-full_EquityAndLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAndLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfComponentsInCashAndCashEquivalentsTextBlock" xlink:label="abev_DisclosureOfComponentsInCashAndCashEquivalentsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfComponentsInCashAndCashEquivalentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of components in cash and cash equivalents [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfComponentsInCashAndCashEquivalentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the components of cash and cash equivalents.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfComponentsInCashAndCashEquivalentsTextBlock" xlink:to="abev_DisclosureOfComponentsInCashAndCashEquivalentsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherAdjustmentsForNoncashItems" xlink:label="ifrs-full_OtherAdjustmentsForNoncashItems" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherAdjustmentsForNoncashItems-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other non-cash items included in the profit</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherAdjustmentsForNoncashItems" xlink:to="ifrs-full_OtherAdjustmentsForNoncashItems-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_StatutoryReserveLimitPercentageOfNetIncome" xlink:label="abev_StatutoryReserveLimitPercentageOfNetIncome" xlink:type="locator"/>
    <link:label xlink:label="abev_StatutoryReserveLimitPercentageOfNetIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_StatutoryReserveLimitPercentageOfNetIncome</link:label>
    <link:label xlink:label="abev_StatutoryReserveLimitPercentageOfNetIncome-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statutory reserve limit percentage of net income</link:label>
    <link:label xlink:label="abev_StatutoryReserveLimitPercentageOfNetIncome-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of net income the entity is willing to place in the statutory reserve.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_StatutoryReserveLimitPercentageOfNetIncome" xlink:to="abev_StatutoryReserveLimitPercentageOfNetIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Provisions" xlink:label="ifrs-full_Provisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Provisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provisions</link:label>
    <link:label xlink:label="ifrs-full_Provisions-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total provisions</link:label>
    <link:label xlink:label="ifrs-full_Provisions-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:label xlink:label="ifrs-full_Provisions-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Provisions" xlink:to="ifrs-full_Provisions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_StatutoryReserveLimitOfCapitalStock" xlink:label="abev_StatutoryReserveLimitOfCapitalStock" xlink:type="locator"/>
    <link:label xlink:label="abev_StatutoryReserveLimitOfCapitalStock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_StatutoryReserveLimitOfCapitalStock</link:label>
    <link:label xlink:label="abev_StatutoryReserveLimitOfCapitalStock-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statutory reserve limit of capital stock</link:label>
    <link:label xlink:label="abev_StatutoryReserveLimitOfCapitalStock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of limitation on statutory reserve allocation allowed related to the capital stock.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_StatutoryReserveLimitOfCapitalStock" xlink:to="abev_StatutoryReserveLimitOfCapitalStock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InvestmentReserveLimitPercentageOfNetIncome" xlink:label="abev_InvestmentReserveLimitPercentageOfNetIncome" xlink:type="locator"/>
    <link:label xlink:label="abev_InvestmentReserveLimitPercentageOfNetIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_InvestmentReserveLimitPercentageOfNetIncome</link:label>
    <link:label xlink:label="abev_InvestmentReserveLimitPercentageOfNetIncome-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment reserve limit percentage of net income</link:label>
    <link:label xlink:label="abev_InvestmentReserveLimitPercentageOfNetIncome-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of net income the entity is willing to place in the investment reserve.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InvestmentReserveLimitPercentageOfNetIncome" xlink:to="abev_InvestmentReserveLimitPercentageOfNetIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentPayables" xlink:label="ifrs-full_NoncurrentPayables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentPayables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentPayables</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentPayables-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Non-current</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentPayables-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade payables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentPayables" xlink:to="ifrs-full_NoncurrentPayables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_StatutoryReserveSupplementationCutoffPercentageRelatedToCapitalStock" xlink:label="abev_StatutoryReserveSupplementationCutoffPercentageRelatedToCapitalStock" xlink:type="locator"/>
    <link:label xlink:label="abev_StatutoryReserveSupplementationCutoffPercentageRelatedToCapitalStock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_StatutoryReserveSupplementationCutoffPercentageRelatedToCapitalStock</link:label>
    <link:label xlink:label="abev_StatutoryReserveSupplementationCutoffPercentageRelatedToCapitalStock-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statutory reserve supplementation cutoff percentage related to capital stock</link:label>
    <link:label xlink:label="abev_StatutoryReserveSupplementationCutoffPercentageRelatedToCapitalStock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The statutory reserve supplementation cutoff percentage related to capital stock.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_StatutoryReserveSupplementationCutoffPercentageRelatedToCapitalStock" xlink:to="abev_StatutoryReserveSupplementationCutoffPercentageRelatedToCapitalStock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeAndOtherPayables" xlink:label="ifrs-full_TradeAndOtherPayables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TradeAndOtherPayables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_TradeAndOtherPayables</link:label>
    <link:label xlink:label="ifrs-full_TradeAndOtherPayables-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayables" xlink:to="ifrs-full_TradeAndOtherPayables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DividendPercentageOfNetIncome" xlink:label="abev_DividendPercentageOfNetIncome" xlink:type="locator"/>
    <link:label xlink:label="abev_DividendPercentageOfNetIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of distributed profit</link:label>
    <link:label xlink:label="abev_DividendPercentageOfNetIncome-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend percentage of net income</link:label>
    <link:label xlink:label="abev_DividendPercentageOfNetIncome-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of net income that will be issued as dividends to shareholders.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DividendPercentageOfNetIncome" xlink:to="abev_DividendPercentageOfNetIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentProvisions" xlink:label="ifrs-full_NoncurrentProvisions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentProvisions</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentProvisions-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provisions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentProvisions" xlink:to="ifrs-full_NoncurrentProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentProvisionsForEmployeeBenefits</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee benefits</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:to="ifrs-full_NoncurrentProvisionsForEmployeeBenefits-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ELenJimenesSaMember" xlink:label="abev_ELenJimenesSaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ELenJimenesSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">E. Le&#243;n Jimenes S.A. [member]</link:label>
    <link:label xlink:label="abev_ELenJimenesSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the entity E. Le&#243;n Jimenes S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ELenJimenesSaMember" xlink:to="abev_ELenJimenesSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NumberOfShareOptionsVestedInSharebasedPaymentArrangement" xlink:label="abev_NumberOfShareOptionsVestedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <link:label xlink:label="abev_NumberOfShareOptionsVestedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_NumberOfShareOptionsVestedInSharebasedPaymentArrangement</link:label>
    <link:label xlink:label="abev_NumberOfShareOptionsVestedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of share options vested in share-based payment arrangement</link:label>
    <link:label xlink:label="abev_NumberOfShareOptionsVestedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of share options vested in a share-based payment arrangement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NumberOfShareOptionsVestedInSharebasedPaymentArrangement" xlink:to="abev_NumberOfShareOptionsVestedInSharebasedPaymentArrangement-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_SucosDoBemMember" xlink:label="abev_SucosDoBemMember" xlink:type="locator"/>
    <link:label xlink:label="abev_SucosDoBemMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sucos do Bem [member]</link:label>
    <link:label xlink:label="abev_SucosDoBemMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the entity Sucos do Bem.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_SucosDoBemMember" xlink:to="abev_SucosDoBemMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PutOptionsMember" xlink:label="abev_PutOptionsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_PutOptionsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Put options [member]</link:label>
    <link:label xlink:label="abev_PutOptionsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding put options.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PutOptionsMember" xlink:to="abev_PutOptionsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CerveceraNacionalDominicanaSaMember" xlink:label="abev_CerveceraNacionalDominicanaSaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CerveceraNacionalDominicanaSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cervecer&#237;a Nacional Dominicana S.A. [member]</link:label>
    <link:label xlink:label="abev_CerveceraNacionalDominicanaSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the subsidiary Cervecer&#237;a Nacional Dominicana S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CerveceraNacionalDominicanaSaMember" xlink:to="abev_CerveceraNacionalDominicanaSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EquityAttributableToOwnersOfParent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_EquityAttributableToOwnersOfParent</link:label>
    <link:label xlink:label="ifrs-full_EquityAttributableToOwnersOfParent-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Equity attributable to equity holders of Ambev</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EquitySharesOutstanding" xlink:label="abev_EquitySharesOutstanding" xlink:type="locator"/>
    <link:label xlink:label="abev_EquitySharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_EquitySharesOutstanding</link:label>
    <link:label xlink:label="abev_EquitySharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, common shares (in shares)</link:label>
    <link:label xlink:label="abev_EquitySharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, common shares (in shares)</link:label>
    <link:label xlink:label="abev_EquitySharesOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of equity shares outstanding.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EquitySharesOutstanding" xlink:to="abev_EquitySharesOutstanding-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IssuedCapital" xlink:label="ifrs-full_IssuedCapital" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IssuedCapital-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Issued capital</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapital" xlink:to="ifrs-full_IssuedCapital-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TropicalJuiceMember" xlink:label="abev_TropicalJuiceMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TropicalJuiceMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tropical Juice [member]</link:label>
    <link:label xlink:label="abev_TropicalJuiceMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the entity Tropical Juice.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TropicalJuiceMember" xlink:to="abev_TropicalJuiceMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TreasuryShares" xlink:label="ifrs-full_TreasuryShares" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TreasuryShares-label" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, treasury shares, amount</link:label>
    <link:label xlink:label="ifrs-full_TreasuryShares-label" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, treasury shares, amount</link:label>
    <link:label xlink:label="ifrs-full_TreasuryShares-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_TreasuryShares</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TreasuryShares" xlink:to="ifrs-full_TreasuryShares-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfFinancialPositionAbstract" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_StatementOfFinancialPositionAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of financial position [abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfFinancialPositionAbstract" xlink:to="ifrs-full_StatementOfFinancialPositionAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IssueOfEquityShares" xlink:label="abev_IssueOfEquityShares" xlink:type="locator"/>
    <link:label xlink:label="abev_IssueOfEquityShares-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share issued, common shares (in shares)</link:label>
    <link:label xlink:label="abev_IssueOfEquityShares-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of shares issued during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IssueOfEquityShares" xlink:to="abev_IssueOfEquityShares-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityAbstract" xlink:label="ifrs-full_EquityAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EquityAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAbstract" xlink:to="ifrs-full_EquityAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IncreaseDecreaseThroughSharebasedPaymentTransactionsCapitalReserve" xlink:label="abev_IncreaseDecreaseThroughSharebasedPaymentTransactionsCapitalReserve" xlink:type="locator"/>
    <link:label xlink:label="abev_IncreaseDecreaseThroughSharebasedPaymentTransactionsCapitalReserve-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based payments, capital reserve</link:label>
    <link:label xlink:label="abev_IncreaseDecreaseThroughSharebasedPaymentTransactionsCapitalReserve-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in capital reserve resulting from share-based payment transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IncreaseDecreaseThroughSharebasedPaymentTransactionsCapitalReserve" xlink:to="abev_IncreaseDecreaseThroughSharebasedPaymentTransactionsCapitalReserve-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_LU" xlink:label="country_LU" xlink:type="locator"/>
    <link:label xlink:label="country_LU-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LUXEMBOURG</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_LU" xlink:to="country_LU-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IncreaseDecreaseThroughTreasuryShareTransactionsCapitalReserve" xlink:label="abev_IncreaseDecreaseThroughTreasuryShareTransactionsCapitalReserve" xlink:type="locator"/>
    <link:label xlink:label="abev_IncreaseDecreaseThroughTreasuryShareTransactionsCapitalReserve-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase of shares and result on treasury shares</link:label>
    <link:label xlink:label="abev_IncreaseDecreaseThroughTreasuryShareTransactionsCapitalReserve-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in capital reserve resulting from treasury share transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IncreaseDecreaseThroughTreasuryShareTransactionsCapitalReserve" xlink:to="abev_IncreaseDecreaseThroughTreasuryShareTransactionsCapitalReserve-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFiveYearsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanFiveYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than five years [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFiveYearsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TreasurySharesAcquiredrealizedOutstanding" xlink:label="abev_TreasurySharesAcquiredrealizedOutstanding" xlink:type="locator"/>
    <link:label xlink:label="abev_TreasurySharesAcquiredrealizedOutstanding-label" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, treasury shares acquired/realized (in shares)</link:label>
    <link:label xlink:label="abev_TreasurySharesAcquiredrealizedOutstanding-label" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, treasury shares acquired/realized (in shares)</link:label>
    <link:label xlink:label="abev_TreasurySharesAcquiredrealizedOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TreasurySharesAcquiredrealizedOutstanding</link:label>
    <link:label xlink:label="abev_TreasurySharesAcquiredrealizedOutstanding-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of treasury shares acquired/realized that are outstanding.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TreasurySharesAcquiredrealizedOutstanding" xlink:to="abev_TreasurySharesAcquiredrealizedOutstanding-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than three years and not later than five years [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TreasurySharesAcquiredrealizedOutstandingAmount" xlink:label="abev_TreasurySharesAcquiredrealizedOutstandingAmount" xlink:type="locator"/>
    <link:label xlink:label="abev_TreasurySharesAcquiredrealizedOutstandingAmount-label" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, treasury shares acquired/realized, amount</link:label>
    <link:label xlink:label="abev_TreasurySharesAcquiredrealizedOutstandingAmount-label" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, treasury shares acquired/realized, amount</link:label>
    <link:label xlink:label="abev_TreasurySharesAcquiredrealizedOutstandingAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TreasurySharesAcquiredrealizedOutstandingAmount</link:label>
    <link:label xlink:label="abev_TreasurySharesAcquiredrealizedOutstandingAmount-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The value of treasury shares acquired/realized that are outstanding.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TreasurySharesAcquiredrealizedOutstandingAmount" xlink:to="abev_TreasurySharesAcquiredrealizedOutstandingAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than two years and not later than three years [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TreasurySharesAcquiredrealizedDuringThePeriodAmount" xlink:label="abev_TreasurySharesAcquiredrealizedDuringThePeriodAmount" xlink:type="locator"/>
    <link:label xlink:label="abev_TreasurySharesAcquiredrealizedDuringThePeriodAmount-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TreasurySharesAcquiredrealizedDuringThePeriodAmount</link:label>
    <link:label xlink:label="abev_TreasurySharesAcquiredrealizedDuringThePeriodAmount-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Changes during the year, treasury shares acquired/realized, amount</link:label>
    <link:label xlink:label="abev_TreasurySharesAcquiredrealizedDuringThePeriodAmount-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The value of treasury shares acquired/realized during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TreasurySharesAcquiredrealizedDuringThePeriodAmount" xlink:to="abev_TreasurySharesAcquiredrealizedDuringThePeriodAmount-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than four years and not later than five years [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TreasurySharesAcquiredRealizedDuringThePeriod" xlink:label="abev_TreasurySharesAcquiredRealizedDuringThePeriod" xlink:type="locator"/>
    <link:label xlink:label="abev_TreasurySharesAcquiredRealizedDuringThePeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TreasurySharesAcquiredRealizedDuringThePeriod</link:label>
    <link:label xlink:label="abev_TreasurySharesAcquiredRealizedDuringThePeriod-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Changes during the year, treasury shares acquired/realized (in shares)</link:label>
    <link:label xlink:label="abev_TreasurySharesAcquiredRealizedDuringThePeriod-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of treasury shares acquired/realized during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TreasurySharesAcquiredRealizedDuringThePeriod" xlink:to="abev_TreasurySharesAcquiredRealizedDuringThePeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than three years and not later than four years [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than one year and not later than five years [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TreasurySharesChangeDuringThePeriodValue" xlink:label="abev_TreasurySharesChangeDuringThePeriodValue" xlink:type="locator"/>
    <link:label xlink:label="abev_TreasurySharesChangeDuringThePeriodValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TreasurySharesChangeDuringThePeriodValue</link:label>
    <link:label xlink:label="abev_TreasurySharesChangeDuringThePeriodValue-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Changes during the year, treasury shares, amount</link:label>
    <link:label xlink:label="abev_TreasurySharesChangeDuringThePeriodValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The value of the changes to treasury shares during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TreasurySharesChangeDuringThePeriodValue" xlink:to="abev_TreasurySharesChangeDuringThePeriodValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanOneYearMember" xlink:label="ifrs-full_LaterThanOneYearMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanOneYearMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than one year [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearMember" xlink:to="ifrs-full_LaterThanOneYearMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than one year and not later than two years [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TreasurySharesHeld" xlink:label="abev_TreasurySharesHeld" xlink:type="locator"/>
    <link:label xlink:label="abev_TreasurySharesHeld-label" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, treasury shares (in shares)</link:label>
    <link:label xlink:label="abev_TreasurySharesHeld-label" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, treasury shares (in shares)</link:label>
    <link:label xlink:label="abev_TreasurySharesHeld-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TreasurySharesHeld</link:label>
    <link:label xlink:label="abev_TreasurySharesHeld-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of treasury shares held by the entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TreasurySharesHeld" xlink:to="abev_TreasurySharesHeld-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TreasurySharesChangeDuringThePeriod" xlink:label="abev_TreasurySharesChangeDuringThePeriod" xlink:type="locator"/>
    <link:label xlink:label="abev_TreasurySharesChangeDuringThePeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TreasurySharesChangeDuringThePeriod</link:label>
    <link:label xlink:label="abev_TreasurySharesChangeDuringThePeriod-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Changes during the year, treasury shares (in shares)</link:label>
    <link:label xlink:label="abev_TreasurySharesChangeDuringThePeriod-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The change in treasury shares during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TreasurySharesChangeDuringThePeriod" xlink:to="abev_TreasurySharesChangeDuringThePeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfNetIncomeReservesTextBlock" xlink:label="abev_DisclosureOfNetIncomeReservesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfNetIncomeReservesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of net income reserves [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfNetIncomeReservesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of net income reserves.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfNetIncomeReservesTextBlock" xlink:to="abev_DisclosureOfNetIncomeReservesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="ifrs-full_NotLaterThanOneYearMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NotLaterThanOneYearMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Not later than one year [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotLaterThanOneYearMember" xlink:to="ifrs-full_NotLaterThanOneYearMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IncreaseDecreaseInReserveDestinationEquity" xlink:label="abev_IncreaseDecreaseInReserveDestinationEquity" xlink:type="locator"/>
    <link:label xlink:label="abev_IncreaseDecreaseInReserveDestinationEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Destination of net income</link:label>
    <link:label xlink:label="abev_IncreaseDecreaseInReserveDestinationEquity-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in reserve destination regarding equity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IncreaseDecreaseInReserveDestinationEquity" xlink:to="abev_IncreaseDecreaseInReserveDestinationEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AggregatedTimeBandsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregated time bands [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_AggregatedTimeBandsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NetIncomeReservesMember" xlink:label="abev_NetIncomeReservesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_NetIncomeReservesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net income reserves [member]</link:label>
    <link:label xlink:label="abev_NetIncomeReservesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding net income reserves.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NetIncomeReservesMember" xlink:to="abev_NetIncomeReservesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NetIncomeReservesStatutoryReserveMember" xlink:label="abev_NetIncomeReservesStatutoryReserveMember" xlink:type="locator"/>
    <link:label xlink:label="abev_NetIncomeReservesStatutoryReserveMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net income reserves, statutory reserve [member]</link:label>
    <link:label xlink:label="abev_NetIncomeReservesStatutoryReserveMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the net income reserves relating to the statutory reserve.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NetIncomeReservesStatutoryReserveMember" xlink:to="abev_NetIncomeReservesStatutoryReserveMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NetIncomeReservesInvestmentReserveMember" xlink:label="abev_NetIncomeReservesInvestmentReserveMember" xlink:type="locator"/>
    <link:label xlink:label="abev_NetIncomeReservesInvestmentReserveMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net income reserves, investment reserve [member]</link:label>
    <link:label xlink:label="abev_NetIncomeReservesInvestmentReserveMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the net income reserves relating to the investment reserves.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NetIncomeReservesInvestmentReserveMember" xlink:to="abev_NetIncomeReservesInvestmentReserveMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NetIncomeReservesInterestOnCapitalAndDividendsProposedMember" xlink:label="abev_NetIncomeReservesInterestOnCapitalAndDividendsProposedMember" xlink:type="locator"/>
    <link:label xlink:label="abev_NetIncomeReservesInterestOnCapitalAndDividendsProposedMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net income reserves, interest on capital and dividends proposed [member]</link:label>
    <link:label xlink:label="abev_NetIncomeReservesInterestOnCapitalAndDividendsProposedMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the net income reserves regarding the interest on capital and dividends proposed.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NetIncomeReservesInterestOnCapitalAndDividendsProposedMember" xlink:to="abev_NetIncomeReservesInterestOnCapitalAndDividendsProposedMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NetIncomeReservesFiscalIncentiveMember" xlink:label="abev_NetIncomeReservesFiscalIncentiveMember" xlink:type="locator"/>
    <link:label xlink:label="abev_NetIncomeReservesFiscalIncentiveMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net income reserves, fiscal incentive [member]</link:label>
    <link:label xlink:label="abev_NetIncomeReservesFiscalIncentiveMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the net income reserves related to fiscal incentive.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NetIncomeReservesFiscalIncentiveMember" xlink:to="abev_NetIncomeReservesFiscalIncentiveMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfInterestOnShareholdersEquityAndDividendsTextBlock" xlink:label="abev_DisclosureOfInterestOnShareholdersEquityAndDividendsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfInterestOnShareholdersEquityAndDividendsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of interest on shareholders' equity and dividends [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfInterestOnShareholdersEquityAndDividendsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of interest on shareholders' equity and dividends.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfInterestOnShareholdersEquityAndDividendsTextBlock" xlink:to="abev_DisclosureOfInterestOnShareholdersEquityAndDividendsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Level3OfFairValueHierarchyMember" xlink:label="ifrs-full_Level3OfFairValueHierarchyMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Level3OfFairValueHierarchyMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Level 3 of fair value hierarchy [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level3OfFairValueHierarchyMember" xlink:to="ifrs-full_Level3OfFairValueHierarchyMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DistributionCosts" xlink:label="ifrs-full_DistributionCosts" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DistributionCosts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DistributionCosts</link:label>
    <link:label xlink:label="ifrs-full_DistributionCosts-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distribution expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DistributionCosts" xlink:to="ifrs-full_DistributionCosts-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prescribed dividends</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent" xlink:to="ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All levels of fair value hierarchy [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:to="ifrs-full_AllLevelsOfFairValueHierarchyMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TotalDividendsPaid" xlink:label="abev_TotalDividendsPaid" xlink:type="locator"/>
    <link:label xlink:label="abev_TotalDividendsPaid-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total amount of dividends and interest on shareholder&#180;s equity</link:label>
    <link:label xlink:label="abev_TotalDividendsPaid-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total of distributed and accrued to distribute</link:label>
    <link:label xlink:label="abev_TotalDividendsPaid-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The total dividends paid.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TotalDividendsPaid" xlink:to="abev_TotalDividendsPaid-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfDetailedInformationAboutSubsidiariesTextBlock" xlink:label="abev_DisclosureOfDetailedInformationAboutSubsidiariesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfDetailedInformationAboutSubsidiariesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about subsidiaries [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfDetailedInformationAboutSubsidiariesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about subsidiaries.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfDetailedInformationAboutSubsidiariesTextBlock" xlink:to="abev_DisclosureOfDetailedInformationAboutSubsidiariesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Level2OfFairValueHierarchyMember" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Level2OfFairValueHierarchyMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Level 2 of fair value hierarchy [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level2OfFairValueHierarchyMember" xlink:to="ifrs-full_Level2OfFairValueHierarchyMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Level1OfFairValueHierarchyMember" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Level1OfFairValueHierarchyMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Level 1 of fair value hierarchy [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level1OfFairValueHierarchyMember" xlink:to="ifrs-full_Level1OfFairValueHierarchyMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of exchange rate fluctuations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CerveceriaYMalteriaQuilmesSaicaYGMember" xlink:label="abev_CerveceriaYMalteriaQuilmesSaicaYGMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CerveceriaYMalteriaQuilmesSaicaYGMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CERVECERIA Y MALTERIA QUILMES SAICA Y G [member]</link:label>
    <link:label xlink:label="abev_CerveceriaYMalteriaQuilmesSaicaYGMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The subsidiary CERVECERIA Y MALTERIA QUILMES SAICA Y G.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CerveceriaYMalteriaQuilmesSaicaYGMember" xlink:to="abev_CerveceriaYMalteriaQuilmesSaicaYGMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_PA" xlink:label="country_PA" xlink:type="locator"/>
    <link:label xlink:label="country_PA-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PANAMA</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_PA" xlink:to="country_PA-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EarningsPerShareExplanatory" xlink:label="ifrs-full_EarningsPerShareExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EarningsPerShareExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings per share [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EarningsPerShareExplanatory" xlink:to="ifrs-full_EarningsPerShareExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CrbsSaMember" xlink:label="abev_CrbsSaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CrbsSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CRBS S.A. [member]</link:label>
    <link:label xlink:label="abev_CrbsSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity CRBS S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CrbsSaMember" xlink:to="abev_CrbsSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CervejariaZxMember" xlink:label="abev_CervejariaZxMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CervejariaZxMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CERVEJARIA Z.X. [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CervejariaZxMember" xlink:to="abev_CervejariaZxMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CerveceriaBolivianaNacionalSaMember" xlink:label="abev_CerveceriaBolivianaNacionalSaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CerveceriaBolivianaNacionalSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CERVECERIA BOLIVIANA NACIONAL S.A. [member]</link:label>
    <link:label xlink:label="abev_CerveceriaBolivianaNacionalSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The subsidiary CERVECERIA BOLIVIANA NACIONAL S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CerveceriaBolivianaNacionalSaMember" xlink:to="abev_CerveceriaBolivianaNacionalSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ArosucoAromasESucosLtdaMember" xlink:label="abev_ArosucoAromasESucosLtdaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ArosucoAromasESucosLtdaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">AROSUCO AROMAS E SUCOS LTDA. [member]</link:label>
    <link:label xlink:label="abev_ArosucoAromasESucosLtdaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The subsidiary AROSUCO AROMAS E SUCOS LTDA.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ArosucoAromasESucosLtdaMember" xlink:to="abev_ArosucoAromasESucosLtdaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AmortisationExpense" xlink:label="ifrs-full_AmortisationExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AmortisationExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_AmortisationExpense</link:label>
    <link:label xlink:label="ifrs-full_AmortisationExpense-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Amortization of intangible assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmortisationExpense" xlink:to="ifrs-full_AmortisationExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CerveceriaChileSaMember" xlink:label="abev_CerveceriaChileSaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CerveceriaChileSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CERVECERIA CHILE S.A. [member]</link:label>
    <link:label xlink:label="abev_CerveceriaChileSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The subsidiary CERVECERIA CHILE S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CerveceriaChileSaMember" xlink:to="abev_CerveceriaChileSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_JaluaSpainSlMember" xlink:label="abev_JaluaSpainSlMember" xlink:type="locator"/>
    <link:label xlink:label="abev_JaluaSpainSlMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">JALUA SPAIN, S.L. [member]</link:label>
    <link:label xlink:label="abev_JaluaSpainSlMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The subsidiary JALUA SPAIN, S.L.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_JaluaSpainSlMember" xlink:to="abev_JaluaSpainSlMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinanceCosts" xlink:label="ifrs-full_FinanceCosts" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinanceCosts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_FinanceCosts</link:label>
    <link:label xlink:label="ifrs-full_FinanceCosts-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Finance cost</link:label>
    <link:label xlink:label="ifrs-full_FinanceCosts-label" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceCosts" xlink:to="ifrs-full_FinanceCosts-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinanceIncome" xlink:label="ifrs-full_FinanceIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinanceIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance income</link:label>
    <link:label xlink:label="ifrs-full_FinanceIncome-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncome" xlink:to="ifrs-full_FinanceIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_LabattBrewingCompanyLimitedMember" xlink:label="abev_LabattBrewingCompanyLimitedMember" xlink:type="locator"/>
    <link:label xlink:label="abev_LabattBrewingCompanyLimitedMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LABATT BREWING COMPANY LIMITED [member]</link:label>
    <link:label xlink:label="abev_LabattBrewingCompanyLimitedMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The subsidiary LABATT BREWING COMPANY LIMITED.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_LabattBrewingCompanyLimitedMember" xlink:to="abev_LabattBrewingCompanyLimitedMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CerveceriaParaguayaSaMember" xlink:label="abev_CerveceriaParaguayaSaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CerveceriaParaguayaSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CERVECERIA PARAGUAYA S.A. [member]</link:label>
    <link:label xlink:label="abev_CerveceriaParaguayaSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The subsidiary CERVECERIA PARAGUAYA S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CerveceriaParaguayaSaMember" xlink:to="abev_CerveceriaParaguayaSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_LinthalSaMember" xlink:label="abev_LinthalSaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_LinthalSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LINTHAL S.A. [member]</link:label>
    <link:label xlink:label="abev_LinthalSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The subsidiary LINTHAL S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_LinthalSaMember" xlink:to="abev_LinthalSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GrossProfit" xlink:label="ifrs-full_GrossProfit" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GrossProfit-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross profit</link:label>
    <link:label xlink:label="ifrs-full_GrossProfit-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Gross profit</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmbevLuxembourgMember" xlink:label="abev_AmbevLuxembourgMember" xlink:type="locator"/>
    <link:label xlink:label="abev_AmbevLuxembourgMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">AMBEV LUXEMBOURG [member]</link:label>
    <link:label xlink:label="abev_AmbevLuxembourgMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The subsidiary AMBEV LUXEMBOURG.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmbevLuxembourgMember" xlink:to="abev_AmbevLuxembourgMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IndustriasDelAtlnticoSociedadAnonimaMember" xlink:label="abev_IndustriasDelAtlnticoSociedadAnonimaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_IndustriasDelAtlnticoSociedadAnonimaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">INDUSTRIAS DEL ATL&#193;NTICO, SOCIEDAD ANONIMA [member]</link:label>
    <link:label xlink:label="abev_IndustriasDelAtlnticoSociedadAnonimaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The subsidiary INDUSTRIAS DEL ATL&#193;NTICO, SOCIEDAD ANONIMA.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IndustriasDelAtlnticoSociedadAnonimaMember" xlink:to="abev_IndustriasDelAtlnticoSociedadAnonimaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_PY" xlink:label="country_PY" xlink:type="locator"/>
    <link:label xlink:label="country_PY-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PARAGUAY</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_PY" xlink:to="country_PY-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossAttributableToAbstract" xlink:label="ifrs-full_ProfitLossAttributableToAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProfitLossAttributableToAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Attributable to:</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToAbstract" xlink:to="ifrs-full_ProfitLossAttributableToAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CerveceriaYMalteriaPayssandSaMember" xlink:label="abev_CerveceriaYMalteriaPayssandSaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CerveceriaYMalteriaPayssandSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CERVECERIA Y MALTERIA PAYSSAND&#218; S.A. [member]</link:label>
    <link:label xlink:label="abev_CerveceriaYMalteriaPayssandSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The subsidiary CERVECERIA Y MALTERIA PAYSSAND&#218; S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CerveceriaYMalteriaPayssandSaMember" xlink:to="abev_CerveceriaYMalteriaPayssandSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Equity holders of Ambev</link:label>
    <link:label xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ProfitLossAttributableToOwnersOfParent</link:label>
    <link:label xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income, attributable to equity holders of Ambev</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:to="ifrs-full_ProfitLossAttributableToOwnersOfParent-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_MonthiersSociedadAnonimaMember" xlink:label="abev_MonthiersSociedadAnonimaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_MonthiersSociedadAnonimaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MONTHIERS SOCIEDAD ANONIMA [member]</link:label>
    <link:label xlink:label="abev_MonthiersSociedadAnonimaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity MONTHIERS SOCIEDAD ANONIMA.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_MonthiersSociedadAnonimaMember" xlink:to="abev_MonthiersSociedadAnonimaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossFromOperatingActivities" xlink:label="ifrs-full_ProfitLossFromOperatingActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProfitLossFromOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income from operations (EBIT)</link:label>
    <link:label xlink:label="ifrs-full_ProfitLossFromOperatingActivities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income from operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromOperatingActivities" xlink:to="ifrs-full_ProfitLossFromOperatingActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_FundacaoZerrennerMember" xlink:label="abev_FundacaoZerrennerMember" xlink:type="locator"/>
    <link:label xlink:label="abev_FundacaoZerrennerMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fundacao Zerrenner [member]</link:label>
    <link:label xlink:label="abev_FundacaoZerrennerMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents The Funda&#231;&#227;o Antonio e Helena Zerrenner Institui&#231;&#227;o Nacional de Benefici&#234;ncia which is one of Ambev S.A.&#8217;s shareholders.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_FundacaoZerrennerMember" xlink:to="abev_FundacaoZerrennerMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PercentageOfOwnershipHeldByARelatedParty" xlink:label="abev_PercentageOfOwnershipHeldByARelatedParty" xlink:type="locator"/>
    <link:label xlink:label="abev_PercentageOfOwnershipHeldByARelatedParty-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_PercentageOfOwnershipHeldByARelatedParty</link:label>
    <link:label xlink:label="abev_PercentageOfOwnershipHeldByARelatedParty-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of ownership held by a related party</link:label>
    <link:label xlink:label="abev_PercentageOfOwnershipHeldByARelatedParty-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of ownership of the company that is held by a related party.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PercentageOfOwnershipHeldByARelatedParty" xlink:to="abev_PercentageOfOwnershipHeldByARelatedParty-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncreaseDecreaseInCashAndCashEquivalents</link:label>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net increase/(decrease) in cash and cash equivalents</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents" xlink:to="ifrs-full_IncreaseDecreaseInCashAndCashEquivalents-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_Dividends1Member" xlink:label="abev_Dividends1Member" xlink:type="locator"/>
    <link:label xlink:label="abev_Dividends1Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends 1 [member]</link:label>
    <link:label xlink:label="abev_Dividends1Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the first dividends issued.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_Dividends1Member" xlink:to="abev_Dividends1Member-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeStatementAbstract" xlink:label="ifrs-full_IncomeStatementAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeStatementAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit or loss [abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeStatementAbstract" xlink:to="ifrs-full_IncomeStatementAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_Dividends2Member" xlink:label="abev_Dividends2Member" xlink:type="locator"/>
    <link:label xlink:label="abev_Dividends2Member-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends 2 [member]</link:label>
    <link:label xlink:label="abev_Dividends2Member-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the second set of dividends issued.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_Dividends2Member" xlink:to="abev_Dividends2Member-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CarryingValueAdjustmentsAccountingAdjustmentsForTransactionsBetweenShareholdersMember" xlink:label="abev_CarryingValueAdjustmentsAccountingAdjustmentsForTransactionsBetweenShareholdersMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CarryingValueAdjustmentsAccountingAdjustmentsForTransactionsBetweenShareholdersMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying value adjustments, accounting adjustments for transactions between shareholders [member]</link:label>
    <link:label xlink:label="abev_CarryingValueAdjustmentsAccountingAdjustmentsForTransactionsBetweenShareholdersMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The carrying value adjustments that affect the accounting adjustments for transactions between shareholders.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CarryingValueAdjustmentsAccountingAdjustmentsForTransactionsBetweenShareholdersMember" xlink:to="abev_CarryingValueAdjustmentsAccountingAdjustmentsForTransactionsBetweenShareholdersMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CarryingValueAdjustmentsBusinessCombinationMember" xlink:label="abev_CarryingValueAdjustmentsBusinessCombinationMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CarryingValueAdjustmentsBusinessCombinationMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying value adjustments, business combination [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CarryingValueAdjustmentsBusinessCombinationMember" xlink:to="abev_CarryingValueAdjustmentsBusinessCombinationMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfChangesInCarryingValueOfEquityTextBlock" xlink:label="abev_DisclosureOfChangesInCarryingValueOfEquityTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfChangesInCarryingValueOfEquityTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of changes in carrying value of equity [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfChangesInCarryingValueOfEquityTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of changes in carrying value in equity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfChangesInCarryingValueOfEquityTextBlock" xlink:to="abev_DisclosureOfChangesInCarryingValueOfEquityTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ExpensesIncurredByARelatedParty" xlink:label="abev_ExpensesIncurredByARelatedParty" xlink:type="locator"/>
    <link:label xlink:label="abev_ExpensesIncurredByARelatedParty-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_ExpensesIncurredByARelatedParty</link:label>
    <link:label xlink:label="abev_ExpensesIncurredByARelatedParty-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses incurred by a related party</link:label>
    <link:label xlink:label="abev_ExpensesIncurredByARelatedParty-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of expenses incurred by a related party during the period.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ExpensesIncurredByARelatedParty" xlink:to="abev_ExpensesIncurredByARelatedParty-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CarryingValueAdjustmentsPutOptionGrantedOnSubsidiaryMember" xlink:label="abev_CarryingValueAdjustmentsPutOptionGrantedOnSubsidiaryMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CarryingValueAdjustmentsPutOptionGrantedOnSubsidiaryMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying value adjustments, put option granted on subsidiary [member]</link:label>
    <link:label xlink:label="abev_CarryingValueAdjustmentsPutOptionGrantedOnSubsidiaryMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the put option granted on subsidiary that affects the carrying value adjustments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CarryingValueAdjustmentsPutOptionGrantedOnSubsidiaryMember" xlink:to="abev_CarryingValueAdjustmentsPutOptionGrantedOnSubsidiaryMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_RetireesMember" xlink:label="abev_RetireesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_RetireesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retirees [member]</link:label>
    <link:label xlink:label="abev_RetireesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Employees who are retired.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_RetireesMember" xlink:to="abev_RetireesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CarryingValueAdjustmentsGainsOfNoncontrollingInterestsShareMember" xlink:label="abev_CarryingValueAdjustmentsGainsOfNoncontrollingInterestsShareMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CarryingValueAdjustmentsGainsOfNoncontrollingInterestsShareMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying value adjustments, gains/ of non-controlling interest&#180;s share [member]</link:label>
    <link:label xlink:label="abev_CarryingValueAdjustmentsGainsOfNoncontrollingInterestsShareMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the gains/ of non-controlling interest&#180;s share that affect carrying value adjustments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CarryingValueAdjustmentsGainsOfNoncontrollingInterestsShareMember" xlink:to="abev_CarryingValueAdjustmentsGainsOfNoncontrollingInterestsShareMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ActiveEmployeesMember" xlink:label="abev_ActiveEmployeesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ActiveEmployeesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Active employees [member]</link:label>
    <link:label xlink:label="abev_ActiveEmployeesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Employees who are still active with the company.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ActiveEmployeesMember" xlink:to="abev_ActiveEmployeesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CarryingValueAdjustmentsTranslationReservesMember" xlink:label="abev_CarryingValueAdjustmentsTranslationReservesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CarryingValueAdjustmentsTranslationReservesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying value adjustments, translation reserves [member]</link:label>
    <link:label xlink:label="abev_CarryingValueAdjustmentsTranslationReservesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the translation reserves affecting the carrying value adjustments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CarryingValueAdjustmentsTranslationReservesMember" xlink:to="abev_CarryingValueAdjustmentsTranslationReservesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AssetLeasingAgreementTerm" xlink:label="abev_AssetLeasingAgreementTerm" xlink:type="locator"/>
    <link:label xlink:label="abev_AssetLeasingAgreementTerm-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_AssetLeasingAgreementTerm</link:label>
    <link:label xlink:label="abev_AssetLeasingAgreementTerm-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset leasing agreement, term</link:label>
    <link:label xlink:label="abev_AssetLeasingAgreementTerm-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The term of an asset leasing agreement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AssetLeasingAgreementTerm" xlink:to="abev_AssetLeasingAgreementTerm-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners" xlink:label="ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains/(losses) of controlling interest&#180;s share</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners" xlink:to="ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CarryingValueAdjustmentsActuarialGainslossesMember" xlink:label="abev_CarryingValueAdjustmentsActuarialGainslossesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CarryingValueAdjustmentsActuarialGainslossesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying value adjustments, actuarial gains/losses [member]</link:label>
    <link:label xlink:label="abev_CarryingValueAdjustmentsActuarialGainslossesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the actuarial gains/losses that affect the carrying value adjustments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CarryingValueAdjustmentsActuarialGainslossesMember" xlink:to="abev_CarryingValueAdjustmentsActuarialGainslossesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CarryingValueAdjustmentsCashFlowHedgeMember" xlink:label="abev_CarryingValueAdjustmentsCashFlowHedgeMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CarryingValueAdjustmentsCashFlowHedgeMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying value adjustments, cash flow hedge [member]</link:label>
    <link:label xlink:label="abev_CarryingValueAdjustmentsCashFlowHedgeMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the cash flow hedge that affects the carrying value adjustments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CarryingValueAdjustmentsCashFlowHedgeMember" xlink:to="abev_CarryingValueAdjustmentsCashFlowHedgeMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfKeyManagementPersonnelCompensationTextBlock" xlink:label="abev_DisclosureOfKeyManagementPersonnelCompensationTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfKeyManagementPersonnelCompensationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of key management personnel compensation [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfKeyManagementPersonnelCompensationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of key management personnel compensation.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfKeyManagementPersonnelCompensationTextBlock" xlink:to="abev_DisclosureOfKeyManagementPersonnelCompensationTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureForTheBasisOfDividendsTextBlock" xlink:label="abev_DisclosureForTheBasisOfDividendsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureForTheBasisOfDividendsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure for the basis of dividends [text block]</link:label>
    <link:label xlink:label="abev_DisclosureForTheBasisOfDividendsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure for the basis of dividends.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureForTheBasisOfDividendsTextBlock" xlink:to="abev_DisclosureForTheBasisOfDividendsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AnnualLeasePayment" xlink:label="abev_AnnualLeasePayment" xlink:type="locator"/>
    <link:label xlink:label="abev_AnnualLeasePayment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_AnnualLeasePayment</link:label>
    <link:label xlink:label="abev_AnnualLeasePayment-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual lease payment</link:label>
    <link:label xlink:label="abev_AnnualLeasePayment-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount payable annually for a lease.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AnnualLeasePayment" xlink:to="abev_AnnualLeasePayment-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AnheuserBuschIncMember" xlink:label="abev_AnheuserBuschIncMember" xlink:type="locator"/>
    <link:label xlink:label="abev_AnheuserBuschIncMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Anheuser-Busch, Inc [member]</link:label>
    <link:label xlink:label="abev_AnheuserBuschIncMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Anheuser-Busch, Inc.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AnheuserBuschIncMember" xlink:to="abev_AnheuserBuschIncMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PrescribedDividends" xlink:label="abev_PrescribedDividends" xlink:type="locator"/>
    <link:label xlink:label="abev_PrescribedDividends-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_PrescribedDividends</link:label>
    <link:label xlink:label="abev_PrescribedDividends-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prescribed dividends</link:label>
    <link:label xlink:label="abev_PrescribedDividends-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The value of the dividends prescribed.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PrescribedDividends" xlink:to="abev_PrescribedDividends-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AnheuserBuschPackagingGroupIncMember" xlink:label="abev_AnheuserBuschPackagingGroupIncMember" xlink:type="locator"/>
    <link:label xlink:label="abev_AnheuserBuschPackagingGroupIncMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Anheuser-Busch Packaging Group Inc. [member]</link:label>
    <link:label xlink:label="abev_AnheuserBuschPackagingGroupIncMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Anheuser-Busch Packaging Group Inc.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AnheuserBuschPackagingGroupIncMember" xlink:to="abev_AnheuserBuschPackagingGroupIncMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_RetainedEarningsBasisForDividendsAndDestinations" xlink:label="abev_RetainedEarningsBasisForDividendsAndDestinations" xlink:type="locator"/>
    <link:label xlink:label="abev_RetainedEarningsBasisForDividendsAndDestinations-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_RetainedEarningsBasisForDividendsAndDestinations</link:label>
    <link:label xlink:label="abev_RetainedEarningsBasisForDividendsAndDestinations-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Retained earnings basis for dividends and destinations</link:label>
    <link:label xlink:label="abev_RetainedEarningsBasisForDividendsAndDestinations-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The retained earnings basis for dividends and destinations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_RetainedEarningsBasisForDividendsAndDestinations" xlink:to="abev_RetainedEarningsBasisForDividendsAndDestinations-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmbrewSaMember" xlink:label="abev_AmbrewSaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_AmbrewSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ambrew S.A. [member]</link:label>
    <link:label xlink:label="abev_AmbrewSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Ambrew S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmbrewSaMember" xlink:to="abev_AmbrewSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InvestmentsInAssociates" xlink:label="ifrs-full_InvestmentsInAssociates" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InvestmentsInAssociates-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in associates</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentsInAssociates" xlink:to="ifrs-full_InvestmentsInAssociates-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CompaiaCerveceraAmbevPeruSacMember" xlink:label="abev_CompaiaCerveceraAmbevPeruSacMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CompaiaCerveceraAmbevPeruSacMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compa&#241;ia Cervecera Ambev Peru S.A.C. [member]</link:label>
    <link:label xlink:label="abev_CompaiaCerveceraAmbevPeruSacMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Compa&#241;ia Cervecera Ambev Peru S.A.C.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CompaiaCerveceraAmbevPeruSacMember" xlink:to="abev_CompaiaCerveceraAmbevPeruSacMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AnheuserBuschInbevServicesLlcMember" xlink:label="abev_AnheuserBuschInbevServicesLlcMember" xlink:type="locator"/>
    <link:label xlink:label="abev_AnheuserBuschInbevServicesLlcMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Anheuser-Busch Inbev Services LLC [member]</link:label>
    <link:label xlink:label="abev_AnheuserBuschInbevServicesLlcMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Anheuser-Busch Inbev Services LLC.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AnheuserBuschInbevServicesLlcMember" xlink:to="abev_AnheuserBuschInbevServicesLlcMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AnheuserBuschInbevUsaLlcMember" xlink:label="abev_AnheuserBuschInbevUsaLlcMember" xlink:type="locator"/>
    <link:label xlink:label="abev_AnheuserBuschInbevUsaLlcMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Anheuser-Busch Inbev USA LLC [member]</link:label>
    <link:label xlink:label="abev_AnheuserBuschInbevUsaLlcMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Anheuser-Busch Inbev USA LLC.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AnheuserBuschInbevUsaLlcMember" xlink:to="abev_AnheuserBuschInbevUsaLlcMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InbevBelgiumNvMember" xlink:label="abev_InbevBelgiumNvMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InbevBelgiumNvMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inbev Belgium N.V. [member]</link:label>
    <link:label xlink:label="abev_InbevBelgiumNvMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Inbev Belgium N.V.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InbevBelgiumNvMember" xlink:to="abev_InbevBelgiumNvMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_BogotBeerCompanyBbcSasMember" xlink:label="abev_BogotBeerCompanyBbcSasMember" xlink:type="locator"/>
    <link:label xlink:label="abev_BogotBeerCompanyBbcSasMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bogot&#225; Beer Company BBC S.A.S. [member]</link:label>
    <link:label xlink:label="abev_BogotBeerCompanyBbcSasMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Bogot&#225; Beer Company BBC S.A.S.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_BogotBeerCompanyBbcSasMember" xlink:to="abev_BogotBeerCompanyBbcSasMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CerveceriaModeloDeMexicoSDeRlDeCvMember" xlink:label="abev_CerveceriaModeloDeMexicoSDeRlDeCvMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CerveceriaModeloDeMexicoSDeRlDeCvMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cervecer&#237;a Modelo de Mexico S. de R.L. de C.V. [member]</link:label>
    <link:label xlink:label="abev_CerveceriaModeloDeMexicoSDeRlDeCvMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Cervecer&#237;a Modelo de Mexico S. de R.L. de C.V.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CerveceriaModeloDeMexicoSDeRlDeCvMember" xlink:to="abev_CerveceriaModeloDeMexicoSDeRlDeCvMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfTotalLiabilitiesTextBlock" xlink:label="abev_DisclosureOfTotalLiabilitiesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfTotalLiabilitiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of total liabilities [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfTotalLiabilitiesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of total liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfTotalLiabilitiesTextBlock" xlink:to="abev_DisclosureOfTotalLiabilitiesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterbrewInternationalBvMember" xlink:label="abev_InterbrewInternationalBvMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InterbrewInternationalBvMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interbrew International B.V. [member]</link:label>
    <link:label xlink:label="abev_InterbrewInternationalBvMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Interbrew International B.V.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterbrewInternationalBvMember" xlink:to="abev_InterbrewInternationalBvMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_UnsecuredBankLoansMember" xlink:label="abev_UnsecuredBankLoansMember" xlink:type="locator"/>
    <link:label xlink:label="abev_UnsecuredBankLoansMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unsecured bank loans [member]</link:label>
    <link:label xlink:label="abev_UnsecuredBankLoansMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding unsecured bank loans.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_UnsecuredBankLoansMember" xlink:to="abev_UnsecuredBankLoansMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DebenturesAndUnsecuredBondIssuesMember" xlink:label="abev_DebenturesAndUnsecuredBondIssuesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_DebenturesAndUnsecuredBondIssuesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debentures and unsecured bond issues [member]</link:label>
    <link:label xlink:label="abev_DebenturesAndUnsecuredBondIssuesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding debentures and unsecured bond issues.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DebenturesAndUnsecuredBondIssuesMember" xlink:to="abev_DebenturesAndUnsecuredBondIssuesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CerveceiraModeloDeGuadalajaraSaMember" xlink:label="abev_CerveceiraModeloDeGuadalajaraSaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CerveceiraModeloDeGuadalajaraSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cervecer&#237;a Modelo de Guadalajara S.A. [member]</link:label>
    <link:label xlink:label="abev_CerveceiraModeloDeGuadalajaraSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Cervecer&#237;a Modelo de Guadalajara S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CerveceiraModeloDeGuadalajaraSaMember" xlink:to="abev_CerveceiraModeloDeGuadalajaraSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_SecuredBankLoansMember" xlink:label="abev_SecuredBankLoansMember" xlink:type="locator"/>
    <link:label xlink:label="abev_SecuredBankLoansMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured bank loans [member]</link:label>
    <link:label xlink:label="abev_SecuredBankLoansMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the secured bank loans.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_SecuredBankLoansMember" xlink:to="abev_SecuredBankLoansMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_FinancialLeasingMember" xlink:label="abev_FinancialLeasingMember" xlink:type="locator"/>
    <link:label xlink:label="abev_FinancialLeasingMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial leasing [member]</link:label>
    <link:label xlink:label="abev_FinancialLeasingMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding financial leasing.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_FinancialLeasingMember" xlink:to="abev_FinancialLeasingMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_UY" xlink:label="country_UY" xlink:type="locator"/>
    <link:label xlink:label="country_UY-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">URUGUAY</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_UY" xlink:to="country_UY-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_BavariaSaMember" xlink:label="abev_BavariaSaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_BavariaSaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bavaria S.A. [member]</link:label>
    <link:label xlink:label="abev_BavariaSaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The entity Bavaria S.A.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_BavariaSaMember" xlink:to="abev_BavariaSaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_OtherUnsecuredLoansMember" xlink:label="abev_OtherUnsecuredLoansMember" xlink:type="locator"/>
    <link:label xlink:label="abev_OtherUnsecuredLoansMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other unsecured loans [member]</link:label>
    <link:label xlink:label="abev_OtherUnsecuredLoansMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding other secured loans.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_OtherUnsecuredLoansMember" xlink:to="abev_OtherUnsecuredLoansMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome</link:label>
    <link:label xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Recognized in other comprehensive income</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeTaxRelatingToHedgesOfInvestmentsInEquityInstrumentsOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToHedgesOfInvestmentsInEquityInstrumentsOfOtherComprehensiveIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeTaxRelatingToHedgesOfInvestmentsInEquityInstrumentsOfOtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment hedge</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxRelatingToHedgesOfInvestmentsInEquityInstrumentsOfOtherComprehensiveIncome" xlink:to="ifrs-full_IncomeTaxRelatingToHedgesOfInvestmentsInEquityInstrumentsOfOtherComprehensiveIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Full recognition of actuarial gains/(losses)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome" xlink:to="ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DebtDenominatedInCADDollarsMember" xlink:label="abev_DebtDenominatedInCADDollarsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_DebtDenominatedInCADDollarsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt denominated in CAD dollars [member]</link:label>
    <link:label xlink:label="abev_DebtDenominatedInCADDollarsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding debt denominated in CAD dollars.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DebtDenominatedInCADDollarsMember" xlink:to="abev_DebtDenominatedInCADDollarsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DebtDenominatedInUSDMember" xlink:label="abev_DebtDenominatedInUSDMember" xlink:type="locator"/>
    <link:label xlink:label="abev_DebtDenominatedInUSDMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt denominated in USD [member]</link:label>
    <link:label xlink:label="abev_DebtDenominatedInUSDMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding debt denominated in USD.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DebtDenominatedInUSDMember" xlink:to="abev_DebtDenominatedInUSDMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome</link:label>
    <link:label xlink:label="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gains/losses on translation of other foreign operations</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:to="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_BrazilianDevelopmentBankBasketDebtMember" xlink:label="abev_BrazilianDevelopmentBankBasketDebtMember" xlink:type="locator"/>
    <link:label xlink:label="abev_BrazilianDevelopmentBankBasketDebtMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brazilian Development Bank basket debt [member]</link:label>
    <link:label xlink:label="abev_BrazilianDevelopmentBankBasketDebtMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the basket debt from the Brazilian Development Bank.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_BrazilianDevelopmentBankBasketDebtMember" xlink:to="abev_BrazilianDevelopmentBankBasketDebtMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DebtDenominatedInOtherLatinAmericanCurrenciesMember" xlink:label="abev_DebtDenominatedInOtherLatinAmericanCurrenciesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_DebtDenominatedInOtherLatinAmericanCurrenciesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt denominated in other Latin American currencies [member]</link:label>
    <link:label xlink:label="abev_DebtDenominatedInOtherLatinAmericanCurrenciesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding debt denominated in other Latin American currencies.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DebtDenominatedInOtherLatinAmericanCurrenciesMember" xlink:to="abev_DebtDenominatedInOtherLatinAmericanCurrenciesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherCurrentAssets" xlink:label="ifrs-full_OtherCurrentAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherCurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentAssets" xlink:to="ifrs-full_OtherCurrentAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome</link:label>
    <link:label xlink:label="ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flow hedge - gains/(losses)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:to="ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ReaisDebenturesRelatedToCDIMember" xlink:label="abev_ReaisDebenturesRelatedToCDIMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ReaisDebenturesRelatedToCDIMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reais debentures related to CDI [member]</link:label>
    <link:label xlink:label="abev_ReaisDebenturesRelatedToCDIMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Reais debentures related to CDI.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ReaisDebenturesRelatedToCDIMember" xlink:to="abev_ReaisDebenturesRelatedToCDIMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TJLPBNDESDenominatedDebtMember" xlink:label="abev_TJLPBNDESDenominatedDebtMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TJLPBNDESDenominatedDebtMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TJLP BNDES denominated debt [member]</link:label>
    <link:label xlink:label="abev_TJLPBNDESDenominatedDebtMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding TJLP BNDES denominated debt.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TJLPBNDESDenominatedDebtMember" xlink:to="abev_TJLPBNDESDenominatedDebtMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ReaisDebtRelatedToICMSMember" xlink:label="abev_ReaisDebtRelatedToICMSMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ReaisDebtRelatedToICMSMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reais debt related to ICMS [member]</link:label>
    <link:label xlink:label="abev_ReaisDebtRelatedToICMSMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Reais debt related to ICMS.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ReaisDebtRelatedToICMSMember" xlink:to="abev_ReaisDebtRelatedToICMSMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TradeReceivablesRelatedPartyTransactions" xlink:label="abev_TradeReceivablesRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="abev_TradeReceivablesRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade receivables, related parties</link:label>
    <link:label xlink:label="abev_TradeReceivablesRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of trade receivables resulting from related party transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TradeReceivablesRelatedPartyTransactions" xlink:to="abev_TradeReceivablesRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ReaisDebtMember" xlink:label="abev_ReaisDebtMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ReaisDebtMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reais debt [member]</link:label>
    <link:label xlink:label="abev_ReaisDebtMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Reais debt.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ReaisDebtMember" xlink:to="abev_ReaisDebtMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TradePayablesRelatedPartyTransactions" xlink:label="abev_TradePayablesRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="abev_TradePayablesRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TradePayablesRelatedPartyTransactions</link:label>
    <link:label xlink:label="abev_TradePayablesRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Trade payables, related parties</link:label>
    <link:label xlink:label="abev_TradePayablesRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of trade payables resulting from related party transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TradePayablesRelatedPartyTransactions" xlink:to="abev_TradePayablesRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherNoncurrentAssets" xlink:label="ifrs-full_OtherNoncurrentAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherNoncurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_OtherNoncurrentAssets</link:label>
    <link:label xlink:label="ifrs-full_OtherNoncurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentAssets" xlink:to="ifrs-full_OtherNoncurrentAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RecognisedLiabilitiesDefinedBenefitPlan" xlink:label="ifrs-full_RecognisedLiabilitiesDefinedBenefitPlan" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RecognisedLiabilitiesDefinedBenefitPlan-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_RecognisedLiabilitiesDefinedBenefitPlan</link:label>
    <link:label xlink:label="ifrs-full_RecognisedLiabilitiesDefinedBenefitPlan-label" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Net liability</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RecognisedLiabilitiesDefinedBenefitPlan" xlink:to="ifrs-full_RecognisedLiabilitiesDefinedBenefitPlan-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_OtherTradeReceivablesRelatedPartyTransactions" xlink:label="abev_OtherTradeReceivablesRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="abev_OtherTradeReceivablesRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other trade receivables, related parties</link:label>
    <link:label xlink:label="abev_OtherTradeReceivablesRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of other trade receivables resulting from related party transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_OtherTradeReceivablesRelatedPartyTransactions" xlink:to="abev_OtherTradeReceivablesRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DividendsPayableRelatedPartyTransactions" xlink:label="abev_DividendsPayableRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="abev_DividendsPayableRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends payables, related parties</link:label>
    <link:label xlink:label="abev_DividendsPayableRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of dividends payable resulting from related party transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DividendsPayableRelatedPartyTransactions" xlink:to="abev_DividendsPayableRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share of result of joint ventures</link:label>
    <link:label xlink:label="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share of result of joint ventures</link:label>
    <link:label xlink:label="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Share of result of joint ventures</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_OtherTradePayablesRelatedPartyTransactions" xlink:label="abev_OtherTradePayablesRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="abev_OtherTradePayablesRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_OtherTradePayablesRelatedPartyTransactions</link:label>
    <link:label xlink:label="abev_OtherTradePayablesRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other trade payables, related parties</link:label>
    <link:label xlink:label="abev_OtherTradePayablesRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of other trade payables resulting from related party transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_OtherTradePayablesRelatedPartyTransactions" xlink:to="abev_OtherTradePayablesRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_BorrowingsAndInterestPayableRelatedPartyTransactions" xlink:label="abev_BorrowingsAndInterestPayableRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="abev_BorrowingsAndInterestPayableRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_BorrowingsAndInterestPayableRelatedPartyTransactions</link:label>
    <link:label xlink:label="abev_BorrowingsAndInterestPayableRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Borrowings and interest payable, related parties</link:label>
    <link:label xlink:label="abev_BorrowingsAndInterestPayableRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of borrowings and interest payable resulting from related party transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_BorrowingsAndInterestPayableRelatedPartyTransactions" xlink:to="abev_BorrowingsAndInterestPayableRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentRecognisedAssetsDefinedBenefitPlan" xlink:label="ifrs-full_NoncurrentRecognisedAssetsDefinedBenefitPlan" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentRecognisedAssetsDefinedBenefitPlan-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee benefits</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentRecognisedAssetsDefinedBenefitPlan" xlink:to="ifrs-full_NoncurrentRecognisedAssetsDefinedBenefitPlan-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_RoyaltiesAndBenefitsRelatedPartyTransactions" xlink:label="abev_RoyaltiesAndBenefitsRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="abev_RoyaltiesAndBenefitsRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_RoyaltiesAndBenefitsRelatedPartyTransactions</link:label>
    <link:label xlink:label="abev_RoyaltiesAndBenefitsRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Royalties/benefits, related parties</link:label>
    <link:label xlink:label="abev_RoyaltiesAndBenefitsRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of royalties and benefit expenses resulting from related party transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_RoyaltiesAndBenefitsRelatedPartyTransactions" xlink:to="abev_RoyaltiesAndBenefitsRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions" xlink:label="abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions</link:label>
    <link:label xlink:label="abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Buying/service fees/rentals, related parties</link:label>
    <link:label xlink:label="abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of buying, service fees and rental expenses resulting from related party transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions" xlink:to="abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instruments</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentDerivativeFinancialAssets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:to="ifrs-full_NoncurrentDerivativeFinancialAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfDetailedInformationAboutNoncashItemsTextBlock" xlink:label="abev_DisclosureOfDetailedInformationAboutNoncashItemsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfDetailedInformationAboutNoncashItemsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about non-cash items [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfDetailedInformationAboutNoncashItemsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of detailed information about non-cash items.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfDetailedInformationAboutNoncashItemsTextBlock" xlink:to="abev_DisclosureOfDetailedInformationAboutNoncashItemsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NetFinanceCostRelatedPartyTransactions" xlink:label="abev_NetFinanceCostRelatedPartyTransactions" xlink:type="locator"/>
    <link:label xlink:label="abev_NetFinanceCostRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_NetFinanceCostRelatedPartyTransactions</link:label>
    <link:label xlink:label="abev_NetFinanceCostRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net finance cost, related parties</link:label>
    <link:label xlink:label="abev_NetFinanceCostRelatedPartyTransactions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of net finance cost resulting from related party transactions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NetFinanceCostRelatedPartyTransactions" xlink:to="abev_NetFinanceCostRelatedPartyTransactions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfTermsAndDebtRepaymentsTextBlock" xlink:label="abev_DisclosureOfTermsAndDebtRepaymentsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfTermsAndDebtRepaymentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of terms and debt repayments [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfTermsAndDebtRepaymentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of terms and debt repayments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfTermsAndDebtRepaymentsTextBlock" xlink:to="abev_DisclosureOfTermsAndDebtRepaymentsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NoncashItemsAcquisitionOfInvestmentsPayables" xlink:label="abev_NoncashItemsAcquisitionOfInvestmentsPayables" xlink:type="locator"/>
    <link:label xlink:label="abev_NoncashItemsAcquisitionOfInvestmentsPayables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition of investments payables</link:label>
    <link:label xlink:label="abev_NoncashItemsAcquisitionOfInvestmentsPayables-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The acquisition of investments payables in a non-cash transaction.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NoncashItemsAcquisitionOfInvestmentsPayables" xlink:to="abev_NoncashItemsAcquisitionOfInvestmentsPayables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NoncashItemsCashFinancingCostOtherThanInterests" xlink:label="abev_NoncashItemsCashFinancingCostOtherThanInterests" xlink:type="locator"/>
    <link:label xlink:label="abev_NoncashItemsCashFinancingCostOtherThanInterests-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash financing cost other than interests</link:label>
    <link:label xlink:label="abev_NoncashItemsCashFinancingCostOtherThanInterests-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash financing cost other than interests in a non-cash transaction.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NoncashItemsCashFinancingCostOtherThanInterests" xlink:to="abev_NoncashItemsCashFinancingCostOtherThanInterests-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NoncashItemsAcquisitionOfPropertyPlantAndEquipment" xlink:label="abev_NoncashItemsAcquisitionOfPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="abev_NoncashItemsAcquisitionOfPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_NoncashItemsAcquisitionOfPropertyPlantAndEquipment</link:label>
    <link:label xlink:label="abev_NoncashItemsAcquisitionOfPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition of property, plant and equipment</link:label>
    <link:label xlink:label="abev_NoncashItemsAcquisitionOfPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The acquisition of property, plant and equipment in a non-cash transaction.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NoncashItemsAcquisitionOfPropertyPlantAndEquipment" xlink:to="abev_NoncashItemsAcquisitionOfPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NoncashItemsReclassificationOfFinanceCashFlowToOperationalCashFlow" xlink:label="abev_NoncashItemsReclassificationOfFinanceCashFlowToOperationalCashFlow" xlink:type="locator"/>
    <link:label xlink:label="abev_NoncashItemsReclassificationOfFinanceCashFlowToOperationalCashFlow-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair value of option granted</link:label>
    <link:label xlink:label="abev_NoncashItemsReclassificationOfFinanceCashFlowToOperationalCashFlow-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The reclassification of finance cash flow to operational cash flow.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NoncashItemsReclassificationOfFinanceCashFlowToOperationalCashFlow" xlink:to="abev_NoncashItemsReclassificationOfFinanceCashFlowToOperationalCashFlow-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instruments</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentDerivativeFinancialLiabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_NoncurrentDerivativeFinancialLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NoncashItemsOthers" xlink:label="abev_NoncashItemsOthers" xlink:type="locator"/>
    <link:label xlink:label="abev_NoncashItemsOthers-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_NoncashItemsOthers</link:label>
    <link:label xlink:label="abev_NoncashItemsOthers-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Others</link:label>
    <link:label xlink:label="abev_NoncashItemsOthers-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other non-cash items.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NoncashItemsOthers" xlink:to="abev_NoncashItemsOthers-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmountUpToTheAssetCeilingNotExceedingThePresentValueOfFutureBenefitsInADefinedBenefitPlan" xlink:label="abev_AmountUpToTheAssetCeilingNotExceedingThePresentValueOfFutureBenefitsInADefinedBenefitPlan" xlink:type="locator"/>
    <link:label xlink:label="abev_AmountUpToTheAssetCeilingNotExceedingThePresentValueOfFutureBenefitsInADefinedBenefitPlan-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_AmountUpToTheAssetCeilingNotExceedingThePresentValueOfFutureBenefitsInADefinedBenefitPlan</link:label>
    <link:label xlink:label="abev_AmountUpToTheAssetCeilingNotExceedingThePresentValueOfFutureBenefitsInADefinedBenefitPlan-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount up to the asset ceiling not exceeding the present value of future benefits in a defined benefit plan</link:label>
    <link:label xlink:label="abev_AmountUpToTheAssetCeilingNotExceedingThePresentValueOfFutureBenefitsInADefinedBenefitPlan-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount up to the asset ceiling not exceeding the present value of future benefits in a defined benefit plan.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmountUpToTheAssetCeilingNotExceedingThePresentValueOfFutureBenefitsInADefinedBenefitPlan" xlink:to="abev_AmountUpToTheAssetCeilingNotExceedingThePresentValueOfFutureBenefitsInADefinedBenefitPlan-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TwoHealthCarePlansFromFundacaoZerrennerMember" xlink:label="abev_TwoHealthCarePlansFromFundacaoZerrennerMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TwoHealthCarePlansFromFundacaoZerrennerMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Two health care plans from Fundacao Zerrenner [member]</link:label>
    <link:label xlink:label="abev_TwoHealthCarePlansFromFundacaoZerrennerMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding two health care plans from Fundacao Zerrenner.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TwoHealthCarePlansFromFundacaoZerrennerMember" xlink:to="abev_TwoHealthCarePlansFromFundacaoZerrennerMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AssetCeiling" xlink:label="abev_AssetCeiling" xlink:type="locator"/>
    <link:label xlink:label="abev_AssetCeiling-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_AssetCeiling</link:label>
    <link:label xlink:label="abev_AssetCeiling-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Asset ceiling</link:label>
    <link:label xlink:label="abev_AssetCeiling-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The present value of benefits available from refunds in the defined benefit plan or reductions in future contributions to the defined benefit plan.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AssetCeiling" xlink:to="abev_AssetCeiling-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DilutedEarningsLossPerShare" xlink:label="ifrs-full_DilutedEarningsLossPerShare" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DilutedEarningsLossPerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diluted earnings per share &#8211; common - R$ (in BRL per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShare" xlink:to="ifrs-full_DilutedEarningsLossPerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DefinedBenefitObligationFundedPortionAtPresentValue" xlink:label="abev_DefinedBenefitObligationFundedPortionAtPresentValue" xlink:type="locator"/>
    <link:label xlink:label="abev_DefinedBenefitObligationFundedPortionAtPresentValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_DefinedBenefitObligationFundedPortionAtPresentValue</link:label>
    <link:label xlink:label="abev_DefinedBenefitObligationFundedPortionAtPresentValue-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Present value of funded obligations</link:label>
    <link:label xlink:label="abev_DefinedBenefitObligationFundedPortionAtPresentValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The present value of the funded portion, without deducting any plan assets, of expected future payments required to settle the obligation resulting from employee service in the current and prior periods.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DefinedBenefitObligationFundedPortionAtPresentValue" xlink:to="abev_DefinedBenefitObligationFundedPortionAtPresentValue-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DefinedBenefitObligationUnfundedPortionAtPresentValue" xlink:label="abev_DefinedBenefitObligationUnfundedPortionAtPresentValue" xlink:type="locator"/>
    <link:label xlink:label="abev_DefinedBenefitObligationUnfundedPortionAtPresentValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_DefinedBenefitObligationUnfundedPortionAtPresentValue</link:label>
    <link:label xlink:label="abev_DefinedBenefitObligationUnfundedPortionAtPresentValue-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Present value of unfunded obligations</link:label>
    <link:label xlink:label="abev_DefinedBenefitObligationUnfundedPortionAtPresentValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The present value unfunded portion, without deducting any plan assets, of expected future payments required to settle the obligation resulting from employee service in the current and prior periods.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DefinedBenefitObligationUnfundedPortionAtPresentValue" xlink:to="abev_DefinedBenefitObligationUnfundedPortionAtPresentValue-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EmployeeBenefitLiabilitiesMember" xlink:label="abev_EmployeeBenefitLiabilitiesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_EmployeeBenefitLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee benefit liabilities [member]</link:label>
    <link:label xlink:label="abev_EmployeeBenefitLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding employee benefit liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EmployeeBenefitLiabilitiesMember" xlink:to="abev_EmployeeBenefitLiabilitiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BasicEarningsLossPerShare" xlink:label="ifrs-full_BasicEarningsLossPerShare" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BasicEarningsLossPerShare-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basic earnings per share &#8211; common - R$ (in BRL per share)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShare" xlink:to="ifrs-full_BasicEarningsLossPerShare-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EmployeeBenefitsAssetsMember" xlink:label="abev_EmployeeBenefitsAssetsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_EmployeeBenefitsAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee benefits assets [member]</link:label>
    <link:label xlink:label="abev_EmployeeBenefitsAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding employee benefits assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EmployeeBenefitsAssetsMember" xlink:to="abev_EmployeeBenefitsAssetsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_OtherLongTermEmployeeBenefitLiabilities" xlink:label="abev_OtherLongTermEmployeeBenefitLiabilities" xlink:type="locator"/>
    <link:label xlink:label="abev_OtherLongTermEmployeeBenefitLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_OtherLongTermEmployeeBenefitLiabilities</link:label>
    <link:label xlink:label="abev_OtherLongTermEmployeeBenefitLiabilities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other long term employee benefits</link:label>
    <link:label xlink:label="abev_OtherLongTermEmployeeBenefitLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The other long term employee benefit liabilities of the entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_OtherLongTermEmployeeBenefitLiabilities" xlink:to="abev_OtherLongTermEmployeeBenefitLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentPayablesToTradeSuppliers" xlink:label="ifrs-full_NoncurrentPayablesToTradeSuppliers" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentPayablesToTradeSuppliers-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade payables, noncurrent</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentPayablesToTradeSuppliers" xlink:to="ifrs-full_NoncurrentPayablesToTradeSuppliers-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" xlink:label="ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TaxExpenseOtherThanIncomeTaxExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_TaxExpenseOtherThanIncomeTaxExpense</link:label>
    <link:label xlink:label="ifrs-full_TaxExpenseOtherThanIncomeTaxExpense-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Excise duty</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" xlink:to="ifrs-full_TaxExpenseOtherThanIncomeTaxExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AcquisitionsThroughStockExchangeNetDefinedBenefitLiabilityAsset" xlink:label="abev_AcquisitionsThroughStockExchangeNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="abev_AcquisitionsThroughStockExchangeNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisitions through exchange transaction of shareholdings</link:label>
    <link:label xlink:label="abev_AcquisitionsThroughStockExchangeNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisitions through exchange transaction of shareholdings</link:label>
    <link:label xlink:label="abev_AcquisitionsThroughStockExchangeNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">he increase (decrease) in the net defined benefit liability (asset) resulting from acquisitions through stock exchange.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AcquisitionsThroughStockExchangeNetDefinedBenefitLiabilityAsset" xlink:to="abev_AcquisitionsThroughStockExchangeNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfTheChangeInFairValueOfThePlanAssetsTextBlock" xlink:label="abev_DisclosureOfTheChangeInFairValueOfThePlanAssetsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfTheChangeInFairValueOfThePlanAssetsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of the change in fair value of the plan assets [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfTheChangeInFairValueOfThePlanAssetsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the changes in fair value of the plan assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfTheChangeInFairValueOfThePlanAssetsTextBlock" xlink:to="abev_DisclosureOfTheChangeInFairValueOfThePlanAssetsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DepreciationExpense" xlink:label="ifrs-full_DepreciationExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DepreciationExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_DepreciationExpense</link:label>
    <link:label xlink:label="ifrs-full_DepreciationExpense-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Depreciation and impairment of property, plant and equipment</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationExpense" xlink:to="ifrs-full_DepreciationExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AdiministrativeCostsNetDefinedBenefitLiabilityAsset" xlink:label="abev_AdiministrativeCostsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="abev_AdiministrativeCostsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Administrative costs</link:label>
    <link:label xlink:label="abev_AdiministrativeCostsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Administrative costs</link:label>
    <link:label xlink:label="abev_AdiministrativeCostsNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the net defined benefit liability (asset) resulting from administrative costs.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AdiministrativeCostsNetDefinedBenefitLiabilityAsset" xlink:to="abev_AdiministrativeCostsNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ReclassificationNetDefinedBenefitLiabilityAsset" xlink:label="abev_ReclassificationNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <link:label xlink:label="abev_ReclassificationNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassifications</link:label>
    <link:label xlink:label="abev_ReclassificationNetDefinedBenefitLiabilityAsset-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in the net defined benefit liability (asset) resulting from changes due to reclassification.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ReclassificationNetDefinedBenefitLiabilityAsset" xlink:to="abev_ReclassificationNetDefinedBenefitLiabilityAsset-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfDefinedBenefitObligationTextBlock" xlink:label="abev_DisclosureOfDefinedBenefitObligationTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfDefinedBenefitObligationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of defined benefit obligation [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfDefinedBenefitObligationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of defined benefit obligations.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfDefinedBenefitObligationTextBlock" xlink:to="abev_DisclosureOfDefinedBenefitObligationTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfAssetCeilingTextBlock" xlink:label="abev_DisclosureOfAssetCeilingTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfAssetCeilingTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of asset ceiling [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfAssetCeilingTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the entity asset ceiling.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfAssetCeilingTextBlock" xlink:to="abev_DisclosureOfAssetCeilingTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherEmployeeExpense" xlink:label="ifrs-full_OtherEmployeeExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherEmployeeExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other personnel cost</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherEmployeeExpense" xlink:to="ifrs-full_OtherEmployeeExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EmployeeBenefitsExpense" xlink:label="ifrs-full_EmployeeBenefitsExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EmployeeBenefitsExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_EmployeeBenefitsExpense</link:label>
    <link:label xlink:label="ifrs-full_EmployeeBenefitsExpense-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EmployeeBenefitsExpense" xlink:to="ifrs-full_EmployeeBenefitsExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contributions to defined contribution plans</link:label>
    <link:label xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Post-employment benefit expense, defined contribution plans</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans" xlink:to="ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EmployeeBenefitRevenueexpensesAllocatedToCostOfSalesMember" xlink:label="abev_EmployeeBenefitRevenueexpensesAllocatedToCostOfSalesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_EmployeeBenefitRevenueexpensesAllocatedToCostOfSalesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee benefit revenue (expenses) allocated to cost of sales [member]</link:label>
    <link:label xlink:label="abev_EmployeeBenefitRevenueexpensesAllocatedToCostOfSalesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the employee benefit revenue (expenses) allocated to cost of sales.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EmployeeBenefitRevenueexpensesAllocatedToCostOfSalesMember" xlink:to="abev_EmployeeBenefitRevenueexpensesAllocatedToCostOfSalesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EmployeeBenefitRevenueExpensesAllocatedToSalesAndMarketingExpensesMember" xlink:label="abev_EmployeeBenefitRevenueExpensesAllocatedToSalesAndMarketingExpensesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_EmployeeBenefitRevenueExpensesAllocatedToSalesAndMarketingExpensesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee benefit revenue (expenses) allocated to sales and marketing expenses [member]</link:label>
    <link:label xlink:label="abev_EmployeeBenefitRevenueExpensesAllocatedToSalesAndMarketingExpensesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the employee benefit revenue (expenses) allocated to sales and marketing expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EmployeeBenefitRevenueExpensesAllocatedToSalesAndMarketingExpensesMember" xlink:to="abev_EmployeeBenefitRevenueExpensesAllocatedToSalesAndMarketingExpensesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfDefinedBenefitPlansRecognizedInTheIncomeStatementTextBlock" xlink:label="abev_DisclosureOfDefinedBenefitPlansRecognizedInTheIncomeStatementTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfDefinedBenefitPlansRecognizedInTheIncomeStatementTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of defined benefit plans recognized in the income statement [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfDefinedBenefitPlansRecognizedInTheIncomeStatementTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the defined benefit plans recognized in the income statement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfDefinedBenefitPlansRecognizedInTheIncomeStatementTextBlock" xlink:to="abev_DisclosureOfDefinedBenefitPlansRecognizedInTheIncomeStatementTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfEmployeeBenefitRevenueExpensesAllocationInIncomeStatementTextBlock" xlink:label="abev_DisclosureOfEmployeeBenefitRevenueExpensesAllocationInIncomeStatementTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfEmployeeBenefitRevenueExpensesAllocationInIncomeStatementTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of employee benefit revenue (expenses) allocation in income statement [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfEmployeeBenefitRevenueExpensesAllocationInIncomeStatementTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of employee benefit revenue (expenses) allocation in the income statement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfEmployeeBenefitRevenueExpensesAllocationInIncomeStatementTextBlock" xlink:to="abev_DisclosureOfEmployeeBenefitRevenueExpensesAllocationInIncomeStatementTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase in liabilities for defined benefit plans</link:label>
    <link:label xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Employee Benefit Revenue/(Expenses) Allocation</link:label>
    <link:label xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans-label" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Total expense for employee benefits</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:to="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WagesAndSalaries" xlink:label="ifrs-full_WagesAndSalaries" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WagesAndSalaries-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Wages and salaries</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WagesAndSalaries" xlink:to="ifrs-full_WagesAndSalaries-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EmployeeBenefitRevenueExpensesAllocatedToExceptionalItemsMember" xlink:label="abev_EmployeeBenefitRevenueExpensesAllocatedToExceptionalItemsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_EmployeeBenefitRevenueExpensesAllocatedToExceptionalItemsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee benefit revenue (expenses) allocated to exceptional items [member]</link:label>
    <link:label xlink:label="abev_EmployeeBenefitRevenueExpensesAllocatedToExceptionalItemsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the employee benefit revenue (expenses) allocated to exceptional items.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EmployeeBenefitRevenueExpensesAllocatedToExceptionalItemsMember" xlink:to="abev_EmployeeBenefitRevenueExpensesAllocatedToExceptionalItemsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EmployeeBenefitRevenueExpensesAllocatedToAdministrativeExpensesMember" xlink:label="abev_EmployeeBenefitRevenueExpensesAllocatedToAdministrativeExpensesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_EmployeeBenefitRevenueExpensesAllocatedToAdministrativeExpensesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee benefit revenue (expenses) allocated to administrative expenses [member]</link:label>
    <link:label xlink:label="abev_EmployeeBenefitRevenueExpensesAllocatedToAdministrativeExpensesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the employee benefit revenue (expenses) allocated to administrative expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EmployeeBenefitRevenueExpensesAllocatedToAdministrativeExpensesMember" xlink:to="abev_EmployeeBenefitRevenueExpensesAllocatedToAdministrativeExpensesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:label="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other recoverable taxes</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax" xlink:to="ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SocialSecurityContributions" xlink:label="ifrs-full_SocialSecurityContributions" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SocialSecurityContributions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Social security contributions</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SocialSecurityContributions" xlink:to="ifrs-full_SocialSecurityContributions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EmployeeBenefitRevenueExpensesAllocatedToFinancialExpensesMember" xlink:label="abev_EmployeeBenefitRevenueExpensesAllocatedToFinancialExpensesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_EmployeeBenefitRevenueExpensesAllocatedToFinancialExpensesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee benefit revenue (expenses) allocated to financial expenses [member]</link:label>
    <link:label xlink:label="abev_EmployeeBenefitRevenueExpensesAllocatedToFinancialExpensesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the employee benefit revenue (expenses) allocated to financial expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EmployeeBenefitRevenueExpensesAllocatedToFinancialExpensesMember" xlink:to="abev_EmployeeBenefitRevenueExpensesAllocatedToFinancialExpensesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:label="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of shares options (in shares)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:to="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xlink:label="ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of accounting judgements and estimates [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory" xlink:to="ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ActuarialAssumptionOfLifeExpectancyOfAFemaleAfter65YearsOfAge" xlink:label="abev_ActuarialAssumptionOfLifeExpectancyOfAFemaleAfter65YearsOfAge" xlink:type="locator"/>
    <link:label xlink:label="abev_ActuarialAssumptionOfLifeExpectancyOfAFemaleAfter65YearsOfAge-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Life expectation for an over 65 years old female</link:label>
    <link:label xlink:label="abev_ActuarialAssumptionOfLifeExpectancyOfAFemaleAfter65YearsOfAge-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The life expectancy after 65 years of age of a female used as a significant actuarial assumption to determine the present value of a defined benefit obligation.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ActuarialAssumptionOfLifeExpectancyOfAFemaleAfter65YearsOfAge" xlink:to="abev_ActuarialAssumptionOfLifeExpectancyOfAFemaleAfter65YearsOfAge-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfActuarialAssumptionsOfTheEntityTextBlock" xlink:label="abev_DisclosureOfActuarialAssumptionsOfTheEntityTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfActuarialAssumptionsOfTheEntityTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of actuarial assumptions of the entity [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfActuarialAssumptionsOfTheEntityTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of actuarial assumption of the entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfActuarialAssumptionsOfTheEntityTextBlock" xlink:to="abev_DisclosureOfActuarialAssumptionsOfTheEntityTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ActuarialAssumptionOfDentalClaimsCostTrendRates" xlink:label="abev_ActuarialAssumptionOfDentalClaimsCostTrendRates" xlink:type="locator"/>
    <link:label xlink:label="abev_ActuarialAssumptionOfDentalClaimsCostTrendRates-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dental claims trend rate</link:label>
    <link:label xlink:label="abev_ActuarialAssumptionOfDentalClaimsCostTrendRates-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dental cost trend rate used as significant actuarial assumption to determine the present value of a defined benefit obligation.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ActuarialAssumptionOfDentalClaimsCostTrendRates" xlink:to="abev_ActuarialAssumptionOfDentalClaimsCostTrendRates-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ActuarialAssumptionOfLifeExpectancyOfAMaleAfter65YearsOfAge" xlink:label="abev_ActuarialAssumptionOfLifeExpectancyOfAMaleAfter65YearsOfAge" xlink:type="locator"/>
    <link:label xlink:label="abev_ActuarialAssumptionOfLifeExpectancyOfAMaleAfter65YearsOfAge-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Life expectation for an over 65 years old male</link:label>
    <link:label xlink:label="abev_ActuarialAssumptionOfLifeExpectancyOfAMaleAfter65YearsOfAge-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The life expectancy after 65 years of age of a male used as a significant actuarial assumption to determine the present value of a defined benefit obligation.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ActuarialAssumptionOfLifeExpectancyOfAMaleAfter65YearsOfAge" xlink:to="abev_ActuarialAssumptionOfLifeExpectancyOfAMaleAfter65YearsOfAge-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PercentageOfReasonablyPossibleIncreaseDecreaseInActuarialAssumption" xlink:label="abev_PercentageOfReasonablyPossibleIncreaseDecreaseInActuarialAssumption" xlink:type="locator"/>
    <link:label xlink:label="abev_PercentageOfReasonablyPossibleIncreaseDecreaseInActuarialAssumption-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in assumption, percentage (Rate)</link:label>
    <link:label xlink:label="abev_PercentageOfReasonablyPossibleIncreaseDecreaseInActuarialAssumption-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The reasonably possible percentage of the increase (decrease) in the actuarial assumption used to determine the present value of defined benefit obligation</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PercentageOfReasonablyPossibleIncreaseDecreaseInActuarialAssumption" xlink:to="abev_PercentageOfReasonablyPossibleIncreaseDecreaseInActuarialAssumption-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BankAndSimilarCharges" xlink:label="ifrs-full_BankAndSimilarCharges" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BankAndSimilarCharges-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_BankAndSimilarCharges</link:label>
    <link:label xlink:label="ifrs-full_BankAndSimilarCharges-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Bank guarantee expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BankAndSimilarCharges" xlink:to="ifrs-full_BankAndSimilarCharges-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmountOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:label="abev_AmountOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:type="locator"/>
    <link:label xlink:label="abev_AmountOfReasonablyPossibleIncreaseInActuarialAssumption-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in assumption, year</link:label>
    <link:label xlink:label="abev_AmountOfReasonablyPossibleIncreaseInActuarialAssumption-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of reasonably possible increase in actuarial assumption.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmountOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:to="abev_AmountOfReasonablyPossibleIncreaseInActuarialAssumption-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PlanAssetsOfDefinedBenefitPlanComponentPercentage" xlink:label="abev_PlanAssetsOfDefinedBenefitPlanComponentPercentage" xlink:type="locator"/>
    <link:label xlink:label="abev_PlanAssetsOfDefinedBenefitPlanComponentPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan assets percentage</link:label>
    <link:label xlink:label="abev_PlanAssetsOfDefinedBenefitPlanComponentPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The component percentage of the plan assets of a defined benefit plan.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PlanAssetsOfDefinedBenefitPlanComponentPercentage" xlink:to="abev_PlanAssetsOfDefinedBenefitPlanComponentPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PlanAssetsGovernmentBondsMember" xlink:label="abev_PlanAssetsGovernmentBondsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_PlanAssetsGovernmentBondsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan assets, government bonds [member]</link:label>
    <link:label xlink:label="abev_PlanAssetsGovernmentBondsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The government bond portion of plan assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PlanAssetsGovernmentBondsMember" xlink:to="abev_PlanAssetsGovernmentBondsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PlanAssetsEquityInstrumentsMember" xlink:label="abev_PlanAssetsEquityInstrumentsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_PlanAssetsEquityInstrumentsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan assets, equity instruments [member]</link:label>
    <link:label xlink:label="abev_PlanAssetsEquityInstrumentsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The equity instruments portion of plan assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PlanAssetsEquityInstrumentsMember" xlink:to="abev_PlanAssetsEquityInstrumentsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PlanAssetsCorporateBondsMember" xlink:label="abev_PlanAssetsCorporateBondsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_PlanAssetsCorporateBondsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan assets, corporate bonds [member]</link:label>
    <link:label xlink:label="abev_PlanAssetsCorporateBondsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The corporate bonds portion of plan assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PlanAssetsCorporateBondsMember" xlink:to="abev_PlanAssetsCorporateBondsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PlanAssetsOthersMember" xlink:label="abev_PlanAssetsOthersMember" xlink:type="locator"/>
    <link:label xlink:label="abev_PlanAssetsOthersMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan assets, others [member]</link:label>
    <link:label xlink:label="abev_PlanAssetsOthersMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The other portion of plan assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PlanAssetsOthersMember" xlink:to="abev_PlanAssetsOthersMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PlanAssetsPropertyMember" xlink:label="abev_PlanAssetsPropertyMember" xlink:type="locator"/>
    <link:label xlink:label="abev_PlanAssetsPropertyMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan assets, property [member]</link:label>
    <link:label xlink:label="abev_PlanAssetsPropertyMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The property portion of plan assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PlanAssetsPropertyMember" xlink:to="abev_PlanAssetsPropertyMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PlanAssetsCashMember" xlink:label="abev_PlanAssetsCashMember" xlink:type="locator"/>
    <link:label xlink:label="abev_PlanAssetsCashMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan assets, cash [member]</link:label>
    <link:label xlink:label="abev_PlanAssetsCashMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash portion of plan assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PlanAssetsCashMember" xlink:to="abev_PlanAssetsCashMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage" xlink:label="abev_RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage" xlink:type="locator"/>
    <link:label xlink:label="abev_RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan assets percentage, rated</link:label>
    <link:label xlink:label="abev_RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The component percentage of the rated plan assets of a defined benefit plan.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage" xlink:to="abev_RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage" xlink:label="abev_UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage" xlink:type="locator"/>
    <link:label xlink:label="abev_UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan assets percentage, unrated</link:label>
    <link:label xlink:label="abev_UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The component percentage of the unrated plan assets of a defined benefit plan.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage" xlink:to="abev_UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanFiveYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than two years and not later than five years [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanTwoYearsAndNotLaterThanFiveYearsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanOneMonthAndNotLaterThanTwoMonthsMember" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanTwoMonthsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanTwoMonthsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than one month and not later than two months [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneMonthAndNotLaterThanTwoMonthsMember" xlink:to="ifrs-full_LaterThanOneMonthAndNotLaterThanTwoMonthsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfPlanAssetsComponentsTextBlock" xlink:label="abev_DisclosureOfPlanAssetsComponentsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfPlanAssetsComponentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of plan assets components [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfPlanAssetsComponentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of plan assets components.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfPlanAssetsComponentsTextBlock" xlink:to="abev_DisclosureOfPlanAssetsComponentsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember" xlink:label="ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than two months and not later than three months [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember" xlink:to="ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_GrantOneMember" xlink:label="abev_GrantOneMember" xlink:type="locator"/>
    <link:label xlink:label="abev_GrantOneMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Grant one [member]</link:label>
    <link:label xlink:label="abev_GrantOneMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the first grant of share-based payments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_GrantOneMember" xlink:to="abev_GrantOneMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SalesAndMarketingExpense" xlink:label="ifrs-full_SalesAndMarketingExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SalesAndMarketingExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_SalesAndMarketingExpense</link:label>
    <link:label xlink:label="ifrs-full_SalesAndMarketingExpense-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Sales and marketing expenses</link:label>
    <link:label xlink:label="ifrs-full_SalesAndMarketingExpense-label" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Sales and marketing expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SalesAndMarketingExpense" xlink:to="ifrs-full_SalesAndMarketingExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:label="ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfAdditionalInformationExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of additional information [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfAdditionalInformationExplanatory" xlink:to="ifrs-full_DisclosureOfAdditionalInformationExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_GrantTwoMember" xlink:label="abev_GrantTwoMember" xlink:type="locator"/>
    <link:label xlink:label="abev_GrantTwoMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Grant two [member]</link:label>
    <link:label xlink:label="abev_GrantTwoMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the second grant of share-based payments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_GrantTwoMember" xlink:to="abev_GrantTwoMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ProfitAllocationSharebasedPaymentsAllocationOptionOne" xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionOne" xlink:type="locator"/>
    <link:label xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionOne-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_ProfitAllocationSharebasedPaymentsAllocationOptionOne</link:label>
    <link:label xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionOne-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Profit allocation, share-based payments, allocation option one</link:label>
    <link:label xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionOne-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The first allocation option for profit sharing in share-based payments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ProfitAllocationSharebasedPaymentsAllocationOptionOne" xlink:to="abev_ProfitAllocationSharebasedPaymentsAllocationOptionOne-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:label="ifrs-full_StatementOfCashFlowsAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_StatementOfCashFlowsAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of cash flows [abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfCashFlowsAbstract" xlink:to="ifrs-full_StatementOfCashFlowsAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ProfitAllocationSharebasedPaymentsAllocationOptionTwo" xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionTwo" xlink:type="locator"/>
    <link:label xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionTwo-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_ProfitAllocationSharebasedPaymentsAllocationOptionTwo</link:label>
    <link:label xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionTwo-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Profit allocation, share-based payments, allocation option two</link:label>
    <link:label xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionTwo-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The second allocation option for profit sharing in share-based payments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ProfitAllocationSharebasedPaymentsAllocationOptionTwo" xlink:to="abev_ProfitAllocationSharebasedPaymentsAllocationOptionTwo-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ProfitAllocationSharebasedPaymentsAllocationOptionFive" xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionFive" xlink:type="locator"/>
    <link:label xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionFive-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_ProfitAllocationSharebasedPaymentsAllocationOptionFive</link:label>
    <link:label xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionFive-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Profit allocation, share-based payments, allocation option five</link:label>
    <link:label xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionFive-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The fifth allocation option for profit sharing in share-based payments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ProfitAllocationSharebasedPaymentsAllocationOptionFive" xlink:to="abev_ProfitAllocationSharebasedPaymentsAllocationOptionFive-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_LotAMember" xlink:label="abev_LotAMember" xlink:type="locator"/>
    <link:label xlink:label="abev_LotAMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lot A [member]</link:label>
    <link:label xlink:label="abev_LotAMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Lot A, which contains share appreciation rights in the form of phantom stocks or stocks to future delivery to employees.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_LotAMember" xlink:to="abev_LotAMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:label="ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_StatementOfComprehensiveIncomeAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of comprehensive income [abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:to="ifrs-full_StatementOfComprehensiveIncomeAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ProfitAllocationSharebasedPaymentsAllocationOptionThree" xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionThree" xlink:type="locator"/>
    <link:label xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionThree-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_ProfitAllocationSharebasedPaymentsAllocationOptionThree</link:label>
    <link:label xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionThree-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Profit allocation, share-based payments, allocation option three</link:label>
    <link:label xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionThree-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The third allocation option for profit sharing in share-based payments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ProfitAllocationSharebasedPaymentsAllocationOptionThree" xlink:to="abev_ProfitAllocationSharebasedPaymentsAllocationOptionThree-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ProfitAllocationSharebasedPaymentsAllocationOptionFour" xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionFour" xlink:type="locator"/>
    <link:label xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionFour-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_ProfitAllocationSharebasedPaymentsAllocationOptionFour</link:label>
    <link:label xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionFour-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Profit allocation, share-based payments, allocation option four</link:label>
    <link:label xlink:label="abev_ProfitAllocationSharebasedPaymentsAllocationOptionFour-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The fourth allocation option for profit sharing in share-based payments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ProfitAllocationSharebasedPaymentsAllocationOptionFour" xlink:to="abev_ProfitAllocationSharebasedPaymentsAllocationOptionFour-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfChangesInEquityAbstract" xlink:label="ifrs-full_StatementOfChangesInEquityAbstract" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_StatementOfChangesInEquityAbstract-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [abstract]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityAbstract" xlink:to="ifrs-full_StatementOfChangesInEquityAbstract-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GeneralAndAdministrativeExpense" xlink:label="ifrs-full_GeneralAndAdministrativeExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GeneralAndAdministrativeExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_GeneralAndAdministrativeExpense</link:label>
    <link:label xlink:label="ifrs-full_GeneralAndAdministrativeExpense-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Administrative expenses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeneralAndAdministrativeExpense" xlink:to="ifrs-full_GeneralAndAdministrativeExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Parties, current</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties" xlink:to="ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_LotBMember" xlink:label="abev_LotBMember" xlink:type="locator"/>
    <link:label xlink:label="abev_LotBMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lot B [member]</link:label>
    <link:label xlink:label="abev_LotBMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Lot B, which contains share appreciation rights in the form of phantom stocks or stocks to future delivery to employees.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_LotBMember" xlink:to="abev_LotBMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherOperatingIncomeExpense" xlink:label="ifrs-full_OtherOperatingIncomeExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherOperatingIncomeExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other operating income/(expenses), net</link:label>
    <link:label xlink:label="ifrs-full_OtherOperatingIncomeExpense-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherOperatingIncomeExpense" xlink:to="ifrs-full_OtherOperatingIncomeExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related parties</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:to="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade payables, current</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers" xlink:to="ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityPriceRiskMember" xlink:label="ifrs-full_EquityPriceRiskMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EquityPriceRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity price risk [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityPriceRiskMember" xlink:to="ifrs-full_EquityPriceRiskMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DeferredStockUnitsOfGrantOneMember" xlink:label="abev_DeferredStockUnitsOfGrantOneMember" xlink:type="locator"/>
    <link:label xlink:label="abev_DeferredStockUnitsOfGrantOneMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred stock units of Grant One [member]</link:label>
    <link:label xlink:label="abev_DeferredStockUnitsOfGrantOneMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to deferred stock units of Grant One.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DeferredStockUnitsOfGrantOneMember" xlink:to="abev_DeferredStockUnitsOfGrantOneMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestExpenseOnFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss" xlink:label="ifrs-full_InterestExpenseOnFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestExpenseOnFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_InterestExpenseOnFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss</link:label>
    <link:label xlink:label="ifrs-full_InterestExpenseOnFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Financial liabilities measured at amortized cost</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseOnFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss" xlink:to="ifrs-full_InterestExpenseOnFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CliffVestPeriod" xlink:label="abev_CliffVestPeriod" xlink:type="locator"/>
    <link:label xlink:label="abev_CliffVestPeriod-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_CliffVestPeriod</link:label>
    <link:label xlink:label="abev_CliffVestPeriod-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cliff vest period</link:label>
    <link:label xlink:label="abev_CliffVestPeriod-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The period for an equity instrument other than options for the instrument to cliff vest.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CliffVestPeriod" xlink:to="abev_CliffVestPeriod-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfRisksMember" xlink:label="ifrs-full_TypesOfRisksMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TypesOfRisksMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risks [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ifrs-full_TypesOfRisksMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestRateRiskMember" xlink:label="ifrs-full_InterestRateRiskMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestRateRiskMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate risk [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestRateRiskMember" xlink:to="ifrs-full_InterestRateRiskMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestExpense" xlink:label="ifrs-full_InterestExpense" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestExpense-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_InterestExpense</link:label>
    <link:label xlink:label="ifrs-full_InterestExpense-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest expense</link:label>
    <link:label xlink:label="ifrs-full_InterestExpense-label" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpense" xlink:to="ifrs-full_InterestExpense-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherFinanceCost" xlink:label="ifrs-full_OtherFinanceCost" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherFinanceCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_OtherFinanceCost</link:label>
    <link:label xlink:label="ifrs-full_OtherFinanceCost-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other financial results</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherFinanceCost" xlink:to="ifrs-full_OtherFinanceCost-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="ifrs-full_TypesOfRisksAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TypesOfRisksAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of risks [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinanceIncomeCost" xlink:label="ifrs-full_FinanceIncomeCost" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_FinanceIncomeCost-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net finance cost</link:label>
    <link:label xlink:label="ifrs-full_FinanceIncomeCost-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net finance cost</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinanceIncomeCost" xlink:to="ifrs-full_FinanceIncomeCost-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherFinanceIncome" xlink:label="ifrs-full_OtherFinanceIncome" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_OtherFinanceIncome-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other financial results</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherFinanceIncome" xlink:to="ifrs-full_OtherFinanceIncome-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfWeightedAverageExercisePricesOfShareOptionsTextBlock" xlink:label="abev_DisclosureOfWeightedAverageExercisePricesOfShareOptionsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfWeightedAverageExercisePricesOfShareOptionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of weighted average exercise prices of share options [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfWeightedAverageExercisePricesOfShareOptionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the weighted average exercise prices of share options.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfWeightedAverageExercisePricesOfShareOptionsTextBlock" xlink:to="abev_DisclosureOfWeightedAverageExercisePricesOfShareOptionsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfTheNumberOfShareOptionsTextBlock" xlink:label="abev_DisclosureOfTheNumberOfShareOptionsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfTheNumberOfShareOptionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of the number of share options [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfTheNumberOfShareOptionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the number of share options.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfTheNumberOfShareOptionsTextBlock" xlink:to="abev_DisclosureOfTheNumberOfShareOptionsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnLitigationSettlements" xlink:label="ifrs-full_GainsLossesOnLitigationSettlements" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GainsLossesOnLitigationSettlements-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Administrative lawsuit</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnLitigationSettlements" xlink:to="ifrs-full_GainsLossesOnLitigationSettlements-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_NumberOfOtherNewEquityInstrumentsIntroducedInSharebasedPaymentArrangement" xlink:label="abev_NumberOfOtherNewEquityInstrumentsIntroducedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <link:label xlink:label="abev_NumberOfOtherNewEquityInstrumentsIntroducedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New deferred shares during the period</link:label>
    <link:label xlink:label="abev_NumberOfOtherNewEquityInstrumentsIntroducedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of other new equity instruments introduced in share-based payment arrangement</link:label>
    <link:label xlink:label="abev_NumberOfOtherNewEquityInstrumentsIntroducedInSharebasedPaymentArrangement-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of other equity instruments (ie other than share options) introduced in a share-based payment arrangement.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_NumberOfOtherNewEquityInstrumentsIntroducedInSharebasedPaymentArrangement" xlink:to="abev_NumberOfOtherNewEquityInstrumentsIntroducedInSharebasedPaymentArrangement-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfTheComponentsOfTradePayablesTextBlock" xlink:label="abev_DisclosureOfTheComponentsOfTradePayablesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfTheComponentsOfTradePayablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of the components of trade payables [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfTheComponentsOfTradePayablesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the components of trade payables.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfTheComponentsOfTradePayablesTextBlock" xlink:to="abev_DisclosureOfTheComponentsOfTradePayablesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TotalContingentProvisionsMember" xlink:label="abev_TotalContingentProvisionsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TotalContingentProvisionsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total contingent provisions [member]</link:label>
    <link:label xlink:label="abev_TotalContingentProvisionsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding total contingent provisions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TotalContingentProvisionsMember" xlink:to="abev_TotalContingentProvisionsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfTheDisbursementExpectativeOfTheProvisionsTextBlock" xlink:label="abev_DisclosureOfTheDisbursementExpectativeOfTheProvisionsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfTheDisbursementExpectativeOfTheProvisionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of the disbursement expectative of the provisions [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfTheDisbursementExpectativeOfTheProvisionsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the disbursement expectative of the provisions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfTheDisbursementExpectativeOfTheProvisionsTextBlock" xlink:to="abev_DisclosureOfTheDisbursementExpectativeOfTheProvisionsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ProvisionForIncomeTaxMember" xlink:label="abev_ProvisionForIncomeTaxMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ProvisionForIncomeTaxMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provision for income tax [member]</link:label>
    <link:label xlink:label="abev_ProvisionForIncomeTaxMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a provision for income tax. Income taxes include all domestic and foreign taxes which are based on taxable profits. Income taxes also include taxes, such as withholding taxes, which are payable by a subsidiary, associate or joint arrangement on distributions to the reporting entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ProvisionForIncomeTaxMember" xlink:to="abev_ProvisionForIncomeTaxMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ProvisionsForLaborMember" xlink:label="abev_ProvisionsForLaborMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ProvisionsForLaborMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provisions for labor [member]</link:label>
    <link:label xlink:label="abev_ProvisionsForLaborMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a provision for labor.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ProvisionsForLaborMember" xlink:to="abev_ProvisionsForLaborMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ValueAtRiskAdverseScenarioDeteriorationPercentage" xlink:label="abev_ValueAtRiskAdverseScenarioDeteriorationPercentage" xlink:type="locator"/>
    <link:label xlink:label="abev_ValueAtRiskAdverseScenarioDeteriorationPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_ValueAtRiskAdverseScenarioDeteriorationPercentage</link:label>
    <link:label xlink:label="abev_ValueAtRiskAdverseScenarioDeteriorationPercentage-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Value at risk, adverse scenario, deterioration percentage</link:label>
    <link:label xlink:label="abev_ValueAtRiskAdverseScenarioDeteriorationPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The value at risk under an adverse scenario relating to the deterioration percentage.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ValueAtRiskAdverseScenarioDeteriorationPercentage" xlink:to="abev_ValueAtRiskAdverseScenarioDeteriorationPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ValueAtRiskRemoteScenarioDeteriorationPercentage" xlink:label="abev_ValueAtRiskRemoteScenarioDeteriorationPercentage" xlink:type="locator"/>
    <link:label xlink:label="abev_ValueAtRiskRemoteScenarioDeteriorationPercentage-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_ValueAtRiskRemoteScenarioDeteriorationPercentage</link:label>
    <link:label xlink:label="abev_ValueAtRiskRemoteScenarioDeteriorationPercentage-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Value at risk, remote scenario, deterioration percentage</link:label>
    <link:label xlink:label="abev_ValueAtRiskRemoteScenarioDeteriorationPercentage-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The value at risk under a remote scenario relating to the deterioration percentage.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ValueAtRiskRemoteScenarioDeteriorationPercentage" xlink:to="abev_ValueAtRiskRemoteScenarioDeteriorationPercentage-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ValueAtRiskExposureProbable" xlink:label="abev_ValueAtRiskExposureProbable" xlink:type="locator"/>
    <link:label xlink:label="abev_ValueAtRiskExposureProbable-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_ValueAtRiskExposureProbable</link:label>
    <link:label xlink:label="abev_ValueAtRiskExposureProbable-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Value at risk exposure, probable</link:label>
    <link:label xlink:label="abev_ValueAtRiskExposureProbable-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage range for potential exposure under a probable scenario using Value at Risk.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ValueAtRiskExposureProbable" xlink:to="abev_ValueAtRiskExposureProbable-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ValueAtRiskDuration" xlink:label="abev_ValueAtRiskDuration" xlink:type="locator"/>
    <link:label xlink:label="abev_ValueAtRiskDuration-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_ValueAtRiskDuration</link:label>
    <link:label xlink:label="abev_ValueAtRiskDuration-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Value at risk, duration</link:label>
    <link:label xlink:label="abev_ValueAtRiskDuration-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number of days under the Value at Risk exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ValueAtRiskDuration" xlink:to="abev_ValueAtRiskDuration-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment" xlink:label="ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains/(losses) on disposal of property, plant and equipment, intangible assets and operation in associates</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment" xlink:to="ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TriggerClausePercentageCreditRisk" xlink:label="abev_TriggerClausePercentageCreditRisk" xlink:type="locator"/>
    <link:label xlink:label="abev_TriggerClausePercentageCreditRisk-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TriggerClausePercentageCreditRisk</link:label>
    <link:label xlink:label="abev_TriggerClausePercentageCreditRisk-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trigger clause percentage, credit risk</link:label>
    <link:label xlink:label="abev_TriggerClausePercentageCreditRisk-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The trigger clause percentage comparing the fair value of an operational to the notional value.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TriggerClausePercentageCreditRisk" xlink:to="abev_TriggerClausePercentageCreditRisk-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TotalCostExposureMember" xlink:label="abev_TotalCostExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TotalCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total cost exposure [member]</link:label>
    <link:label xlink:label="abev_TotalCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding total cost exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TotalCostExposureMember" xlink:to="abev_TotalCostExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CommodityRiskPortionOfCostExposureMember" xlink:label="abev_CommodityRiskPortionOfCostExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CommodityRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commodity risk portion of cost exposure [member]</link:label>
    <link:label xlink:label="abev_CommodityRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The commodity risk portion of cost exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CommodityRiskPortionOfCostExposureMember" xlink:to="abev_CommodityRiskPortionOfCostExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExpenseOfRestructuringActivities" xlink:label="ifrs-full_ExpenseOfRestructuringActivities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ExpenseOfRestructuringActivities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ExpenseOfRestructuringActivities</link:label>
    <link:label xlink:label="ifrs-full_ExpenseOfRestructuringActivities-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Restructuring</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseOfRestructuringActivities" xlink:to="ifrs-full_ExpenseOfRestructuringActivities-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_GuaranteesHeldForDerivativeInstruments" xlink:label="abev_GuaranteesHeldForDerivativeInstruments" xlink:type="locator"/>
    <link:label xlink:label="abev_GuaranteesHeldForDerivativeInstruments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_GuaranteesHeldForDerivativeInstruments</link:label>
    <link:label xlink:label="abev_GuaranteesHeldForDerivativeInstruments-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Guarantees held for derivative instruments</link:label>
    <link:label xlink:label="abev_GuaranteesHeldForDerivativeInstruments-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of guarantees held for derivative instrument requirements.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_GuaranteesHeldForDerivativeInstruments" xlink:to="abev_GuaranteesHeldForDerivativeInstruments-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_MexicanPesosRiskPortionOfCostExposureMember" xlink:label="abev_MexicanPesosRiskPortionOfCostExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_MexicanPesosRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mexican Pesos risk portion of cost exposure [member]</link:label>
    <link:label xlink:label="abev_MexicanPesosRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The Mexican Pesos risk portion of cost exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_MexicanPesosRiskPortionOfCostExposureMember" xlink:to="abev_MexicanPesosRiskPortionOfCostExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_BrazilianRealRiskPortionOfCostExposureMember" xlink:label="abev_BrazilianRealRiskPortionOfCostExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_BrazilianRealRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brazilian Real risk portion of cost exposure [member]</link:label>
    <link:label xlink:label="abev_BrazilianRealRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The Brazilian Real risk portion of cost exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_BrazilianRealRiskPortionOfCostExposureMember" xlink:to="abev_BrazilianRealRiskPortionOfCostExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmericanDollarRiskPortionOfCostExposureMember" xlink:label="abev_AmericanDollarRiskPortionOfCostExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_AmericanDollarRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">American dollar risk portion of cost exposure [member]</link:label>
    <link:label xlink:label="abev_AmericanDollarRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The American dollar risk portion of cost exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmericanDollarRiskPortionOfCostExposureMember" xlink:to="abev_AmericanDollarRiskPortionOfCostExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EuroRiskPortionOfCostExposureMember" xlink:label="abev_EuroRiskPortionOfCostExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_EuroRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Euro risk portion of cost exposure [member]</link:label>
    <link:label xlink:label="abev_EuroRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The Euro risk portion of cost exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EuroRiskPortionOfCostExposureMember" xlink:to="abev_EuroRiskPortionOfCostExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_GainsLossesRecordedInFinancialResults" xlink:label="abev_GainsLossesRecordedInFinancialResults" xlink:type="locator"/>
    <link:label xlink:label="abev_GainsLossesRecordedInFinancialResults-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (loss) Finance Result</link:label>
    <link:label xlink:label="abev_GainsLossesRecordedInFinancialResults-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The gains or losses recorded in financial results.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_GainsLossesRecordedInFinancialResults" xlink:to="abev_GainsLossesRecordedInFinancialResults-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_GainsLossesFromOperationalResults" xlink:label="abev_GainsLossesFromOperationalResults" xlink:type="locator"/>
    <link:label xlink:label="abev_GainsLossesFromOperationalResults-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (loss) Operational Result</link:label>
    <link:label xlink:label="abev_GainsLossesFromOperationalResults-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The gains or losses recorded in operational results.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_GainsLossesFromOperationalResults" xlink:to="abev_GainsLossesFromOperationalResults-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables</link:label>
    <link:label xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment loss recognised in profit or loss, trade receivables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables" xlink:to="ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TotalFixedAssetExposureMember" xlink:label="abev_TotalFixedAssetExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TotalFixedAssetExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total fixed asset exposure [member]</link:label>
    <link:label xlink:label="abev_TotalFixedAssetExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Total total fixed asset exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TotalFixedAssetExposureMember" xlink:to="abev_TotalFixedAssetExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_MaximumExposureToCreditRiskOfFinancialLiabilities" xlink:label="abev_MaximumExposureToCreditRiskOfFinancialLiabilities" xlink:type="locator"/>
    <link:label xlink:label="abev_MaximumExposureToCreditRiskOfFinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Liability</link:label>
    <link:label xlink:label="abev_MaximumExposureToCreditRiskOfFinancialLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The maximum exposure to the credit risk of financial liabilities designated as measured at fair value through profit or loss.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_MaximumExposureToCreditRiskOfFinancialLiabilities" xlink:to="abev_MaximumExposureToCreditRiskOfFinancialLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:label="ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfBorrowingsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of borrowings [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfBorrowingsExplanatory" xlink:to="ifrs-full_DisclosureOfBorrowingsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WritedownsReversalsOfInventories" xlink:label="ifrs-full_WritedownsReversalsOfInventories" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_WritedownsReversalsOfInventories-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_WritedownsReversalsOfInventories</link:label>
    <link:label xlink:label="ifrs-full_WritedownsReversalsOfInventories-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net write-downs (reversals of write-downs) of inventories</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WritedownsReversalsOfInventories" xlink:to="ifrs-full_WritedownsReversalsOfInventories-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EuroRiskPortionOfFixedAssetsExposureMember" xlink:label="abev_EuroRiskPortionOfFixedAssetsExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_EuroRiskPortionOfFixedAssetsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Euro risk portion of fixed assets exposure [member]</link:label>
    <link:label xlink:label="abev_EuroRiskPortionOfFixedAssetsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Euro risk portion of fixed assets exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EuroRiskPortionOfFixedAssetsExposureMember" xlink:to="abev_EuroRiskPortionOfFixedAssetsExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TotalExpensesExposureMember" xlink:label="abev_TotalExpensesExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TotalExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total expenses exposure [member]</link:label>
    <link:label xlink:label="abev_TotalExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the total expenses exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TotalExpensesExposureMember" xlink:to="abev_TotalExpensesExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment losses</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:to="ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_GainsLossesRecordedInEquity" xlink:label="abev_GainsLossesRecordedInEquity" xlink:type="locator"/>
    <link:label xlink:label="abev_GainsLossesRecordedInEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (loss) Equity</link:label>
    <link:label xlink:label="abev_GainsLossesRecordedInEquity-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The gains or losses recorded in equity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_GainsLossesRecordedInEquity" xlink:to="abev_GainsLossesRecordedInEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember" xlink:label="abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">American Dollar risk portion of fixed assets exposure [member]</link:label>
    <link:label xlink:label="abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the American Dollar risk portion of fixed assets exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember" xlink:to="abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CanadianDollarRiskPortionOfTheExpensesExposureMember" xlink:label="abev_CanadianDollarRiskPortionOfTheExpensesExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CanadianDollarRiskPortionOfTheExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Canadian dollar risk portion of the expenses exposure [member]</link:label>
    <link:label xlink:label="abev_CanadianDollarRiskPortionOfTheExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Canadian dollar risk portion of the expenses exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CanadianDollarRiskPortionOfTheExpensesExposureMember" xlink:to="abev_CanadianDollarRiskPortionOfTheExpensesExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_RupeeRiskPortionOfTheExpensesExposureMember" xlink:label="abev_RupeeRiskPortionOfTheExpensesExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_RupeeRiskPortionOfTheExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rupee risk portion of the expenses exposure [member]</link:label>
    <link:label xlink:label="abev_RupeeRiskPortionOfTheExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Rupee risk portion of the expenses exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_RupeeRiskPortionOfTheExpensesExposureMember" xlink:to="abev_RupeeRiskPortionOfTheExpensesExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmericanDollarRiskPortionOfTheExpensesExposureMember" xlink:label="abev_AmericanDollarRiskPortionOfTheExpensesExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_AmericanDollarRiskPortionOfTheExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">American Dollar risk portion of the expenses exposure [member]</link:label>
    <link:label xlink:label="abev_AmericanDollarRiskPortionOfTheExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the American Dollar risk portion of the expenses exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmericanDollarRiskPortionOfTheExpensesExposureMember" xlink:to="abev_AmericanDollarRiskPortionOfTheExpensesExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EuroRiskPortionOfTheExpensesExposureMember" xlink:label="abev_EuroRiskPortionOfTheExpensesExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_EuroRiskPortionOfTheExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Euro risk portion of the expenses exposure [member]</link:label>
    <link:label xlink:label="abev_EuroRiskPortionOfTheExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the Euro risk portion of the expenses exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EuroRiskPortionOfTheExpensesExposureMember" xlink:to="abev_EuroRiskPortionOfTheExpensesExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EuroRiskPortionOfTheCashExposureMember" xlink:label="abev_EuroRiskPortionOfTheCashExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_EuroRiskPortionOfTheCashExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Euro risk portion of the cash exposure [member]</link:label>
    <link:label xlink:label="abev_EuroRiskPortionOfTheCashExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the Euro risk portion of the cash exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EuroRiskPortionOfTheCashExposureMember" xlink:to="abev_EuroRiskPortionOfTheCashExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestRateRiskPortionOfTheCashExposureMember" xlink:label="abev_InterestRateRiskPortionOfTheCashExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestRateRiskPortionOfTheCashExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate risk portion of the cash exposure [member]</link:label>
    <link:label xlink:label="abev_InterestRateRiskPortionOfTheCashExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the interest rate risk portion of the cash exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestRateRiskPortionOfTheCashExposureMember" xlink:to="abev_InterestRateRiskPortionOfTheCashExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TotalCashExposureMember" xlink:label="abev_TotalCashExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TotalCashExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total cash exposure [member]</link:label>
    <link:label xlink:label="abev_TotalCashExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the total cash exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TotalCashExposureMember" xlink:to="abev_TotalCashExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmericanDollarRiskPortionOfTheCashExposureMember" xlink:label="abev_AmericanDollarRiskPortionOfTheCashExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_AmericanDollarRiskPortionOfTheCashExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">American Dollar risk portion of the cash exposure [member]</link:label>
    <link:label xlink:label="abev_AmericanDollarRiskPortionOfTheCashExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the American Dollar risk portion of the cash exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmericanDollarRiskPortionOfTheCashExposureMember" xlink:to="abev_AmericanDollarRiskPortionOfTheCashExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestRateRiskPortionOfTheDebtsExposureMember" xlink:label="abev_InterestRateRiskPortionOfTheDebtsExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestRateRiskPortionOfTheDebtsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate risk portion of the debts exposure [member]</link:label>
    <link:label xlink:label="abev_InterestRateRiskPortionOfTheDebtsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the interest rate risk portion of the debts exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestRateRiskPortionOfTheDebtsExposureMember" xlink:to="abev_InterestRateRiskPortionOfTheDebtsExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TotalForeignInvestmentsExposureMember" xlink:label="abev_TotalForeignInvestmentsExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TotalForeignInvestmentsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total foreign investments exposure [member]</link:label>
    <link:label xlink:label="abev_TotalForeignInvestmentsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the total foreign investments exposure of the entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TotalForeignInvestmentsExposureMember" xlink:to="abev_TotalForeignInvestmentsExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TotalDebtsExposureMember" xlink:label="abev_TotalDebtsExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TotalDebtsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total debts exposure [member]</link:label>
    <link:label xlink:label="abev_TotalDebtsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the total debts exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TotalDebtsExposureMember" xlink:to="abev_TotalDebtsExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmericanDollarRiskPortionOfTheDebtsExposureMember" xlink:label="abev_AmericanDollarRiskPortionOfTheDebtsExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_AmericanDollarRiskPortionOfTheDebtsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">American Dollar risk portion of the debts exposure [member]</link:label>
    <link:label xlink:label="abev_AmericanDollarRiskPortionOfTheDebtsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the American Dollar risk portion of the debts exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmericanDollarRiskPortionOfTheDebtsExposureMember" xlink:to="abev_AmericanDollarRiskPortionOfTheDebtsExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CanadianDollarRiskPortionOfTheForeignInvestmentsExposureMember" xlink:label="abev_CanadianDollarRiskPortionOfTheForeignInvestmentsExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CanadianDollarRiskPortionOfTheForeignInvestmentsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Canadian Dollar risk portion of the foreign investments exposure [member]</link:label>
    <link:label xlink:label="abev_CanadianDollarRiskPortionOfTheForeignInvestmentsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Canadian Dollar risk portion of the foreign investments exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CanadianDollarRiskPortionOfTheForeignInvestmentsExposureMember" xlink:to="abev_CanadianDollarRiskPortionOfTheForeignInvestmentsExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TotalFinancialRiskExposureMember" xlink:label="abev_TotalFinancialRiskExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TotalFinancialRiskExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total financial risk exposure [member]</link:label>
    <link:label xlink:label="abev_TotalFinancialRiskExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the total financial risk exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TotalFinancialRiskExposureMember" xlink:to="abev_TotalFinancialRiskExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember" xlink:label="abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">American Dollar risk portion of the foreign investments exposure [member]</link:label>
    <link:label xlink:label="abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the American Dollar risk portion of the foreign investments exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember" xlink:to="abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Revenue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net sales</link:label>
    <link:label xlink:label="ifrs-full_Revenue-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Revenue" xlink:to="ifrs-full_Revenue-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EuroRiskPortionOfTheForeignInvestmentsExposureMember" xlink:label="abev_EuroRiskPortionOfTheForeignInvestmentsExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_EuroRiskPortionOfTheForeignInvestmentsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Euro risk portion of the foreign investments exposure [member]</link:label>
    <link:label xlink:label="abev_EuroRiskPortionOfTheForeignInvestmentsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Euro risk portion of the foreign investments exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EuroRiskPortionOfTheForeignInvestmentsExposureMember" xlink:to="abev_EuroRiskPortionOfTheForeignInvestmentsExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestRateRiskBrazilianRealMember" xlink:label="abev_InterestRateRiskBrazilianRealMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestRateRiskBrazilianRealMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate risk, Brazilian Real [member]</link:label>
    <link:label xlink:label="abev_InterestRateRiskBrazilianRealMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the Brazilian Real portion of interest rate risk.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestRateRiskBrazilianRealMember" xlink:to="abev_InterestRateRiskBrazilianRealMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestRateRiskAmericanDollarMember" xlink:label="abev_InterestRateRiskAmericanDollarMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestRateRiskAmericanDollarMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate risk, American Dollar [member]</link:label>
    <link:label xlink:label="abev_InterestRateRiskAmericanDollarMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the American Dollar portion of interest rate risk.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestRateRiskAmericanDollarMember" xlink:to="abev_InterestRateRiskAmericanDollarMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_PercentageOfVotingEquityInterestsAcquired</link:label>
    <link:label xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of voting equity interests acquired</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:to="ifrs-full_PercentageOfVotingEquityInterestsAcquired-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestIncomeOnOtherFinancialAssets" xlink:label="ifrs-full_InterestIncomeOnOtherFinancialAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestIncomeOnOtherFinancialAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other receivables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestIncomeOnOtherFinancialAssets" xlink:to="ifrs-full_InterestIncomeOnOtherFinancialAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestIncomeOnFinancialAssetsHeldForTrading" xlink:label="ifrs-full_InterestIncomeOnFinancialAssetsHeldForTrading" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestIncomeOnFinancialAssetsHeldForTrading-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment securities held for trading</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestIncomeOnFinancialAssetsHeldForTrading" xlink:to="ifrs-full_InterestIncomeOnFinancialAssetsHeldForTrading-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestRateRiskDominicanPesoMember" xlink:label="abev_InterestRateRiskDominicanPesoMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestRateRiskDominicanPesoMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate risk, Dominican Peso [member]</link:label>
    <link:label xlink:label="abev_InterestRateRiskDominicanPesoMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The Dominican Peso portion of interest rate risk.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestRateRiskDominicanPesoMember" xlink:to="abev_InterestRateRiskDominicanPesoMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestRateRiskGuatemalasQuetzalMember" xlink:label="abev_InterestRateRiskGuatemalasQuetzalMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestRateRiskGuatemalasQuetzalMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate risk, Guatemala&#180;s Quetzal [member]</link:label>
    <link:label xlink:label="abev_InterestRateRiskGuatemalasQuetzalMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the Guatemala&#180;s Quetzal portion of interest rate risk.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestRateRiskGuatemalasQuetzalMember" xlink:to="abev_InterestRateRiskGuatemalasQuetzalMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestRateRiskCanadianDollarMember" xlink:label="abev_InterestRateRiskCanadianDollarMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestRateRiskCanadianDollarMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate risk, Canadian Dollar [member]</link:label>
    <link:label xlink:label="abev_InterestRateRiskCanadianDollarMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Canadian Dollar portion of interest rate risk.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestRateRiskCanadianDollarMember" xlink:to="abev_InterestRateRiskCanadianDollarMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestRateRiskBarbadianDollarMember" xlink:label="abev_InterestRateRiskBarbadianDollarMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestRateRiskBarbadianDollarMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate risk, Barbadian Dollar [member]</link:label>
    <link:label xlink:label="abev_InterestRateRiskBarbadianDollarMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the Barbadian Dollar portion of interest rate risk.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestRateRiskBarbadianDollarMember" xlink:to="abev_InterestRateRiskBarbadianDollarMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestIncomeOnCashAndCashEquivalents" xlink:label="ifrs-full_InterestIncomeOnCashAndCashEquivalents" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_InterestIncomeOnCashAndCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_InterestIncomeOnCashAndCashEquivalents</link:label>
    <link:label xlink:label="ifrs-full_InterestIncomeOnCashAndCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestIncomeOnCashAndCashEquivalents" xlink:to="ifrs-full_InterestIncomeOnCashAndCashEquivalents-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PostfixedInterestPrehedgedValue" xlink:label="abev_PostfixedInterestPrehedgedValue" xlink:type="locator"/>
    <link:label xlink:label="abev_PostfixedInterestPrehedgedValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pre-hedge, post-fixed interest rate, amount</link:label>
    <link:label xlink:label="abev_PostfixedInterestPrehedgedValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The value of postfixed interest before it is hedged.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PostfixedInterestPrehedgedValue" xlink:to="abev_PostfixedInterestPrehedgedValue-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PresetInterestPrehedgedValue" xlink:label="abev_PresetInterestPrehedgedValue" xlink:type="locator"/>
    <link:label xlink:label="abev_PresetInterestPrehedgedValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pre-hedge, pre-set interest rate, amount</link:label>
    <link:label xlink:label="abev_PresetInterestPrehedgedValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The value of pre-set interest before it is hedged.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PresetInterestPrehedgedValue" xlink:to="abev_PresetInterestPrehedgedValue-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PostfixedInterestRatePrehedged" xlink:label="abev_PostfixedInterestRatePrehedged" xlink:type="locator"/>
    <link:label xlink:label="abev_PostfixedInterestRatePrehedged-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pre-hedge, post-fixed interest rate</link:label>
    <link:label xlink:label="abev_PostfixedInterestRatePrehedged-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of postfixed interest rate before it is hedged.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PostfixedInterestRatePrehedged" xlink:to="abev_PostfixedInterestRatePrehedged-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PresetInterestRatePrehedged" xlink:label="abev_PresetInterestRatePrehedged" xlink:type="locator"/>
    <link:label xlink:label="abev_PresetInterestRatePrehedged-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pre-hedge, pre-set interest rate</link:label>
    <link:label xlink:label="abev_PresetInterestRatePrehedged-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of pre-set interest rate before it is hedged.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PresetInterestRatePrehedged" xlink:to="abev_PresetInterestRatePrehedged-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PostfixedInterestPosthedgedValue" xlink:label="abev_PostfixedInterestPosthedgedValue" xlink:type="locator"/>
    <link:label xlink:label="abev_PostfixedInterestPosthedgedValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Post-hedge, post-fixed interest rate, amount</link:label>
    <link:label xlink:label="abev_PostfixedInterestPosthedgedValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The value of postfixed interest after it is hedged.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PostfixedInterestPosthedgedValue" xlink:to="abev_PostfixedInterestPosthedgedValue-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PresetInterestPosthedgedValue" xlink:label="abev_PresetInterestPosthedgedValue" xlink:type="locator"/>
    <link:label xlink:label="abev_PresetInterestPosthedgedValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Post-hedge, pre-set interest rate, amount</link:label>
    <link:label xlink:label="abev_PresetInterestPosthedgedValue-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The value of postfixed interest after it is hedged.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PresetInterestPosthedgedValue" xlink:to="abev_PresetInterestPosthedgedValue-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PostfixedInterestRatePosthedged" xlink:label="abev_PostfixedInterestRatePosthedged" xlink:type="locator"/>
    <link:label xlink:label="abev_PostfixedInterestRatePosthedged-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Post-hedge, post-fixed interest rate</link:label>
    <link:label xlink:label="abev_PostfixedInterestRatePosthedged-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of postfixed interest rate after it is hedged.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PostfixedInterestRatePosthedged" xlink:to="abev_PostfixedInterestRatePosthedged-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RevenueFromInterest" xlink:label="ifrs-full_RevenueFromInterest" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RevenueFromInterest-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest income</link:label>
    <link:label xlink:label="ifrs-full_RevenueFromInterest-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromInterest" xlink:to="ifrs-full_RevenueFromInterest-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PresetInterestRatePosthedged" xlink:label="abev_PresetInterestRatePosthedged" xlink:type="locator"/>
    <link:label xlink:label="abev_PresetInterestRatePosthedged-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Post-hedge, pre-set interest rate</link:label>
    <link:label xlink:label="abev_PresetInterestRatePosthedged-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of pre-set interest rate after it is hedged.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PresetInterestRatePosthedged" xlink:to="abev_PresetInterestRatePosthedged-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CommoditiesHedgeMember" xlink:label="abev_CommoditiesHedgeMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CommoditiesHedgeMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commodities hedge [member]</link:label>
    <link:label xlink:label="abev_CommoditiesHedgeMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding a commodities hedge.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CommoditiesHedgeMember" xlink:to="abev_CommoditiesHedgeMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ForeignCurrencyExchangeHedgeMember" xlink:label="abev_ForeignCurrencyExchangeHedgeMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ForeignCurrencyExchangeHedgeMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign currency exchange hedge [member]</link:label>
    <link:label xlink:label="abev_ForeignCurrencyExchangeHedgeMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding foreign currency exchange hedges.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ForeignCurrencyExchangeHedgeMember" xlink:to="abev_ForeignCurrencyExchangeHedgeMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestRateRiskArgentineanPesoMember" xlink:label="abev_InterestRateRiskArgentineanPesoMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestRateRiskArgentineanPesoMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate risk, Argentinean Peso [member]</link:label>
    <link:label xlink:label="abev_InterestRateRiskArgentineanPesoMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The Argentinean Peso portion of interest rate risk.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestRateRiskArgentineanPesoMember" xlink:to="abev_InterestRateRiskArgentineanPesoMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ForeignExchangeRiskPortionOfCostExposureMember" xlink:label="abev_ForeignExchangeRiskPortionOfCostExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ForeignExchangeRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange risk portion of cost exposure [member]</link:label>
    <link:label xlink:label="abev_ForeignExchangeRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the foreign exchange risk portion of cost exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ForeignExchangeRiskPortionOfCostExposureMember" xlink:to="abev_ForeignExchangeRiskPortionOfCostExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InputPurchaseThatAffectsTheForeignExchangeRiskPortionOfCostExposureMember" xlink:label="abev_InputPurchaseThatAffectsTheForeignExchangeRiskPortionOfCostExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InputPurchaseThatAffectsTheForeignExchangeRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Input purchase that affects the foreign exchange risk portion of cost exposure [member]</link:label>
    <link:label xlink:label="abev_InputPurchaseThatAffectsTheForeignExchangeRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the input purchase that affects the foreign exchange risk portion of cost exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InputPurchaseThatAffectsTheForeignExchangeRiskPortionOfCostExposureMember" xlink:to="abev_InputPurchaseThatAffectsTheForeignExchangeRiskPortionOfCostExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CommoditiesAndForeignExchangeHedgesMember" xlink:label="abev_CommoditiesAndForeignExchangeHedgesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CommoditiesAndForeignExchangeHedgesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commodities and foreign exchange hedges [member]</link:label>
    <link:label xlink:label="abev_CommoditiesAndForeignExchangeHedgesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding commodities and foreign exchange hedges.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CommoditiesAndForeignExchangeHedgesMember" xlink:to="abev_CommoditiesAndForeignExchangeHedgesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InputPurchaseAffectingTheCommodityRiskPortionOfCostExposureMember" xlink:label="abev_InputPurchaseAffectingTheCommodityRiskPortionOfCostExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InputPurchaseAffectingTheCommodityRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Input purchase affecting the commodity risk portion of cost exposure [member]</link:label>
    <link:label xlink:label="abev_InputPurchaseAffectingTheCommodityRiskPortionOfCostExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the input purchase affecting the commodity risk portion of cost exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InputPurchaseAffectingTheCommodityRiskPortionOfCostExposureMember" xlink:to="abev_InputPurchaseAffectingTheCommodityRiskPortionOfCostExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ForeignCurrencyExchangeRiskPortionOfExpensesExposureMember" xlink:label="abev_ForeignCurrencyExchangeRiskPortionOfExpensesExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ForeignCurrencyExchangeRiskPortionOfExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign currency exchange risk portion of expenses exposure [member]</link:label>
    <link:label xlink:label="abev_ForeignCurrencyExchangeRiskPortionOfExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the foreign currency exchange risk portion of expenses exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ForeignCurrencyExchangeRiskPortionOfExpensesExposureMember" xlink:to="abev_ForeignCurrencyExchangeRiskPortionOfExpensesExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ExpensesThatAffectTheForeignCurrencyExchangeRiskPortionOfExpensesExposureMember" xlink:label="abev_ExpensesThatAffectTheForeignCurrencyExchangeRiskPortionOfExpensesExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ExpensesThatAffectTheForeignCurrencyExchangeRiskPortionOfExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expenses that affect the foreign currency exchange risk portion of expenses exposure [member]</link:label>
    <link:label xlink:label="abev_ExpensesThatAffectTheForeignCurrencyExchangeRiskPortionOfExpensesExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding expenses that affect the foreign currency exchange risk portion of expenses exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ExpensesThatAffectTheForeignCurrencyExchangeRiskPortionOfExpensesExposureMember" xlink:to="abev_ExpensesThatAffectTheForeignCurrencyExchangeRiskPortionOfExpensesExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ForeignCurrencyRiskPortionOfFixedAssetsExposureMember" xlink:label="abev_ForeignCurrencyRiskPortionOfFixedAssetsExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ForeignCurrencyRiskPortionOfFixedAssetsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign currency risk portion of fixed assets exposure [member]</link:label>
    <link:label xlink:label="abev_ForeignCurrencyRiskPortionOfFixedAssetsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the foreign currency risk portion of fixed assets exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ForeignCurrencyRiskPortionOfFixedAssetsExposureMember" xlink:to="abev_ForeignCurrencyRiskPortionOfFixedAssetsExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CapexPurchaseAffectingTheForeignCurrencyExchangeRiskPortionOfTheFixedAssetsExposureMember" xlink:label="abev_CapexPurchaseAffectingTheForeignCurrencyExchangeRiskPortionOfTheFixedAssetsExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CapexPurchaseAffectingTheForeignCurrencyExchangeRiskPortionOfTheFixedAssetsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capex Purchase affecting the foreign currency exchange risk portion of the fixed assets exposure [member]</link:label>
    <link:label xlink:label="abev_CapexPurchaseAffectingTheForeignCurrencyExchangeRiskPortionOfTheFixedAssetsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Capex Purchase affecting the foreign currency exchange risk portion of the fixed assets exposure</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CapexPurchaseAffectingTheForeignCurrencyExchangeRiskPortionOfTheFixedAssetsExposureMember" xlink:to="abev_CapexPurchaseAffectingTheForeignCurrencyExchangeRiskPortionOfTheFixedAssetsExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestHedgeMember" xlink:label="abev_InterestHedgeMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestHedgeMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest hedge [member]</link:label>
    <link:label xlink:label="abev_InterestHedgeMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding interest hedges.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestHedgeMember" xlink:to="abev_InterestHedgeMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillExplanatory" xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of reconciliation of changes in goodwill [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillExplanatory" xlink:to="ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestRevenueTransactionAffectingTheInterestRateRiskPortionOfTheCashExposureMember" xlink:label="abev_InterestRevenueTransactionAffectingTheInterestRateRiskPortionOfTheCashExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestRevenueTransactionAffectingTheInterestRateRiskPortionOfTheCashExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest revenue transaction affecting the interest rate risk portion of the cash exposure [member]</link:label>
    <link:label xlink:label="abev_InterestRevenueTransactionAffectingTheInterestRateRiskPortionOfTheCashExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the interest revenue transaction affecting the interest rate risk portion of the cash exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestRevenueTransactionAffectingTheInterestRateRiskPortionOfTheCashExposureMember" xlink:to="abev_InterestRevenueTransactionAffectingTheInterestRateRiskPortionOfTheCashExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ForeignCurrencyExchangeRiskPortionOfCashExposureMember" xlink:label="abev_ForeignCurrencyExchangeRiskPortionOfCashExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ForeignCurrencyExchangeRiskPortionOfCashExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign currency exchange risk portion of cash exposure [member]</link:label>
    <link:label xlink:label="abev_ForeignCurrencyExchangeRiskPortionOfCashExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The foreign currency exchange risk portion of cash exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ForeignCurrencyExchangeRiskPortionOfCashExposureMember" xlink:to="abev_ForeignCurrencyExchangeRiskPortionOfCashExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfCashExposureMember" xlink:label="abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfCashExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfCashExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash transaction affecting the foreign currency exchange risk portion of cash exposure [member]</link:label>
    <link:label xlink:label="abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfCashExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the cash transaction affecting the foreign currency exchange risk portion of cash exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfCashExposureMember" xlink:to="abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfCashExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestAndForeignCurrencyHedgesMember" xlink:label="abev_InterestAndForeignCurrencyHedgesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestAndForeignCurrencyHedgesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest and foreign currency hedges [member]</link:label>
    <link:label xlink:label="abev_InterestAndForeignCurrencyHedgesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding interest and foreign currency hedges.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestAndForeignCurrencyHedgesMember" xlink:to="abev_InterestAndForeignCurrencyHedgesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ForeignCurrencyExchangePortionOfDebtEffectsExposureMember" xlink:label="abev_ForeignCurrencyExchangePortionOfDebtEffectsExposureMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ForeignCurrencyExchangePortionOfDebtEffectsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign currency exchange portion of debt effects exposure [member]</link:label>
    <link:label xlink:label="abev_ForeignCurrencyExchangePortionOfDebtEffectsExposureMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the foreign currency exchange portion of debt effects exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ForeignCurrencyExchangePortionOfDebtEffectsExposureMember" xlink:to="abev_ForeignCurrencyExchangePortionOfDebtEffectsExposureMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis" xlink:label="abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis" xlink:type="locator"/>
    <link:label xlink:label="abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair value of hedging instrument transactions, pro forma</link:label>
    <link:label xlink:label="abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The fair value of transactions on financial instruments designated as hedging instruments, which increase (decrease) the value. Hedging instruments are designated derivatives or (for a hedge of the risk of changes in foreign currency exchange rates only) designated non-derivative financial assets or non-derivative financial liabilities whose fair value or cash flows are expected to offset changes in the fair value or cash flows of a designated hedged item.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis" xlink:to="abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis" xlink:label="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis" xlink:type="locator"/>
    <link:label xlink:label="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair value of hedges and transactions, pro forma</link:label>
    <link:label xlink:label="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net fair value of financial instruments designated as hedging instruments on a pro forma basis. Hedging instruments are designated derivatives or (for a hedge of the risk of changes in foreign currency exchange rates only) designated non-derivative financial assets or non-derivative financial liabilities whose fair value or cash flows are expected to offset changes in the fair value or cash flows of a designated hedged item.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis" xlink:to="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:label="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of cash and cash equivalents [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:to="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestExpensesAffectingTheInterestRatePortionOfTheDebtsExposurePortionMember" xlink:label="abev_InterestExpensesAffectingTheInterestRatePortionOfTheDebtsExposurePortionMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestExpensesAffectingTheInterestRatePortionOfTheDebtsExposurePortionMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest expenses affecting the interest rate portion of the debts exposure portion [member]</link:label>
    <link:label xlink:label="abev_InterestExpensesAffectingTheInterestRatePortionOfTheDebtsExposurePortionMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the interest expenses affecting the interest rate portion of the debts exposure portion.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestExpensesAffectingTheInterestRatePortionOfTheDebtsExposurePortionMember" xlink:to="abev_InterestExpensesAffectingTheInterestRatePortionOfTheDebtsExposurePortionMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TotalRiskExposuresMember" xlink:label="abev_TotalRiskExposuresMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TotalRiskExposuresMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Total risk exposures [member]</link:label>
    <link:label xlink:label="abev_TotalRiskExposuresMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the exposures to risk.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TotalRiskExposuresMember" xlink:to="abev_TotalRiskExposuresMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis" xlink:label="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis" xlink:type="locator"/>
    <link:label xlink:label="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sensitivity value level, adverse scenario</link:label>
    <link:label xlink:label="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) effects at the adverse level of a sensitivity analysis for hedging instruments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis" xlink:to="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis" xlink:label="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis" xlink:type="locator"/>
    <link:label xlink:label="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sensitivity value level, remote scenario</link:label>
    <link:label xlink:label="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) effects at the remote level of a sensitivity analysis for hedging instruments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis" xlink:to="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis" xlink:label="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis" xlink:type="locator"/>
    <link:label xlink:label="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sensitivity value level, probable scenario</link:label>
    <link:label xlink:label="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) effects at the probable level of a sensitivity analysis for hedging instruments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis" xlink:to="abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfNotionalAndFairValueAmountsPerFinancialInstrumentAndMaturityTextBlock" xlink:label="abev_DisclosureOfNotionalAndFairValueAmountsPerFinancialInstrumentAndMaturityTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfNotionalAndFairValueAmountsPerFinancialInstrumentAndMaturityTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of notional and fair value amounts per financial instrument and maturity [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfNotionalAndFairValueAmountsPerFinancialInstrumentAndMaturityTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of notional and fair value amounts per financial instrument and maturity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfNotionalAndFairValueAmountsPerFinancialInstrumentAndMaturityTextBlock" xlink:to="abev_DisclosureOfNotionalAndFairValueAmountsPerFinancialInstrumentAndMaturityTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_FinancialAssetCashAndCashEquivalentsMember" xlink:label="abev_FinancialAssetCashAndCashEquivalentsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_FinancialAssetCashAndCashEquivalentsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial asset, cash and cash equivalents [member]</link:label>
    <link:label xlink:label="abev_FinancialAssetCashAndCashEquivalentsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash and cash equivalents portion of financial assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_FinancialAssetCashAndCashEquivalentsMember" xlink:to="abev_FinancialAssetCashAndCashEquivalentsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_FinancialAssetInvestmentSecuritiesMember" xlink:label="abev_FinancialAssetInvestmentSecuritiesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_FinancialAssetInvestmentSecuritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial asset, investment securities [member]</link:label>
    <link:label xlink:label="abev_FinancialAssetInvestmentSecuritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The investment securities portion of financial assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_FinancialAssetInvestmentSecuritiesMember" xlink:to="abev_FinancialAssetInvestmentSecuritiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_FinancialLiabilitiesDerivativeHedgesCategoriesMember" xlink:label="abev_FinancialLiabilitiesDerivativeHedgesCategoriesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_FinancialLiabilitiesDerivativeHedgesCategoriesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities, derivative hedges, categories [member]</link:label>
    <link:label xlink:label="abev_FinancialLiabilitiesDerivativeHedgesCategoriesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to the financial liabilities category of derivative hedges.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_FinancialLiabilitiesDerivativeHedgesCategoriesMember" xlink:to="abev_FinancialLiabilitiesDerivativeHedgesCategoriesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestbearingLoansAndBorrowingsMember" xlink:label="abev_InterestbearingLoansAndBorrowingsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestbearingLoansAndBorrowingsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest-bearing loans and borrowings [member]</link:label>
    <link:label xlink:label="abev_InterestbearingLoansAndBorrowingsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding interest-bearing loans and borrowings.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestbearingLoansAndBorrowingsMember" xlink:to="abev_InterestbearingLoansAndBorrowingsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DerivativeFinancialAssetsHeldForHedgingOperationalHedges" xlink:label="abev_DerivativeFinancialAssetsHeldForHedgingOperationalHedges" xlink:type="locator"/>
    <link:label xlink:label="abev_DerivativeFinancialAssetsHeldForHedgingOperationalHedges-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives - operational hedge</link:label>
    <link:label xlink:label="abev_DerivativeFinancialAssetsHeldForHedgingOperationalHedges-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of derivative financial assets held for hedging in operation hedges.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DerivativeFinancialAssetsHeldForHedgingOperationalHedges" xlink:to="abev_DerivativeFinancialAssetsHeldForHedgingOperationalHedges-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TradePayablesAndPutOptionGrantedOnSubsidiaryAndOtherLiabilitiesMember" xlink:label="abev_TradePayablesAndPutOptionGrantedOnSubsidiaryAndOtherLiabilitiesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TradePayablesAndPutOptionGrantedOnSubsidiaryAndOtherLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade payables and put option granted on subsidiary and other liabilities [member]</link:label>
    <link:label xlink:label="abev_TradePayablesAndPutOptionGrantedOnSubsidiaryAndOtherLiabilitiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the trade payables and put option granted on subsidiary and other liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TradePayablesAndPutOptionGrantedOnSubsidiaryAndOtherLiabilitiesMember" xlink:to="abev_TradePayablesAndPutOptionGrantedOnSubsidiaryAndOtherLiabilitiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfCashFlowStatementExplanatory" xlink:label="ifrs-full_DisclosureOfCashFlowStatementExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfCashFlowStatementExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of cash flow statement [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfCashFlowStatementExplanatory" xlink:to="ifrs-full_DisclosureOfCashFlowStatementExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_FinancialLiabilitiesDerivativesMember" xlink:label="abev_FinancialLiabilitiesDerivativesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_FinancialLiabilitiesDerivativesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities, derivatives [member]</link:label>
    <link:label xlink:label="abev_FinancialLiabilitiesDerivativesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the derivatives portion of financial liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_FinancialLiabilitiesDerivativesMember" xlink:to="abev_FinancialLiabilitiesDerivativesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DerivativeFinancialLiabilitiesHeldForHedgingFairValueHedges" xlink:label="abev_DerivativeFinancialLiabilitiesHeldForHedgingFairValueHedges" xlink:type="locator"/>
    <link:label xlink:label="abev_DerivativeFinancialLiabilitiesHeldForHedgingFairValueHedges-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives liabilities - fair value hedge</link:label>
    <link:label xlink:label="abev_DerivativeFinancialLiabilitiesHeldForHedgingFairValueHedges-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of derivative financial liabilities held for hedging in fair value hedges.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DerivativeFinancialLiabilitiesHeldForHedgingFairValueHedges" xlink:to="abev_DerivativeFinancialLiabilitiesHeldForHedgingFairValueHedges-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RevenueFromSaleOfGoods" xlink:label="ifrs-full_RevenueFromSaleOfGoods" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_RevenueFromSaleOfGoods-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross sales (i)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromSaleOfGoods" xlink:to="ifrs-full_RevenueFromSaleOfGoods-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DerivativeFinancialLiabilitiesHeldForHedgingOperationalHedge" xlink:label="abev_DerivativeFinancialLiabilitiesHeldForHedgingOperationalHedge" xlink:type="locator"/>
    <link:label xlink:label="abev_DerivativeFinancialLiabilitiesHeldForHedgingOperationalHedge-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives liabilities - operational hedge</link:label>
    <link:label xlink:label="abev_DerivativeFinancialLiabilitiesHeldForHedgingOperationalHedge-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of derivative financial liabilities held for hedging in operational hedges.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DerivativeFinancialLiabilitiesHeldForHedgingOperationalHedge" xlink:to="abev_DerivativeFinancialLiabilitiesHeldForHedgingOperationalHedge-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_GainsLossesRecognisedEquityFairValueMeasurementLiabilities" xlink:label="abev_GainsLossesRecognisedEquityFairValueMeasurementLiabilities" xlink:type="locator"/>
    <link:label xlink:label="abev_GainsLossesRecognisedEquityFairValueMeasurementLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Losses recognized in equity</link:label>
    <link:label xlink:label="abev_GainsLossesRecognisedEquityFairValueMeasurementLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The gains (losses) recognised in equity on the fair value measurement of liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_GainsLossesRecognisedEquityFairValueMeasurementLiabilities" xlink:to="abev_GainsLossesRecognisedEquityFairValueMeasurementLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfCollateralAndContractualCommitmentsWithSuppliersAdvancesFromCustomersAndOtherTextBlock" xlink:label="abev_DisclosureOfCollateralAndContractualCommitmentsWithSuppliersAdvancesFromCustomersAndOtherTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfCollateralAndContractualCommitmentsWithSuppliersAdvancesFromCustomersAndOtherTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of collateral and contractual commitments with suppliers, advances from customers and other [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfCollateralAndContractualCommitmentsWithSuppliersAdvancesFromCustomersAndOtherTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of collateral and contractual commitments with suppliers, advances from customers and other.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfCollateralAndContractualCommitmentsWithSuppliersAdvancesFromCustomersAndOtherTextBlock" xlink:to="abev_DisclosureOfCollateralAndContractualCommitmentsWithSuppliersAdvancesFromCustomersAndOtherTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfFinancialInstrumentsFairValueHierarchyTextBlock" xlink:label="abev_DisclosureOfFinancialInstrumentsFairValueHierarchyTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfFinancialInstrumentsFairValueHierarchyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial instruments fair value hierarchy [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfFinancialInstrumentsFairValueHierarchyTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of the financial instruments fair value hierarchy.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfFinancialInstrumentsFairValueHierarchyTextBlock" xlink:to="abev_DisclosureOfFinancialInstrumentsFairValueHierarchyTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_LossesGainsRecognizedInTheYearFairValueMeasurementLiabilities" xlink:label="abev_LossesGainsRecognizedInTheYearFairValueMeasurementLiabilities" xlink:type="locator"/>
    <link:label xlink:label="abev_LossesGainsRecognizedInTheYearFairValueMeasurementLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_LossesGainsRecognizedInTheYearFairValueMeasurementLiabilities</link:label>
    <link:label xlink:label="abev_LossesGainsRecognizedInTheYearFairValueMeasurementLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total gains and losses in the year</link:label>
    <link:label xlink:label="abev_LossesGainsRecognizedInTheYearFairValueMeasurementLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The gains (losses) recognised on the fair value measurement of liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_LossesGainsRecognizedInTheYearFairValueMeasurementLiabilities" xlink:to="abev_LossesGainsRecognizedInTheYearFairValueMeasurementLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ApplicableTaxRate" xlink:label="ifrs-full_ApplicableTaxRate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ApplicableTaxRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregated weighted nominal tax rate</link:label>
    <link:label xlink:label="ifrs-full_ApplicableTaxRate-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Applicable tax rate</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ApplicableTaxRate" xlink:to="ifrs-full_ApplicableTaxRate-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CollateralAndOtherCommitments" xlink:label="abev_CollateralAndOtherCommitments" xlink:type="locator"/>
    <link:label xlink:label="abev_CollateralAndOtherCommitments-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_CollateralAndOtherCommitments</link:label>
    <link:label xlink:label="abev_CollateralAndOtherCommitments-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collateral and other commitments</link:label>
    <link:label xlink:label="abev_CollateralAndOtherCommitments-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"/>
    <link:label xlink:label="abev_CollateralAndOtherCommitments-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount recorded for collateral and other commitments outstanding.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CollateralAndOtherCommitments" xlink:to="abev_CollateralAndOtherCommitments-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CashGuarantees" xlink:label="abev_CashGuarantees" xlink:type="locator"/>
    <link:label xlink:label="abev_CashGuarantees-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_CashGuarantees</link:label>
    <link:label xlink:label="abev_CashGuarantees-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash guarantees</link:label>
    <link:label xlink:label="abev_CashGuarantees-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount recorded for cash guarantees.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CashGuarantees" xlink:to="abev_CashGuarantees-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TotalExposureLiabilities" xlink:label="abev_TotalExposureLiabilities" xlink:type="locator"/>
    <link:label xlink:label="abev_TotalExposureLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TotalExposureLiabilities</link:label>
    <link:label xlink:label="abev_TotalExposureLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"/>
    <link:label xlink:label="abev_TotalExposureLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future contractual commitments</link:label>
    <link:label xlink:label="abev_TotalExposureLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of liabilities that the entity may have to pay due to exposure.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TotalExposureLiabilities" xlink:to="abev_TotalExposureLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_LaterThanTwoYearsMember" xlink:label="abev_LaterThanTwoYearsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_LaterThanTwoYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than two years [member]</link:label>
    <link:label xlink:label="abev_LaterThanTwoYearsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the duration later than two years.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_LaterThanTwoYearsMember" xlink:to="abev_LaterThanTwoYearsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_OtherCommitmentsHeld" xlink:label="abev_OtherCommitmentsHeld" xlink:type="locator"/>
    <link:label xlink:label="abev_OtherCommitmentsHeld-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other commitments</link:label>
    <link:label xlink:label="abev_OtherCommitmentsHeld-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other commitments held for a purpose restricting the use of cash.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_OtherCommitmentsHeld" xlink:to="abev_OtherCommitmentsHeld-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CommitmentsWithSuppliers" xlink:label="abev_CommitmentsWithSuppliers" xlink:type="locator"/>
    <link:label xlink:label="abev_CommitmentsWithSuppliers-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments with suppliers (i)</link:label>
    <link:label xlink:label="abev_CommitmentsWithSuppliers-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount committed to suppliers.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CommitmentsWithSuppliers" xlink:to="abev_CommitmentsWithSuppliers-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_BeverageAssociatesHoldingLimitedMember" xlink:label="abev_BeverageAssociatesHoldingLimitedMember" xlink:type="locator"/>
    <link:label xlink:label="abev_BeverageAssociatesHoldingLimitedMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Beverage Associates Holding Limited [member]</link:label>
    <link:label xlink:label="abev_BeverageAssociatesHoldingLimitedMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Beverage Associates Holding Limited.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_BeverageAssociatesHoldingLimitedMember" xlink:to="abev_BeverageAssociatesHoldingLimitedMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DepartmentOfFederalRevenueOfBrazilMember" xlink:label="abev_DepartmentOfFederalRevenueOfBrazilMember" xlink:type="locator"/>
    <link:label xlink:label="abev_DepartmentOfFederalRevenueOfBrazilMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Department of Federal Revenue of Brazil [member]</link:label>
    <link:label xlink:label="abev_DepartmentOfFederalRevenueOfBrazilMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Department of Federal Revenue of Brazil.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DepartmentOfFederalRevenueOfBrazilMember" xlink:to="abev_DepartmentOfFederalRevenueOfBrazilMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashAndCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label xlink:label="ifrs-full_CashAndCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfFutureContractualCommitmentsTextBlock" xlink:label="abev_DisclosureOfFutureContractualCommitmentsTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfFutureContractualCommitmentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of future contractual commitments [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfFutureContractualCommitmentsTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of future contractual commitments.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfFutureContractualCommitmentsTextBlock" xlink:to="abev_DisclosureOfFutureContractualCommitmentsTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_EstimatedFinancialEffectOfContingentLiabilitiesPercentageReimbursement" xlink:label="abev_EstimatedFinancialEffectOfContingentLiabilitiesPercentageReimbursement" xlink:type="locator"/>
    <link:label xlink:label="abev_EstimatedFinancialEffectOfContingentLiabilitiesPercentageReimbursement-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_EstimatedFinancialEffectOfContingentLiabilitiesPercentageReimbursement</link:label>
    <link:label xlink:label="abev_EstimatedFinancialEffectOfContingentLiabilitiesPercentageReimbursement-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated financial effect of contingent liabilities, percentage reimbursement</link:label>
    <link:label xlink:label="abev_EstimatedFinancialEffectOfContingentLiabilitiesPercentageReimbursement-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage reimbursement possible due to the financial effect of contingent liabilities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_EstimatedFinancialEffectOfContingentLiabilitiesPercentageReimbursement" xlink:to="abev_EstimatedFinancialEffectOfContingentLiabilitiesPercentageReimbursement-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Assets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_Assets</link:label>
    <link:label xlink:label="ifrs-full_Assets-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label xlink:label="ifrs-full_Assets-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_AllegedAmountExpendedAndDeductedIncorrectly" xlink:label="abev_AllegedAmountExpendedAndDeductedIncorrectly" xlink:type="locator"/>
    <link:label xlink:label="abev_AllegedAmountExpendedAndDeductedIncorrectly-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_AllegedAmountExpendedAndDeductedIncorrectly</link:label>
    <link:label xlink:label="abev_AllegedAmountExpendedAndDeductedIncorrectly-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Alleged amount expended and deducted incorrectly</link:label>
    <link:label xlink:label="abev_AllegedAmountExpendedAndDeductedIncorrectly-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The alleged amount expended and deducted incorrectly.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_AllegedAmountExpendedAndDeductedIncorrectly" xlink:to="abev_AllegedAmountExpendedAndDeductedIncorrectly-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TaxContingentLiabilityRelatedToExpensesMember" xlink:label="abev_TaxContingentLiabilityRelatedToExpensesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TaxContingentLiabilityRelatedToExpensesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax contingent liability related to expenses [member]</link:label>
    <link:label xlink:label="abev_TaxContingentLiabilityRelatedToExpensesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding tax contingent liability related to expenses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TaxContingentLiabilityRelatedToExpensesMember" xlink:to="abev_TaxContingentLiabilityRelatedToExpensesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_BrazilianTaxAuthoritiesMember" xlink:label="abev_BrazilianTaxAuthoritiesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_BrazilianTaxAuthoritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brazilian Tax authorities [member]</link:label>
    <link:label xlink:label="abev_BrazilianTaxAuthoritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding Brazilian Tax authorities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_BrazilianTaxAuthoritiesMember" xlink:to="abev_BrazilianTaxAuthoritiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxAssets" xlink:label="ifrs-full_DeferredTaxAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DeferredTaxAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross deferred tax assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxAssets" xlink:to="ifrs-full_DeferredTaxAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_BrazilianFederalTaxAuthoritiesMember" xlink:label="abev_BrazilianFederalTaxAuthoritiesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_BrazilianFederalTaxAuthoritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brazilian federal tax authorities [member]</link:label>
    <link:label xlink:label="abev_BrazilianFederalTaxAuthoritiesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Brazilian federal tax authorities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_BrazilianFederalTaxAuthoritiesMember" xlink:to="abev_BrazilianFederalTaxAuthoritiesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of commitments and contingent liabilities [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_SuperiorCourtOfJusticeAndTheBrazilianSupremeCourtMember" xlink:label="abev_SuperiorCourtOfJusticeAndTheBrazilianSupremeCourtMember" xlink:type="locator"/>
    <link:label xlink:label="abev_SuperiorCourtOfJusticeAndTheBrazilianSupremeCourtMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Superior Court of Justice and the Brazilian Supreme Court [member]</link:label>
    <link:label xlink:label="abev_SuperiorCourtOfJusticeAndTheBrazilianSupremeCourtMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the Superior Court of Justice and the Brazilian Supreme Court.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_SuperiorCourtOfJusticeAndTheBrazilianSupremeCourtMember" xlink:to="abev_SuperiorCourtOfJusticeAndTheBrazilianSupremeCourtMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TaxContingentLiabilityRelatedToTaxesPaidAbroadMember" xlink:label="abev_TaxContingentLiabilityRelatedToTaxesPaidAbroadMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TaxContingentLiabilityRelatedToTaxesPaidAbroadMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax contingent liability related to taxes paid abroad [member]</link:label>
    <link:label xlink:label="abev_TaxContingentLiabilityRelatedToTaxesPaidAbroadMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the tax contingent liability related to taxes paid abroad.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TaxContingentLiabilityRelatedToTaxesPaidAbroadMember" xlink:to="abev_TaxContingentLiabilityRelatedToTaxesPaidAbroadMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory" xlink:to="ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_LegalProceedingsContingentLiabilityRelatedToTheIntegrationProgrammesocialSecurityFinancingLevyMember" xlink:label="abev_LegalProceedingsContingentLiabilityRelatedToTheIntegrationProgrammesocialSecurityFinancingLevyMember" xlink:type="locator"/>
    <link:label xlink:label="abev_LegalProceedingsContingentLiabilityRelatedToTheIntegrationProgrammesocialSecurityFinancingLevyMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal proceedings contingent liability related to the Integration Programme/Social Security Financing Levy [member]</link:label>
    <link:label xlink:label="abev_LegalProceedingsContingentLiabilityRelatedToTheIntegrationProgrammesocialSecurityFinancingLevyMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a contingent liability for legal proceedings related to the Integration Programme/Social Security Financing Levy.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_LegalProceedingsContingentLiabilityRelatedToTheIntegrationProgrammesocialSecurityFinancingLevyMember" xlink:to="abev_LegalProceedingsContingentLiabilityRelatedToTheIntegrationProgrammesocialSecurityFinancingLevyMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible</link:label>
    <link:label xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Intangible assets, balance</link:label>
    <link:label xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwill-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Intangible assets, balance</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_IntangibleAssetsOtherThanGoodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_StateOfMinasGeraisMember" xlink:label="abev_StateOfMinasGeraisMember" xlink:type="locator"/>
    <link:label xlink:label="abev_StateOfMinasGeraisMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">State of Minas Gerais [member]</link:label>
    <link:label xlink:label="abev_StateOfMinasGeraisMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the State of Minas Gerais.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_StateOfMinasGeraisMember" xlink:to="abev_StateOfMinasGeraisMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Goodwill" xlink:label="ifrs-full_Goodwill" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Goodwill-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill</link:label>
    <link:label xlink:label="ifrs-full_Goodwill-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Goodwill balance</link:label>
    <link:label xlink:label="ifrs-full_Goodwill-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Goodwill balance</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Goodwill" xlink:to="ifrs-full_Goodwill-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PaymentsForDebtsNetOfTaxIncentives" xlink:label="abev_PaymentsForDebtsNetOfTaxIncentives" xlink:type="locator"/>
    <link:label xlink:label="abev_PaymentsForDebtsNetOfTaxIncentives-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_PaymentsForDebtsNetOfTaxIncentives</link:label>
    <link:label xlink:label="abev_PaymentsForDebtsNetOfTaxIncentives-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payments for debts, net of tax incentives</link:label>
    <link:label xlink:label="abev_PaymentsForDebtsNetOfTaxIncentives-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The payments made to pay for debts, net of tax incentives.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PaymentsForDebtsNetOfTaxIncentives" xlink:to="abev_PaymentsForDebtsNetOfTaxIncentives-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Equity" xlink:label="ifrs-full_Equity" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Equity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_Equity</link:label>
    <link:label xlink:label="ifrs-full_Equity-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total Equity</link:label>
    <link:label xlink:label="ifrs-full_Equity-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:label xlink:label="ifrs-full_Equity-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_StatesOfSoPauloRioDeJaneiroMinasGeraisAndOtherStatesMember" xlink:label="abev_StatesOfSoPauloRioDeJaneiroMinasGeraisAndOtherStatesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_StatesOfSoPauloRioDeJaneiroMinasGeraisAndOtherStatesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">States of S&#227;o Paulo, Rio de Janeiro, Minas Gerais and other States [member]</link:label>
    <link:label xlink:label="abev_StatesOfSoPauloRioDeJaneiroMinasGeraisAndOtherStatesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the counterparties of the States of S&#227;o Paulo, Rio de Janeiro, Minas Gerais and other States.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_StatesOfSoPauloRioDeJaneiroMinasGeraisAndOtherStatesMember" xlink:to="abev_StatesOfSoPauloRioDeJaneiroMinasGeraisAndOtherStatesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TaxContingentLiabilityRelatingToIpiExciseTaxesMember" xlink:label="abev_TaxContingentLiabilityRelatingToIpiExciseTaxesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TaxContingentLiabilityRelatingToIpiExciseTaxesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax contingent liability relating to IPI excise taxes [member]</link:label>
    <link:label xlink:label="abev_TaxContingentLiabilityRelatingToIpiExciseTaxesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the tax contingent liability relating to IPI excise taxes.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TaxContingentLiabilityRelatingToIpiExciseTaxesMember" xlink:to="abev_TaxContingentLiabilityRelatingToIpiExciseTaxesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentAssets" xlink:label="ifrs-full_CurrentAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CurrentAssets</link:label>
    <link:label xlink:label="ifrs-full_CurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Current assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_CurrentAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CommonSharesAllegedAmountRequested" xlink:label="abev_CommonSharesAllegedAmountRequested" xlink:type="locator"/>
    <link:label xlink:label="abev_CommonSharesAllegedAmountRequested-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_CommonSharesAllegedAmountRequested</link:label>
    <link:label xlink:label="abev_CommonSharesAllegedAmountRequested-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common shares alleged amount requested</link:label>
    <link:label xlink:label="abev_CommonSharesAllegedAmountRequested-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The number common shares requested during a litigation.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CommonSharesAllegedAmountRequested" xlink:to="abev_CommonSharesAllegedAmountRequested-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TaxAssessmentFromTaxBody" xlink:label="abev_TaxAssessmentFromTaxBody" xlink:type="locator"/>
    <link:label xlink:label="abev_TaxAssessmentFromTaxBody-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_TaxAssessmentFromTaxBody</link:label>
    <link:label xlink:label="abev_TaxAssessmentFromTaxBody-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax assessment from tax body</link:label>
    <link:label xlink:label="abev_TaxAssessmentFromTaxBody-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount deemed assessed for taxing purposes from the regional taxing entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TaxAssessmentFromTaxBody" xlink:to="abev_TaxAssessmentFromTaxBody-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_TaxContingentLiabilityRelatingToManausFreeTradeZoneZfmMember" xlink:label="abev_TaxContingentLiabilityRelatingToManausFreeTradeZoneZfmMember" xlink:type="locator"/>
    <link:label xlink:label="abev_TaxContingentLiabilityRelatingToManausFreeTradeZoneZfmMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax contingent liability relating to Manaus Free Trade Zone - ZFM [member]</link:label>
    <link:label xlink:label="abev_TaxContingentLiabilityRelatingToManausFreeTradeZoneZfmMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the xax contingent liability relating to Manaus Free Trade Zone - ZFM.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_TaxContingentLiabilityRelatingToManausFreeTradeZoneZfmMember" xlink:to="abev_TaxContingentLiabilityRelatingToManausFreeTradeZoneZfmMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment</link:label>
    <link:label xlink:label="ifrs-full_PropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment, balance</link:label>
    <link:label xlink:label="ifrs-full_PropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment, balance</link:label>
    <link:label xlink:label="ifrs-full_PropertyPlantAndEquipment-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment, balance</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ClaimantsInCanadaMember" xlink:label="abev_ClaimantsInCanadaMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ClaimantsInCanadaMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Claimants in Canada [member]</link:label>
    <link:label xlink:label="abev_ClaimantsInCanadaMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding claimants in Canada.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ClaimantsInCanadaMember" xlink:to="abev_ClaimantsInCanadaMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfEstimatesOfPossibleLossesTextBlock" xlink:label="abev_DisclosureOfEstimatesOfPossibleLossesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfEstimatesOfPossibleLossesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of estimates of possible losses [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfEstimatesOfPossibleLossesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of estimates of possible losses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfEstimatesOfPossibleLossesTextBlock" xlink:to="abev_DisclosureOfEstimatesOfPossibleLossesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CertainHoldersOfWarrantsIssuedByOldAmbevMember" xlink:label="abev_CertainHoldersOfWarrantsIssuedByOldAmbevMember" xlink:type="locator"/>
    <link:label xlink:label="abev_CertainHoldersOfWarrantsIssuedByOldAmbevMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Certain holders of warrants issued by Old Ambev [member]</link:label>
    <link:label xlink:label="abev_CertainHoldersOfWarrantsIssuedByOldAmbevMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding certain holders of warrants issued by Old Ambev.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CertainHoldersOfWarrantsIssuedByOldAmbevMember" xlink:to="abev_CertainHoldersOfWarrantsIssuedByOldAmbevMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PlaintiffAmountSought" xlink:label="abev_PlaintiffAmountSought" xlink:type="locator"/>
    <link:label xlink:label="abev_PlaintiffAmountSought-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_PlaintiffAmountSought</link:label>
    <link:label xlink:label="abev_PlaintiffAmountSought-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Plaintiff, amount sought</link:label>
    <link:label xlink:label="abev_PlaintiffAmountSought-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount sought from the plaintiff in a litigation.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PlaintiffAmountSought" xlink:to="abev_PlaintiffAmountSought-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Inventories" xlink:label="ifrs-full_Inventories" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Inventories-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventories</link:label>
    <link:label xlink:label="ifrs-full_Inventories-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Inventories" xlink:to="ifrs-full_Inventories-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ICMSAndIPIContingentLiabilityMember" xlink:label="abev_ICMSAndIPIContingentLiabilityMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ICMSAndIPIContingentLiabilityMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ICMS and IPI contingent liability [member]</link:label>
    <link:label xlink:label="abev_ICMSAndIPIContingentLiabilityMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a contingent liability ICMS and IPI.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ICMSAndIPIContingentLiabilityMember" xlink:to="abev_ICMSAndIPIContingentLiabilityMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_LaborContingentLiabilityMember" xlink:label="abev_LaborContingentLiabilityMember" xlink:type="locator"/>
    <link:label xlink:label="abev_LaborContingentLiabilityMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Labor contingent liability [member]</link:label>
    <link:label xlink:label="abev_LaborContingentLiabilityMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a contingent liability for labor.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_LaborContingentLiabilityMember" xlink:to="abev_LaborContingentLiabilityMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IRPFAndCSLLTaxContingentLiabilityMember" xlink:label="abev_IRPFAndCSLLTaxContingentLiabilityMember" xlink:type="locator"/>
    <link:label xlink:label="abev_IRPFAndCSLLTaxContingentLiabilityMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">IRPJ and CSLL tax contingent liability [member]</link:label>
    <link:label xlink:label="abev_IRPFAndCSLLTaxContingentLiabilityMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding the IRPJ and CSLL tax contingent liability.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IRPFAndCSLLTaxContingentLiabilityMember" xlink:to="abev_IRPFAndCSLLTaxContingentLiabilityMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeAndOtherCurrentReceivables" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_TradeAndOtherCurrentReceivables-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade receivable</link:label>
    <link:label xlink:label="ifrs-full_TradeAndOtherCurrentReceivables-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total current trade receivables</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivables" xlink:to="ifrs-full_TradeAndOtherCurrentReceivables-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PISAndCOFINSTaxContingentLiabilityMember" xlink:label="abev_PISAndCOFINSTaxContingentLiabilityMember" xlink:type="locator"/>
    <link:label xlink:label="abev_PISAndCOFINSTaxContingentLiabilityMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PIS and COFINS tax contingent liability [member]</link:label>
    <link:label xlink:label="abev_PISAndCOFINSTaxContingentLiabilityMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding PIS and COFINS tax contingent liability.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PISAndCOFINSTaxContingentLiabilityMember" xlink:to="abev_PISAndCOFINSTaxContingentLiabilityMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_FittingsMember" xlink:label="abev_FittingsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_FittingsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fittings [member]</link:label>
    <link:label xlink:label="abev_FittingsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding fittings.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_FittingsMember" xlink:to="abev_FittingsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_ExternalUseAssetsMember" xlink:label="abev_ExternalUseAssetsMember" xlink:type="locator"/>
    <link:label xlink:label="abev_ExternalUseAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">External use assets [member]</link:label>
    <link:label xlink:label="abev_ExternalUseAssetsMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding external use assets.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_ExternalUseAssetsMember" xlink:to="abev_ExternalUseAssetsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentAssets</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentAssets-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Non-current assets</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_NoncurrentAssets-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_FixturesMember" xlink:label="abev_FixturesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_FixturesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixtures [member]</link:label>
    <link:label xlink:label="abev_FixturesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding fixtures.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_FixturesMember" xlink:to="abev_FixturesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_BadDebtProvisions" xlink:label="abev_BadDebtProvisions" xlink:type="locator"/>
    <link:label xlink:label="abev_BadDebtProvisions-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_BadDebtProvisions</link:label>
    <link:label xlink:label="abev_BadDebtProvisions-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Bad debt provision</link:label>
    <link:label xlink:label="abev_BadDebtProvisions-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of bad debt provisions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_BadDebtProvisions" xlink:to="abev_BadDebtProvisions-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DeductibleInterestOnNetEquity" xlink:label="abev_DeductibleInterestOnNetEquity" xlink:type="locator"/>
    <link:label xlink:label="abev_DeductibleInterestOnNetEquity-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_DeductibleInterestOnNetEquity</link:label>
    <link:label xlink:label="abev_DeductibleInterestOnNetEquity-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deductible Interest on net equity</link:label>
    <link:label xlink:label="abev_DeductibleInterestOnNetEquity-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The deductible interest on net equity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DeductibleInterestOnNetEquity" xlink:to="abev_DeductibleInterestOnNetEquity-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="ifrs-full_NoncurrentLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncurrentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_NoncurrentLiabilities</link:label>
    <link:label xlink:label="ifrs-full_NoncurrentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Non-current liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_NoncurrentLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_IncreaseInInterestOnCapitalApprovedForDistribution" xlink:label="abev_IncreaseInInterestOnCapitalApprovedForDistribution" xlink:type="locator"/>
    <link:label xlink:label="abev_IncreaseInInterestOnCapitalApprovedForDistribution-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends approved for distribution</link:label>
    <link:label xlink:label="abev_IncreaseInInterestOnCapitalApprovedForDistribution-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase in the entity's interest resulting from the change in the shareholder's dividend distributions.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_IncreaseInInterestOnCapitalApprovedForDistribution" xlink:to="abev_IncreaseInInterestOnCapitalApprovedForDistribution-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_CashAndCashEquivalentsAfterBankOverdrafts" xlink:label="abev_CashAndCashEquivalentsAfterBankOverdrafts" xlink:type="locator"/>
    <link:label xlink:label="abev_CashAndCashEquivalentsAfterBankOverdrafts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_CashAndCashEquivalentsAfterBankOverdrafts</link:label>
    <link:label xlink:label="abev_CashAndCashEquivalentsAfterBankOverdrafts-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents less bank overdraft</link:label>
    <link:label xlink:label="abev_CashAndCashEquivalentsAfterBankOverdrafts-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents less bank overdrafts at beginning of year</link:label>
    <link:label xlink:label="abev_CashAndCashEquivalentsAfterBankOverdrafts-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents less bank overdrafts at end of year</link:label>
    <link:label xlink:label="abev_CashAndCashEquivalentsAfterBankOverdrafts-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount, after bank overdrafts, of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_CashAndCashEquivalentsAfterBankOverdrafts" xlink:to="abev_CashAndCashEquivalentsAfterBankOverdrafts-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_PaymentsOnNetOfFinanceCostsOtherThanInterests" xlink:label="abev_PaymentsOnNetOfFinanceCostsOtherThanInterests" xlink:type="locator"/>
    <link:label xlink:label="abev_PaymentsOnNetOfFinanceCostsOtherThanInterests-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_PaymentsOnNetOfFinanceCostsOtherThanInterests</link:label>
    <link:label xlink:label="abev_PaymentsOnNetOfFinanceCostsOtherThanInterests-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Cash net of finance costs other than interests</link:label>
    <link:label xlink:label="abev_PaymentsOnNetOfFinanceCostsOtherThanInterests-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cash outflow for payment of net of finance costs other than interests, classified as financing activities.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_PaymentsOnNetOfFinanceCostsOtherThanInterests" xlink:to="abev_PaymentsOnNetOfFinanceCostsOtherThanInterests-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DeferredTaxesNotRelatedToTaxLossesMember" xlink:label="abev_DeferredTaxesNotRelatedToTaxLossesMember" xlink:type="locator"/>
    <link:label xlink:label="abev_DeferredTaxesNotRelatedToTaxLossesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred taxes not related to tax losses [member]</link:label>
    <link:label xlink:label="abev_DeferredTaxesNotRelatedToTaxLossesMember-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refers to information regarding deferred taxes not related to tax losses.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DeferredTaxesNotRelatedToTaxLossesMember" xlink:to="abev_DeferredTaxesNotRelatedToTaxLossesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DividendsAndInterestOnCapitalPaidBasedOnProfit" xlink:label="abev_DividendsAndInterestOnCapitalPaidBasedOnProfit" xlink:type="locator"/>
    <link:label xlink:label="abev_DividendsAndInterestOnCapitalPaidBasedOnProfit-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends and Interest on capital paid based on profit</link:label>
    <link:label xlink:label="abev_DividendsAndInterestOnCapitalPaidBasedOnProfit-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The dividends and interest on capital paid based on profit.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DividendsAndInterestOnCapitalPaidBasedOnProfit" xlink:to="abev_DividendsAndInterestOnCapitalPaidBasedOnProfit-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_InterestOnProvisionForContingencies" xlink:label="abev_InterestOnProvisionForContingencies" xlink:type="locator"/>
    <link:label xlink:label="abev_InterestOnProvisionForContingencies-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">abev_InterestOnProvisionForContingencies</link:label>
    <link:label xlink:label="abev_InterestOnProvisionForContingencies-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest on provision for disputes and litigations</link:label>
    <link:label xlink:label="abev_InterestOnProvisionForContingencies-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The interest on provisions for contingencies.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_InterestOnProvisionForContingencies" xlink:to="abev_InterestOnProvisionForContingencies-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DescriptionOfAccountingPolicyForNewIFRSRelasesTextBlock" xlink:label="abev_DescriptionOfAccountingPolicyForNewIFRSRelasesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DescriptionOfAccountingPolicyForNewIFRSRelasesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for new IFRS releases [text block]</link:label>
    <link:label xlink:label="abev_DescriptionOfAccountingPolicyForNewIFRSRelasesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The description of the entity's accounting policy for new IFRS releases</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DescriptionOfAccountingPolicyForNewIFRSRelasesTextBlock" xlink:to="abev_DescriptionOfAccountingPolicyForNewIFRSRelasesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfPayrollAndRelatedBenefitsOfTheEntityTextBlock" xlink:label="abev_DisclosureOfPayrollAndRelatedBenefitsOfTheEntityTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfPayrollAndRelatedBenefitsOfTheEntityTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of payroll and related benefits of the entity [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfPayrollAndRelatedBenefitsOfTheEntityTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of payroll and related benefits of the entity.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfPayrollAndRelatedBenefitsOfTheEntityTextBlock" xlink:to="abev_DisclosureOfPayrollAndRelatedBenefitsOfTheEntityTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DisclosureOfEstimatedUsefulLivesOfMajorPropertyPlantAndEquipmentClassesTextBlock" xlink:label="abev_DisclosureOfEstimatedUsefulLivesOfMajorPropertyPlantAndEquipmentClassesTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DisclosureOfEstimatedUsefulLivesOfMajorPropertyPlantAndEquipmentClassesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of estimated useful lives of major property, plant and equipment classes [text block]</link:label>
    <link:label xlink:label="abev_DisclosureOfEstimatedUsefulLivesOfMajorPropertyPlantAndEquipmentClassesTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of estimated useful lives of major property, plant and equipment classes.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DisclosureOfEstimatedUsefulLivesOfMajorPropertyPlantAndEquipmentClassesTextBlock" xlink:to="abev_DisclosureOfEstimatedUsefulLivesOfMajorPropertyPlantAndEquipmentClassesTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AssetsHeldAsCollateralPermittedToBeSoldOrRepledgedAtFairValue" xlink:label="ifrs-full_AssetsHeldAsCollateralPermittedToBeSoldOrRepledgedAtFairValue" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AssetsHeldAsCollateralPermittedToBeSoldOrRepledgedAtFairValue-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Collateral given for own liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsHeldAsCollateralPermittedToBeSoldOrRepledgedAtFairValue" xlink:to="ifrs-full_AssetsHeldAsCollateralPermittedToBeSoldOrRepledgedAtFairValue-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentLiabilities" xlink:label="ifrs-full_CurrentLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_CurrentLiabilities</link:label>
    <link:label xlink:label="ifrs-full_CurrentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Current liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncontrollingInterests" xlink:label="ifrs-full_NoncontrollingInterests" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_NoncontrollingInterests-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-controlling interests</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterests" xlink:to="ifrs-full_NoncontrollingInterests-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:label="ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests</link:label>
    <link:label xlink:label="ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proportion of ownership interests held by non-controlling interests</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:to="ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_ProfitLossAttributableToNoncontrollingInterests</link:label>
    <link:label xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interests</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ProfitLossAttributableToNoncontrollingInterests-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Main group companies</link:label>
    <link:label xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in subsidiary</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for subsidiaries [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiaries [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of subsidiaries [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory" xlink:to="ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:label="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Estimates of amounts of possible losses</link:label>
    <link:label xlink:label="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated financial effect of contingent liabilities</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities" xlink:to="ifrs-full_EstimatedFinancialEffectOfContingentLiabilities-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AverageEffectiveTaxRate" xlink:label="ifrs-full_AverageEffectiveTaxRate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AverageEffectiveTaxRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effective tax rate</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AverageEffectiveTaxRate" xlink:to="ifrs-full_AverageEffectiveTaxRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AverageForeignExchangeRate" xlink:label="ifrs-full_AverageForeignExchangeRate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_AverageForeignExchangeRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Average rate</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AverageForeignExchangeRate" xlink:to="ifrs-full_AverageForeignExchangeRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfContingentLiabilitiesExplanatory" xlink:label="ifrs-full_DisclosureOfContingentLiabilitiesExplanatory" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_DisclosureOfContingentLiabilitiesExplanatory-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of contingent liabilities [text block]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfContingentLiabilitiesExplanatory" xlink:to="ifrs-full_DisclosureOfContingentLiabilitiesExplanatory-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BalancesWithBanks" xlink:label="ifrs-full_BalancesWithBanks" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BalancesWithBanks-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current bank accounts</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BalancesWithBanks" xlink:to="ifrs-full_BalancesWithBanks-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:label="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank overdrafts</link:label>
    <link:label xlink:label="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Bank overdrafts</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents" xlink:to="ifrs-full_BankOverdraftsClassifiedAsCashEquivalents-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PastDueStatusAxis" xlink:label="ifrs-full_PastDueStatusAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PastDueStatusAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Past due status [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PastDueStatusAxis" xlink:to="ifrs-full_PastDueStatusAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PastDueStatusMember" xlink:label="ifrs-full_PastDueStatusMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_PastDueStatusMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Past due status [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PastDueStatusMember" xlink:to="ifrs-full_PastDueStatusMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts" xlink:label="ifrs-full_ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments - Bond 2017</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts" xlink:to="ifrs-full_ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_Borrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings</link:label>
    <link:label xlink:label="ifrs-full_Borrowings-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total borrowings</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Borrowings" xlink:to="ifrs-full_Borrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest-bearing loans and borrowings, current</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings" xlink:to="ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BorrowingCostsCapitalised" xlink:label="ifrs-full_BorrowingCostsCapitalised" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BorrowingCostsCapitalised-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_BorrowingCostsCapitalised</link:label>
    <link:label xlink:label="ifrs-full_BorrowingCostsCapitalised-label" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Capitalized borrowings</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingCostsCapitalised" xlink:to="ifrs-full_BorrowingCostsCapitalised-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_LongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest-bearing loans and borrowings, noncurrent</link:label>
    <link:label xlink:label="ifrs-full_LongtermBorrowings-label" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest-bearing loans and borrowings</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LongtermBorrowings" xlink:to="ifrs-full_LongtermBorrowings-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BorrowingsByNameMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings by name [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsByNameMember" xlink:to="ifrs-full_BorrowingsByNameMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BorrowingsByNameAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings by name [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="ifrs-full_BorrowingsInterestRate" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BorrowingsInterestRate-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Average rate percentage</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRate" xlink:to="ifrs-full_BorrowingsInterestRate-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BottomOfRangeMember" xlink:label="ifrs-full_BottomOfRangeMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BottomOfRangeMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bottom of range [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BrandNamesMember" xlink:label="ifrs-full_BrandNamesMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BrandNamesMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brand names [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BrandNamesMember" xlink:to="ifrs-full_BrandNamesMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for business combinations [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BusinessCombinationsAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business combinations [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_BusinessCombinationsAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BuildingsMember" xlink:label="ifrs-full_BuildingsMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_BuildingsMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Buildings [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BuildingsMember" xlink:to="ifrs-full_BuildingsMember-label" xlink:type="arc"/>
    <link:loc xlink:href="abev-20171231.xsd#abev_DescriptionOfAccountingPolicyForTheBasisOfConsolidationTextBlock" xlink:label="abev_DescriptionOfAccountingPolicyForTheBasisOfConsolidationTextBlock" xlink:type="locator"/>
    <link:label xlink:label="abev_DescriptionOfAccountingPolicyForTheBasisOfConsolidationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for the basis of consolidation [text block]</link:label>
    <link:label xlink:label="abev_DescriptionOfAccountingPolicyForTheBasisOfConsolidationTextBlock-label" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The description of the accounting policy for the basis of consolidation.</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="abev_DescriptionOfAccountingPolicyForTheBasisOfConsolidationTextBlock" xlink:to="abev_DescriptionOfAccountingPolicyForTheBasisOfConsolidationTextBlock-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CapitalReserve" xlink:label="ifrs-full_CapitalReserve" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CapitalReserve-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserves</link:label>
    <link:label xlink:label="ifrs-full_CapitalReserve-label" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance, capital reserves</link:label>
    <link:label xlink:label="ifrs-full_CapitalReserve-label" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance, capital reserves</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CapitalReserve" xlink:to="ifrs-full_CapitalReserve-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CapitalReserveMember" xlink:label="ifrs-full_CapitalReserveMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CapitalReserveMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital reserve [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CapitalReserveMember" xlink:to="ifrs-full_CapitalReserveMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GrossCarryingAmountMember" xlink:label="ifrs-full_GrossCarryingAmountMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_GrossCarryingAmountMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross carrying amount [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossCarryingAmountMember" xlink:to="ifrs-full_GrossCarryingAmountMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CarryingAmountMember" xlink:label="ifrs-full_CarryingAmountMember" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CarryingAmountMember-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying amount [member]</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountMember" xlink:to="ifrs-full_CarryingAmountMember-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashOnHand" xlink:label="ifrs-full_CashOnHand" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_CashOnHand-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashOnHand" xlink:to="ifrs-full_CashOnHand-label" xlink:type="arc"/>
    <link:loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:type="locator"/>
    <link:label xlink:label="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short term bank deposits (i)</link:label>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents-label" xlink:type="arc"/>
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    <link:label xlink:label="ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan-label" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan</link:label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>16
<FILENAME>abev-20171231_pre.xml
<DESCRIPTION>XBRL PRESENTATION FILE
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<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822480704">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2017 </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">AMBEV S.A.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001565025<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">abev<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Large Accelerated Filer<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
<td class="text">Yes<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding (in shares)</a></td>
<td class="nump">15,710,221,382<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">20-F<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 31,  2017<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2017<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">FY<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
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<td>xbrli:gMonthDayItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
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<td>dei_</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>18
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822910768">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Consolidated Income Statements - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 47,899.3<span></span>
</td>
<td class="nump">R$ 45,602.6<span></span>
</td>
<td class="nump">R$ 46,720.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Cost of sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(18,041.8)<span></span>
</td>
<td class="num">(16,678.0)<span></span>
</td>
<td class="num">(16,061.4)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">29,857.5<span></span>
</td>
<td class="nump">28,924.6<span></span>
</td>
<td class="nump">30,658.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DistributionCosts', window );">Distribution expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(6,295.5)<span></span>
</td>
<td class="num">(6,085.5)<span></span>
</td>
<td class="num">(5,833.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesAndMarketingExpense', window );">Sales and marketing expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,620.0)<span></span>
</td>
<td class="num">(5,925.0)<span></span>
</td>
<td class="num">(5,344.7)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">Administrative expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,623.8)<span></span>
</td>
<td class="num">(2,166.1)<span></span>
</td>
<td class="num">(2,281.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income/(expenses), net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,217.3<span></span>
</td>
<td class="nump">1,223.1<span></span>
</td>
<td class="nump">1,936.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ExceptionalItems', window );">Exceptional items</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(108.7)<span></span>
</td>
<td class="nump">1,134.3<span></span>
</td>
<td class="num">(357.2)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Income from operations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16,426.8<span></span>
</td>
<td class="nump">17,105.4<span></span>
</td>
<td class="nump">18,778.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );">Finance cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(4,268.3)<span></span>
</td>
<td class="num">(4,597.9)<span></span>
</td>
<td class="num">(3,562.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );">Finance income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">774.4<span></span>
</td>
<td class="nump">895.9<span></span>
</td>
<td class="nump">1,294.2<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Net finance cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(3,493.9)<span></span>
</td>
<td class="num">(3,702.0)<span></span>
</td>
<td class="num">(2,268.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of result of joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(3.1)<span></span>
</td>
<td class="num">(5.0)<span></span>
</td>
<td class="nump">3.1<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12,929.8<span></span>
</td>
<td class="nump">13,398.4<span></span>
</td>
<td class="nump">16,513.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,079.3)<span></span>
</td>
<td class="num">(315.0)<span></span>
</td>
<td class="num">(3,634.2)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,850.5<span></span>
</td>
<td class="nump">13,083.4<span></span>
</td>
<td class="nump">12,879.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToAbstract', window );"><strong>Attributable to:</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Equity holders of Ambev</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,332.0<span></span>
</td>
<td class="nump">12,546.6<span></span>
</td>
<td class="nump">12,423.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 518.5<span></span>
</td>
<td class="nump">R$ 536.8<span></span>
</td>
<td class="nump">R$ 455.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShare', window );">Basic earnings per share &#8211; common - R$ (in BRL per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 0.47<span></span>
</td>
<td class="nump">R$ 0.80<span></span>
</td>
<td class="nump">R$ 0.79<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShare', window );">Diluted earnings per share &#8211; common - R$ (in BRL per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 0.46<span></span>
</td>
<td class="nump">R$ 0.79<span></span>
</td>
<td class="nump">R$ 0.79<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Expressed in Brazilian Reais.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ExceptionalItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of exceptional items recorded in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ExceptionalItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2017-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2017-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CostOfSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs relating to expenses directly or indirectly attributed to the goods or services sold, which may include, but are not limited to, costs previously included in the measurement of inventory that has now been sold, unallocated production overheads and abnormal amounts of production costs of inventories.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CostOfSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutedEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator), divided by the weighted average number of ordinary shares outstanding during the period (the denominator), both adjusted for the effects of all dilutive potential ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2017-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2017-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DistributionCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs relating to the distribution of goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DistributionCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncomeCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or cost associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncomeCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue less cost of sales. [Refer: Cost of sales; Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations. [Refer: Continuing operations [member]; Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherOperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income (expense) that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherOperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) attributable to non-controlling interests. [Refer: Profit (loss); Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 12<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_12_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81B_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) attributable to owners of the parent. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81B_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing operations before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from operating activities of the entity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2017-01-01<br> -Paragraph IE33<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=32&amp;date=2017-03-01&amp;anchor=para_IE33&amp;doctype=Illustrative%20Examples<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 18<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=18&amp;date=2017-03-02&amp;anchor=para_35_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SalesAndMarketingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to the marketing and selling of goods or services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SalesAndMarketingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of joint ventures accounted for using the equity method. [Refer: Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>19
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822669216">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Consolidated Statements of Comprehensive Income - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net income</a></td>
<td class="nump">R$ 7,850.5<span></span>
</td>
<td class="nump">R$ 13,083.4<span></span>
</td>
<td class="nump">R$ 12,879.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract', window );"><strong>Items that will not be recycled to profit or loss:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Other comprehensive income, net of tax, gains (losses) on revaluation</a></td>
<td class="nump">124.6<span></span>
</td>
<td class="num">(129.6)<span></span>
</td>
<td class="num">(24.5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExchangeDifferencesOnTranslationAbstract', window );"><strong>Exchange differences on translation of foreign operations gains/(losses)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax', window );">Investment hedge in foreign operations</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">23.3<span></span>
</td>
<td class="num">(1,859.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnChangeInValueOfTimeValueOfOptionsNetOfTax', window );">Investment hedge - put option granted on subsidiary</a></td>
<td class="nump">61.7<span></span>
</td>
<td class="nump">707.8<span></span>
</td>
<td class="num">(1,071.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesOnOtherExchangeDifferencesOnTranslationNetOfTax', window );">Gains/losses on translation of other foreign operations</a></td>
<td class="nump">1,890.6<span></span>
</td>
<td class="num">(4,858.8)<span></span>
</td>
<td class="nump">6,344.6<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax', window );">Gains/losses on translation of foreign operations</a></td>
<td class="nump">1,952.3<span></span>
</td>
<td class="num">(4,127.7)<span></span>
</td>
<td class="nump">3,414.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowHedgesAbstract', window );"><strong>Cash flow hedge - gains/(losses)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax', window );">Recognized in Equity (Hedge reserve)</a></td>
<td class="nump">189.3<span></span>
</td>
<td class="num">(579.3)<span></span>
</td>
<td class="nump">1,634.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForAmountsTransferredToInitialCarryingAmountOfHedgedItems', window );">Removed from Equity (Hedge reserve) and included in profit or loss</a></td>
<td class="nump">324.4<span></span>
</td>
<td class="num">(494.0)<span></span>
</td>
<td class="num">(970.0)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Total cash flow hedge</a></td>
<td class="nump">513.7<span></span>
</td>
<td class="num">(1,073.3)<span></span>
</td>
<td class="nump">664.6<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncome', window );">Other comprehensive (loss)/income</a></td>
<td class="nump">2,590.6<span></span>
</td>
<td class="num">(5,330.6)<span></span>
</td>
<td class="nump">4,054.3<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income</a></td>
<td class="nump">10,441.1<span></span>
</td>
<td class="nump">7,752.8<span></span>
</td>
<td class="nump">16,933.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract', window );"><strong>Attributable to</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent', window );">Equity holders of Ambev</a></td>
<td class="nump">9,891.7<span></span>
</td>
<td class="nump">7,610.4<span></span>
</td>
<td class="nump">16,086.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests', window );">Non-controlling interest</a></td>
<td class="nump">R$ 549.4<span></span>
</td>
<td class="nump">R$ 142.4<span></span>
</td>
<td class="nump">R$ 847.0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_GainsLossesOnOtherExchangeDifferencesOnTranslationNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on exchange differences on the translation of financial statements of other foreign operations, net of tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_GainsLossesOnOtherExchangeDifferencesOnTranslationNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForAmountsTransferredToInitialCarryingAmountOfHedgedItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts removed from equity and included in the initial cost or other carrying amount of a non-financial asset (liability) whose acquisition or incurrence was a hedged, highly probable forecast transaction, net of tax. [Refer: Carrying amount [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_23_e&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForAmountsTransferredToInitialCarryingAmountOfHedgedItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowHedgesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowHedgesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to non-controlling interests. [Refer: Comprehensive income; Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81B_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of comprehensive income attributable to owners of the parent. [Refer: Comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81B<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81B_b_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExchangeDifferencesOnTranslationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExchangeDifferencesOnTranslationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on cash flow hedges, net of tax. [Refer: Cash flow hedges [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_23_c&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 24C<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_24C_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 24E<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_24E_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnChangeInValueOfTimeValueOfOptionsNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on change in value of time value of options, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnChangeInValueOfTimeValueOfOptionsNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on exchange differences on the translation of financial statements of foreign operations, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in other comprehensive income on hedges of net investments in foreign operations, net of tax. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 39<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=39&amp;date=2017-03-01&amp;anchor=para_102_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 24C<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_24C_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 24E<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_24E_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 9<br> -IssueDate 2017-01-01<br> -Paragraph 6.5.13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=9&amp;date=2017-03-01&amp;anchor=para_6.5.13_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income and expense (including reclassification adjustments) that is not recognised in profit or loss as required or permitted by IFRSs. [Refer: IFRSs [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_viii&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to cash flow hedges. [Refer: Cash flow hedges [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to gains (losses) in relation to changes in the revaluation surplus. [Refer: Other comprehensive income; Revaluation surplus]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
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<SEQUENCE>20
<FILENAME>R4.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6823399136">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 18,822.3<span></span>
</td>
<td class="nump">R$ 19,153.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">31,401.9<span></span>
</td>
<td class="nump">30,511.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,674.7<span></span>
</td>
<td class="nump">5,245.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InvestmentsInAssociates', window );">Investments in associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">238.0<span></span>
</td>
<td class="nump">300.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentHeldtomaturityInvestments', window );">Investment securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">122.0<span></span>
</td>
<td class="nump">104.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDeferredTaxAssets', window );">Net deferred tax assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,279.3<span></span>
</td>
<td class="nump">2,268.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentRecognisedAssetsDefinedBenefitPlan', window );">Employee benefits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">58.4<span></span>
</td>
<td class="nump">33.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialAssets', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">35.2<span></span>
</td>
<td class="nump">16.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NoncurrentRecoverablesFromIncomeTaxAndSocialContributions', window );">Income tax and social contributions recoverable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,312.7<span></span>
</td>
<td class="nump">4.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax', window );">Other recoverable taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">225.0<span></span>
</td>
<td class="nump">343.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherNoncurrentAssets', window );">Other assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,964.4<span></span>
</td>
<td class="nump">1,973.6<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentAssets', window );">Non-current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">62,133.9<span></span>
</td>
<td class="nump">59,954.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Investment securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11.9<span></span>
</td>
<td class="nump">282.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Inventories', window );">Inventories</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,319.0<span></span>
</td>
<td class="nump">4,347.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Trade receivable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,944.8<span></span>
</td>
<td class="nump">4,368.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialAssets', window );">Derivative financial asset instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">350.0<span></span>
</td>
<td class="nump">196.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CurrentRecoverablesFromIncomeTaxAndSocialContributions', window );">Income tax and social contributions recoverable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,770.4<span></span>
</td>
<td class="nump">4,693.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax', window );">Other recoverable taxes</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">600.2<span></span>
</td>
<td class="nump">729.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,354.5<span></span>
</td>
<td class="nump">7,876.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCurrentAssets', window );">Other assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,367.2<span></span>
</td>
<td class="nump">1,392.1<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentAssets', window );">Current assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">24,718.0<span></span>
</td>
<td class="nump">23,886.8<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">86,851.9<span></span>
</td>
<td class="nump">83,841.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAbstract', window );"><strong>Equity</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssuedCapital', window );">Issued capital</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">57,614.1<span></span>
</td>
<td class="nump">57,614.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CapitalReserve', window );">Reserves</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">63,361.2<span></span>
</td>
<td class="nump">64,230.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReserveOfCarryingValueAdjustments', window );">Carrying value adjustments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(74,966.5)<span></span>
</td>
<td class="num">(77,019.1)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAttributableToOwnersOfParent', window );">Equity attributable to equity holders of Ambev</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">46,008.8<span></span>
</td>
<td class="nump">44,825.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncontrollingInterests', window );">Non-controlling interests</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,974.0<span></span>
</td>
<td class="nump">1,826.3<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Total Equity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">47,982.8<span></span>
</td>
<td class="nump">46,651.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,231.9<span></span>
</td>
<td class="nump">1,765.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentProvisionsForEmployeeBenefits', window );">Employee benefits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,310.7<span></span>
</td>
<td class="nump">2,137.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2.4<span></span>
</td>
<td class="nump">27.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDeferredTaxLiabilities', window );">Deferred tax liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,329.2<span></span>
</td>
<td class="nump">2,329.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CurrentTaxAndContributionsLiabilitiesNoncurrentSpecialProgramForTaxRegulation', window );">Income tax and social contribution payable</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">2,418.0<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CurrentTaxAndContributionsLiabilitiesNoncurrent', window );">Taxes and contributions payable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">771.6<span></span>
</td>
<td class="nump">681.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentPayables', window );">Trade payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">175.1<span></span>
</td>
<td class="nump">237.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentProvisions', window );">Provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">512.6<span></span>
</td>
<td class="nump">765.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentFinancialLiabilities', window );">Put option granted on subsidiary and other liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">429.1<span></span>
</td>
<td class="nump">471.8<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentLiabilities', window );">Non-current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,180.6<span></span>
</td>
<td class="nump">8,416.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BankOverdraftsClassifiedAsCashEquivalents', window );">Bank overdrafts</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1.8<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,321.1<span></span>
</td>
<td class="nump">3,630.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermEmployeeBenefitsAccruals', window );">Wages and salaries</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,047.2<span></span>
</td>
<td class="nump">686.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CurrentDividendAndInterestPayables', window );">Dividends and interest on shareholders&#8217; equity payable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,778.6<span></span>
</td>
<td class="nump">1,714.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentDerivativeFinancialLiabilities', window );">Derivative financial instruments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">215.1<span></span>
</td>
<td class="nump">686.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CurrentTaxAndContributionsLiabilitiesCurrent', window );">Income tax and social contribution payable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,668.4<span></span>
</td>
<td class="nump">904.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax', window );">Taxes and contributions payable</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,825.4<span></span>
</td>
<td class="nump">3,378.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Trade payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11,854.0<span></span>
</td>
<td class="nump">10,868.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentProvisions', window );">Provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">169.0<span></span>
</td>
<td class="nump">168.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentFinancialLiabilities', window );">Put option granted on subsidiary and other liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,807.9<span></span>
</td>
<td class="nump">6,735.8<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentLiabilities', window );">Current liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">28,688.5<span></span>
</td>
<td class="nump">28,773.6<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Liabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">38,869.1<span></span>
</td>
<td class="nump">37,190.1<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total equity and liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 86,851.9<span></span>
</td>
<td class="nump">R$ 83,841.4<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">During the third quarter, the Company joined a Special Program for Tax Regulation ("PERT 2017"). Additional information regarding the adherence are disclosed on Note 1 - Corporate information.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CurrentDividendAndInterestPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current dividends and interest payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CurrentDividendAndInterestPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CurrentRecoverablesFromIncomeTaxAndSocialContributions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current recoverables from income tax and social contributions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CurrentRecoverablesFromIncomeTaxAndSocialContributions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CurrentTaxAndContributionsLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current amount of current tax liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CurrentTaxAndContributionsLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CurrentTaxAndContributionsLiabilitiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current amount of current tax liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CurrentTaxAndContributionsLiabilitiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CurrentTaxAndContributionsLiabilitiesNoncurrentSpecialProgramForTaxRegulation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current amount of current tax liabilities related to a special program for tax regulation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CurrentTaxAndContributionsLiabilitiesNoncurrentSpecialProgramForTaxRegulation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NoncurrentRecoverablesFromIncomeTaxAndSocialContributions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current recoverables from income tax and social contributions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NoncurrentRecoverablesFromIncomeTaxAndSocialContributions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ReserveOfCarryingValueAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the carrying value adjustments recognised in other comprehensive income and accumulated in equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ReserveOfCarryingValueAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BankOverdraftsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that has been withdrawn from an account in excess of existing cash balances. This is considered a short-term extension of credit by the bank. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BankOverdraftsClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CapitalReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the capital reserves.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CapitalReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that the entity (a) expects to realise or intends to sell or consume in its normal operating cycle; (b) holds primarily for the purpose of trading; (c) expects to realise within twelve months after the reporting period; or (d) classifies as cash or cash equivalents (as defined in IAS 7) unless the asset is restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period. [Refer: Assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_i&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current borrowings and current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current derivative financial assets. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that: (a) the entity expects to settle in its normal operating cycle; (b) the entity holds primarily for the purpose of trading; (c) are due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement for at least twelve months after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_iii&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 69<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables on social security and taxes other than incomes tax. [Refer: Payables on social security and taxes other than income tax]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPayablesOnSocialSecurityAndTaxesOtherThanIncomeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current provisions. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph l<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_l&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current receivables from taxes other than income tax. [Refer: Receivables from taxes other than income tax]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentReceivablesFromTaxesOtherThanIncomeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of equity attributable to the owners of the parent. This specifically excludes non-controlling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph r<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_r&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 134<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_134_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 135<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_135_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of identifiable non-monetary assets without physical substance. This amount does not include goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Inventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 36<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_36_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_g&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Inventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InvestmentsInAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of investments in associates. [Refer: Associates [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InvestmentsInAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssuedCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal value of capital issued.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssuedCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of present obligations of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax assets net of deferred tax liabilities, when the absolute amount of deferred tax assets is greater than the absolute amount of deferred tax liabilities. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities net of deferred tax assets, when the absolute amount of deferred tax liabilities is greater than the absolute amount of deferred tax assets. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of equity in a subsidiary not attributable, directly or indirectly, to a parent. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 12<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_12_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph q<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_q&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 10<br> -IssueDate 2017-01-01<br> -Paragraph 22<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=10&amp;date=2017-03-01&amp;anchor=para_22&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that do not meet the definition of current assets. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_ii&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial assets. [Refer: Derivative financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentDerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current derivative financial liabilities. [Refer: Derivative financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentDerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current financial liabilities. [Refer: Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentHeldtomaturityInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current held-to-maturity investments. [Refer: Held-to-maturity investments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentHeldtomaturityInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that do not meet the definition of current liabilities. [Refer: Current liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_iv&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 69<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_69&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current trade payables and non-current other payables. [Refer: Other non-current payables; Non-current trade payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph k<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current provisions. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph l<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_l&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentProvisionsForEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current provisions for employee benefits. [Refer: Provisions for employee benefits]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentProvisionsForEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current receivables from taxes other than income tax. [Refer: Receivables from taxes other than income tax]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentReceivablesFromTaxesOtherThanIncomeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentRecognisedAssetsDefinedBenefitPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current net defined benefit asset. [Refer: Net defined benefit asset]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentRecognisedAssetsDefinedBenefitPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current assets that the entity does not separately disclose in the same statement or note. [Refer: Current assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current assets that the entity does not separately disclose in the same statement or note. [Refer: Non-current assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermEmployeeBenefitsAccruals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of accruals for employee benefits (other than termination benefits) that are expected to be settled wholly within twelve months after the end of the annual reporting period in which the employees render the related services. [Refer: Accruals classified as current]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermEmployeeBenefitsAccruals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph k<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>21
<FILENAME>R5.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6826392640">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Statements of Changes in Equity - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Issued capital [member]</div></th>
<th class="th"><div>Capital reserve [member]</div></th>
<th class="th"><div>Net income reserves [member]</div></th>
<th class="th"><div>Retained earnings [member]</div></th>
<th class="th"><div>Carrying value adjustments [member]</div></th>
<th class="th"><div>Equity attributable to owners of parent [member]</div></th>
<th class="th"><div>Non-controlling interests [member]</div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2014</a></td>
<td class="nump">R$ 57,582.4<span></span>
</td>
<td class="nump">R$ 55,023.3<span></span>
</td>
<td class="nump">R$ 4,883.8<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">R$ (75,267.9)<span></span>
</td>
<td class="nump">R$ 42,221.6<span></span>
</td>
<td class="nump">R$ 1,423.1<span></span>
</td>
<td class="nump">R$ 43,644.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net Income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">12,423.8<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">12,423.8<span></span>
</td>
<td class="nump">455.3<span></span>
</td>
<td class="nump">12,879.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAbstract', window );"><strong>Comprehensive income:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Gains/(losses) on translation of foreign operations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">3,018.9<span></span>
</td>
<td class="nump">3,018.9<span></span>
</td>
<td class="nump">395.3<span></span>
</td>
<td class="nump">3,414.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Cash flow hedges</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">666.2<span></span>
</td>
<td class="nump">666.2<span></span>
</td>
<td class="num">(1.5)<span></span>
</td>
<td class="nump">664.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Actuarial gain/(losses)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(22.4)<span></span>
</td>
<td class="num">(22.4)<span></span>
</td>
<td class="num">(2.1)<span></span>
</td>
<td class="num">(24.5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">12,423.8<span></span>
</td>
<td class="nump">3,662.7<span></span>
</td>
<td class="nump">16,086.5<span></span>
</td>
<td class="nump">847.0<span></span>
</td>
<td class="nump">16,933.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity', window );">Options granted on subsidiary</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(189.4)<span></span>
</td>
<td class="num">(189.4)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(189.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners', window );">Gains/(losses) of controlling interest&#180;s share</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">13.5<span></span>
</td>
<td class="nump">13.5<span></span>
</td>
<td class="num">(7.9)<span></span>
</td>
<td class="nump">5.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends distributed</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(2,352.4)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(2,352.4)<span></span>
</td>
<td class="num">(260.4)<span></span>
</td>
<td class="num">(2,612.8)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity', window );">Interest on own capital</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(1,979.8)<span></span>
</td>
<td class="num">(4,866.3)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(6,846.1)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(6,846.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions', window );">Acquired shares and result on treasury shares</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(817.0)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(817.0)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(817.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Share-based payment</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">189.9<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">189.9<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">189.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent', window );">Prescribed dividends</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">16.2<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">16.2<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">16.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting', window );">Reversal effect revaluation of property, plant and equipment under the predecessor basis accounting</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">75.9<span></span>
</td>
<td class="num">(75.9)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInFiscalIncentiveReserve', window );">Fiscal incentive reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,143.6<span></span>
</td>
<td class="num">(1,143.6)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInvestmentsReserve', window );">Investments reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,114.4<span></span>
</td>
<td class="num">(2,114.4)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2014</a></td>
<td class="nump">57,582.4<span></span>
</td>
<td class="nump">55,023.3<span></span>
</td>
<td class="nump">4,883.8<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(75,267.9)<span></span>
</td>
<td class="nump">42,221.6<span></span>
</td>
<td class="nump">1,423.1<span></span>
</td>
<td class="nump">43,644.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAbstract', window );"><strong>Comprehensive income:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net Income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">12,423.8<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">12,423.8<span></span>
</td>
<td class="nump">455.3<span></span>
</td>
<td class="nump">12,879.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Capital increase</a></td>
<td class="nump">31.7<span></span>
</td>
<td class="num">(22.6)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">9.1<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">9.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInAdditionalInterestOnShareholdersEquity', window );">Additional Interest on shareholders&#8217; equity</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,039.2<span></span>
</td>
<td class="num">(2,039.2)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2015</a></td>
<td class="nump">57,614.1<span></span>
</td>
<td class="nump">54,373.6<span></span>
</td>
<td class="nump">8,201.2<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(71,857.0)<span></span>
</td>
<td class="nump">48,331.9<span></span>
</td>
<td class="nump">2,001.8<span></span>
</td>
<td class="nump">50,333.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net Income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">12,546.6<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">12,546.6<span></span>
</td>
<td class="nump">536.8<span></span>
</td>
<td class="nump">13,083.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAbstract', window );"><strong>Comprehensive income:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Gains/(losses) on translation of foreign operations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(3,728.8)<span></span>
</td>
<td class="num">(3,728.8)<span></span>
</td>
<td class="num">(398.9)<span></span>
</td>
<td class="num">(4,127.7)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Cash flow hedges</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(1,076.7)<span></span>
</td>
<td class="num">(1,076.7)<span></span>
</td>
<td class="nump">3.4<span></span>
</td>
<td class="num">(1,073.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Actuarial gain/(losses)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(130.7)<span></span>
</td>
<td class="num">(130.7)<span></span>
</td>
<td class="nump">1.1<span></span>
</td>
<td class="num">(129.6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">12,546.6<span></span>
</td>
<td class="num">(4,936.2)<span></span>
</td>
<td class="nump">7,610.4<span></span>
</td>
<td class="nump">142.4<span></span>
</td>
<td class="nump">7,752.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity', window );">Options granted on subsidiary</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(144.1)<span></span>
</td>
<td class="num">(144.1)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(144.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners', window );">Gains/(losses) of controlling interest&#180;s share</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(2.8)<span></span>
</td>
<td class="num">(2.8)<span></span>
</td>
<td class="nump">37.6<span></span>
</td>
<td class="nump">34.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends distributed</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(5,651.8)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(5,651.8)<span></span>
</td>
<td class="num">(355.5)<span></span>
</td>
<td class="num">(6,007.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity', window );">Interest on own capital</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(2,039.2)<span></span>
</td>
<td class="num">(3,454.2)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(5,493.4)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(5,493.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions', window );">Acquired shares and result on treasury shares</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">94.8<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">94.8<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">94.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Share-based payment</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">61.5<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">61.5<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">61.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent', window );">Prescribed dividends</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">21.6<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">21.6<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">21.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting', window );">Reversal effect revaluation of property, plant and equipment under the predecessor basis accounting</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">75.9<span></span>
</td>
<td class="num">(75.9)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInFiscalIncentiveReserve', window );">Fiscal incentive reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,819.5<span></span>
</td>
<td class="num">(1,819.5)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInvestmentsReserve', window );">Investments reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,718.6<span></span>
</td>
<td class="num">(1,718.6)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2015</a></td>
<td class="nump">57,614.1<span></span>
</td>
<td class="nump">54,373.6<span></span>
</td>
<td class="nump">8,201.2<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(71,857.0)<span></span>
</td>
<td class="nump">48,331.9<span></span>
</td>
<td class="nump">2,001.8<span></span>
</td>
<td class="nump">50,333.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAbstract', window );"><strong>Comprehensive income:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net Income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">12,546.6<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">12,546.6<span></span>
</td>
<td class="nump">536.8<span></span>
</td>
<td class="nump">13,083.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity', window );">Exchange transaction of shareholdings</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(3.1)<span></span>
</td>
<td class="num">(3.1)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(3.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Capital increase</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2016</a></td>
<td class="nump">57,614.1<span></span>
</td>
<td class="nump">54,529.9<span></span>
</td>
<td class="nump">9,700.1<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(77,019.1)<span></span>
</td>
<td class="nump">44,825.0<span></span>
</td>
<td class="nump">1,826.3<span></span>
</td>
<td class="nump">46,651.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net Income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">7,332.0<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">7,332.0<span></span>
</td>
<td class="nump">518.5<span></span>
</td>
<td class="nump">7,850.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAbstract', window );"><strong>Comprehensive income:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Gains/(losses) on translation of foreign operations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,928.6<span></span>
</td>
<td class="nump">1,928.6<span></span>
</td>
<td class="nump">23.7<span></span>
</td>
<td class="nump">1,952.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Cash flow hedges</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">513.4<span></span>
</td>
<td class="nump">513.4<span></span>
</td>
<td class="nump">0.3<span></span>
</td>
<td class="nump">513.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Actuarial gain/(losses)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">117.7<span></span>
</td>
<td class="nump">117.7<span></span>
</td>
<td class="nump">6.9<span></span>
</td>
<td class="nump">124.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">7,332.0<span></span>
</td>
<td class="nump">2,559.7<span></span>
</td>
<td class="nump">9,891.7<span></span>
</td>
<td class="nump">549.4<span></span>
</td>
<td class="nump">10,441.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity', window );">Options granted on subsidiary</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(380.4)<span></span>
</td>
<td class="num">(380.4)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(380.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners', window );">Gains/(losses) of controlling interest&#180;s share</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(12.1)<span></span>
</td>
<td class="num">(12.1)<span></span>
</td>
<td class="nump">29.5<span></span>
</td>
<td class="nump">17.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity', window );">Tax on fictitious dividends</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(38.7)<span></span>
</td>
<td class="num">(38.7)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(38.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends distributed</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(3,612.8)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(3,612.8)<span></span>
</td>
<td class="num">(431.2)<span></span>
</td>
<td class="num">(4,044.0)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity', window );">Interest on own capital</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(3,770.1)<span></span>
</td>
<td class="num">(1,099.6)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(4,869.7)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(4,869.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions', window );">Acquired shares and result on treasury shares</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">13.7<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">13.7<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">13.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions', window );">Share-based payment</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">157.4<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">157.4<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">157.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent', window );">Prescribed dividends</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">34.7<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">34.7<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">34.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting', window );">Reversal effect revaluation of property, plant and equipment under the predecessor basis accounting</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">75.9<span></span>
</td>
<td class="num">(75.9)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInFiscalIncentiveReserve', window );">Fiscal incentive reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,552.3<span></span>
</td>
<td class="num">(1,552.3)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInvestmentsReserve', window );">Investments reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,177.9<span></span>
</td>
<td class="num">(1,177.9)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2016</a></td>
<td class="nump">57,614.1<span></span>
</td>
<td class="nump">54,529.9<span></span>
</td>
<td class="nump">9,700.1<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(77,019.1)<span></span>
</td>
<td class="nump">44,825.0<span></span>
</td>
<td class="nump">1,826.3<span></span>
</td>
<td class="nump">46,651.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncomeAbstract', window );"><strong>Comprehensive income:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net Income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">7,332.0<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">7,332.0<span></span>
</td>
<td class="nump">518.5<span></span>
</td>
<td class="nump">7,850.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Capital increase</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance at Dec. 31, 2017</a></td>
<td class="nump">R$ 57,614.1<span></span>
</td>
<td class="nump">R$ 54,701.0<span></span>
</td>
<td class="nump">R$ 8,660.2<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">R$ (74,966.5)<span></span>
</td>
<td class="nump">R$ 46,008.8<span></span>
</td>
<td class="nump">R$ 1,974.0<span></span>
</td>
<td class="nump">R$ 47,982.8<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in equity resulting from tax on fictitious dividends.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseDecreaseInAdditionalInterestOnShareholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in additional Interest on shareholder&#180;s equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseDecreaseInAdditionalInterestOnShareholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseDecreaseInFiscalIncentiveReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the fiscal incentive reserve.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseDecreaseInFiscalIncentiveReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseDecreaseInvestmentsReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in investments reserve.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseDecreaseInvestmentsReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the entity's equity resulting from the change in the shareholder's equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the entity's equity resulting from the change in the stock exchange transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the put options granted on subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The reversal effect revaluation of fixed assets under the predecessor basis accounting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncomeAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncomeAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends recognised as distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 107<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_107&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends recognised as distributions to owners of the parent. [Refer: Parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsRecognisedAsDistributionsToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from share-based payment transactions. [Refer: Equity]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from transactions with owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from treasury share transactions. [Refer: Equity; Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTreasuryShareTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssueOfEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in equity through the issue of equity instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssueOfEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to cash flow hedges. [Refer: Cash flow hedges [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to exchange differences when financial statements of foreign operations are translated. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to gains (losses) in relation to changes in the revaluation surplus. [Refer: Other comprehensive income; Revaluation surplus]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
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<DOCUMENT>
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<FILENAME>R6.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6823562816">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Consolidated of Cash Flow Statements - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net Income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 7,850.5<span></span>
</td>
<td class="nump">R$ 13,083.4<span></span>
</td>
<td class="nump">R$ 12,879.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss', window );">Depreciation, amortization and impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,612.1<span></span>
</td>
<td class="nump">3,512.0<span></span>
</td>
<td class="nump">3,074.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossReceivablesAndInventories', window );">Impairment losses on receivables and inventories</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">156.3<span></span>
</td>
<td class="nump">196.5<span></span>
</td>
<td class="nump">97.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AdjustmentsForIncreaseDecreaseInProvisionsAndEmployeeBenefitLiabilities', window );">Additions/(reversals) in provisions and employee benefits</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">168.3<span></span>
</td>
<td class="nump">347.1<span></span>
</td>
<td class="nump">483.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForFinanceIncomeCost', window );">Net finance cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,493.9<span></span>
</td>
<td class="nump">3,702.0<span></span>
</td>
<td class="nump">2,268.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment', window );">Losses/(gain) on sale of property, plant and equipment and intangible assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(49.4)<span></span>
</td>
<td class="num">(70.9)<span></span>
</td>
<td class="num">(27.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates', window );">Losses/(gain) on sale of operations in associates</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(41.7)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(25.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AdjustmentsForGainsLossesOnStockExchange', window );">Gains on exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="num">(1,240.0)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForSharebasedPayments', window );">Equity-settled share-based payment expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">209.3<span></span>
</td>
<td class="nump">170.3<span></span>
</td>
<td class="nump">197.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncomeTaxExpense', window );">Income tax expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,079.3<span></span>
</td>
<td class="nump">315.0<span></span>
</td>
<td class="nump">3,634.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of result of joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3.1<span></span>
</td>
<td class="nump">5.0<span></span>
</td>
<td class="num">(3.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherAdjustmentsForNoncashItems', window );">Other non-cash items included in the profit</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">196.3<span></span>
</td>
<td class="num">(737.4)<span></span>
</td>
<td class="num">(1,305.7)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ProfitLossBeforeWorkingCapitalChangesAndUseOfProvisions', window );">Cash flow from operating activities before changes in working capital and use of provisions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">20,678.0<span></span>
</td>
<td class="nump">19,283.0<span></span>
</td>
<td class="nump">21,272.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables', window );">(Increase)/decrease in trade and other receivables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(265.6)<span></span>
</td>
<td class="num">(578.4)<span></span>
</td>
<td class="num">(380.8)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories', window );">(Increase)/decrease in inventories</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(63.8)<span></span>
</td>
<td class="num">(437.1)<span></span>
</td>
<td class="num">(681.5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables', window );">Increase/(decrease) in trade and other payables</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(105.8)<span></span>
</td>
<td class="num">(565.1)<span></span>
</td>
<td class="nump">5,083.2<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperations', window );">Cash generated from operations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">20,242.8<span></span>
</td>
<td class="nump">17,702.4<span></span>
</td>
<td class="nump">25,293.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestPaidClassifiedAsOperatingActivities', window );">Interest paid</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(557.3)<span></span>
</td>
<td class="num">(724.9)<span></span>
</td>
<td class="num">(257.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestReceivedClassifiedAsOperatingActivities', window );">Interest received</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">337.9<span></span>
</td>
<td class="nump">597.7<span></span>
</td>
<td class="nump">656.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsReceivedClassifiedAsOperatingActivities', window );">Dividends received</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7.3<span></span>
</td>
<td class="nump">111.0<span></span>
</td>
<td class="nump">14.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities', window );">Income tax paid</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,156.6)<span></span>
</td>
<td class="num">(5,341.8)<span></span>
</td>
<td class="num">(2,126.1)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInOperatingActivities', window );">Cash flow from operating activities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17,874.1<span></span>
</td>
<td class="nump">12,344.4<span></span>
</td>
<td class="nump">23,580.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Proceeds from sale of property, plant and equipment and intangible assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">101.9<span></span>
</td>
<td class="nump">133.6<span></span>
</td>
<td class="nump">99.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">Proceeds from sale of subsidiaries operations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">94.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets', window );">Acquisition of property, plant and equipment and intangible assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(3,203.6)<span></span>
</td>
<td class="num">(4,132.7)<span></span>
</td>
<td class="num">(5,261.2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities', window );">Acquisition of subsidiaries, net of cash acquired</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(333.3)<span></span>
</td>
<td class="num">(1,824.2)<span></span>
</td>
<td class="num">(1,212.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities', window );">Acquisition of other investments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1.1)<span></span>
</td>
<td class="num">(37.6)<span></span>
</td>
<td class="num">(123.5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments', window );">Investment in short term debt securities and net proceeds/(acquisition) of debt securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">276.9<span></span>
</td>
<td class="num">(37.1)<span></span>
</td>
<td class="nump">403.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NetProceedsAcquisitionOfOtherAssets', window );">Net proceeds/(acquisition) of other assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">86.2<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2.0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInInvestingActivities', window );">Cash flow from investing activities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(3,073.0)<span></span>
</td>
<td class="num">(5,898.0)<span></span>
</td>
<td class="num">(5,997.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromIssueOfOrdinaryShares', window );">Capital increase</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">9.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares', window );">Proceeds/(repurchase) of treasury shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(38.6)<span></span>
</td>
<td class="nump">0.4<span></span>
</td>
<td class="num">(824.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities', window );">Proceeds from borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,904.4<span></span>
</td>
<td class="nump">3,792.0<span></span>
</td>
<td class="nump">4,964.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities', window );">Repayment of borrowings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,441.7)<span></span>
</td>
<td class="num">(1,896.2)<span></span>
</td>
<td class="num">(5,653.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PaymentsOnNetOfFinanceCostsOtherThanInterests', window );">Cash net of finance costs other than interests</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,459.5)<span></span>
</td>
<td class="num">(3,207.8)<span></span>
</td>
<td class="num">(2,326.9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsOfFinanceLeaseLiabilitiesClassifiedAsFinancingActivities', window );">Payment of finance lease liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(9.0)<span></span>
</td>
<td class="num">(2.9)<span></span>
</td>
<td class="num">(8.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsAndInterestPaidOnShareholdersEquity', window );">Interest on capital paid based on the investment reserve</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(8,819.8)<span></span>
</td>
<td class="num">(10,330.6)<span></span>
</td>
<td class="num">(11,490.2)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashFlowsFromUsedInFinancingActivities', window );">Cash flow from financing activities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(12,864.2)<span></span>
</td>
<td class="num">(11,645.1)<span></span>
</td>
<td class="num">(15,327.9)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents', window );">Net increase/(decrease) in cash and cash equivalents</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,936.9<span></span>
</td>
<td class="num">(5,198.7)<span></span>
</td>
<td class="nump">2,256.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CashAndCashEquivalentsAfterBankOverdrafts', window );">Cash and cash equivalents less bank overdrafts at beginning of year</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">7,876.8<span></span>
</td>
<td class="nump">13,617.7<span></span>
</td>
<td class="nump">9,623.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents', window );">Effect of exchange rate fluctuations</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">539.0<span></span>
</td>
<td class="num">(542.2)<span></span>
</td>
<td class="nump">1,738.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CashAndCashEquivalentsAfterBankOverdrafts', window );">Cash and cash equivalents less bank overdrafts at end of year</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 10,352.7<span></span>
</td>
<td class="nump">R$ 7,876.8<span></span>
</td>
<td class="nump">R$ 13,617.7<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Net of bank overdrafts.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AdjustmentsForGainsLossesOnStockExchange">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The adjustment for gains (losses) on stock exchanges.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AdjustmentsForGainsLossesOnStockExchange</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossReceivablesAndInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for impairment loss (reversal of impairment loss) on receivables and inventories recognised in profit or loss to reconcile profit (loss) to net cash flow from (used in) operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossReceivablesAndInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AdjustmentsForIncreaseDecreaseInProvisionsAndEmployeeBenefitLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in provisions and employee benefit liabilities to reconcile profit (loss) to net cash flow from (used in) operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AdjustmentsForIncreaseDecreaseInProvisionsAndEmployeeBenefitLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CashAndCashEquivalentsAfterBankOverdrafts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount, after bank overdrafts, of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CashAndCashEquivalentsAfterBankOverdrafts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DividendsAndInterestPaidOnShareholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The dividends and interest paid on shareholder's equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DividendsAndInterestPaidOnShareholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NetProceedsAcquisitionOfOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net proceeds (acquisition) of other assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NetProceedsAcquisitionOfOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PaymentsOnNetOfFinanceCostsOtherThanInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for payment of net of finance costs other than interests, classified as financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PaymentsOnNetOfFinanceCostsOtherThanInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ProfitLossBeforeWorkingCapitalChangesAndUseOfProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses, excluding the components of other comprehensive income and before the working capital changes and the use of provisions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ProfitLossBeforeWorkingCapitalChangesAndUseOfProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in inventories to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Inventories; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for decrease (increase) in trade and other receivables to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Trade and other receivables; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for depreciation and amortisation expense and impairment loss (reversal of impairment loss) to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Impairment loss; Depreciation and amortisation expense; Impairment loss (reversal of impairment loss) recognised in profit or loss; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForFinanceIncomeCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for net finance income or cost to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Finance income (cost); Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForFinanceIncomeCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for gain (loss) on disposals investments in subsidiaries, joint ventures and associates to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Associates [member]; Joint ventures [member]; Subsidiaries [member]; Investments in subsidiaries, joint ventures and associates; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForGainLossOnDisposalOfInvestmentsInSubsidiariesJointVenturesAndAssociates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for gain (loss) on disposals of property, plant and equipment to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss); Property, plant and equipment; Disposals, property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncomeTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for income tax expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncomeTaxExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for increase (decrease) in trade and other payables to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Trade and other payables; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForSharebasedPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for share-based payments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForSharebasedPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate cash flows arising from losing control of subsidiaries or other businesses, classified as investing activities. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 39<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_39&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow (outflow) due to a decrease (increase) in short-term deposits and investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInDecreaseIncreaseInShorttermDepositsAndInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) financing activities, which are activities that result in changes in the size and composition of the contributed equity and borrowings of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) investing activities, which are the acquisition and disposal of long-term assets and other investments not included in cash equivalents.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from (used in) operating activities, which are the principal revenue-producing activities of the entity and other activities that are not investing or financing activities. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_10&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 50<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_50_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsFromUsedInOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash from (used in) the entity's operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Section A Statement of cash flows for an entity other than a financial institution<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=sect_AStatementofcashflowsforanentityotherthanafinancialinstitution&amp;doctype=Illustrative%20Examples<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsFromUsedInOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 39<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_39&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsReceivedClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from dividends received, classified as operating activities. [Refer: Dividends received]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsReceivedClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The effect of exchange rate changes on cash and cash equivalents held or due in a foreign currency. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_28&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash flows from income taxes paid or refunded, classified as operating activities. [Refer: Income taxes paid (refund)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 14<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_14_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in cash and cash equivalents. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestPaidClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for interest paid, classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestPaidClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestReceivedClassifiedAsOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from interest received, classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestReceivedClassifiedAsOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherAdjustmentsForNoncashItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for non-cash items to reconcile profit (loss) to net cash flow from (used in) operating activities that the entity does not separately disclose in the same statement or note. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherAdjustmentsForNoncashItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to acquire equity or debt instruments of other entities (other than payments for those instruments considered to be cash equivalents or those held for dealing or trading purposes), classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsOfFinanceLeaseLiabilitiesClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for payment of finance lease liabilities, classified as financing activities. [Refer: Finance lease liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Note Expiry date 2019-01-01<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_17_e&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsOfFinanceLeaseLiabilitiesClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from borrowings obtained. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_17_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the disposal of property, plant and equipment, intangible assets other than goodwill, investment property and other non-current assets. [Refer: Intangible assets other than goodwill; Investment property; Other non-current assets; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromDisposalsOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromIssueOfOrdinaryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the issuing of ordinary shares. [Refer: Ordinary shares [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromIssueOfOrdinaryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the sale or issuing of treasury shares. [Refer: Sale or issue of treasury shares; Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProceedsFromSaleOrIssueOfTreasuryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchase of property, plant and equipment, intangible assets other than goodwill, investment property and other non-current assets. [Refer: Intangible assets other than goodwill; Investment property; Other non-current assets; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfPropertyPlantAndEquipmentIntangibleAssetsOtherThanGoodwillInvestmentPropertyAndOtherNoncurrentAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to settle borrowings, classified as financing activities. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_17_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RepaymentsOfBorrowingsClassifiedAsFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of joint ventures accounted for using the equity method. [Refer: Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801728240">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Corporate Information<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DescriptionOfCorporateInformationTextBlock', window );">Description of corporate information [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 14.2pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">CORPORATE INFORMATION</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(a)</div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">Description of business</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Ambev S.A. (referred to as the &#x201c;Company&#x201d; or &#x201c;Ambev&#x201d;), headquartered in S&atilde;o Paulo, Brazil, produces and sells beer, draft beer, soft drinks, other non-alcoholic beverages, malt and food in general, as well as the advertising of its and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> party products, the sale of promotional and advertising materials and the direct or indirect exploitation of bars, restaurants, snack bars and the like, among others.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company&#x2019;s shares and ADR&#x2019;s (American Depositary Receipts) are listed on the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">B3</div> S.A.- Brasil, Bolsa, Balc&atilde;o as <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&#x201c;ABEV3&#x201d;</div> and on the New York Stock Exchange (NYSE) as &#x201c;ABEV&#x201d;.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company&#x2019;s direct controlling shareholders are Interbrew International B.V. (&#x201c;IIBV&#x201d;), AmBrew S.A. (&#x201c;Ambrew&#x201d;), both subsidiaries of Anheuser-Busch InBev N.V. (&#x201c;AB InBev&#x201d;) and Funda&ccedil;&atilde;o Antonio e Helena Zerrenner Institui&ccedil;&atilde;o Nacional de Benefic&ecirc;ncia (&#x201c;Funda&ccedil;&atilde;o Zerrenner&#x201d;).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The financial statements were approved by the Board of Directors on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 27</div><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">st</div>, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(b)</div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">Major corporate events in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Renegotiation of shareholders agreement CND</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" font-size: 10pt; text-align: justify; margin: 0">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1st,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> Ambev informed its shareholders and the general market that the E. Le&oacute;n Jimenes, S.A. (&#x201c;ELJ&#x201d;), partner of Ambev in Tenedora CND, S.A. (&#x201c;Tenedora&#x201d;) &#x2013; a holding company headquartered in Dominican Republic, which holds almost all shares of Cervecer&iacute;a Nacional Dominicana, S.A &#x2013; will exercise partially, as provide for in shareholders&#x2019; agreement of Tenedora, ELJ put option of approximatelly <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30%</div> of capital stock by Tenedora. Due the partial put exercise option, the Company will pay to ELJ the amount of USD <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">926.5</div> million and will be the holder of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">85%</div> of Tenedora, and ELJ will remain with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15%</div> interest of CND. Considering the strategic importance of alliance with the ELJ, the Board of Directors of Ambev approved this date the change of the call option term from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2022.</div> The transaction was subject to certain conditions precedent that were executed on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 18, 2018, </div>as described in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">36</div> - <div style="display: inline; font-style: italic;">Subsequent events</div>.</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 172; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Adherence to the Special Tax Regularization Program</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"></div> <div style=" font-size: 10pt; text-align: justify; text-indent: 0in; margin: 0">During the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> the Company adhere a Special Program for Tax Regularization, fixed by Provisional Measure <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">783,</div> from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 31, 2017, </div>extended by the Provisional Measure <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">798</div> (&#x201c;PERT <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017&#x201d;</div>), undertaking to&nbsp;pay&nbsp;some tax assessments that were in dispute, including debts from its subsidiaries, for a total amount of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$3.5</div> billion, already considering discounts according to the program, having paid the amount&nbsp;of&nbsp;approximately&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$960</div> millions in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> and undertaking to&nbsp;pay&nbsp;the remaining value in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">145</div> monthly installments, with interest, starting in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January, 2018.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Perpetual licensing agreement with Quilmes</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 2017, </div>AB InBev and Quilmes, a subsidiary of Ambev, entered into an agreement whereby AB InBev will grant a perpetual license to Quilmes in Argentina for Budweiser and other North American brands upon the recovery of the distribution rights by AB InBev from CCU. The agreement also foresees the transfer of the brewery of Cerveceria Argentina Sociedad Anonima Isenbeck by AB InBev to Quilmes and the transfer of some Argentinean brands (Norte, Iguana and Baltica) and related business assets along with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US$50</div> millions by Quilmes to CCU. The closing of the transaction is subject to the approval of the Argentinean antitrust authority and others usual closing conditions. Such approval has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> been granted by the time of the publication of these&nbsp;financial statements.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: bold;">Exchange contracts for future financial flows - Equity Swap</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 21, 2017, </div>the Board of Directors approved new equity swap agreements without prejudice to the liquidation, within the regulatory term, of the agreements still in force as authorized at the meeting held on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 16, 2017. </div>These agreements authorized <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>result in an exposure of up to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44</div> million common shares (of which all or part <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be through ADR&#x2019;s), with a limit value of up to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$820</div> million and, together with the balance of the agreements executed in the context of the approval of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 16, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> yet settled.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16th,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> the Board of Directors of Ambev approved the execution, by and between the Company, or its subsidiaries, and financial institutions to be approved by the Board of Officers, of equity swaps, having as underlying asset the shares issued by the Company or American Depositary Receipts representing these shares (&#x201c;ADRs&#x201d;). The settlement of the equity swap will take place within a maximum period of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div> months from this date, and the agreements <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>result in an exposure of up to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">80</div> million common shares, with a limit value of up to R$ <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.3</div> billion.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"></div> <!-- Field: Page; Sequence: 173; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: bold;">Acquisition of the Cachoeiras de Macacu</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2016, </div>the Company acquired Cachoeira de Macacu Bebidas Ltda. from Brasil Kirin Ind&uacute;stria de Bebidas Ltda., a company that owns an operating industrial plant for the production and packaging of beer and non-alcohol&nbsp; beverages&nbsp; in the State of Rio de Janeiro for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$478.6</div> million.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Exchange of shareholdings</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May 12, 2016, </div>Ambev and its controlling shareholder, AB InBev, entered into an agreement for the exchange of shareholdings (&#x201c;Swap&#x201d;). The execution of the Swap was conditional on the implementation of the merger of the activities of AB InBev and SABMiller Plc (&#x201c;SABMiller&#x201d;), which occurred on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 10, 2016. </div>Subsequently, on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016, </div>after the implementation of certain preparatory corporate acts, the Swap was effected. Based on the agreement described above, Ambev transferred to AB InBev the equity interest in Keystone Global Corporation - KGC, which held shares in companies domiciled in Colombia, Peru and Ecuador. On the other hand, AB InBev transferred to Ambev its interest in Cerveceria Nacional S. de R.L., a subsidiary domiciled in Panama, which had previously been acquired as a <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> party.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The value attributed to the transaction is based on a fairness opinion prepared by a specialized company and duly approved by the Board of Directors of Ambev, with abstention from the vote of the directors appointed by AB InBev.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The result of the transaction above mentioned was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$1,236.8</div> million, of which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$1,240.0</div> million was recognized in the income statement on exceptional items.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Acquisition of Archibald Microbrasserie</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> April, 2016, </div>the Company, through its&nbsp;wholly-owned subsidiary Labatt Breweries, in Canada, acquired the company Archibald Microbrasserie, known for its local beers and seasonal specialties. Furthermore, in Brazil, acquired <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">66%</div> of the company Sucos do Bem, which has a range of juices, teas and cereal bars. The acquisition amount added was approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$155</div> million.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Acquisition of Mark Anthony Group Companies</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January, 2016, </div>the Ambev, through its&nbsp;wholly-owned subsidiaries, CRBS S.A. and Ambev Luxembourg, acquired companies to a range of primarily spirit-based beers and ciders from Mark Anthony Group, by <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$1.4</div> billion.</div> <!-- Field: Page; Sequence: 174; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Business Acquisitions and Creation of B.Blend</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> the Company, through its subsidiaries, effected&nbsp;the purchase of companies Wals (&#x201c;Tropical Juice&#x201d;), Colorado (&#x201c;Beertech Bebidas&#x201d;), Bogota Beer Company (&#x201c;BBC&#x201d;), Cervecer&iacute;a BBC SAS (&#x201c;Cerveceria BBC&#x201d;), Mill Street Brewery (&#x201c;Mill St. Brewery&#x201d;) and Banks Holdings Limited (&#x201c;BHL&#x201d;). Along with Whirpool has&nbsp;initiated&nbsp;the&nbsp;setting-up of the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> joint venture, named B. Blend, being&nbsp;the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> platform beverages in capsules all-in-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> of the world.</div></div><span></span>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801777520">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 2 - Statement of Compliance<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Summary of Significant Accounting Policies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 14.2pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.</div></div></td> <td><div style="display: inline; font-weight: bold;">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">There were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> significant changes in accounting policies and calculation methods used for the financial statements as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>in relation to those presented in the financial statements for the years ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(a)</div></td> <td><div style="display: inline; font-weight: bold;">Basis of preparation and measurement</div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; color: windowtext">The financial statements are presented in </div>million <div style="display: inline; color: windowtext">of Brazilian Real (&#x201c;R$&#x201d;), </div>unless otherwise indicated, rounded to the nearest million indicated<div style="display: inline; color: windowtext">. The measurement basis used in preparing the financial statements is historical cost, net realizable value, fair value or recoverable amount.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(b)</div></td> <td><div style="display: inline; font-weight: bold;">Recently issued IFRS</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The reporting standards below were published and are mandatory for future annual reporting periods. Although IFRSs anticipate early adoption, in Brazil, regulators have prevented this anticipation in order to preserve aspects of comparability. Accordingly, for the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>these standards were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> applied in the preparation of these financial statements:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <!-- Field: Page; Sequence: 175; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9</div> - Financial Instruments</div> (effective from annual periods beginning on or after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2018), </div>which will replace IAS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39,</div> introduces a logical approach for the classification of financial assets, which is driven by cash flow characteristics and the business model in which an asset is held; defines a new expected-loss impairment model that will require more effective recognition; and introduces a substantially-reformed model for hedge accounting, with enhanced disclosures about risk management activity. The new hedge accounting model represents a significant overhaul of the policies and aligns the accounting treatment with risk management activities. IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9</div> also removes the volatility in profit or loss that was caused by changes in the credit risk of liabilities elected to be measured at fair value. The company evaluated the possible impacts arising from the application of IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9</div> and does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> identify a significant impact on its financial position and/or its financial performance.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div> - Revenue from Contracts with Customers</div> (effective from annual periods beginning on or after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2018) </div>requires revenue recognition to depict the transfer of goods or services to customers in amounts that reflect the consideration (that is, payment) to which the Company expects to be entitled in exchange for those goods or services. The new standard will also result in more and enhanced disclosures about revenue, provide guidance for transactions that were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> previously addressed comprehensively (for example, service revenue and contract modifications) and improve guidance for multiple-element arrangements. In view of the Ambev&#x2019;s activities, the company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> identify that the application of IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div> will have a significant impact on its financial position and/or its financial performance.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16</div> &#x2013; Leases</div> (effective from annual periods beginning on or after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2019) </div>replaces the existing lease accounting requirements and represents a significant change in the accounting and reporting of leases that were previously classified as operating leases, with more assets and liabilities to be reported on the balance sheet and a different recognition of lease costs.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The company is in process of assessing the full impact of IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16</div> and expects changes in the presentation of operating leases in the balance sheet.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Other Standards, Interpretations and Amendments to Standards </div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The other amendments to standards effective for annual periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2017, </div>have <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> been listed above because of either their non-applicability to or their immateriality to Ambev&#x2019;s consolidated financial statements.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(c)</div></td> <td><div style="display: inline; font-weight: bold;">Consolidated financial statements</div></td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The financial statements of subsidiaries, joint arrangements and associates used in its consolidated financial statements are prepared for the same reporting period as Ambev, using consistent accounting policies.</div> <!-- Field: Page; Sequence: 176; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">All intercompany transactions, balances and unrealized gains or losses on transactions between group companies have been eliminated.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Subsidiaries</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company controls an entity when it is exposed to or has rights to variable returns due to its involvement with the organization and is able to affect those returns through its power over the entity. In assessing control, potential voting rights are taken into account. Control is presumed to exist where the Company owns, directly or indirectly, more than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> half of the voting rights (which does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> always equate to economic ownership), unless it can be demonstrated that such ownership does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> constitute control.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Subsidiaries are consolidated as from the date in which control is obtained to the Company, except when the predecessor basis of accounting is applied for common control transfers. Consolidation is discontinued as from the date control ceases.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Ambev uses the purchase method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interest issued by Ambev. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration agreement, when applicable. Costs related to the acquisition are recognized in income, as incurred. Assets, liabilities and contingent liabilities acquired/assumed in a business combination are recognized initially at their fair values at the acquisition date. Ambev recognizes the non-controlling interest in the acquiree, either at fair value or at the non-controlling interest&#x2019;s proportionate share of the net assets acquired. The measurement of non-controlling interest to be recognized is determined for each acquisition.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The excess: (i) of the consideration paid; (ii) of the amount of any non-controlling interests in the acquiree (when applicable); and (iii) of the fair value, at acquisition date, of any previous equity interest in the acquiree, over the fair value of the net identifiable assets acquired, at the date of acquisition, is recorded as goodwill. When the consideration transferred is less than the fair value of net assets acquired, the difference is recognized directly in income.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">All intercompany transactions, balances and unrealized gains and losses on transactions between group companies have been eliminated. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> evidence of impairment.</div> <!-- Field: Page; Sequence: 177; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Joint arrangements</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Joint arrangements are all entities over which the Company shares control with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> or more parties. Joint arrangements are classified as either joint operations or joint ventures depending on the contractual rights and obligations of each investor.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Business combination between entities under common control</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">Business combinations between entities under common control have <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> been addressed by IFRS&#x2019;s. The IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> is the pronouncement that shall be applied to business combinations, however it explicitly excludes business combinations between entities under common control from its scope.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">Therefore, in accordance with IAS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,</div> Management has adopted an accounting practice which is consistent with United States Generally Accepted Accounting Principles (USGAAP) and United Kingdom Generally Accepted Accounting Principles (UKGAAP), the predecessor basis of accounting to record the carrying amount of the asset received, as recorded by the parent company.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Under the predecessor basis of accounting, when accounting for a transfer of assets or a swap of shares between entities under common control, the entity that receives the net assets or the equity interests (the acquirer) shall initially record the assets and liabilities transferred at their parent book value at the transfer date. If the book value of assets and liabilities transferred by the parent are different from the historical cost registered by the controlling entity of the entities under common control (the ultimate parent), the financial statements of the acquirer shall reflect the assets and liabilities transferred at the same cost of the ultimate parent.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Regarding transactions between entities under common control that involve the disposal or transfer of assets from the subsidiary to its parent company, i.e. - above the level of our consolidated financial statement &#x2013;, the Company assess the existence of (i) conflict of interests and (ii) economic substance and purpose. Having fulfilled these assumptions, the Company adopted as a policy the concepts of IAS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16</div> in order to provide adequate visibility and fair impact on the amount of the distributable results to our shareholders, specially the non-controlling interests. This policy also includes assets acquired through the swap of non-cash assets, or swap with a combination of cash and non-cash assets. The assets subject to the swap <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be of equal or different nature. The cost of such asset is measured at fair value, unless (i) the swap transaction is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> commercial in nature, or (ii) the fair value of the asset received (and the asset assigned) cannot be reliably measured. The acquired asset is measured through this way even if the assignor entity cannot immediately exclude the asset from its books. If the acquired asset is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> measurable at fair value, its cost is determined by the book value of the assigned asset.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <!-- Field: Page; Sequence: 178; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Whenever there is a distribution of assets that is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> recorded as cash, the asset, before its distribution, is registered at fair value in the income account. This procedure is applicable to the distributions in which the assets are equal in nature and therefore treated equitably. However, similarly to IFRIC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,</div> in the absence of a specific accounting practice for transactions under common control, we apply this procedure in our accounting practice. Also, we apply the same procedure to sales (products, supplies, etc.) we perform to our controlling entity, where the positive result of the sale is recognized in the income account.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(d)</div></td> <td><div style="display: inline; font-weight: bold;">Foreign currency translation</div></td> </tr>  </table> <div style=" margin: 0pt 46.75pt 0pt 76.55pt; font-size: 10pt; text-align: justify; text-indent: -76.55pt">&nbsp;</div> <div style=" margin: 0pt 46.75pt 0pt 76.55pt; font-size: 10pt; text-align: justify; text-indent: -76.55pt"><div style="display: inline; font-weight: bold;">Functional and presentation currency</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The items included in the financial statements of each subsidiary of the Company are measured using the currency of the primary economic environment in which the entity operates (&#x201c;functional currency&#x201d;).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The functional and presentation currency of the Company financial statements is the Brazilian Real.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Transactions and balances</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Foreign currency transactions are accounted for at exchange rates prevailing at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the balance sheet date rate. Non-monetary assets and liabilities denominated in foreign currencies are translated at the foreign exchange rate prevailing at the date of the transaction. Non-monetary assets and liabilities denominated in foreign currencies that are stated at fair value are translated at exchange rates ruling at the dates the fair value was determined. Gains and losses arising from the settlement of transactions in foreign currencies and resulting from the conversion of assets and liabilities denominated in foreign currencies are recognized in the income statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The foreign exchange gains and losses related to loans and cash and cash equivalents are presented in the income statement as finance cost or finance income.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Conversion of the financial statements of subsidiaries located abroad</div></div> <!-- Field: Page; Sequence: 179; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Assets and liabilities of subsidiaries located abroad are translated at foreign exchange rates prevailing at the balance sheet date, while amounts from income statement and cash flows are translated at average exchange rates for the year and the changes in equity are translated at historical exchange rates of each transaction. The translation adjustments arising from the difference between the average exchange rates and the historical rates are recorded directly in Carrying value adjustments.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On consolidation, exchange differences arising from translation of equity in foreign operations and borrowings and other currency instruments designated as net investment hedges are recognized in Carrying value adjustments, an equity reserve, and included in Other comprehensive income.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Net investment in a foreign operation</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">An entity <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>have a monetary item that is receivable from or payable to a foreign operation which settlement is neither planned nor likely to occur in the foreseeable future and do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> include trade receivables or trade payables. Exchange differences arising shall be recognized initially in other comprehensive income and reclassified from equity to profit or loss on disposal of the net investment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Exchange rates</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The most significant exchange rates used in the preparation of the Company&#x2019;s financial statements are as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Closing rate</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Average rate</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Currency</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Name</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Country</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; font-size: 10pt">CAD</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Canadian Dollars</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Canada and Cuba</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.6380</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.4214</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.8124</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.4567</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.6348</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.5661</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">DOP</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dominican Pesos</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dominican republic</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0685</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0700</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0860</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0674</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0755</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0725</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Ecuador <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div>, Panam&aacute; and Cuba<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(ii)</div></div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.3080</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2591</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.9048</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2017</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.4749</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2596</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">GTQ</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Quetzal</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Guatemala</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4500</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4343</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.5129</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4344</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4570</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4265</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">PEN</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Novo Sol</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Peru <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.9720</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1440</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0269</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0396</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">ARS</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Argentinean Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Argentina</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1762</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.2056</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3003</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1931</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.2354</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3581</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">BOB</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Bolivian Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Bolivia</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4753</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4683</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.5610</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4600</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4993</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4683</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">PYG</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Guarani</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Paraguai</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0006</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0006</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0007</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0006</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0006</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0006</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">UYU</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Uruguayan Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Uruguay</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1151</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1114</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1304</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1116</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1166</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1197</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">CLP</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Chilean Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Chile</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0054</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0049</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0055</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0049</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0051</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0050</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">COP</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Peso colombiano</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Col&ocirc;mbia <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0011</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0012</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0011</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0012</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">BBD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Barbadian Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Barbados</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6307</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6075</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.5783</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.7139</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">(i) Until <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016, </div>due to exchange of shareholdings<div style="display: inline; font-weight: bold;">, </div>according the Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> - <div style="display: inline; font-style: italic;">Corporate information</div>.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(ii) The functional currency of Cuba, the Cuban convertible peso (&#x201c;CUC&#x201d;), has a fixed parity with the dollar (&#x201c;USD&#x201d;) at balance sheet date.</div> <!-- Field: Page; Sequence: 180; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(e)</div></td> <td><div style="display: inline; font-weight: bold;">Segment reporting</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Reportable segments are identified based on internal reports regularly reviewed by the chief operating decision maker of the Company for purposes of evaluating the performance of each segment and allocating resources to those segments. Accordingly, segment information is presented on geographical areas, since the risks and rates of return are affected predominantly by the fact that the Company operates in different regions. The Company&#x2019;s management structure and the information reported to the chief decision are structured the same way.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The performance information by business units (Beer and Soft drink (&#x201c;CSD&#x201d;) and Non-alcoholic and non-carbonated (&#x201c;NANC&#x201d;)), is also used by the decision maker for the Company and is presented as additional information, even though it does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> qualify as a reportable segment. Internally, the Company&#x2019;s management uses performance indicators, such as earnings of consolidated operation before interest and taxes (EBIT) and normalized earnings of consolidated operation before interest, taxes, depreciation and amortization (normalized EBITDA) as measures of segment performance to make decisions about resource allocation and performance analysis of consolidated operation. These indicators are reconciled to the profit of the segment in the tables on Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div> <div style="display: inline; font-style: italic;">&#x2013; Segment reporting</div>.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company operates its business through <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> zones identified as reportable segments:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&#x25aa; Latin America North, which includes our operations (a) in Brazil and Luxembourg, where we operate <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> business sub units: (i) beer and (ii) CSD and NANC; and (b) in Central America Operations (&#x201c;CAC&#x201d;), which includes our operations in the Dominican Republic (which also serves the islands of the Caribbean: Saint Vincent, Dominica, Antigua and Barbados), Guatemala (which also serves El Salvador and Nicaragua), Cuba and Panama;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&#x25aa; Latin America South, which includes our operations in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&#x25aa; Canada, represented by Labatt&#x2019;s operations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(f)</div></td> <td><div style="display: inline; font-weight: bold;">Revenue recognition</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company recognizes revenue when the amount of revenue can be measured reliably and it is probable that economic benefits associated with the transaction will flow to the Company.</div> <!-- Field: Page; Sequence: 181; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Revenue comprises the fair value of the amount received or receivable upon selling products or rendering services in the ordinary course of business. Revenue is presented net of taxes, returns, rebates and discounts, as well as net of elimination of sales between group companies.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Goods sold</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In relation to the sale of goods, revenue is recognized when the significant risks and rewards of ownership have been transferred to the buyer, and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> significant uncertainties remain regarding recovery of the consideration due, the costs associated with the possible return of the products, and when there is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> continuing management involvement with the goods. Revenue from the sale of goods is measured at the fair value of the consideration (price) received or receivable, net of returns, commercial deductions and discounts.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As part of its commercial policy, the Company provides unconditional discounts to its customers, which are recorded as s deductions at the time of sales.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Finance income</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Finance income consists of interest received or receivable on funds invested, foreign exchange gains, gains on currency hedging instruments offsetting currency losses, gains on hedging instruments that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> part of a hedge accounting relationship, gains on financial assets classified as held for trading, as well as any gains from hedge ineffectiveness.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Interest income is recognized on an accrual basis unless collectability is in doubt.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(g)</div></td> <td><div style="display: inline; font-weight: bold;">Expenses</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Royalty expenses</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Royalties are classified as cost of goods sold.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Finance costs</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Finance costs comprise interest payable on borrowings, calculated using the effective interest rate method, foreign exchange losses, losses on currency hedging instruments offsetting currency gains, results on interest rate hedging instruments, losses on hedging instruments that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> part of a hedge accounting relationship, losses on financial assets classified as held for trading, impairment losses on financial assets classified as available for sale, as well as any losses from hedge ineffectiveness.</div> <!-- Field: Page; Sequence: 182; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">All interest costs incurred in connection with borrowings or financial transactions are expensed as incurred as part of finance costs, except when capitalized. Any difference between the initial amount and the maturity amount of interest bearing loans and borrowings, such as transaction costs and fair value adjustments, are recognized in the income statement over the expected life of the instrument on an effective interest rate method. The interest expense component of finance lease payments is also recognized in the income statement using the effective interest rate method.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(h)</div></td> <td><div style="display: inline; font-weight: bold;">Exceptional items</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Exceptional items are those that in Management&#x2019;s judgment need to be disclosed separately by virtue of their size or incidence. In determining whether an event or transaction is special, Management considers quantitative as well as qualitative factors such as the frequency or predictability of occurrence, and the potential of impact on the variation of profit or loss. These items are disclosed in the income statement or separately disclosed in the notes to the financial statements. Transactions that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>give rise to exceptional items are principally restructuring activities, acquisition of subsidiaries, impairment losses, and gains or losses on disposal of assets and investments.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(i)</div></td> <td><div style="display: inline; font-weight: bold;">Income tax and social contribution</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Income tax and social contribution for the year comprises current tax and deferred tax. Income tax and social contribution are recognized in the income statement, unless they relate to items recognized directly in comprehensive income or other equity accounts. In these cases the tax effect is also recognized directly in comprehensive income or equity account (except interest on shareholder&#x2019;s equity. See Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> (p)).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The current tax expense is the expectation of payment on the taxable income for the year, using tax rates enacted, or substantially enacted, at the balance sheet date, and any adjustment to tax payable in respect of previous years.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The deferred taxes are recognized using the balance sheet liability approach. This means that a deferred tax liability or asset is recognized for all taxable and tax deductible temporary differences between the tax and accounting basis of assets and liabilities. Under this method, a provision for deferred taxes is also calculated on the differences between the fair value of assets and liabilities acquired in a business combination and their tax basis. IAS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> prescribes that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> deferred tax liability on goodwill recognition, and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> deferred tax asset/liability is recorded: (i) at the initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss; and (ii) on differences related to investments in subsidiaries to the extent that they are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> reversed in the foreseeable future. The amount of deferred tax provided is based on the expectation of the realization or settlement of the temporary difference, using currently or substantially enacted tax rates.</div> <!-- Field: Page; Sequence: 183; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The deferred tax asset is recognized only to the extent that it is likely that future taxable profits will be available. The deferred income tax asset is reduced to the extent that it is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> longer probable that the future taxable benefit will occur.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(j)</div></td> <td><div style="display: inline; font-weight: bold;">Property, plant and equipment</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Property, plant and equipment are measured at cost less accumulated depreciation and impairment losses. The cost includes the purchase price, borrowing cost incurred during the construction period and any other costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management (e.g. nonrefundable tax, transport and the costs of dismantling and removal and site restoration, if applicable). The cost of a self-constructed asset is determined using the same principles as for an acquired asset. The depreciation methods, residual value, as well as the useful lives are reassessed and adjusted if appropriate, annually.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets are capitalized as part of the cost of such assets.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Land is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> depreciated since it is deemed to have an indefinite life.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Property, plant and equipment, and depreciation include the effects of the predecessor basis of accounting, according the Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> - <div style="display: inline; font-style: italic;">Corporate information</div>.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Subsequent expenditures</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company recognizes in the carrying amount of an item of property, plant and equipment the cost of replacing a component of such an item if it is probable that the future economic benefits embodied with the item will flow to the Company and the cost of the item can be measured reliably. All other costs are expensed as incurred.</div> <!-- Field: Page; Sequence: 184; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Depreciation</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The depreciable amount is the cost of an asset less its residual value. Residual values, if <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> insignificant, are reassessed annually. Depreciation is calculated from the date the asset is available for use, using the straight-line method over the estimated useful lives of the assets.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The estimated useful lives of major property, plant and equipment classes as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">Buildings (years)</td> <td style="width: 5%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 20%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">25</div></div></td> <td style="width: 5%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Plant and equipment (years)</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">15</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Fixtures (years)</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">10</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Fittings (years)</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">10</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">External use assets (years)</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> - </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The assets residual values and useful lives are reviewed at least annually. Management uses judgment to assess and ascertain the useful lives of these assets.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Gains and losses on sale</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Gains and losses on sales are determined by comparing the results with the carrying amount and are recognized in Other operating income/(expenses) in the income statement.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(k)</div></td> <td><div style="display: inline; font-weight: bold;">Goodwill</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Goodwill arises on the acquisition of subsidiaries, associates and joint arrangements.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Goodwill is determined as the excess (i) of the consideration paid; (ii) of the amount of any non-controlling interests in the acquiree (when applicable); and (iii) of the fair value, at acquisition date, of any previous equity interest in the acquiree, over the fair value of the net identifiable assets acquired at the date of acquisition. All business combinations are accounted for by applying the purchase method.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In conformity with IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> <div style="display: inline; font-style: italic;">Business Combinations</div>, goodwill is carried at cost and is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> amortized, but tested for impairment at least annually, or whenever there are indications that the cash generating unit to which the goodwill has been allocated <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be impaired. Impairment losses recognized on goodwill are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> reversed. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.</div> <!-- Field: Page; Sequence: 185; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Goodwill is expressed in the functional currency of the subsidiary or joint operation to which it relates and translated to <div style="display: inline; font-style: italic;">Reais</div> using the year-end exchange rate.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Regarding associates and joint ventures, goodwill is included in the carrying amount of the investment in the associate/joint ventures.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">If the Company&#x2019;s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognized exceeds the cost of the business combination such excess is recognized immediately in the income statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Expenditure on internally generated goodwill is expensed as incurred.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Goodwill includes the effects of the predecessor basis of accounting (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> (c)).</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(l)</div></td> <td><div style="display: inline; font-weight: bold;">Intangible assets</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Brands</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When part of the consideration paid in a business combination is related to brands, these are recognized in a specific Intangible Assets account and measured at fair value at the acquisition date. Subsequently, the value of brands can be reduced in case of impairment losses. Internally generated expenditures for developing a brand are recognized as expenses.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Software</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Purchased software is measured at cost less accumulated amortization.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Amortization related to software is included in cost of sales, distribution and sales expenses, marketing expenses or administrative expenses based on the activity the software supports.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Other intangible assets</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Other intangible assets, acquired by the Company, are stated at acquisition cost less accumulated amortization and impairment losses.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Other intangible assets also include multi-year sponsorship rights acquired by the Company. These are initially recognized at the present value of the future payments and subsequently measured at cost less accumulated amortization and impairment losses.</div> <!-- Field: Page; Sequence: 186; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Amortization</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Intangible assets with definite useful lives are amortized based on the straight-line method over their estimated useful lives. Licenses, supply and distribution rights are amortized over the period in which the rights exist. Brands are considered to have an indefinite life and, therefore, are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> amortized. Software and capitalized development cost related to technology are amortized over <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div> years.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Items that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> amortized are tested for impairment on an annual basis.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(m)</div></td> <td><div style="display: inline; font-weight: bold;">Inventories</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Inventories are initially recorded at the acquisition cost and subsequent valued at the lower of cost and net realizable value. Cost includes expenditure incurred in acquiring the inventories and bringing them to their existing location and condition. The weighted average method is used in determining the cost of inventories.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The cost of finished products and work in progress comprises raw materials, other production materials, direct labor, other direct costs, gains and losses with derivative financial instruments, and an allocation of fixed and variable overhead based on normal operating capacity. Net realizable value is the estimated selling price in the ordinary course of business, less the cost for bringing inventories to sales conditions and selling costs.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Inventories have their amount reduced on a case-by-case basis if the anticipated net realizable value declines below its carrying amount. The calculation of the net realizable value takes into consideration specific characteristics of each inventory category, such as expiration date, remaining shelf life, slow-moving indicators, amongst others.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(n)</div></td> <td><div style="display: inline; font-weight: bold;">Trade receivables</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Accounts receivable are initially recognized at fair value and subsequently at amortized cost, less provision for losses on doubtful accounts. An allowance for impairment of trade receivables is established when there is objective evidence that the Company will <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be able to collect all amounts due according to the original terms of the receivables. An allowance for impairment loss is recorded for an amount considered sufficient by management to cover probable losses upon the realization of receivables. The amount of the allowance is the difference between the asset&#x2019;s carrying amount and the present value of the estimated future cash flows. The allowance for impairment loss is recognized in the income statement, as are subsequent recoveries of previous impairments. Historically, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> significant losses in trade receivables have been experienced.</div> <!-- Field: Page; Sequence: 187; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(o)</div></td> <td><div style="display: inline; font-weight: bold;">Cash and cash equivalents</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Cash and cash equivalents include all cash balances, bank deposits, and short-term highly liquid investments with original maturities of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months or less with insignificant risks of changes in value, <div style="display: inline; font-weight: normal">and </div>readily convertible into cash. They are stated at face value, which approximates their fair value.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For the purpose of the cash flow statement, cash and cash equivalents are presented net of bank overdrafts, when applicable.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(p)</div></td> <td><div style="display: inline; font-weight: bold;">Equity</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Issued capital</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company's issued capital consists only of common shares.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Repurchase of shares</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When the Company buys back its own shares, the amount paid, including any additional costs directly attributable is recognized as a deduction from equity attributable to shareholders, in &#x201c;Treasury shares&#x201d; line item.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Share issuance costs</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Incremental costs directly attributable to the issuance of new shares or options are presented in equity as a deduction, net of tax, from the proceeds.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Dividends and Interest on shareholder&#x2019;s equity</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Dividends and interest on shareholder&#x2019;s equity are recognized in the liability on the date that are approved on Board of Directors Meeting, except the minimum statutory dividends provided by the Company&#x2019;s bylaws, that are recognized as a liability when applicable, at the end of each fiscal year.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The expense of interest attributable to capital to shareholders is recognized in income for calculation of Brazilian income and social contribution tax and after are reclassified from shareholders' equity for presentation purposes in financial statements.</div> <!-- Field: Page; Sequence: 188; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(q)</div></td> <td><div style="display: inline; font-weight: bold;">Interest-bearing loans and borrowings </div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Interest-bearing loans and borrowings are recognized initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing loans and borrowings are stated at amortized cost with any difference between the initial and maturity amount being recognized in the income statement over the expected life of the instrument on an effective interest rate basis. The Company has interest-bearing loans and borrowings covered by a hedge structure (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22</div> &#x2013; <div style="display: inline; font-style: italic;">Interest-bearing loans and borrowings</div>).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Borrowing costs directly related to the acquisition, construction or production of a qualifying asset, that requires a substantial period of time to get ready for its intended use or sale, are capitalized as part of the cost of that asset when it is probable that future economic benefits associated with the item will flow to the Company and costs can be measured reliably. The other borrowing costs are recognized as finance costs in the period in which they are incurred.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(r)</div></td> <td><div style="display: inline; font-weight: bold;">Employee benefits</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Post-employment benefits</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Post-employment benefits include pensions managed in Brazil by Instituto Ambev de Previd&ecirc;ncia Privada &#x2013; IAPP, post-employment dental benefits and post-employment medical benefits managed by Funda&ccedil;&atilde;o Zerrenner. Usually, pension plans are funded by payments made by both the Company and its employees, taking into account the recommendations of independent actuaries. Post-employment dental benefits and post-employment medical benefits are maintained by the return on Funda&ccedil;&atilde;o Zerrenner&#x2019;s plan assets. If necessary, the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>contribute some of its profit to the Funda&ccedil;&atilde;o Zerrenner.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company manages defined benefit and defined contribution plans for employees of its companies located in Brazil and in its subsidiaries located in Dominican Republic, Panama, Uruguai, Bolivia and Canada.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company maintains funded and unfunded plans.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">r.1</div>) Defined contribution plans</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">A defined contribution plan is a pension plan under which the Company pays fixed contributions into a fund. The Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> legal or constructive obligations to pay further contributions if the fund does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> hold sufficient assets to pay all employees for the benefits relating to employee service in the current and prior periods.</div> <!-- Field: Page; Sequence: 189; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The contributions of these plans are recognized as expense in the period they are incurred.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">r.2</div>) Defined benefit plans</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> or more factors such as age, years of service and compensation.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For defined benefit plans, expenses are assessed separately for each plan using the projected credit unit method. The projected credit unit method takes into account each period of service as giving rise to an additional unit of benefit to measure each unit separately. Under this method, the cost of providing pensions is charged to the income statement during the period of service of the employee. The amounts charged to the income statement consist of current service cost, interest cost, past service costs and the effect of any settlements and curtailments. The obligations of the plan recognized in the balance sheet are measured at the present value of the estimated future cash outflows using a discount rate equivalent to the government&acute;s bond rates with maturity terms similar to those of the obligation and the fair value of the plan assets.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Past service costs result from the introduction of a new plan or changes to an existing plan. They are recognized immediately in the income statement, at the earlier of when: (i) the settlements / curtailments occurs, or (ii) the Company recognizes related restructuring or termination costs, unless those changes are conditioned to the employee&#x2019;s continued employment, for a specific period of time (the period in which the right is acquired). In such case, the past services costs are amortized using the straight-line method during the period in which the right was acquired.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Actuarial gains and losses consist of the effects of differences between the previous actuarial assumptions and what has actually occurred, and the effects of changes in actuarial assumptions. Actuarial gains and losses are fully recognized in Carrying value adjustments.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Re-measurements, comprising of actuarial gains and losses, the effect of the asset ceiling and the return on plan assets, both excluding net interest, are recognized in full in the period in which they occur in the statement of comprehensive income. Re-measurements are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> reclassified to profit or loss in subsequent periods.</div> <!-- Field: Page; Sequence: 190; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When the amount of the defined benefit obligation is negative (an asset), the Company recognizes those assets (prepaid expenses), to the extent of the value of the economic benefit available to the Company either from refunds or reductions in future contributions.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Other post-employment obligations</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company and its subsidiaries provide post-employment medical benefits, reimbursement of medication expenses and other benefits to certain retirees through Funda&ccedil;&atilde;o Zerrenner. These benefits are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> granted to new retirees. The expected costs of these benefits are recognized over the period of employment, using an accounting methodology similar to that for defined benefit plans, including actuarial gains and losses.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Termination benefits</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Termination benefits are recognized as an expense at the earlier of: (i) when the Company is demonstrably committed, without realistic possibility of withdrawal, to a formal detailed plan to terminate employment before the normal retirement date, and (ii) when the Company recognizes costs for a restructuring.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Bonuses</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Bonuses granted to employees and managers are based on pre-defined company and individual target achievement. The estimated amount of the bonus is recognized as an expense in the period the bonus is earned.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(s)</div></td> <td><div style="display: inline; font-weight: bold;">Share-based payments</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Different share and share option programs allow management and other members appointed by the Board of Directors to acquire shares of the Company. The fair value of the share options is estimated at grant date, using an option pricing model that is most appropriate for the respective option. Based on the expected number of options that will be exercised, the fair value of the options granted is recognized as an expense over the vesting period with a credit to equity. When the options are exercised, equity is increased by the amount of the proceeds received.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(t)</div></td> <td><div style="display: inline; font-weight: bold;">Trade payables</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Trade payables are recognized initially at fair value and subsequently at amortized cost using the effective interest method.</div> <!-- Field: Page; Sequence: 191; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(u)</div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">Provisions</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Provisions are recognized when: (i) the Company has a present obligation (legal or constructive) as a result of past events; (ii) it is likely that a future disbursement will be required to settle the current obligation; and (iii) a reliable estimate of the amount of the obligation can be made.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Provisions, except for the mentioned on item disputes and litigation, are determined discounting the expected future cash flows, to a pre-tax rate, that reflects the current market assessments of the time value of money and, where appropriate, the risks specific to the liability. The increase accruals are recognized as finance expense.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Restructuring</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">A provision for restructuring is recognized when the Company has approved a detailed restructuring plan, and the restructuring has either commenced or has been announced. Costs relating to the ongoing and future activities of the Company are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> provided for, but recognized when expenses are incurred.. The provision includes the benefit commitments in connection with early retirement and redundancy schemes.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Disputes and Litigations</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">A provision for disputes and litigation is recognized when it is more likely than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> that the Company will be required to make future payments as a result of past events. Such items <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>include but are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> limited to, several claims, suits and actions filed by or against the Company relating to antitrusts laws, violations of distribution and license agreements, environmental matters, employment-related disputes, claims from tax authorities, and other litigation matters..</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(v)</div></td> <td><div style="display: inline; font-weight: bold;">Financial assets and liabilities</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Classification</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company classifies its financial assets and liabilities in the following categories: (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>) at fair value through profit or loss, (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>) loans and receivables, (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>) held to maturity and (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div>) available for sale. The classification depends on the purpose for which the financial instruments were acquired. Management determines the classification of its financial assets at initial recognition.</div> <!-- Field: Page; Sequence: 192; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>) Financial assets and liabilities at fair value through profit or loss</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Financial assets and liabilities at fair value through profit or loss are financial instruments held for trading. A financial asset is classified in this category if acquired principally for the purpose of being sold in the short term. Derivatives are also categorized as held for trading unless they are designated as hedges.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In general, financial instruments of this category are classified as short-term investments securities, on current assets. Investments with maturities beyond <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be classified as short-term based on Management's intent and ability to withdraw them within less than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year, as well as, considering their highly liquid nature and the fact that they represent cash available to fund current operations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>) Loans and receivables</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Loans and receivables are non-derivative financial assets with fixed or determinable payments that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> quoted in an active market. They are included in current assets, except for maturities greater than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> months after the end of the reporting period (these are classified as non-current assets).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>) Investments held to maturity</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Investments held to maturity are financial assets acquired with the intention and financial ability to hold them in the portfolio until maturity.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div>) Available-for-sale financial assets</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Available-for-sale financial assets are non-derivative financial assets <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> classified in any other category. Available-for-sale financial assets are classified as non-current assets, unless Management intends to dispose of the investment within <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> months of the end of the reporting period.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Investments in debt and equity securities are classified in this category. Equity instruments are undertakings in which the Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have significant influence or control.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Recognition and measurement</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Purchases and sales of financial assets and liabilities are recognized on the trade date - the date on which the Company undertakes to buy or sell the asset.</div> <!-- Field: Page; Sequence: 193; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Financial assets and liabilities are realized when the rights to receive cash flows from investments have expired or have been transferred, in this case, when the Company has transferred substantially all risks and benefits of ownership.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>) Financial assets and liabilities at fair value through profit or loss</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Financial assets and liabilities at fair value through profit and loss are initially recognized at fair value and transaction costs are charged to the income statement. Subsequently, they are carried at fair value. Gains or losses arising from changes in the fair value of financial instruments at fair value through profit or loss are presented in the income statement in the period in which they arise.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>) Loans and receivables</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Loans and receivables are carried at amortized cost using the effective interest rate.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>) Investments held to maturity</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Investments held to maturity are initially recognized at fair value plus any directly attributable transaction costs. After initial recognition, investments held to maturity are measured at amortized cost using the effective interest method, reduced by any on loss impairment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div>) Available-for-sale financial assets</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Available-for-sale financial assets are initially measured at fair value. Interest and inflation monetary adjustments are recognized in income. Subsequently, available-for-sale financial assets are measured at fair value, with changes in fair value recognized in other comprehensive income, and interests (measured using the effective interest rate method), recognized in income statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When available-for-sale financial assets are settled or become impaired, the accumulated fair value adjustments recognized in other comprehensive income are included in the income statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The fair values of investments with public quotations are based on current bid prices. If the market for a financial asset (and for unlisted securities on the stock exchange) is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> active, the Company establishes fair value by using valuation techniques. These techniques include the use of recent transactions with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> parties, reference to other instruments that are substantially similar, analysis of discounted cash flows and option pricing models making maximum use of information from the market and with the least possible information generated by the Company's management.</div> <!-- Field: Page; Sequence: 194; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Impairment of financial assets</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Management assesses at the end of each reporting period whether there is objective evidence that a financial asset or group of financial assets is impaired. If any such indication exists, the asset&#x2019;s recoverable amount is estimated. A financial asset or a group of financial assets is impaired and an impairment loss is recorded only if there is objective evidence of impairment as a result of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> or more events that occurred after the initial recognition of the asset (&#x201c;loss event&#x201d;) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Offsetting of financial instruments</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt">Financial assets and liabilities are offset and the net amount presented in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(w)</div></td> <td><div style="display: inline; font-weight: bold;">Impairment of non-financial assets</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The carrying amounts of non-financial assets, such as property, plant and equipment, goodwill and intangible assets are reviewed, at least, at each reporting date to determine whether there is any indication of impairment. If any such indication exists, the asset&#x2019;s recoverable amount is estimated.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Goodwill, intangible assets that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> yet available for use and intangibles with an indefinite useful life are tested for impairment at least annually at the business unit level (which is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> level below the reportable segment) or whenever there is any indication of impairment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">An impairment loss is recognized whenever the carrying amount of an asset or the related cash-generating unit exceeds its recoverable amount. Impairment losses are recognized in the income statement. Intangible assets with an indefinite useful life are tested on a fair value approach applying multiples that reflect current market transactions to indicators that drive the profitability of the asset or the royalty stream that could be obtained from licensing the intangible asset to another party in an arm&#x2019;s length transaction.</div> <!-- Field: Page; Sequence: 195; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The recoverable amount of other assets is determined as the higher of their fair value less costs to sell and value in use. For an asset that does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> generate largely independent cash inflows, the recoverable amount is determined for the cash-generating unit to which the asset belongs. The recoverable amount of the cash-generating units to which the goodwill and the intangible assets with indefinite useful life belong is based on a discounted free cash flow approach, using a discount rate that reflects current valuation models of the time value of money and the risks specific to the asset. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded subsidiaries or other available fair value indicators.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate before taxes that reflects current market assessments of the time value of money and the risks specific to the asset.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Non-financial assets, except by goodwill are reviewed for possible reversal of the impairment at the reporting date. Impairment losses are reversed only to the extent that the asset&#x2019;s carrying amount does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> exceed the carrying amount that would have been determined, net of depreciation or amortization, if <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> impairment loss had been recognized.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">x</div>)</div></td> <td><div style="display: inline; font-weight: bold;">Derivative financial instruments</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company uses derivative financial instruments in order to mitigate against risks related to foreign currency, interest rates and commodity prices. Derivative financial instruments that, although contracted for hedging purposes, do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> meet all hedge accounting criteria are recognized at fair value in the income statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Derivative financial instruments are recognized initially at fair value. Fair value is the amount an asset could be realized and a liability settled, between knowledgeable parties, in an arm&#x2019;s length transaction. The fair value of derivative financial instruments <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be obtained from quoted market prices or from pricing models that take into account current market rates, and also credit risk quality of the counterpart.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Subsequent to initial recognition, derivative financial instruments are re-measured to their fair value at the balance sheet date. Changes in fair value of derivative financial instruments are recognized in the income statement, except when they are designated as hedge instruments, when any effective portion of gain or loss is recognized directly in other comprehensive income.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Cash flow, net investment or fair value hedge accounting is applied to all hedges that qualify for hedge accounting under IAS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39,</div> including the required hedge documentation and hedge effectiveness tests.</div> <!-- Field: Page; Sequence: 196; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Cash flow hedge accounting</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When a derivative financial instrument hedges the variability in cash flows of a recognized asset or liability, the foreign currency risk and the fluctuation of commodity prices associated with a highly probable forecasted transaction, the effective portion of any resulting gain or loss on the derivative financial instrument is recognized directly in other comprehensive income (cash flow hedging reserve). The ineffective portion of any resulting gain or loss is recognized in the income statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When a hedging instrument or hedge relationship is terminated but the hedged transaction is still expected to occur, the cumulative gain or loss (at that point) remains in other comprehensive income and is reclassified in accordance with the above policy when the hedged transaction occurs. If the hedged transaction is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> longer probable, the cumulative gain or loss recognized in other comprehensive income is recycled into the income statement immediately.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Fair value hedge accounting</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When a derivative financial instrument hedges the variability in fair value of a recognized asset or liability or a firm commitment, any resulting gain or loss on the hedging instrument is recognized in the income statement. The hedged item is also stated at fair value in respect of the risk being hedged, with any gain or loss being recognized in the income statement. The Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> apply the fair value hedge accounting when the hedge item expires, was sold or exercised.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Net investment hedge accounting</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When a derivative financial instrument hedges the net investment in foreign operations, the effective part of any resulting gain or loss on the derivative financial instrument is recognized directly in other comprehensive income (translation reserve) , while any gains or losses relating to the ineffective portion are recognized in the income statement</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On disposal of a foreign operation, the cumulative gains or losses recognized directly in other comprehensive income is transferred to the income statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Derivative financial instruments at fair value through profit or loss</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Certain derivative financial instruments do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> qualify for hedge accounting purposes. Changes in fair value of such derivatives financial instruments are immediately recognized in income statement.</div> <!-- Field: Page; Sequence: 197; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(y)</div></td> <td><div style="display: inline; font-weight: bold;">Accounting for operating leases</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Leases of assets under which all the risks and rewards of ownership are substantially retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the income statement on a straight-line basis over the term of the lease.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When an operating lease is terminated before the lease period has expired, any payment required to be made to the lessor by way of penalty is recognized as an expense in the period in which termination takes place.</div> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(z)</div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">Government grants</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company has benefits from Brazilian state tax incentive programs to promote industrial development including the deferral of payment of taxes. These State programs are to promote long-term increases in employment, industrial decentralization, as well as complement and diversify the industrial states.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In the case of these States, the tax terms are foreseen in tax law. When conditions to obtain these grants exist, they are under the Company's control. The benefits for the postponement in the payment of such taxes are recorded in the income statement, on an accrual basis.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; background-color: white">The interest rates and (or) terms of these loans are advantageous over the market conditions, such financing are considered as subsidized loans as determined by IAS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20.</div> The referred subsidy consists of the gain earned when comparing the value of these operations in market to the value agreed in contract. Thereby, upon funding the subsidy calculated is recorded in Other operating income, following the treatment for the other ICMS subsidies. Management reviews annually the market conditions prevailing in the year to assess such subsidies.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; background-color: white">Monthly, taking into account the value of the consideration, the period to maturity, the financing contract interest rate and the above mentioned discount rate, the reduction in present value adjustment is allocated to financial income, so as to bring the balance to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">zero</div> by the time of settlement of each consideration.</div></div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant accounting policies applied by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801905680">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 4 - Use of Estimates and Judgments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfAccountingJudgementsAndEstimatesExplanatory', window );">Disclosure of accounting judgements and estimates [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 14.2pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">USE OF ESTIMATES AND JUDGMENTS</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The preparation of financial statements in conformity with IFRS requires Management to make judgments, estimates and assumptions that affect the application of accounting practices and the reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on past experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for decision making regarding the judgments about carrying amounts of assets and liabilities that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> readily evident from other sources. Actual results <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>differ from these estimates.</div> <!-- Field: Page; Sequence: 198; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The estimates and assumptions are reviewed on a regular basis. Changes in accounting estimates <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>affect the period in which they are realized, or future periods.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Although each of its significant accounting policies reflects judgments, assessments or estimates, the Company believes that the following accounting practices reflect the most critical judgments, estimates and assumptions that are important to its business operations and the understanding of its results:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) predecessor basis of accounting (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> (c));</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(ii) business combinations (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> (c) and (k);</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(iii) impairment (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> (v) and (w));</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(iv) provisions (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> (u));</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(v) share-based payments (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> (s));</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(vi) employee benefits (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> (r));</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(vii) current and deferred tax (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> (i));</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(viii) joint arrangements (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> (c)); e</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(ix) measurement of financial instruments, including derivatives (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> (v) and (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">x</div>)).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The fair values of acquired identifiable intangibles are based on an assessment of future cash flows. Impairment analyses of goodwill and indefinite-lived intangible assets are performed at least annually and whenever a triggering event occurs, in order to determine whether the carrying value exceeds the recoverable amount.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The company uses its judgment to select a variety of methods including the discounted cash flow method and option valuation models and makes assumptions about the fair value of financial instruments that are mainly based on market conditions existing at each balance sheet date.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Actuarial assumptions are established to anticipate future events and are used in calculating pension and other long-term employee benefit expense and liability. These factors include assumptions with respect to interest rates, rates of increase in health care costs, rates of future compensation increases, turnover rates, and life expectancy.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The company is subject to income tax&nbsp;in numerous jurisdictions. Significant judgment is required in determining the worldwide provision for income tax. There are some transactions and calculations for which the ultimate tax determination is uncertain. Some subsidiaries within the Company are involved in tax audits usually in relation to prior years. These audits are ongoing in various jurisdictions at the balance sheet date and, by their nature, these can take considerable time until its conclusion.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of judgements that management has made in the process of applying the entity's accounting policies that have the most significant effect on amounts recognised in the financial statements along with information about the assumptions that the entity makes about the future, and other major sources of estimation uncertainty at the end of the reporting period, that have a significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next year. [Refer: Carrying amount [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6803355600">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 5 - Segment Reporting<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 14.2pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.</div></div></td> <td><div style="display: inline; font-weight: bold;">SEGMENT REPORTING</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 200; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt">(a)</td> <td>Reportable segments &#x2013; Years ended in:</td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 8pt"><div style="display: inline; font-weight: bold;">Latin America - north <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 8pt"><div style="display: inline; font-weight: bold;">Latin America - south <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(ii)</div></div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Canada</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Consolidated</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Net sales</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,086.0</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,927.8</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,654.9</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,769.7</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,212.9</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,255.6</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,043.6</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,461.9</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,809.7</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47,899.3</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45,602.6</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46,720.2</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt">Cost of sales</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11,935.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10,870.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,921.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,122.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,685.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,306.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,984.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,122.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,833.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(18,041.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16,678.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16,061.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Gross profit</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,151.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,057.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,733.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,647.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,527.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,948.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,059.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,339.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,976.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,857.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,924.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,658.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 8pt; text-align: left">Distribution expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,193.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,965.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,709.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,007.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(979.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,047.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,093.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,140.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,076.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,295.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,085.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,833.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Sales and marketing expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,655.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,671.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,264.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,091.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,317.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,294.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(873.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(936.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(785.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,620.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,925.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,344.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Administrative expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,954.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,486.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,599.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(384.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(400.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(428.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(285.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(279.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(253.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,623.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,166.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,281.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Other operating income/(expenses)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,170.5</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,283.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,871.5</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(39.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(21.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,217.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,223.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,936.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Exceptional items</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(56.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,183.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(273.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(41.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(41.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(39.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(43.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(108.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,134.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(357.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Income from operations (EBIT)</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,462.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,401.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,757.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,163.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,749.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,198.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,801.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,954.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,821.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,426.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,105.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,778.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Net finance cost</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,693.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,694.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,842.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(709.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(439.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(868.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(91.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">431.5</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">443.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,493.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,702.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,268.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">Share of result of joint ventures</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Income before income tax</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,764.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,700.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,916.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,453.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,310.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,330.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,712.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,387.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,266.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,929.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,398.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,513.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Income tax expense</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,309.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,100.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,884.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,144.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(814.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,154.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(625.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(601.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(595.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,079.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(315.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,634.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Net income</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,454.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,800.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,032.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,309.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,496.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,176.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,086.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,786.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,670.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,850.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,083.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,879.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 8pt"><div style="display: inline; font-weight: bold;">Normalized EBITDA<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(iii)</div></div></div></td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,233.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,805.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,274.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,866.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,501.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,877.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,047.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,176.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,057.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,147.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,483.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,209.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Exceptional items</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(56.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,183.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(273.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(41.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(41.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(39.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(43.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(108.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,134.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(357.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Depreciation. amortization and impairment</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,715.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,586.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,242.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(662.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(710.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(639.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(234.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(214.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(192.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,612.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,512.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,074.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Net finance costs</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,693.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,694.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,842.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(709.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(439.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(868.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(91.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">431.5</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">443.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,493.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,702.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,268.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt">Share of result of joint ventures</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Income tax expense</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,309.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,100.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,884.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,144.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(814.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,154.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(625.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(601.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(595.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,079.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(315.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,634.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Net income</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,454.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,800.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,032.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,309.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,496.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,176.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,086.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,786.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,670.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,850.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,083.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,879.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Normalized EBITDA margin in %</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">51.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Acquisition of property, plant and equipment</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,862.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,352.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,442.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,051.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,365.5</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,654.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">292.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">317.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">285.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,206.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,035.4</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,381.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Segment assets</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">48,811.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50,935.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47,282.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,558.5</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,149.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,757.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,204.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,245.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,264.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">70,575.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">71,329.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">69,304.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Intersegment elimination</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,077.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,968.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,996.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Non-segmented assets</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,354.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,479.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,868.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Total assets</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">86,851.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">83,841.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">90,176.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Segment liabilities</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23,031.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,958.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,998.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,015.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,576.4</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,093.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,700.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,275.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,608.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32,747.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,811.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,701.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Intersegment elimination</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,077.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,968.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,996.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Non-segmented liabilities</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,182.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">55,998.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">62,471.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Total liabilities</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">86,851.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">83,841.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">90,176.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) Latin America &#x2013; North: includes operations in Brazil, Luxembourg and CAC (El Salvador, Guatemala, Nicaragua, Dominican Republic, Saint Vincent, Dominica, Antigua, Cuba, Barbados and Panama).</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">(ii) Latin America &#x2013; South: includes operations in Argentina, Bolivia, Chile, Paraguay and Uruguay. In addition Colombia, Ecuador and Peru, until <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016, </div>due to exchange of shareholdings<div style="display: inline; font-weight: bold;">, </div>according the Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> - <div style="display: inline; font-style: italic;">Corporate information</div>.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(iii) Normalized EBITDA is calculated excluding of the net income the following effects: (i) <div style="display: inline; color: black">Income tax expense</div>, (iii) <div style="display: inline; color: black">Share of results of joint ventures</div> (iii) <div style="display: inline; color: black">Net finance result</div>, (iv) Exceptional items, and (v) Depreciation, amortization and impairment of property, plant and equipment.</div> <!-- Field: Page; Sequence: 201; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt">(b)</td> <td>Additional information &#x2013; by Business unit &#x2013; Years ended in:</td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="35" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Latin America - north</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center">CAC</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center">Brazil</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center">Total</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Net sales</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,733.0</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,973.2</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,328.8</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,353.0</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,954.6</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,326.1</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,086.0</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,927.8</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,654.9</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt">Cost of sales</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,045.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,798.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,563.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,889.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,071.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8,358.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11,935.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10,870.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,921.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Gross profit</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,687.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,174.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,765.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,463.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,882.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,967.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,151.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,057.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,733.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 8pt; text-align: left">Distribution expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(538.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(409.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(357.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,655.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,555.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,352.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,193.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,965.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,709.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Sales and marketing expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(526.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(456.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(390.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,129.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,214.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,873.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,655.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,671.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,264.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Administrative expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(265.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(171.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(158.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,689.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,314.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,441.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,954.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,486.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,599.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Other operating income/(expenses)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">77.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,092.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,274.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,871.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,170.5</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,283.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,871.4</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Exceptional items</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,196.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(265.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(56.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,183.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(273.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Income from operations (EBIT)</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,412.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,132.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">851.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,049.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,269.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,906.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,462.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,401.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,757.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Net finance cost</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(46.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,646.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,685.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,885.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,693.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,694.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,842.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">Share of result of joint ventures</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Income before income tax</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,371.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,142.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">894.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,392.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,558.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,022.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,764.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,700.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,916.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Income tax expense</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(353.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(318.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(269.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,956.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,418.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,615.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,309.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,100.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,884.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Net income</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,018.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">823.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">624.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,436.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,976.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,407.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,454.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,800.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,032.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 8pt"><div style="display: inline; font-weight: bold;">Normalized EBITDA<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(iii)</div></div></div></td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,842.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,483.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,173.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,391.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,321.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,100.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,233.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,805.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,274.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Exceptional items</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,196.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(265.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(56.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,183.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(273.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Depreciation, amortization and impairment</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(406.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(338.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(314.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,309.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,248.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,928.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,715.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,586.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,242.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Net finance costs</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(46.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,646.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,685.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,885.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,693.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,694.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,842.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt">Share of result of joint ventures</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Income tax expense</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(353.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(318.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(269.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,956.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,418.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,615.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,309.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,100.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,884.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Net income</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,018.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">823.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">624.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,436.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,977.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,407.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,454.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,800.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,032.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Normalized EBITDA margin in %</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">37.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">51.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) Normalized EBITDA is calculated excluding of the net income the following effects: (i) <div style="display: inline; color: black">Income tax expense</div>, (iii) <div style="display: inline; color: black">Share of results of joint ventures</div>, (iii) <div style="display: inline; color: black">Net finance result</div>, (iv) Exceptional items, and (v) Depreciation, amortization and impairment of property, plant and equipment.</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <!-- Field: Page; Sequence: 202; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="35" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Brazil</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center">Beer</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center">Soft drink and <br /> Non-alcoholic and <br /> non-carbonated</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center">Total</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Net sales</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,509.3</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,173.1</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,441.3</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,843.7</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,781.5</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,884.8</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,353.0</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,954.6</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,326.1</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt">Cost of sales</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,895.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,339.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,757.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,994.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,731.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,600.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,889.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,071.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8,358.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Gross profit</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,614.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,833.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,683.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,849.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,049.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,284.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,463.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,882.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,967.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 8pt; text-align: left">Distribution expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,961.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,891.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,754.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(694.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(663.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(598.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,655.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,555.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,352.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Sales and marketing expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,953.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,044.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,691.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(175.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(170.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(182.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,129.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,214.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,873.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Administrative expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,476.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,160.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,341.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(212.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(154.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(99.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,689.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,314.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,441.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Other operating income/(expenses)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">825.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">969.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,551.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">267.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">304.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">320.4</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,092.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,274.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,871.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Exceptional items</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(28.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,014.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(265.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">182.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,196.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(265.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Income from operations (EBIT)</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,020.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,721.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,182.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,029.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,547.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,723.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,049.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,269.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,906.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Net finance cost</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,646.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,685.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,885.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,646.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,685.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,885.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">Share of result of joint ventures</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Income before income tax</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,362.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,010.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,299.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,029.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,547.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,723.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,392.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,558.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,022.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Income tax expense</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,956.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,418.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,615.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,956.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,418.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,615.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Net income</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,406.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,429.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,683.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,029.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,547.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,723.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,436.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,976.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,407.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 8pt"><div style="display: inline; font-weight: bold;">Normalized EBITDA <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,047.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,618.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,038.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,344.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,702.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,061.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,391.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,321.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,100.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Exceptional items</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(28.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,014.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(265.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">182.4</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,196.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(265.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Depreciation, amortization and impairment</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,999.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,911.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,590.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(310.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(337.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(338.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,309.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,248.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,928.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Net finance costs</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,646.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,685.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,885.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,646.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,685.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,885.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt">Share of result of joint ventures</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Income tax expense</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,956.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,418.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,615.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,956.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,418.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,615.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Net income</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,406.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,429.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,683.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,029.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,547.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,723.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,436.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,976.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,407.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Normalized EBITDA margin in %</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) Normalized EBITDA is calculated excluding of the net income the following effects: (i) <div style="display: inline; color: black">Income tax expense</div>, (iii) <div style="display: inline; color: black">Share of results of joint ventures</div>, (iii) <div style="display: inline; color: black">Net finance result</div>, (iv) Exceptional items, and (v) Depreciation, amortization and impairment of property, plant and equipment.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for operating segments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6723400416">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Net Sales<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfRevenueExplanatory', window );">Disclosure of revenue [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 14.2pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.</div></div></td> <td><div style="display: inline; font-weight: bold;">NET SALES</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The reconciliation between gross sales and net sales is as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Gross sales <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">72,411.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">79,551.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">97,214.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Excise duty</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16,192.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16,345.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(17,471.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">Discounts <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8,318.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(17,603.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33,022.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47,899.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45,602.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46,720.2</div></td> <td style="font-size: 10pt; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for revenue.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 18<br> -IssueDate 2017-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=18&amp;date=2017-03-02&amp;anchor=sect_Disclosure&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6668411264">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Other Operating Income/(Expenses)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherOperatingIncomeExpenseExplanatory', window );">Disclosure of other operating income (expense) [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 14.2pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.</div></div></td> <td><div style="display: inline; font-weight: bold;">OTHER OPERATING INCOME / (EXPENSES)</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Government grants/NPV of long term fiscal incentives</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">993.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,166.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,755.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">(Additions)/reversals to provisions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(132.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(106.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Gains/(losses) on disposal of property, plant and equipment, intangible assets and operation in associates</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">70.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other operating income/(expenses), net</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">145.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">233.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,217.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,223.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,936.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Government grants are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> recognized until there is reasonable assurance that the Company will meet related conditions and that the grants will be received. Government grants are systematically recognized in income during the periods in which the Company recognizes as expenses the related costs that the grants are intended to offset.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of other operating income or expense. [Refer: Other operating income (expense)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801979824">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Exceptional Items<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfExceptionalItemsTextBlock', window );">Disclosure of exceptional items [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 14.2pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.</div></div></td> <td><div style="display: inline; font-weight: bold;">EXCEPTIONAL ITEMS</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt">The exceptional items included in the income statement are detailed below:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Result through exchange transaction of shareholdings<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,240.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Restructuring</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(105.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(79.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(63.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Administrative lawsuit</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(239.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Costs arising from business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(29.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(48.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(108.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,134.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(357.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">(i) It refers to result of transaction of exchange of shareholdings, as mentioned in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> (b).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company opted to exclude these items when measuring segment-based performance, as per Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div> &#x2013; <div style="display: inline; font-style: italic;">Segment reporting</div>.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2017, </div>the Company recorded exceptional net finance cost of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$977</div> million &#x2013; see Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11</div> - <div style="display: inline; font-style: italic;">Finance cost and income</div> &#x2013; and a exceptional income tax expense of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$2.8</div> billion &#x2013; see Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> - <div style="display: inline; font-style: italic;">Income tax and social contribution</div>.</div></div><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Payroll and Related Benefits<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 14.2pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">PAYROLL AND RELATED BENEFITS</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Wages and salaries</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,371.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,038.9</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,086.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Social security contributions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">741.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">727.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">756.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Other personnel cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">616.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">613.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">561.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase in liabilities for defined benefit plans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">138.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">151.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">142.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Share-based payment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">236.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">189.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">209.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Contributions to defined contribution plans</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,123.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,746.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,774.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 204; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The result with payroll and related benefits are presented in the income statement as below:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt">Cost of sales</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,714.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,912.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,890.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Distribution expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">791.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">780.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">722.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Sales and marketing expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,096.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">989.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">980.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Administrative expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,470.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">970.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,154.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Net finance cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Exceptional items</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,123.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 10 - Additional Information on Operating Expenses by Nature<br></strong></div></th>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.</div></div></td> <td><div style="display: inline; font-weight: bold;">ADDITIONAL INFORMATION ON OPERATING EXPENSES BY NATURE</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Depreciation, amortization and impairment expenses are included in the following income statement accounts for the years <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015:</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center">Depreciation and impairment of property, plant and equipment</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center">Amortization of intangible assets</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 22%; font-size: 10pt">Cost of sales</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,364.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,283.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,053.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Distribution expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">197.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">200.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">177.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Sales and marketing expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">532.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">538.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">431.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">142.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">222.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">162.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Administrative expenses</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">231.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">182.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">165.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">142.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">81.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,325.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,204.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,828.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">290.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">323.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">247.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Finance Cost and Income<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.</div></div></td> <td><div style="display: inline; font-weight: bold;">FINANCE COST AND INCOME</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;">(a)</div></td> <td><div style="display: inline; font-weight: bold;">Finance costs</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Interest expense</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,571.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,547.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,062.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Capitalized borrowings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Net Interest on pension plans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(77.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(105.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(97.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Losses on hedging instruments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(616.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,575.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,267.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Interest on provision for disputes and litigations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(225.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(619.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(120.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Exchange variation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(339.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(310.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(721.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Tax on financial transactions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(179.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(224.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(146.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Bank guarantee expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(89.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(87.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(80.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other financial results</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(193.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(132.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(92.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,291.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,597.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,562.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Non-recurring finance cost</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(976.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,268.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,597.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,562.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The exceptional net finance cost refers to PERT <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> which Ambev applied for &#x2013; see Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19</div> - <div style="display: inline; font-style: italic;">Income tax and social contribution</div> and to the realization of the exchange variation of loans settled with related parties historically recognized in shareholders' equity.</div> <!-- Field: Page; Sequence: 205; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Interest expenses are presented net of the effect of interest rate derivative financial instruments which mitigate Ambev interest rate risk (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27</div> &#x2013; <div style="display: inline; font-style: italic;">Financial instruments and risks</div>). The interest expense are as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Financial liabilities measured at amortized cost</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(477.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(545.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(423.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Liabilities at fair value through profit or loss</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,076.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(961.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(601.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Fair value hedge - hedged items</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(49.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(22.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Fair value hedge - hedging instruments</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(15.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,571.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,547.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,062.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;">(b)</div></td> <td><div style="display: inline; font-weight: bold;">Finance income</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Interest income</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">458.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">513.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">575.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Gains on derivative</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">73.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">113.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">428.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Financial assets at fair value through profit or loss</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">227.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">247.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">261.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other financial results</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">774.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">895.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,294.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt">Interest income arises from the following financial assets:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Cash and cash equivalents</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">233.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">241.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">425.9</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Investment securities held for trading</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">51.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">149.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other receivables</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">198.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">221.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">458.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">513.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">575.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Income Tax and Social Contribution<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.</div></div></td> <td><div style="display: inline; font-weight: bold;">INCOME TAX AND SOCIAL CONTRIBUTION</div></td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Income taxes reported in the income statement are analyzed as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left">Income tax expense - current</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,332.3</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(413.9</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,227.8</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Deferred tax expense on temporary differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">891.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(732.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,192.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Deferred tax over taxes losses carryforwards movements&nbsp;&nbsp;in the current period</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(638.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">831.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(214.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total deferred tax (expense)/income</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">253.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">98.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,406.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total income tax expenses</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,079.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(315.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,634.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 206; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The reconciliation from the weighted nominal to the effective tax rate is summarized as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left">Income before tax</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,929.8</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,398.4</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,513.4</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Adjustment on taxable basis</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Non-taxable income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(310.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(392.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(999.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Government grants related to sales taxes</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,889.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,528.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,360.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Share of results of joint ventures</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-deductible expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">539.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">415.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Complement of income tax of foreign subsidiaries due in Brazil</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">560.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">148.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,965.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Results of intercompany transactions non-taxable/not deductible in Brazil</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(547.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">640.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,313.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,836.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,810.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,217.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Aggregated weighted nominal tax rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.22</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30.16</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31.59</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Taxes payable &#x2013; nominal rate</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,166.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,864.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,806.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Adjustment on tax expense</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Regional incentives - income taxes</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">304.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">264.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">257.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Deductible interest on shareholders' equity</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,649.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,867.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,646.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Tax savings from goodwill amortization on tax books</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">175.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">142.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">142.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Withholding tax over undistributed profits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(356.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">153.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(672.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Recognition / write-off of deferred charges on tax losses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(178.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">796.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">138.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">PERT 2017</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,784.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Others with reduced taxation</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(721.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">325.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(339.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Income tax and social contribution expense</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,079.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(315.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,634.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Effective tax rate</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.28</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.35</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22.01</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">%</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The main events that impacted the effective tax rate in the period were:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt; text-align: justify; text-indent: -14.2pt"><div style="display: inline; font-family: Wingdings">&sect;&nbsp; </div>Government subsidy on sales taxes: The reduction of tax expense reflects the deductibility of investment subsidies arising from deferred and presumed ICMS credits.</div> <div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt; text-align: justify; text-indent: -14.2pt"><div style="display: inline; font-family: Wingdings">&sect;&nbsp; </div>Deductible Interest on net equity: Under Brazilian law, companies have the option to distribute interest on equity (&#x201c;JCP&#x201d;), calculated based on the long-term interest rate (&#x201c;TJLP&#x201d;), Which are deductible for income tax purposes under the applicable legislation, which amount to be distributed until now is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$4,869.8,</div> of which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$4,850.1</div> are deductible and the tax impact is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$1,649.0.</div></div> <div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt; text-align: justify; text-indent: -14.2pt"><div style="display: inline; font-family: Wingdings">&sect;&nbsp; </div>Withholding tax on dividends: the variance is mainly driven by <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> factors (i) reversal of the provision related to withholding tax on unremitted earnings of Argentinean subsidiaries in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> due to a change in the local law that exempts the payment of dividends from withholding tax; and (ii) constitution of provision and exchange variation effect related to withholding tax on unremitted earnings of Canadian subsidiaries of approximately R$ <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">145</div> million, as opposed to the approximated amount of R$ <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div> million in the same period of the previous year.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</div> <!-- Field: Page; Sequence: 207; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0 0pt 14.2pt; font-size: 10pt; text-align: justify; text-indent: -14.2pt"><div style="display: inline; font-family: Wingdings"></div></div> <div style=" font-size: 10pt; text-align: justify; text-indent: -14.2pt; margin: 0 0 0 14.2pt"><div style="display: inline; font-family: Wingdings">&sect;&nbsp; </div>Amongst the contingencies covered by the Federal Tax Amnesty Program (&#x201c;PERT <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017&#x201d;</div>), there is a litigation whose purpose was to discuss the Presumed Profit method used by CRBS (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> of Ambev&#x2019;s subsidiaries in Brazil) to calculate its Corporate Income Taxes (namely, &#x201c;IRPJ&#x201d; and &#x201c;CSLL&#x201d;). The total amount booked as an expense, after the conversion of the Provisional Measure <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">783/2017</div> into Law, was R$ <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,926</div> million (principal, fine and interests), being R$ <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,785</div> million booked as non-recurring expenses under Corporate Income Tax and R$ <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">141</div> million under Financial Results.</div></div><span></span>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 13 - Property, Plant and Equipment<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.</div></div></td> <td><div style="display: inline; font-weight: bold;">PROPERTY, PLANT AND EQUIPMENT</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Land and buildings</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Plant and equipment</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Fixtures and fittings</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Under construction</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Acquisition cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,330.2</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,764.3</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,584.2</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,740.7</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">37,419.4</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Effect of movements in foreign exchange</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(27.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">228.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(24.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">204.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Acquisitions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">626.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">171.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,367.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,175.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Disposals</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(555.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(125.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(706.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Transfer to other asset categories</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">415.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,657.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">473.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,857.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(310.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">36.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,961.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,538.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,076.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,257.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39,835.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Depreciation and Impairment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,278.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13,075.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,912.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(18,265.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Foreign exchange effects</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(104.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(116.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Depreciation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(299.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,245.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(655.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,200.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Impairment losses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(125.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(125.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Disposals and write-off</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">539.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">109.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">654.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Transfer to other asset categories</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,585.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(14,973.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,453.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(21,012.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Carrying amount:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,052.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,689.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,672.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,740.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,153.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">December 31, 2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,376.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,565.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,623.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,257.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,822.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <!-- Field: Page; Sequence: 208; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Land and buildings</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Plant and equipment</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fixtures and fittings</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Under construction</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Acquisition cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,718.3</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,369.6</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,465.1</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,132.6</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">36,685.6</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Effect of movements in foreign exchange</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(474.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,528.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(427.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(222.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,652.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Acquisitions through business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">283.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">360.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">56.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">700.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Acquisitions through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">221.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">185.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">433.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Disposals through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(121.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(344.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(101.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(571.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Acquisitions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">819.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">276.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,905.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,009.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Disposals</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(106.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(693.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(210.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,012.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Transfer to other asset categories</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">800.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,595.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">526.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,095.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(173.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,330.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,764.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,584.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,740.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">37,419.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Depreciation and Impairment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,244.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12,562.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,738.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(17,545.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Foreign exchange effects</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">804.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">236.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,137.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Disposals through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">241.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">51.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">345.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Depreciation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(277.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,117.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(688.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,083.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Impairment losses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(120.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(120.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Disposals</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">646.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">187.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">928.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Transfer to other asset categories</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">61.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,278.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13,075.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,912.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(18,265.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Carrying amount:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">December 31, 2015</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,474.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,807.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,726.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,132.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,140.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,052.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,689.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,672.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,740.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,153.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Leases, capitalized interests and fixed assets provided as guarantee are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> material.</div></div><span></span>
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<td style="white-space:nowrap;">abev_StatementLineItems</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<td style="white-space:nowrap;">ifrs-full_DisclosureOfPropertyPlantAndEquipmentExplanatory</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6800789104">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 14 - Goodwill<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfGoodwillExplanatory', window );">Disclosure of goodwill [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14.</div></div></td> <td><div style="display: inline; font-weight: bold;">GOODWILL</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; font-weight: bold; text-align: left">Balance at end of previous year</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,511.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,953.1</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Effect of movements in foreign exchange</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">489.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,388.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">Acquisition and disposal through business combinations <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">401.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,947.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at the end of year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,401.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,511.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> it refers mainly to the goodwill allocation of acquisition of Cachoeiras de Macacu, and in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> refers to the acquisition of Mark Anthony and Cerveceria Nacional in the transaction of exchange of shareholdings.</div> <!-- Field: Page; Sequence: 209; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The carrying amount of goodwill was allocated to the different cash-generating units as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">Functional currency</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">LAN:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 61%; font-size: 10pt">Brazil</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: center">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">BRL</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,668.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,424.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-indent: 10pt">Goodwill</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">102,911.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">102,667.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-indent: 10pt">Non-controlling transactions (i)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="text-align: center">&nbsp;</td> <td style="text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(85,242.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(85,242.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Dominican Republic</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">DOP</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,163.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,224.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Cuba <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(ii)</div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">USD</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Panama</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">PAB</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,149.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,060.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">LAS:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Argentina</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ARS</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">443.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">518.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Bolivia</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">BOB</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,170.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,152.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Chile</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">CLP</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Paraguay</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">PYG</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">786.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">753.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Uruguay</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">UYU</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">170.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">165.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">NA:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Canada</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: center">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">CAD</div></div></td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,800.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,165.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,401.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,511.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) It refers to the exchange of shareholdings operation occurred in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2013</div> as a result of the adoption of the predecessor basis of accounting.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(ii) The functional currency of Cuba, the Cuban convertible peso (CUC), has a fixed parity with the dollar (USD) at balance sheet date.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Annual impairment testing</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Goodwill impairment testing relies on a number of critical judgments, estimates and assumptions. Goodwill, which accounted for approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">36%</div> of total assets as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 (</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">36%</div> as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016) </div>is tested for impairment at the cash-generating unit level (that is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> level below the reporting segments). The cash-generating unit level is the lowest level at which goodwill is monitored for internal management purposes. In a business combination occurs, goodwill is allocated as from the acquisition date, to each of business units that are expected to benefit from the synergies of the combination.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company&#x2019;s impairment testing methodology is in accordance with IAS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">36,</div> in which a fair-value-less-cost-to-sell and value in use approaches are taken into consideration. This consists in applying a discounted cash flow approach based on acquisition valuation models for its major business units and the business units showing high capital amounts invested in earnings before interest, taxes, depreciation and amortization (&#x201c;EBITDA&#x201d;) multiples. The ratio between invested capital and EBITDA is basis for selecting the cash generating units to be tested.</div> <!-- Field: Page; Sequence: 210; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 14.2pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td>Only for CGU Latin America North there was need to apply the impairment test;</td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt"></div> <div style=" margin: 0pt 1.85pt 0pt 21.3pt; font-size: 10pt; text-align: justify; text-indent: -21.3pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 14.2pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td>For Latin America South and Canada there was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> need to apply the impairment test.</td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The key judgments, estimates and assumptions used in the discounted free cash flow calculations are generally as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 1.85pt 0pt 0; font-size: 10pt; text-align: justify"></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 14.2pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td>The <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> year of the model is based on management's best estimate of the free cash flow outlook for the current year;</td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 1.85pt 0pt 0; font-size: 10pt; text-align: justify"></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 14.2pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify; padding-right: 1.85pt">In the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">second</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">fourth</div> years of the model, free cash flows are based on ABInBev's strategic plan as approved by key management. AB&nbsp;InBev's strategic plan is prepared per country and is based on external sources in respect of macro-economic assumptions, industry, inflation and foreign exchange rates, past experience and identified initiatives in terms of market share, revenue, variable and fixed cost, capital expenditure and working capital assumptions;</td> </tr>  </table> <div style=" margin: 0pt 1.85pt 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 14.2pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify; padding-right: 1.85pt">From the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">fifth</div> to the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">tenth</div> year of the model, as well as for perpetuity, the cash flows are extrapolated using expected long-term consumer price indices and the growth of the beer market, based on external sources specific from each UGC;</td> </tr>  </table> <div style=" margin: 0pt 1.85pt 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 14.2pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify; padding-right: 1.85pt">Projections are made in the functional currency of the business unit and discounted at the unit's weighted average cost of capital (&#x201c;WACC&#x201d;), considering sensitivities on this metric.</td> </tr>  </table> <div style=" margin: 0pt 1.85pt 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 14.2pt"><div style="display: inline; font-family: Wingdings">&sect;</div></td> <td style="text-align: justify; padding-right: 1.85pt">Cost to sell is assumed to reach <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.5%</div> of the entity value based on historical precedents.</td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The weighted average cost of capital in nominal dollars, for the impairment testing of goodwill performed varied as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right">2016</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="width: 74%; font-size: 10pt; text-align: left">Latin America North</td> <td nowrap="nowrap" style="width: 1%; font-size: 10pt">&nbsp;</td> <td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">from 8.59%</div></td> <td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to</div></div></td> <td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.29%</div></td> <td nowrap="nowrap" style="width: 1%; font-size: 10pt">&nbsp;</td> <td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">from 8.39%</div></td> <td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to</div></div></td> <td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.27%</div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Although Ambev believes that its judgments, assumptions and estimates are appropriate, actual results <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>differ from these judgments.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of goodwill. [Refer: Goodwill]</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 15 - Intangible<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsExplanatory', window );">Disclosure of intangible assets [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.</div></div></td> <td><div style="display: inline; font-weight: bold;">INTANGIBLE </div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Distribution</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Brands</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">contracts</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Software</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Others</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Total</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Acquisition cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,160.8</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,319.4</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">888.5</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">460.7</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,829.4</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Effect of movements in foreign exchange</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Acquisitions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Acquisitions through business combination</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Transfers to other assets categories</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(650.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">265.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(352.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end of year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,514.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,333.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,144.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">540.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,533.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Amortization and Impairment losses<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,760.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(597.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(223.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,583.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Foreing exchange effects</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(138.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(118.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(290.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Transfers to other assets categories</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end of year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,894.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(711.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(250.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,858.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Carrying amount:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,158.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">558.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">291.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">236.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,245.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">December 31, 2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,512.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">438.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">432.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">290.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,674.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) The period of amortization of intangible assets of definite useful life is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"></div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div> </div>years and amortization is calculated at the rate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20</div>%</div> and recognized in income on a straight-line method.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Distribution</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Brands</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">contracts</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Software</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Others</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Total</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Acquisition cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,908.2</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,387.4</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">788.4</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">356.8</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,440.8</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Effect of movements in foreign exchange</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(645.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(68.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(50.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(93.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(858.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Acquisitions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Disposal</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Acquisitions through business combination</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,043.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,073.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Acquisitions through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">228.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">248.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Disposals through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(58.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(67.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Transfers to other assets categories</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(317.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">135.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(24.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(206.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">172.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">172.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end of year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,160.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,319.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">888.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">460.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,829.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Amortization and Impairment losses (i)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,622.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(539.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(184.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,348.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Foreing exchange effects</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">79.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(148.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(94.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(80.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(323.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Disposal</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Disposals through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Transfers to other assets categories</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end of year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,760.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(597.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(223.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,583.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Carrying amount:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">December 31, 2015</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,906.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">765.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">248.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">172.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,092.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,158.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">558.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">291.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">236.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,245.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) The period of amortization of intangible assets of definite useful life is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div> years and amortization is calculated at the rate of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20%</div> and recognized in income on a straight-line method.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <!-- Field: Page; Sequence: 212; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company is the owner of some of the world&#x2019;s leading brands in the beer industry. As a result, brands are expected to generate positive cash flows for as long as the Company owns the brands and accordingly have been assigned indefinite lives. The most representative brands that have been registered as result of fair value determination of past acquisitions are <div style="display: inline; font-style: italic;">Quilmes</div> in Argentina, <div style="display: inline; font-style: italic;">Pilsen</div> in Paraguay and Bolivia and <div style="display: inline; font-style: italic;">Presidente </div>and <div style="display: inline; font-style: italic;">Presidente Light</div> in Dominican Republic.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The carrying value of intangible assets with indefinite useful lives classified as brands was allocated to the following CGU:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt">Argentina</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">348.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">373.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Bolivia</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">567.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">558.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Brazil</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">575.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Canada</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">223.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">205.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Chile</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">69.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">63.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Luxembourg</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">339.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">419.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Paraguay</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">447.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">429.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Dominican Republic</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,396.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,422.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Uruguay</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">115.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">111.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,512.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 16 - Investment Securities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfInvestmentSecuritiesTextBlock', window );">Disclosure of investment securities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.</div></div></td> <td><div style="display: inline; font-weight: bold;">INVESTMENT SECURITIES</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">Debt held-to-maturity <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">122.0</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104.3</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Non-current investments securities</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">122.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Financial asset at fair value through profit or loss-held for trading</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">282.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Current investments securities</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">282.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">133.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the investment securities of the entity.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801800176">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 17 - Deferred Income Tax and Social Contribution<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfDeferredIncomeTaxAndSocialContributionTextBlock', window );">Disclosure of deferred income tax and social contribution [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.</div></div></td> <td><div style="display: inline; font-weight: bold;">DEFERRED INCOME TAX AND SOCIAL CONTRIBUTION</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred taxes for income tax and social contribution taxes are calculated on tax losses, the negative tax basis of social contributions and the temporary differences between the tax bases and the carrying amount in the financial statement of assets and liabilities. The rates of these taxes in Brazil, which are expected at the realization of deferred taxes, are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25%</div> for income tax and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9%</div> for social contribution. For the other regions, with operational activity, expected rates, are as follow:</div> <!-- Field: Page; Sequence: 213; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">Central America and the Caribbean</td> <td nowrap="nowrap" style="width: 5%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">from 23%</div></td> <td style="width: 20%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to</div></div></td> <td style="width: 5%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31%</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Latin America <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">from 14%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35%</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Canada</td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">26%</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) Amendments to Argentine tax legislation approved on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 29, 2017 </div>affect tax periods beginning in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 2018 </div>and reduce the income tax rate in the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> years from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35%</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30%</div> and, as a after, to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25%.</div> For fiscal year <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> however, there is an impact of R $ <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.0</div> million in deferred income tax.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax assets are recognized to the extent that it is probable that future taxable profit will be available to be used to offset temporary differences / loss carry forwards based on projections of future results prepared and based on internal assumptions and future economic scenarios which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>therefore change.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The amount of deferred income tax and social contribution by type of temporary difference is detailed as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Assets</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Liabilities</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Net</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Assets</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Liabilities</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Net</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 34%; font-size: 10pt; text-align: left">Investment securities</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Intangible</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(719.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(719.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(733.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(733.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Employee benefits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">631.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">631.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">467.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">467.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade payables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,382.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(314.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,068.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">977.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(531.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">446.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trade receivable</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Derivatives</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">71.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(110.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(39.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Inventories</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">248.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(18.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">230.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">267.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">253.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Property, plant and equipment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(920.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(920.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(905.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(905.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Withholding tax over undistributed profits and royalties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(788.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(788.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(684.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(684.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Investments in associates</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(421.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(421.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(421.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(421.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Loss carryforwards</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">501.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">501.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,139.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,139.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Provisions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">347.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(39.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">307.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">448.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(44.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">404.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other items</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(15.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(24.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(39.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Gross deferred tax assets / (liabilities)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,208.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,258.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(49.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,409.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,471.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(61.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Netting by taxable entity</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(929.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">929.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,141.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,141.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Net deferred tax assets / (liabilities)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,279.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,329.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(49.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,268.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,329.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(61.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company only offsets the balances of deferred income tax and social contribution assets against liabilities when they are within the same entity and are expected to be realized in the same period.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Tax losses and negative bases of social contribution and temporary deductible differences in Brazil, on which the deferred income tax and social contribution were calculated, have <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> expiry date.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>the assets and liabilities deferred taxes related to combined tax losses has an expected utilization/settlement by temporary differences as follows:</div> <!-- Field: Page; Sequence: 214; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Deferred taxes not related to tax losses</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">to be realized until 12 months</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">to be realized after 12 months</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Total</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 67%; font-size: 10pt; text-align: left">Investment securities</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Intangible assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(719.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(719.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Employee benefits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">112.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">518.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">631.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade payables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,382.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(314.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,068.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trade receivable</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Derivatives</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Inventories</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">230.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">230.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Property, plant and equipment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(58.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(862.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(920.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Withholding tax over undistributed profits and royalties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(788.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(788.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Investments in associates</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(421.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(421.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Provisions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">215.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">307.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other items</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,807.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,358.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(550.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: left">Deferred tax related to tax losses</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 87%; font-size: 10pt; text-align: left">2018</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">209.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">2019</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">98.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">2020</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">2021</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">A partir de 2022 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">167.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">501.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) There is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> expectation of realization that exceeds the term of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10</div> years.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>deferred tax assets in the amount of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$427.4</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$455.6</div> as at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016) </div>related to tax losses and temporary differences of subsidiaries abroad were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> recorded as the realization is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> probable.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Major part of the fiscal losses amount do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have a carryforward limit for utilization&nbsp;and the tax losses carried forward in relation to them are equivalent to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$1,709.5</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 (</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$2,285.2</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016).</div></div> <!-- Field: Page; Sequence: 215; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The net change in deferred income tax and social contribution is detailed as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 87%; font-size: 10pt; font-weight: bold">At December 31, 2015</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">276.3</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Full recognition of actuarial gains/(losses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Investment hedge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Investment hedge - put option of a subsidiary interest</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(364.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Cash flow hedge - gains/(losses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">536.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Gains/losses on translation of other foreign operations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(578.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Recognized in other comprehensive income</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(360.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Recognized in income statement</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">98.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Changes directly in balance sheet</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Recognized in deferred tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(21.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Anticipation federal amnesty</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(54.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(61.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Full recognition of actuarial gains/(losses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Investment hedge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(262.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Investment hedge - put option of a subsidiary interest</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(31.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Cash flow hedge - gains/(losses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(269.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Gains/(losses) on translation of other foreign operations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">136.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Recognized in other comprehensive income</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(387.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Recognized in income statement</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">253.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Changes directly in balance sheet</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">146.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Recognized in deferred tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Recognized in other group of balance sheet</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">110.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 18 - Inventories<br></strong></div></th>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.</div></div></td> <td><div style="display: inline; font-weight: bold;">INVENTORIES </div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Finished goods</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,528.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,445.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Work in progress</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">309.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">328.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Raw material</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,816.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,962.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Consumables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">77.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Spare parts and other</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">476.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">447.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Prepayments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">210.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">234.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Impairment losses</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(100.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(121.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,319.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,347.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Write-offs/losses on inventories recognized in the income statement amounted to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$73.2</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$114.4</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>).</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=2&amp;date=2017-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 19 - Trade Receivables<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory', window );">Disclosure of trade and other receivables [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.</div></div></td> <td><div style="display: inline; font-weight: bold;">TRADE RECEIVABLES</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Trade receivables</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,335.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,774.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Bad debt provision</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(521.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(443.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Net, trade receivables</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,814.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,330.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Related parties</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">130.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">37.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total current trade receivables</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,944.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,368.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The aging of our current trade receivables, net of impairment losses, is detailed as follows:</div> <!-- Field: Page; Sequence: 216; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Net carrying amount as of December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">No past due</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Past due &#x2013; until 30 days</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Past due &#x2013; between 31 - 60 days</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Past due &#x2013; between 61 - 90 days</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Past due &#x2013; between 91 - 180 days</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Past due &#x2013; between 181 - 360 days</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Past due 360 days</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; font-size: 10pt; text-align: left">Trade receivables</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,335.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,343.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">340.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">63.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">85.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">427.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Bad debt provision</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(521.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(45.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(42.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(427.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,814.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,339.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">340.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">62.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trade receivables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,774.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,093.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">187.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">352.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Bad debt provision</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(443.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(38.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(352.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,330.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,086.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">186.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Impairment losses on trade receivables recognized in the income statement in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> amount to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$83.1</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$82.1</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Company&#x2019;s exposure to credit risk, currency and interest rate risks is disclosed in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27</div> -<div style="display: inline; font-style: italic;">Financial instruments and risks</div>.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of trade and other receivables. [Refer: Trade and other receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6818731152">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 20 - Cash and Cash Equivalents<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory', window );">Disclosure of cash and cash equivalents [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20.</div></div></td> <td><div style="display: inline; font-weight: bold;">CASH AND CASH EQUIVALENTS</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Short term bank deposits <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,688.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,027.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Current bank accounts</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,077.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,467.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Cash</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">588.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">381.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Cash and cash equivalents</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,354.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,876.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Bank overdrafts</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Cash and cash equivalents less bank overdraft</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,352.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,876.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) The balance refers mostly to Bank Deposit Certificates - CDB, high liquidity, which are readily convertible into known amounts of cash and which are subject to an insignificant risk of change in value.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of cash and cash equivalents. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801814320">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Changes in Equity<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfChangesInEquityTextBlock', window );">Disclosure of changes in equity [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21.</div></div></td> <td><div style="display: inline; font-weight: bold;">CHANGES IN EQUITY</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">(a) Capital stock </div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Million of common shares</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Million of Real</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Million of common shares</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Million of Real</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; font-size: 10pt; text-align: left">Beginning balance as per statutory books</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,717.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,614.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,717.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,614.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Share issued</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,717.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,614.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,717.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,614.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 217; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">(b) Capital reserves</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Capital Reserves</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Treasury shares</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Share <br /> Premium</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Others capital reserves</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Share-based Payments</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; font-size: 10pt; font-weight: bold; text-indent: 10pt">At December 31, 2015</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,003.5</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53,662.8</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">700.9</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,013.4</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">54,373.6</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Purchase of shares and result on treasury shares</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">94.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">94.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Share-based payments</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">61.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">61.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-indent: 10pt">At December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(908.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53,662.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">700.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,074.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">54,529.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Purchase of shares and result on treasury shares</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Share-based payments</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">157.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">157.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-indent: 10pt">At December 31, 2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(895.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53,662.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">700.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,232.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">54,701.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">b.1</div>) Treasury shares</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The treasury shares comprise own issued shares reacquired by the Company and the result on treasury shares that refers to gains and losses related to share-based payments transactions and others.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Follows the changes of treasury shares:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Acquire /realization shares</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Result on Treasure Shares</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total Treasure Shares</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Thousands shares</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Thousands Brazilian Real</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Thousands shares</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Thousands Brazilian Real</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td colspan="2">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td colspan="2">&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; font-size: 10pt; font-weight: bold">At December 31, 2015</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32.6</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(617.5</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(386.1</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,003.5</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Changes during the year</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">304.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(209.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">94.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(312.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(596.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(908.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Changes during the year</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">173.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(159.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(139.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(755.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(895.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">b.2</div>) Share premium</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The share premium refers to the difference between subscription price that the shareholders paid for the shares and theirs nominal value. Since this is a capital reserve, it can only be used to increase capital, offset losses, redeem, reimbursement or repurchase shares.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">b.3</div>) Share-based payment</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">There are different share-based payment programs and stock option plans which allow the senior management from Ambev economic group to receive or acquire shares of the Company.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The share-based payment reserve recorded a charge of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$209.3</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$170.3</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$197.1</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> respectively) (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24</div> &#x2013; <div style="display: inline; font-style: italic;">Share-based payments</div>).</div> <!-- Field: Page; Sequence: 218; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">(c) Net income reserves</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Net income reserves</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Investments reserve</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Statutory reserve</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Fiscal incentive</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Interest on capital and dividends proposed</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; font-size: 10pt; font-weight: bold">At December 31, 2015</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,141.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,016.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,039.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,201.1</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Interest on shareholder&acute;s equity</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,039.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,039.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Destination of net income</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,718.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,819.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,538.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,859.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,835.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,700.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Interest on shareholder&acute;s equity</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,770.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,770.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Fiscal incentive reserve</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,552.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,552.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Investments reserve</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,177.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,177.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,267.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,388.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,660.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">c.1</div>) Investments reserve</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">From net income after deductions applicable, will be aimed <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> more than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60</div></div>%</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">sixty</div> per cent) to investment reserve to support future investments.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">c.2</div>) Statutory reserve</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">From net income, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></div>%</div> will be applied before any other allocation, to the statutory reserve, which cannot exceed <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20</div></div>%</div> of capital stock. The Company is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> required to supplement the statutory reserve in the year when the balance of this reserve, plus the amount of capital reserves, exceeds <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30</div></div>%</div> of the capital stock. </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">c.3</div>) Tax incentives</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company has tax incentives framed in certain state and federal industrial development programs in the form of financing, deferred payment of taxes or partial reductions of the amount due. These state programs aim to promote the expansion of employment generation, regional decentralization, complement and diversify the industrial base of the States. In these states, the grace periods, enjoyment and reductions are permitted under the tax law.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">c.4</div>) Interest on shareholders&#x2019; equity / Dividends</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Brazilian companies are permitted to distribute interest attributed to shareholders&#x2019; equity calculated based on the long-term interest rate (TJLP), such interest being tax-deductible, in accordance with the applicable law and, when distributed, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be considered part of the minimum mandatory dividends.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As determined by its By-laws, the Company is required to distribute to its shareholders, as a minimum mandatory dividend in respect of each fiscal year ending on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, </div>an amount <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> less than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40</div></div>%</div> of its net income determined under Brazilian law, as adjusted in accordance with applicable law, unless payment of such amount would be incompatible with Ambev&#x2019;s financial situation. The minimum mandatory dividend includes amounts paid as interest on shareholder&#x2019;s equity.</div> <!-- Field: Page; Sequence: 219; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Events during the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017:</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Event</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Approval</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Type</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Date of payment</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Type of share</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Amount per share</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total amount</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">05/16/2017</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 12%; font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">07/17/2017</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1600</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,513.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12/01/2017</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest on shareholder&acute;s equity</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12/28/2017</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3100</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,869.7</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Board of Directors Meeting</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12/21/2017</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">02/22/2018</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0700</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,099.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,482.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(i) <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$3,770.1</div> of these interest on shareholder&acute;s equity refer to the total amount approved for distribution in the period, and were accrued in investments reserves.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">Events during the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016:</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Event</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Approval</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Type</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Date of payment</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Type of share</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Amount per share</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total amount</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">01/15/2016</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest on shareholder&acute;s equity</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">02/29/2016</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1300</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,039.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">06/24/2016</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">07/29/2016</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1300</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,040.8</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">10/19/2016</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">11/25/2016</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1600</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,511.9</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1/12/2016</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest on shareholder&acute;s equity</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12/29/2016</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.2200</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,454.2</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Board of Directors Meeting</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12/22/2016</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">02/23/2017</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0700</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,099.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,145.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">Events during the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015:</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Event</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Approval</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Type</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Date of payment</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Type of share</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Ammount per share</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total amount</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 14%; font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">02/23/2015</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest on shareholders&#x2019; equity</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">03/31/2015</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0300</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">471.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">02/23/2015</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest on shareholders&#x2019; equity</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">03/31/2015</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0600</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">943.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">05/13/2015</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest on shareholders&#x2019; equity</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">06/29/2015</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1000</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,570.6</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">08/28/2015</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">09/28/2015</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1500</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,352.4</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Board of Directors Meeting</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12/01/2015</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest on shareholders&#x2019; equity</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12/30/2015</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1500</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,352.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,690.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) These dividends refer to the total amount approved for distribution in the period, and were accrued in investments reserves.</div> <!-- Field: Page; Sequence: 220; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: -0.5in">&nbsp;</div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; font-weight: bold; text-align: justify; text-indent: -0.5in">(d) Carrying value adjustments</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="30" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Carrying value adjustments</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Translation reserves</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Cash flow hedge</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Actuarial gains/ (losses)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Options granted on subsidiary</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Gains/(losses) of non-controlling interest&acute;s share</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Business combination</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Accounting adjustments for transactions between shareholders</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="width: 12%; font-size: 10pt; font-weight: bold">At December 31, 2015</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,472.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">932.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,131.5</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,246.7</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,123.6</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">156.1</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75,162.9</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(71,857.0</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; font-style: italic; text-align: left">Comprehensive income:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Gains/(losses) on translation of foreign operations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,728.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,728.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Cash flow hedges</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,076.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,076.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Actuarial gains/(losses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(130.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(130.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total Comprehensive income</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,728.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,076.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(130.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,936.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Options granted on subsidiary</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(144.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(144.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Gains/(losses) of controlling interest&acute;s share</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Reversal effect of revaluation of fixed assets by previous cost</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(289.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(144.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,262.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,390.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,150.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">156.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75,238.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(77,019.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-style: italic; text-align: left">Comprehensive income:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Gains/(losses) on translation of&nbsp;&nbsp;foreign operations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,928.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,928.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Cash flow hedges</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">513.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">513.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Actuarial gains/(losses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">117.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">117.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total Comprehensive income</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,928.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">513.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">117.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,559.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Put option granted on subsidiary</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(380.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(380.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Gains/(losses) of controlling interest&acute;s share</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Tax on fictitious dividends</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(38.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(38.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Reversal effect revaluation of fixed assets under the predecessor basis accounting</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,639.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">368.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,144.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,771.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,099.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">156.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75,314.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(74,966.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <!-- Field: Page; Sequence: 221; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">d.1</div>) Translation reserves</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The translation reserves comprise all foreign currency exchange differences arising from the translation of the financial statements with a functional currency different from the Real.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The translation reserves also comprise the portion of the gain or loss on the foreign currency liabilities and on the derivative financial instruments determined to be effective net investment hedges in conformity with IAS&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">d.2</div>) Cash flow hedge reserves</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The hedging reserves comprise the effective portion of the cumulative net change in the fair value of cash flow hedges to the extent the hedged risk has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> yet impacted profit or loss (For additional information, see Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27</div> &#x2013; <div style="display: inline; font-style: italic;">Financial instruments and risks)</div>.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">d.3</div>) Actuarial gains and losses</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The actuarial gains and losses include expectations with regards to the future pension plans obligations. Consequently, the results of actuarial gains and losses are recognized on a timely basis considering best estimate obtained by Management. Accordingly, the Company recognizes on a monthly basis the results of these estimated actuarial gains and losses according to the expectations presented based on an independent actuarial report.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The actuarial gain of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$158.5</div> arising from the surplus reverted to the Sponsor, originating from Ambev Private Pension Institute of the defined benefits plan was fully recorded under the heading of actuarial gains and losses.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">d.4</div>) <div style="display: inline; color: black">Options granted on subsidiary</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As part of the shareholders agreement between the Ambev and ELJ, an option to sell (&#x201c;put&#x201d;) and to purchase (&#x201c;call&#x201d;) was issued, which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>result in an acquisition by Ambev of the remaining shares of Tenedora CND, for a value based on EBITDA, +/- net debt, from operations, the &#x201c;put&#x201d; exercisable annually until <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019</div> and the &#x201c;call&#x201d; from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019.</div> On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>the put option held by ELJ is valued at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$5,520.2</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$4,878.5</div> on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016) </div>and the liability categorized as &#x201c;Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3&#x201d;,</div> as the Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27</div> (b) and in accordance with the IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No</div> value has been assigned to the call option held by the Company, since the likelihood of exercise is remote. The fair value of this consideration deferred was calculated by using standard valuation techniques (present value of the principal amount and future interest rates, discounted by the market rate). The criteria used are based on market information and from reliable sources and the fair value is revaluated on an annual basis.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <!-- Field: Page; Sequence: 222; Value: 1 -->   <!-- Field: /Page --> <div style=" font-size: 10pt; text-align: justify; margin: 0">As disclosed in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,</div> on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1st,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> Ambev informed its shareholders and the general market that the E. Le&oacute;n Jimenes, S.A. (&#x201c;ELJ&#x201d;) will exercise partially its put option of approximatelly <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30%</div> of capital stock by Tenedora. Due to the partial exercise of put option, the Company will be the holder of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">85%</div> of Tenedora. Additionally, was approved the change of the call option term from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2022.</div> The operation was subject to certain conditions which were consummated on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 18, 2018, </div>as presented in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35</div> - <div style="display: inline; font-style: italic;">Events after the reporting period</div>.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As part of the agreement to acquire the remaining shares of Sucos do Bem, a put option on interest in subsidiary determined by gross revenue of its products and exercisable from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2019</div> has been granted. On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>the option is valued at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$132.0</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$127.7</div> on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016).</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As part of the acquisition agreement of all shares of the company Tropical Juice, currently Cervejaria ZX S.A. a put option on interest in subsidiary exercisable from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018</div> has been granted. On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>the option is valued at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$23.0</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$23.4</div> on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016).</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The reconciliation of changes in these options is presented in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27</div> <div style="display: inline; font-style: italic;">&#x2013; Financial instruments and risks</div>.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">d.5</div>) Accounting for acquisition of non-controlling interests</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In transactions with non-controlling interests of the same business, even when performed&nbsp;at arm's length terms, that present valid economic grounds and reflect normal market conditions, will be consolidated by the applicable accounting standards as occurred within the same accounting entity.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As determined by IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,</div> any difference between the amount paid (fair value) for the acquisition of non-controlling interests and are related to carrying amount of such non-controlling interest shall be recognized directly in controlling shareholders&#x2019; equity. The acquisition of non-controlling interest related to Old Ambev, the above mentioned adjustment was recognized in the Carrying value adjustments when applicable.</div> <!-- Field: Page; Sequence: 223; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">(e) Earnings per share</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Basic and diluted earnings per share of the stock option and deferred stock</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The calculation of basic earnings per share is based on the net income attributable to equity holders of Ambev and the proportional weighted average number of shares outstanding during the year.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Diluted earnings per share of the stock option and deferred stock is based on the net income attributable to equity holders of Ambev and the adjusting the weighted average number of shares outstanding during the year to assume conversion of all potentially dilutive shares, as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">Million shares</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt"><div style="display: inline; font-size: 10pt">Issued shares at December 31, net of treasury shares <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,705.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,696.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,696.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Effect of shares options</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">126.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">124.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Weighted average number of shares (diluted) at December 31</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,838.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,823.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,820.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">(i) <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Not</div> considered treasury shares.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The tables below present the calculation of earnings per share (&#x201c;EPS&#x201d;):</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Income attributable to equity holders of Ambev</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,332.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,546.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,423.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Weighted average number of shares (non diluted)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,705.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,696.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,696.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Basic EPS (i)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.47</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.80</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.79</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Income attributable to equity holders of Ambev</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,332.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,546.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,423.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Weighted average numbers of shares (diluted)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,838.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,823.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,820.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Diluted EPS (i)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.46</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.79</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.79</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) Expressed in Brazilian Reais.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">(f) Destinations</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the Company has done the appropriations to retained earnings, in accordance with the Brazilian Corporate law and the Company&#x2019;s bylaws. The dividends payments made until <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2017 </div>were approved at the Board of Directors&#x2019; Meeting.</div> <!-- Field: Page; Sequence: 224; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Regarding the basis for dividends, the Company believes that the predecessor basis of accounting, as well as its presentation for comparative purposes, will <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> affect the determination of the minimum mandatory dividend. Therefore, the Company intends to adjust the calculation basis of the minimum mandatory dividend to delete any current and future impacts on net income resulting from the adoption of this accounting practice, related to the amortization/depreciation of surplus assets or even a possible impairment of goodwill.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left">Net income, attributable to equity holders of Ambev</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,332.0</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,546.6</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,423.8</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Prescribed dividends</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Reversal effect of revaluation of fixed assets by predecessor</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">75.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">75.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">75.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Retained earnings basis for dividends and destinations</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,442.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,644.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,515.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Dividends and Interest on capital distributed and accrued to distribute based on net income for the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Dividends and Interest on capital paid based on profit</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,612.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,651.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,218.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Dividends approved for distribution</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,099.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,454.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,039.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total of dividends and Interest on capital</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,712.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,106.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,257.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Percentage of distributed profit</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">63</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">72</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">74</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Interest on capital distributed and accrued to distribute based on the investment reserve</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest on capital paid based on the investment reserve</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,770.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total of Interest on capital</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,770.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total of distributed and accrued to distribute</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,482.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,106.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,257.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Percentage of distributed profit</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">114</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">72</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">74</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr>  </table> </div></div><span></span>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801741392">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 22 - Interest-bearing Loans and Borrowings<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22.</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">INTEREST-BEARING LOANS AND BORROWINGS</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Secured bank loans</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">589.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">665.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Unsecured bank loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">413.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">609.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Debentures and unsecured bond issues</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">102.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other unsecured loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">101.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">356.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Financial leasing</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Non-current liabilities</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,231.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,765.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Secured bank loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">879.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,381.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Unsecured bank loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">394.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,910.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Debentures and unsecured bond issues</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">296.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Other unsecured loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Financial leasing</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Current liabilities</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,321.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,630.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Additional information regarding the exposure of the Company to the risks of interest rate and foreign currency are disclosed on Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27</div> &#x2013; <div style="display: inline; font-style: italic;">Financial instruments and risks</div>.</div> <!-- Field: Page; Sequence: 225; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; background-color: white">At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> debts presented the following interest rates:</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Debt instruments</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Average rate %</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Current</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Non-current</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Average rate %</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Current</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Non-current</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 34%; font-size: 10pt; text-align: left">Debt denominated in USD fixed rate</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.83</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.00</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Debt denominated in US dollars floating rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.74</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">78.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">476.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.55</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,508.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">351.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Debt denominated in CAD dollars floating rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.00</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">685.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.62</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,259.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">BNDES basket debt floating rate (UMBNDES)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.70</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Other latin american currency fixed rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.27</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">199.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.86</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">114.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">233.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other latin american currency floating rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.33</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.66</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">TJLP BNDES denominated floating rate (TJLP)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.22</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">165.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">237.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.66</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">216.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">398.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Reais debt - ICMS fixed rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.57</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.13</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">344.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Reais debt - debentures floating rate % CDI</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.63</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Reais debt - fixed rate</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.63</div></td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">147.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">405.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.64</div></td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">423.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">421.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,321.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,231.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,630.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,765.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Terms and debt repayment schedule &#x2013; <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Less than 1 year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">1-2 years</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">2-3 years</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">3-5 years</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">More than 5 years</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 34%; font-size: 10pt; text-align: left">Secured bank loans</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,468.9</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">879.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">253.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">109.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">168.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Unsecured bank loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">808.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">394.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">413.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Debentures and unsecured bond issues</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">102.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">102.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Unsecured other loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">139.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Finance lease liabilities</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,553.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,321.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">724.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">82.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">223.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">201.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Contractual clauses (covenants)</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the Company's loans had equal rights to payment without subordination clauses. Except for the credit lines due to FINAME contracted by the Company with Banco Nacional de Desenvolvimento Econ&ocirc;mico e Social &#x2013; BNDES (&#x201c;BNDES&#x201d;), where collateral were provided on assets acquired with the credit granted which serve as collateral; other loans and financing contracted by the Company predicted only guarantees as personal collateral or are unsecured. The most loan contracts contained financial covenants including:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0; margin-bottom: 12pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify">financial covenants, including limitation on new indebtedness;</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0; margin-bottom: 12pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify">going-concern;</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0; margin-bottom: 12pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify"><div style="display: inline; font-size: 10pt">maintenance, in use or in good condition for the business, of the Company's assets;</div></td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0; margin-bottom: 12pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify"><div style="display: inline; font-size: 10pt">restrictions on acquisitions, mergers, sale or disposal of its assets; </div></td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0; margin-bottom: 12pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify">disclosure of financial statements under Brazilian GAAP and IFRS; and/or</td> </tr>  </table> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0; margin-bottom: 12pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0.25in"></td> <td style="width: 0.25in"><div style="display: inline; font-family: Symbol">&middot;</div></td> <td style="text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> prohibition related to new real guarantees for loans contracted, except if: (i) expressly authorized under the aforementioned loan agreement, (ii) new loans contracted from financial institutions linked to the Brazilian government - including the BNDES or foreign governments; - or foreign governments, multilateral financial institutions (eg World Bank) or located in jurisdictions in which the Company operates;</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <!-- Field: Page; Sequence: 226; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">These clauses apply to the extent that the events mentioned produce material adverse effects on <div style="display: inline; font-size: 10pt">the Company </div>and / or its subsidiaries or the rights of its creditors, and, in the event of any of the events provided in the clauses<div style="display: inline; font-size: 10pt">, it <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>have been granted to the Company a grace period to cure such default.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Additionally, all agreements entered into with the BNDES are subject to certain &#x201c;provisions applicable to agreements entered into with the BNDES&#x201d; (&#x201c;Provisions&#x201d;). Such Provisions require the borrower, to obtain prior consent of BNDES if they, for instance, wish to: (i) raise new loans (except for loans described in the Provisions); (ii) give preference and/or priority to other debts; and/or (iii) dispose of or encumber any item of their fixed assets (except as provided for in the Provisions).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the Company was in compliance with all its contractual obligations for its loans and financings.</div></div><span></span>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6726429424">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 23 - Employee Benefits<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfEmployeeBenefitsExplanatory', window );">Disclosure of employee benefits [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23.</div></div></td> <td><div style="display: inline; font-weight: bold;">EMPLOYEE BENEFITS</div></td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company sponsors pension plans to defined benefit to employees in Brazil and subsidiaries located in the Dominican Republic, Panama, Uruguay, Bolivia and Canada based on employees' salaries and length of service. The entities are governed by local regulations and practices of each individual country as well as the relationship with the Company&#x2019;s pension funds and their composition.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Ambev provides post-employment benefits, including pension benefits and medical and dental care. Post-employment benefits are classified as either defined contribution or defined benefit plans.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The defined benefit plans and the other post-employment benefits are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> granted to new retirees.</div> <!-- Field: Page; Sequence: 227; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Defined contribution plans</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">These plans are funded by the participants and the sponsor, and are managed by administered pension funds. During <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> the Company contributed <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$18.9</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$25.3</div> during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>) to these funds, which were recorded as an expense. Once the contributions have been paid, the Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> further payment obligations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Defined benefit plans</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>the net liability for defined benefit plans consists of the following:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt">Present value of funded obligations</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,027.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,592.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,646.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Fair value of plan assets</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,006.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,845.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,781.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Present value of net obligations</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,021.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(746.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(865.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Present value of unfunded obligations</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(757.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(741.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(756.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Present value of net obligations</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,778.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,488.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,621.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Asset ceiling</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(368.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(532.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(534.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Net liability</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,147.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,020.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,156.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other long term employee benefits</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(105.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(83.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(57.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total employee benefits</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,252.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,104.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,213.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Employee benefits amount in the balance sheet:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,310.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,137.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,221.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Assets</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">58.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Net liabilities</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,252.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,104.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,213.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt">The changes in the present value of the defined benefit obligations were as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Defined benefit obligation at January 1 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">st</div></div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,333.4</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,403.0</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,808.0</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Acquisitions through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(67.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Service cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(38.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(43.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(42.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Interest cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(321.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(320.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(308.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Gains and (losses) on settlements or reductions in benefits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Contributions by plan participants</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Actuarial gains and (losses) - geographical assumptions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">77.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(20.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Actuarial gains and (losses) - financial assumptions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(140.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(321.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">182.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Experience adjustment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(115.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(182.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Exchange differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(306.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">599.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(805.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Benefits paid</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">400.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">416.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">392.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Defined benefit obligation at December, 31</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,785.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,333.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,403.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The present value of funded obligations include <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$762.0</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$683.4</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$494.1</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div>) of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> health care plans for which the benefits are provided directly by Funda&ccedil;&atilde;o Zerrenner. Funda&ccedil;&atilde;o Zerrenner is a legally distinct entity whose main goal is to provide the Company&#x2019;s current and retired employees and managers with health care and dental assistance, technical and superior education courses, maintaining facilities for assisting and helping elderly people, among other things, through direct initiatives or through financial assistance agreements with other entities.</div> <!-- Field: Page; Sequence: 228; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The changes in the fair value of plan assets are as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Fair value of plan assets at January 1 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">st</div></div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,845.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,781.4</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,550.1</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Interest Income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">273.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">274.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">259.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Administrative costs</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Expected Return excluding interest income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(64.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">269.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(173.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Acquisition through business combination</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">73.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Contributions by employer</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">183.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">175.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">107.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Contributions by plan participants</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Exchange differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">166.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(315.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">428.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Benefits paid excluding costs of administration</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(398.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(416.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(392.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Fair value of plan assets at December, 31</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,006.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,845.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,781.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The real return on plan assets generated in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> was a gain of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$208.5</div> (gain of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$544.5</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$86.3</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div>).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the Company recorded <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$58.4</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$33.5</div> at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016) </div>up to the asset ceiling <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> exceeding the present value of future benefits.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The changes in the asset ceiling <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> exceeding the present value of future benefits are as follow:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Asset ceiling impact at January 1 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">st</div></div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.5</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.6</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.8</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Acquisitions through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Interest income/(expenses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Change in asset ceiling excluding amounts included in interest income/(expenses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Effect of exchange rate fluctuations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Asset ceiling impact at December 31</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">58.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The income/(expense) recognized in the income statement with regard to defined benefit plans is detailed as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Current service costs</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(38.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(43.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(42.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Administrative costs</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">(Gains) losses on settlements and curtailments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Income from operations</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(37.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(46.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(44.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Financial cost</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(101.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(105.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(97.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total expense for employee benefits</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(138.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(151.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(142.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 229; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The employee benefit revenue/(expenses) are included in the following line items in the income statement:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt">Cost of sales</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(22.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(24.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Sales and marketing expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Administrative expense</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(17.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Financial expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(101.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(105.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(97.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Exceptional items</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(138.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(151.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(142.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The assumptions used in the calculation of the obligations are as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">2017 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: right">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">2016 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: right">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">2015 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Discount rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.6%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.6%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.9%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.5%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.1%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.1%</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Inflation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.0%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.2%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.2%</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Future salary increases</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.7%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.5%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.8%</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Future pension increases</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.3%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5%</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Medical cost trend rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.9%</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.8%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> a </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.2%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.2%</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">p.a. reducing to 7.9%</div></div></div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">p.a. reducing to 8.2%</div></div></div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">p.a. reducing to 8.2%</div></div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 61%; font-size: 10pt; text-align: left">Dental claims trend rate</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 10%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.3%</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"></td> <td style="width: 1%; font-size: 10pt; text-align: right">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 10%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5%</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"></td> <td style="width: 1%; font-size: 10pt; text-align: right">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 10%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5%</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Life expectation for an over 65 years old male</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">83</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">87</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">80</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">86</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">85</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">70</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Life expectation for an over 65 years old female</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">86</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">89</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">83</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">89</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">88</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">71</div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">(i) Includes assumptions in Latin America &#x2013; North, Latin America &#x2013; South and Canada.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Through its defined benefit pension plans and post-employment medical plans, the Company is exposed to a number of risks, the most significant are detailed below:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">Asset volatility</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The plans liabilities are calculated using a discount rate set with reference to high quality corporate yields; if plan assets underperform this yield, the Company&#x2019;s net defined benefit obligation <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>increase. Most of the Company&#x2019;s funded plans hold a significant proportion of equities, which are expected to outperform corporate bonds in the long-term while providing volatility and risk in the short-term. As the plans mature, the Company usually reduces the level of investment risk by investing more in assets that better match the liabilities.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">Changes in bond yields</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">A decrease in corporate bond yields will increase plan liabilities, although this will be partially offset by an increase in the value of the plans&#x2019; bond holdings.</div> <!-- Field: Page; Sequence: 230; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">Inflation risk</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Some of the Company&#x2019;s pension obligations are linked to inflation, and higher inflation will lead to higher liabilities. The majority of the plan&#x2019;s assets are either unaffected by or loosely correlated with inflation, meaning that an increase in inflation could potentially increase the Company&#x2019;s net benefit obligation.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">Life expectancy</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The majority of the plans&#x2019; obligations are to provide benefits for the life of the member, so increases in life expectancy will result in an increase in the plans&#x2019; liabilities.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; font-weight: bold; text-align: justify">Investment strategy</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In case of funded plans, the Company ensures that the investment positions are managed within an asset-liability matching (ALM) framework that has been developed to achieve long-term investments that are in line with the obligations under the pension schemes. Within this framework, the Company&#x2019;s ALM objective is to match assets to the pension obligations by investing in long-term fixed interest securities with maturities that match the benefit payments as they fall due and in the appropriate currency.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The sensitivity of the defined benefit obligation to changes in the weighted principal assumptions is:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">In millions of Brazilian Reais</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Change in assumption</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Increase in assumption</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Decrease in assumption</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Increase in assumption</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Decrease in assumption</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Increase in assumption</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Decrease in assumption</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: left">Medical cost trend rate</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100 bases points</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(119.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">102.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(104.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">90.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(77.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">67.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left">Discount rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50 bases points</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">289.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(309.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">292.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(311.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">262.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(280.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left">Future salary increase</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50 bases points</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt">Longevity</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">One year</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(180.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">176.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(175.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">172.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(135.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">131.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The data presented in these tables are purely hypothetical and are based on changes in individual assumptions holding all other assumptions constant: economic conditions and changes therein always affect the other assumptions at the same time and its effects are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> linear. Therefore, the above information is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> necessarily a reasonable representation of future results.</div> <!-- Field: Page; Sequence: 231; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The plans assets at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> consist of the following:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Rated</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Unrated</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Rated</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Unrated</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Rated</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Unrated</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: left">Government bonds</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left">Corporate bonds</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left">Equity instruments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt">Property</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt">Cash</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt">Others</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The overall expected rate of return is calculated by weighting the individual rates in accordance with the anticipated share in the total investment portfolio.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Ambev expects to contribute approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$229.3</div> to its defined benefit plans in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2018.</div></div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for employee benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Section Scope<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=sect_Scope&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801961008">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 24 - Share-based Payments<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSharebasedPaymentArrangementsExplanatory', window );">Disclosure of share-based payment arrangements [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24.</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">SHARE-BASED PAYMENTS</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">There are different share-based payment programs and stock option plans which allow the senior management from the Company and its subsidiaries to receive or acquire shares of the Company. For all option plans, the fair value is estimated at grant date, using the Hull binomial pricing model, modified to reflect the IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> requirement that assumptions about forfeiture before the end of the vesting period cannot impact the fair value of the option.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">This current model of share based payment includes <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> types of grants: Grant <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1:</div> the beneficiary <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>choose to allocate <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30%,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40%,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60%,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">70%</div> or <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100%</div> of the amount related to the profit share he received in the year, at the immediate exercise of options, thus acquiring the corresponding shares of the Company, and the delivery of a substantial part of the acquired shares is conditioned to the permanency in the Company for a period of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div>-years from the date of exercise; Grant <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2:</div> the beneficiary <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>exercise the options after a period of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div> years.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Additionally, as a means of creating a long term incentive (wealth incentive) for certain senior employees and members of management considered as having &#x201c;high potential,&#x201d; the Company grant stocks to future delivery to those employees, pursuant to which the beneficiary shall receive <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> separate lots &#x2013; Lot A and Lot B &#x2013; subject to maturation periods of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">ten</div> years, respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In addition, the Company has implemented a Stock Based Payment Plan under which certain employees and members of the management of the Company or its direct or indirect subsidiaries are eligible to receive shares of the Company including in the form of ADR&#x2019;s. The shares that are subject to the Stock Plan are designated as &quot;Restricted Shares&quot; and the restricted share price for the purposes of the stock plan will correspond to the price of the Company's shares on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">B3</div> S.A.- Brasil, Bolsa, Balc&atilde;o, in the trading session immediately prior to the stock concession Restricted.</div> <!-- Field: Page; Sequence: 232; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The weighted average fair value of the options and assumptions used in applying the Ambev option pricing model for the &#x201c;Grant <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2&#x201d;</div> of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> grants are as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-style: italic">In R$, except when otherwise indicated</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 10pt; font-weight: bold"></td> <td><div style="display: inline; font-weight: bold;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 10pt; font-weight: bold"></td> <td><div style="display: inline; font-weight: bold;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 10pt; font-weight: bold"></td> <td><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 73%; font-size: 10pt">Fair value of options granted</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.51</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.21</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.84</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Share price</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.80</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.18</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.41</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Exercise price</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.80</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.18</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.41</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Expected volatility</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27.5</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Vesting year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Expected dividends</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Risk-free interest rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.1</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(ii)</div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.4</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(ii)</div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.9</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(ii)</div></div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">(i)&nbsp;&nbsp;&nbsp; Information based on weighted average plans granted, except for the expected dividends and risk-free interest rate.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(ii) The percentages include the grants of stock options and ADR&#x2019;s during the period, in which the risk-free interest rate of ADR&#x2019;s are calculated in U.S. dollar.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The total number of outstanding options developed as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-style: italic">Thousand options</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Options outstanding at January 1<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">st</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">131,244</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">121,770</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">126,149</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Options issued during the period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,435</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,806</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,568</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Options exercised during the period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13,548</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11,613</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19,975</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Options forfeited during the period</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,910</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,719</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(972</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Options outstanding at ended year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">135,221</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">131,244</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">121,770</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The range of exercise prices of the outstanding options is between <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$0.001</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$0.02</div> as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$0.35</div> as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2015) </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$26.09</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$28.32</div> as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2015 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$26.57</div> as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2015) </div>and the weighted average remaining contractual life is approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.40</div> years (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.96</div> years as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.30</div> years as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2015).</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Of the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">135,221</div> thousand outstanding options (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">131,244</div> thousand as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016), </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40,150</div> thousand options are vested as at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 (</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52,780</div> thousand as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016).</div></div> <!-- Field: Page; Sequence: 233; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The weighted average exercise price of the options is as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-style: italic">In R$ per share</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Options outstanding at January 1 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">st</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.87</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.36</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.07</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Options issued during the period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.82</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.18</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.42</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Options forfeited during the period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.88</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.83</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20.35</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Options exercised during the period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.81</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.52</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.05</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Options outstanding at ended period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.27</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.87</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.36</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Options exercisable at ended period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.78</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.66</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.29</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For the options exercised during <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> the weighted average share price on the exercise date was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$18.87</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$18.41</div> as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016).</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">To settle the exercised stock options, the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>use treasury shares. The current limit of authorized capital is considered sufficient to meet all stock option plans if the issue of new shares is required to meet the grants awarded in the Programs.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">During the period, Ambev issued <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">794</div> thousand (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,329</div> thousand in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>) deferred stock units related to exercise of the options in the model &#x201c;Grant <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1&#x201d;.</div> These deferred stock units are valued at the share price of the day of grant, representing a fair value of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$15.2</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$133,9</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>), and cliff vest after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">five</div> years.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The total number of shares purchased under the plan of shares by employees, whose grant is deferred to a future time under certain conditions (deferred stock), is shown below:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-style: italic">Thousand deferred shares</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt"><div style="display: inline; font-size: 10pt">Deferred shares outstanding at January 1<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">st</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,260</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,056</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,490</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">New deferred shares during the period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">794</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,329</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,692</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Deferred shares granted during the period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,874</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,118</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(804</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Deferred shares forfeited during the period</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(880</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,007</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(322</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Deferred shares outstanding at ended year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,300</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,260</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,056</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Additionally, certain employees and directors of the Company receive options to acquire AB Inbev shares, the compensation cost of which is recognized in the income statement against equity.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">These share-based payments generated an expense of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$236.9</div> in the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 (</div><div style="display: inline; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for share-based payment arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 44<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_44&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 25 - Trade Payables<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTradeAndOtherPayablesExplanatory', window );">Disclosure of trade and other payables [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25.</div></div></td> <td><div style="display: inline; font-weight: bold;">TRADE PAYABLES</div></td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left; padding-bottom: 1pt">Trade payables</td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">175.1</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">237.8</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Non-current</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">175.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">237.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade payables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,418.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,793.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Related Parties</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,435.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,075.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Current</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,854.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,868.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,029.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,106.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of trade and other payables. [Refer: Trade and other payables]</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801837968">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 26 - Provisions<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfProvisionsExplanatory', window );">Disclosure of provisions [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26.</div></div></td> <td><div style="display: inline; font-weight: bold;">PROVISIONS</div></td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">(a) Provision changes </div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Balance as of December 31, 2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Effect of changes in foreign exchange rates</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Additions</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Provisions used and reversed</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Balance as of December 31, 2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; font-size: 10pt; font-weight: bold">Restructuring</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Provision for disputes and litigations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Taxes on sales</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">247.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">113.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(135.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">226.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Income tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">323.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">167.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(336.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">157.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Labor</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">165.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">142.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(176.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">129.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Civil</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">65.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(74.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">146.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">69.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(84.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">125.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total of provision for disputes and litigations</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">926.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">558.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(807.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">673.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total provisions</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">934.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">558.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(807.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">681.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(b)</div></td> <td><div style="display: inline; font-weight: bold;">Disbursement expectative</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Balance as of December 31, 2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">1 year or less</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">1-2 years</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2-5 years</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Over 5 years</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; font-size: 10pt; font-weight: bold">Restructuring</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Provision for disputes and litigations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Taxes on sales</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">226.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">179.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Income tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">157.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Labor</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">129.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">77.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Civil</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">125.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">83.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total of provision for disputes and litigations</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">673.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">161.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">351.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">130.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total provisions</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">681.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">169.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">351.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">131.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <!-- Field: Page; Sequence: 235; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The expected settlement of provisions was based on management&#x2019;s best estimate at the balance sheet date.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Main lawsuits with probable likelihood of loss:</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">(a) Income and Sales taxes</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In Brazil, the Company and its subsidiaries are involved in several administrative and judicial proceedings related to Income tax, ICMS, IPI, PIS and COFINS taxes. Such proceedings include, among others, tax offsets, credits and judicial injunctions exempting tax payment.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">(b) Labor</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company and its subsidiaries are involved in labor proceedings with former employees or former employees of service providers. 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 27 - Financial Instruments and Risks<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialInstrumentsExplanatory', window );">Disclosure of financial instruments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27.</div></div></td> <td><div style="display: inline; font-weight: bold;">FINANCIAL INSTRUMENTS AND RISKS</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Risk factors</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company is exposed to foreign currency<div style="display: inline; font-size: 10pt">, </div>interest rate<div style="display: inline; font-size: 10pt">, </div>commodity price<div style="display: inline; font-size: 10pt">, </div>liquidity and credit risk in the ordinary course of business<div style="display: inline; font-size: 10pt">. The Company </div>analyzes each of these risks both individually and as a whole to define strategies to manage the economic impact on <div style="display: inline; font-size: 10pt">Company&#x2019;s</div> performance consistent with its Financial Risk Management Policy<div style="display: inline; font-size: 10pt">.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company&#x2019;s use of derivatives strictly follows its Financial Risk Management Policy approved by the Board of Directors. The purpose of the policy is to provide guidelines for the management of financial risks inherent to the capital markets in which Ambev carries out its operations. The policy comprises <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">four</div> main aspects: (i) capital structure, financing and liquidity, (ii) transactional risks related to the business, (iii) financial statements translation risks and (iv) credit risks of financial counterparties.</div> <!-- Field: Page; Sequence: 236; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The policy establishes that all the financial assets and liabilities in each country where Ambev operates must be denominated in their respective local currencies. The policy also sets forth the procedures and controls needed for identifying, measuring and minimizing market risks, such as variations in foreign exchange rates, interest rates and commodities (mainly aluminum, wheat, corn and sugar) that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>affect Ambev&#x2019;s revenues, costs and/or investment amounts. The policy states that all the known risks (e.g. foreign currency and interest) shall be hedged by contracting derivative financial instruments. Existing risks <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> yet recorded (e.g. future contracts for the purchase of raw material or property, plant and equipment) shall be mitigated using projections for the period necessary for the Company to adapt to the new costs scenario that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>vary from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">ten</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">fourteen</div> months, also through the use of derivative financial instruments. Most of the translation risks are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> hedged. Any exception to the policy must be approved by the Board of Directors.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Derivative financial Instruments</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-size: 10pt">Derivative financial instruments authorized by the </div>Financial Risk Management Policy <div style="display: inline; font-size: 10pt">are futures contracts traded on exchanges, full deliverable forwards, non-deliverable forwards, swaps and options. At <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the Company and its subsidiaries had <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> target forward, swaps with currency verification or any other derivative operations representing a risk level above the nominal value of their contracts. The derivative operations are classified by strategies according to their purposes, as follows:</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">i) Cash flow hedge derivative instruments &#x2013; The highly probable forecast transactions contracted in order to minimize the Company's exposure to fluctuations of exchange rates and prices of raw materials, investments, equipment and services to be procured, protected by cash flow hedges that shall occur at various different dates during the next <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">fourteen</div> months. Gains and losses classified as hedging reserve in equity are recognized in the income statement in the period or periods when the forecast and hedged transaction affects the income statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">ii) Fair value hedge derivative instruments &#x2013; operations contracted with the purpose of mitigating the Company&#x2019;s net indebtedness against foreign exchange and interest rate risk. Cash net positions and foreign currency debts are continually assessed for identification of new exposures.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The results of these operations, measured according to their fair value, are recognized in financial results.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">iii<div style="display: inline; font-size: 10pt">) Net </div>investment hedge <div style="display: inline; font-size: 10pt">derivative instruments &#x2013;</div> transactions entered into in order to minimize exposure of the exchange differences arising from conversion of net investment in the Company's subsidiaries located abroad for translation account balance<div style="display: inline; font-size: 10pt">. The effective p</div>ortion <div style="display: inline; font-size: 10pt">of the </div>hedge is allocated to <div style="display: inline; font-size: 10pt">equity </div>and the ineffectiveness <div style="display: inline; font-size: 10pt">portion </div>is recorded directly in financial results.</div> <!-- Field: Page; Sequence: 237; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The following tables summarize the exposure of the Company that were identified and protected in accordance with the Company's Risk Policy. The following denominations have been applied:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Operational Hedge: Refers to the exposures arising from the core business of Ambev, such as: purchase of inputs, purchase of fixed assets and service contracts linked to foreign currency, which is protected through the use of derivatives.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Financial Hedge: Refers to the exposures arising from cash and financing activities, such as: foreign currency cash and foreign currency debt, which is protected through the use of derivatives.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Investment hedge in foreign operations: Refers mainly to exposures arising from cash hold in foreign currency in foreign subsidiaries whose functional currency is different from the consolidation currency.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Investment hedge - <div style="display: inline; color: black">Put option granted on subsidiary</div>: As detailed in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">d.4</div>) the Company constituted a liability related to acquisition of Non-controlling interest in the Dominican Republic operations. This financial instrument is denominated in Dominican Pesos and is recorded in a Company which functional currency is the Real. The Company assigned this financial instrument as a hedging instrument for part of its net assets located in the Dominican Republic, in such manner the hedge result can be recorded in other comprehensive income of the group, following the result of the hedged item.</div> <!-- Field: Page; Sequence: 238; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Transactions protected by derivative financial instruments in accordance with the Financial Risk Management Policy</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td colspan="2" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">2017</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td colspan="2" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Fair Value</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Gain / (Losses)</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Exposure</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Risk</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Notional</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Assets</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Liability</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Finance Result</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Operational Result</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Equity</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="width: 17%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Cost</div></td> <td style="width: 1%"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 15%"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(9,742.3</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold">)<div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">9,318.9</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">283.6</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(190.0</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(563.5</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(200.2</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">584.8</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Commodity</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2,378.7</div></div></td> <td style="font-size: 10pt">)<div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,955.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">166.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(70.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">103.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(4.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(6,879.1</div></div></td> <td style="font-size: 10pt">)<div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">6,879.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">86.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(93.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(556.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(331.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">630.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Euro</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(82.9</div></div></td> <td style="font-size: 10pt">)<div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">82.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(4.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">6.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Mexican Pesos</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(401.6</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">401.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">27.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(25.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">27.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(47.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">Fixed Assets</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(579.5</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">579.5</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1.9</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(10.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.9</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(531.9</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">531.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(10.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Euro</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(47.6</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">47.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Expenses</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(177.7</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt"></div>)</td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">177.7</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.5</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2.9</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.9</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(169.2</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">169.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">2.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Rupee</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(8.5</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">8.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Cash</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,328.3</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,328.3</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(13.1</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(266.0</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,313.3</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,313.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(13.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(266.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Interest rate</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(15.0</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">15.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Debts</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(919.5</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">356.9</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">30.0</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(67.5</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(562.6</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(76.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Interest rate</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(356.9</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">356.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">30.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">8.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">Equity Instrument</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2,347.9</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">677.0</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">69.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">67.0</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left; padding-bottom: 1pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Stock Exchange Prices</div></div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2,347.9</div></div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">677.0</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">69.2</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">67.0</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">As of December 31, 2017</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(15,095.2</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12,438.3</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">385.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(217.5</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(834.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(196.3</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">586.6</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <!-- Field: Page; Sequence: 239; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td colspan="3" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">2016</div></td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td colspan="3" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Fair Value</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Gain / (Losses)</div></td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Exposure</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Risk</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Notional</div></td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Assets</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Liability</div></td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Finance Result</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Operational Result</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Equity</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 17%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Cost</div></td> <td style="width: 1%"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 15%"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(8,807.6</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">8,624.1</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">190.7</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(582.8</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,397.5</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">737.4</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(873.3</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Commodity</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,742.8</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,559.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">136.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(43.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(5.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(97.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">90.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(6,566.9</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">6,566.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">36.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(491.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,392.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">782.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(909.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Euro</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(135.2</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">135.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(4.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">56.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(42.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Mexican Pesos</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(359.2</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">359.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">18.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(43.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(4.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(13.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Brazilian Real</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3.5</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Fixed Assets</div></div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(523.1</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">523.1</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.0</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(76.1</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(187.0</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(430.3</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">430.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(5.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(119.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Euro</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(92.8</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">92.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(70.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(68.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Expenses</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(103.7</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">103.7</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.1</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">47.6</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">5.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(134.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(90.9</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">90.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">5.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(29.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Euro</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Canadian Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">50.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(106.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Rupee</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(12.8</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Cash</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,043.8</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,043.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">7.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3.7</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">592.3</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(592.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">7.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(55.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Euro</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">51.5</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(51.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">11.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Interest rate</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">400.0</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(400.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">40.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Debts</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2,547.9</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">2,000.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">18.4</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(61.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(50.7</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,874.2</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,326.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">2.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(48.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(28.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Interest rate</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(673.7</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">673.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">15.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(12.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(22.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">Foreign Investments</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">35.4</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">37.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Euro</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Canadian Dollar</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.3</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3.5</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">As of December 31, 2016</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(10,938.5</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">10,207.3</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">212.9</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(713.4</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,592.5</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">743.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(972.1</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <!-- Field: Page; Sequence: 240; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; text-align: left"><div style="display: inline; font-weight: bold;">I.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Market risk</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">&nbsp;</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">a.1</div>) Foreign currency risk</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company <div style="display: inline; font-size: 10pt">is exposed to foreign currency risk on borrowings, investments, purchases, dividends and/or interest expense/income whenever they are denominated in a currency other than the functional currency of the subsidiary. The main derivatives financial instruments used to manage foreign currency risk are futures contracts, swaps, options, non deliverable forwards and full deliverable forwards.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">a.2</div>) Commodity Risk</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">A significant portion of the Company inputs comprises commodities, which historically have experienced substantial price fluctuations. The Company therefore uses both fixed price purchasing contracts and derivative financial instruments to minimize its exposure to commodity price volatility. The Company has important exposures to the following commodities: aluminum, sugar, wheat and corn. These derivative financial instruments have been designated as cash flow hedges.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">a.3</div>) Interest rate risk</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company applies a dynamic interest rate hedging approach whereby the target mix between fixed and floating rate debt is reviewed periodically. The purpose of the Company&#x2019;s policy is to achieve an optimal balance between cost of funding and volatility of financial results, taking into account market conditions as well as the Company&#x2019;s overall business strategy and this strategy is reviewed periodically.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The table below demonstrates the Company&#x2019;s exposure related to debts, before and after interest rates hedging strategy.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Pre - Hedge</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Post - Hedge</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Interest rate</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Amount</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Interest rate</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Amount</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; text-align: left">Brazilian Real</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">402.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">714.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">American Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">555.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">555.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Canadian Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">685.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">685.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Barbadian Dollar</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.3</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.3</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Interest rate postfixed</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,648.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,960.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Brazilian Real</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.4</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">682.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.9</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">370.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Working Capital in Argentinean Peso</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Dominican Peso</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.3</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">188.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.3</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">188.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">American Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.8</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.8</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Guatemala&acute;s Quetzal</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.8</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.8</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Interest rate pre-set</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">906.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">594.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <!-- Field: Page; Sequence: 241; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Pre - Hedge</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Post - Hedge</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Interest rate</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Amount</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Interest rate</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Amount</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; text-align: left">Brazilian Real</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">667.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,375.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">American Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.5</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,882.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.2</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">565.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Canadian Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,259.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,259.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Barbadian Dollar</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Interest rate postfixed</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,814.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,205.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Brazilian Real</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.8</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,223.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.2</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">841.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Dominican Peso</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">288.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">288.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">American Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Guatemala&acute;s Quetzal</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Barbadian Dollar</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.3</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">48.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.3</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">48.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Interest rate pre-set</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,582.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,191.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Sensitivity analysis</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company mitigates risks arising from non-derivative financial assets and liabilities substantially, through derivative financial instruments. In this context, the Company has identified the main risk factors that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>generate losses from these derivative financial instruments and has developed a sensitivity analysis based on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> scenarios, which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>impact the Company&#x2019;s future results and/or cash flow, as described below:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> &#x2013; Probable scenario: Management expectations of deterioration in each transaction&#x2019;s main risk factor. To measure the possible effects on the results of derivative transactions, the Company uses parametric Value at Risk &#x2013; VaR. is a statistical measure developed through estimates of standard deviation and correlation between the returns of several risk factors. This model results in the loss limit expected for an asset over a certain time period and confidence interval. Under this methodology, we used the potential exposure of each financial instrument, a range of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95%</div> and horizon of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21</div> days after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>for the calculation, which are presented in the module.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> &#x2013; Adverse scenario: <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25%</div> deterioration in each transaction&#x2019;s main risk factor as compared to the level observed on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> &#x2013; Remote scenario: <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50%</div> deterioration in each transaction&#x2019;s main risk factor as compared to the level observed on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017.</div></div> <!-- Field: Page; Sequence: 242; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="text-align: right; vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; text-align: left; vertical-align: bottom"><div style="display: inline; font-size: 10pt">Transaction</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: left; vertical-align: bottom"><div style="display: inline; font-size: 10pt">Risk</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Fair value</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Probable scenario</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Adverse scenario</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Remote<br /> scenario</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Commodities hedge</div></td> <td style="width: 1%; font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="width: 12%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Decrease on commodities price</div></div></td> <td style="width: 1%; font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">95.8</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(70.6</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%; font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(392.9</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%; font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(881.7</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Input purchase</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(95.8</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">108.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">498.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,093.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Foreign exchange hedge</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Foreign currency decrease</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(105.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,843.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3,684.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Input purchase</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">2.2</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">105.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,843.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3,684.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Costs effects</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">38.1</div></div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">105.9</div></div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">211.8</div></div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Foreign exchange hedge</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Foreign currency decrease</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(8.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(16.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(153.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(298.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Capex Purchase</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">8.9</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">16.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">153.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">298.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">Fixed assets effects</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Foreign exchange hedge</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Foreign currency decrease</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(45.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(90.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">Expenses</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1.3</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">45.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">90.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">Expenses effects</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Hedge cambial</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Foreign currency increase</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(13.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(37.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(341.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(669.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">Cash</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">13.1</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">37.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">341.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">669.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Interest Hedge</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Decrease in interest rate</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Interest revenue</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">2.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">Cash effects</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Hedge cambial</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Foreign currency decrease</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">Cash</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">9.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">140.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">281.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Interest Hedge</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Increase in interest rate</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">28.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">18.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(131.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(162.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Interest expenses</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(28.2</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(18.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">131.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">162.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">Debt effects</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">9.7</div></div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">140.6</div></div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">281.3</div></div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Equity Instrument Hedge</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Stock Exchange Price Decrease</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">69.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">54.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(100.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(269.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">Expenses</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(69.2</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(19.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">517.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,104.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">Equity effects</div></td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">34.9</div></div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">417.7</div></div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">835.5</div></div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">82.7</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">664.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,328.6</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 243; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>the Notional and Fair Value amounts per instrument and maturity were as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Notional Value</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Exposure</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Risk</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&gt; 2021</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; font-size: 10pt; font-weight: bold">Cost</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 12%; font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,219.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">99.7</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,318.9</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Commodity</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,859.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">96.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,955.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,879.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,879.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Euro</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">82.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">82.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mexican Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">398.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">401.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Fixed asset</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">579.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">579.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">531.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">531.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Euro</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">177.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">177.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">169.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">169.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Rupee</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Cash</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,313.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,328.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,313.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,313.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest rate</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Debt</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">110.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">246.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">356.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest rate</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">110.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">246.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">356.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Foreign Investments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">677.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">677.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">677.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">677.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,966.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">99.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">110.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">246.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,438.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <!-- Field: Page; Sequence: 244; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fair Value</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Exposure</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Risk</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&gt; 2021</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; font-size: 10pt; font-weight: bold">Cost</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 12%; font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">89.0</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.6</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">93.6</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Commodity</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Euro</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mexican Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Fixed asset</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Euro</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Rupee</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Cash</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest rate</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Debt</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest rate</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Equity Instrument</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">69.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">69.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Stock prices</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">69.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">69.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">134.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">167.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; text-align: left"><div style="display: inline; font-weight: bold;">II.&nbsp;&nbsp;&nbsp;&nbsp; Credit Risk</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Concentration of credit risk on trade receivables</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">A substantial part of the Company&#x2019;s sales is made to distributors, supermarkets and retailers, within a broad distribution network. Credit risk is reduced because of the widespread number of customers and control procedures used to monitor risk. Historically, the Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> experienced significant losses on receivables from customers.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic;">Concentration of credit risk on counterpart</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In order to minimize the credit risk of its investments, the Company has adopted procedures for the allocation of cash and investments, taking into consideration limits and credit analysis of financial institutions, avoiding credit concentration, i.e., the credit risk is monitored and minimized to the extent that negotiations are carried out only with a select group of highly rated counterparties.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The selection process of financial institutions authorized to operate as the Company&#x2019;s counterparty is set forth in our Credit Risk Policy. This Credit Risk Policy establishes maximum limits of exposure to each counterparty based on the risk rating and on each counterparty's capitalization.</div> <!-- Field: Page; Sequence: 245; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In order to minimize the risk of credit with its counterparties on significant derivative transactions, the Company has adopted bilateral &#x201c;trigger&#x201d; clauses. According to these clauses, where the fair value of an operation exceeds a percentage of its notional value (generally between <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10%</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15%</div>), the debtor settles the difference in favor of the creditor.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 57.75pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>the Company held its main short-term investments with the following financial institutions: Banco do Brasil, Bradesco, Bank Mendes Gans, Caixa Econ&ocirc;mica Federal, Citibank, Ita&uacute;, JP Morgan Chase, Merrill Lynch, Santander e Toronto Dominion Bank. The Company had derivative agreements with the following financial institutions: Banco Bisa, Barclays, BNB, BNP Paribas, Bradesco, Bank Mendes Gans, Citibank, Deutsche Bank, Ita&uacute;, Goldman Sachs, JP Morgan Chase, Macquarie, Merrill Lynch, Morgan Stanley, Santander, ScotiaBank e TD Securities.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The carrying amount of cash and cash equivalents, investment securities, trade receivables excluding prepaid expenses, recoverable taxes and derivative financial instruments are disclosed net of provisions for impairment and represents the maximum exposure of credit risk as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017. </div>There was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> concentration of credit risk with any counterparties as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; text-align: left"><div style="display: inline; font-weight: bold;">III.&nbsp;&nbsp;&nbsp;&nbsp; Liquidity Risk</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company believes that cash flows from operating activities<div style="display: inline; font-size: 10pt">, </div>cash and cash equivalents and short-term investments<div style="display: inline; font-size: 10pt">, together </div>with the derivative <div style="display: inline; font-size: 10pt">financial </div>instruments and access to loan facilities <div style="display: inline; font-size: 10pt">are</div> sufficient to finance capital expenditures<div style="display: inline; font-size: 10pt">, </div>financial liabilities and dividend payments in the future<div style="display: inline; font-size: 10pt">.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; text-align: left"><div style="display: inline; font-weight: bold;">IV.&nbsp;&nbsp;&nbsp;&nbsp; Equity price risk</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Through the equity swap transaction approved on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> May </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16th,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> and altered in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21th,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> by the Board of Directors of Ambev (see Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> - <div style="display: inline; font-style: italic;">Corporate information</div>) , the Company, or its subsidiaries, will receive the price variation related to its shares traded on the stock exchange or ADRs, neutralizing the possible effects of the stock prices&#x2019; oscillation in view of the share-based payment of the Company. As these derivative instruments are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> characterized as hedge accounting they were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> therefore designated to any hedge.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2017, </div>an exposure equivalent to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$2.3</div> billion in AmBev&#x2019;s shares (or ADR&#x2019;s) was partially hedged, resulting in a gain in income statement of R$ <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">67.0.</div></div> <!-- Field: Page; Sequence: 246; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; text-align: left"><div style="display: inline; font-weight: bold;">V.&nbsp;&nbsp;&nbsp;&nbsp; Capital management</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Ambev is continuously optimizing its capital structure targeting to maximize shareholder value while keeping the desired financial flexibility to execute the strategic projects. Besides the statutory minimum equity funding requirements that apply to the Company&#x2019;s subsidiaries in the different countries, Ambev is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> subject to any externally imposed capital requirements. When analyzing its capital structure, the Company uses the same debt ratings and capital classifications as applied in the Company&#x2019;s financial statements.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Financial instruments</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">(a) Financial instruments categories</div></div> <div style=" margin: 0pt 0 0pt 0.5in; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Management of the financial instruments held by the Company is <div style="display: inline; font-size: 10pt">effected through </div>operational strategies and internal controls to assure liquidity, profitability and transaction security<div style="display: inline; font-size: 10pt">. </div>Financial instruments <div style="display: inline; font-size: 10pt">transactions are </div>regularly reviewed <div style="display: inline; font-size: 10pt">for the effectiveness </div>of <div style="display: inline; font-size: 10pt">the </div>risk exposure that management intends to cover (foreign exchange, interest rate, <div style="display: inline; font-size: 10pt">etc.).</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The table below shows all financial instruments recognized in the financial statements, <div style="display: inline; font-size: 10pt">segregated </div>by category<div style="display: inline; font-size: 10pt">:</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Loans and receivables</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Held for trading</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Financial assets/liabilities at fair value through profit or loss</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Derivatives hedge</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Financial liabilities through amortized cost</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Financial assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 34%; font-size: 10pt; text-align: left">Cash and cash equivalents</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,354.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,354.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Investment securities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">122.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">133.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade receivables excluding prepaid expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,505.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,505.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Financial instruments derivatives</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">285.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">385.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,859.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">122.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">112.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">285.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,378.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Financial liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trade payables and put option granted on subsidiary and other liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,764.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,502.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,266.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Financial instruments derivatives</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">201.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">217.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest-bearning loans and borrowings</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,553.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,553.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,780.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">201.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,055.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,036.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <!-- Field: Page; Sequence: 247; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Loans and receivables</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Held for trading</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Financial assets/liabilities at fair value through profit or loss</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Derivatives hedge</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Financial liabilities through amortized cost</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Financial assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 34%; font-size: 10pt; text-align: left">Cash and cash equivalents</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,876.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,876.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Investment securities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">282.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">387.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade receivables excluding prepaid expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,962.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,962.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Financial instruments derivatives</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">194.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">212.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,839.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">301.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">194.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,439.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Financial liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trade payables and put option granted on subsidiary and other liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,106.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,208.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,314.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Financial instruments derivatives</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">49.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">663.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">713.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest-bearning loans and borrowings</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,396.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,396.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,156.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">663.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,604.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,423.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">(b) Classification of financial instruments by type of fair value measurement</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13</div> defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Also pursuant to IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,</div> financial instruments measured at fair value shall be classified within the following categories<div style="display: inline; background-color: white">:</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; background-color: white">Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> &#x2013; quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date valuation;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; background-color: white">Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div> &#x2013; inputs other than quoted prices included within Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> that are observable for the asset or liability, either directly or indirectly; and</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; background-color: white">Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> &#x2013; unobservable inputs for the asset or liability.</div></div> <!-- Field: Page; Sequence: 248; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; background-color: white"></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 1</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 2</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 3</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Total</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 1</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 2</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 3</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Total</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-decoration: underline; text-align: left">Financial assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="width: 12%; font-size: 10pt; text-align: left">Financial asset at fair value through profit or loss</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.9</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.9</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">282.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">282.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left">Derivatives assets at fair value through profit or loss</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Derivatives - operational hedge</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">280.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">285.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">83.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">110.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">194.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">380.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">397.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">369.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">126.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">495.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-decoration: underline; text-align: left">Financial liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Financial liabilities at fair value through profit and loss <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,764.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,764.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,106.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,106.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left">Derivatives liabilities at fair value through profit or loss</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">49.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left">Derivatives - operational hedge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">58.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">143.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">201.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">78.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">575.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">654.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Derivatives - fair value hedge</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">157.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,764.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,981.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">88.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">624.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,106.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,819.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) Refers to the put option granted on subsidiary as described in Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21</div> d(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div>).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Reconciliation of changes in the categorization of Level <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 87%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Financial liabilities at December 31, 2016 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,106.1</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-indent: 9pt">Acquisition of investments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total gains and losses in the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">650.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 9pt">Losses recognized in net income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">359.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 9pt">Losses recognized in equity</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">291.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Financial liabilities at December 31, 2017 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,764.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) The liability was recorded under &#x201c;Trade payables and put option granted on subsidiary and other liabilities&#x201d; on the balance sheet.</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">(c) Fair value of financial liabilities measured at amortized cost</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company&#x2019;s liabilities, interest-bearing loans and borrowings, trade payables excluding tax payables, are recorded at amortized cost according to the effective rate method, plus indexation and foreign exchange gains/losses, based on closing indices for each exercise.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The financial instruments recorded at amortized cost are similar to the fair value and are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> material for disclosure.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Calculation of fair value of derivatives</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company measures derivative financial instruments by calculating their present value, through the use of market curves that impact the instrument on the computation dates. In the case of swaps, both the asset and the liability positions are estimated independently and brought to present value, where the difference between the result of the asset and liability amount generates the swaps market value. For the traded derivative financial instruments, the fair value is calculated according to the adjusted exchange-listed price.</div> <!-- Field: Page; Sequence: 249; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Margins given in guarantee</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In order to comply with the guarantee requirements of the derivative exchanges and/or counterparties in certain operations with derivative financial instruments, as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>the Company held <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$608.3</div> in highly liquid financial investments or in cash, classified as cash and cash equivalents and investment securities (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$486.8</div> on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016).</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Offsetting of financial assets and liabilities</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For financial assets and liabilities subject to settlement agreements by the net or similar agreements, each agreement between the Company and the counterparty allows this type of settlement when both parties make this option. In the absence of such election, the assets and liabilities will be settled by their amounts, but each party shall have the option to settle on net, in case of default by the counterparty.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for financial instruments.</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 28 - Operating Leases<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfLeasesExplanatory', window );">Disclosure of leases [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style=" margin: 0pt 0 0pt 21.3pt; font-size: 10pt; text-align: justify; text-indent: -21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28.</div>&nbsp;&nbsp;&nbsp; OPERATING LEASES</div></div> <div style=" margin: 0pt 0 0pt 21.3pt; font-size: 10pt; text-align: justify; text-indent: -21.3pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.85pt">The Company primarily leases warehouses and offices.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.85pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.85pt">The future contractual values mature as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.85pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Less than 1 year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Between 1 and 5 years</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">129.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">61.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">More than 5 years</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">71.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">66.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">236.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">154.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.85pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> the operating lease expense in the income statement amounted to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$39.0</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$43.4</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$58.7</div> in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> respectively).</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2019-01-01<br> -Name IAS<br> -Number 17<br> -IssueDate 2017-01-01<br> -Section Leases in the financial statements of lessees<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=17&amp;date=2017-03-02&amp;anchor=sect_Leasesinthefinancialstatementsoflessees&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2019-01-01<br> -Name IAS<br> -Number 17<br> -IssueDate 2017-01-01<br> -Section Leases in the financial statements of lessors<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=17&amp;date=2017-03-02&amp;anchor=sect_Leasesinthefinancialstatementsoflessors&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2019-01-01<br> -Name IFRS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Section Presentation<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=16&amp;date=2017-03-01&amp;anchor=sect_Presentation&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2019-01-01<br> -Name IFRS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=16&amp;date=2017-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6824516864">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 29 - Collateral and Contractual Commitments with Suppliers, Advances From Customers and Other<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfCollateralAndContractualCommitmentsWithSuppliersAdvancesFromCustomersAndOtherTextBlock', window );">Disclosure of collateral and contractual commitments with suppliers, advances from customers and other [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">COLLATERAL AND CONTRACTUAL COMMITMENTS WITH SUPLLIERS, ADVANCES FROM CUSTOMERS AND OTHER</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Collateral given for own liabilities</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,051.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other commitments</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">842.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">754.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,449.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,805.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Commitments with suppliers <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,096.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,019.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Commitments - Bond 2017</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">300.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,096.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,319.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) <div style="display: inline; color: black">Variation refers, mainly, a new contracts with a new suppliers of aluminum in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017.</div> </div></div> <!-- Field: Page; Sequence: 250; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; color: black"></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The collateral provided for liabilities totaled approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$1,449.0</div> as at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 (</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$1,805.8</div> as at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016), </div>including <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$551.0</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$571.3</div> as at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016) </div>of cash guarantees. The deposits in cash used as guarantees are presented as part of other assets. To meet the guarantees required by derivative exchanges and/or counterparties contracted in certain derivative financial instrument transactions, Ambev maintained as at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$606.3</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$486.8</div> as at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016) </div>in highly liquid financial investments or in cash, classified as cash and cash equivalents and investment securities (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27</div> &#x2013; <div style="display: inline; font-style: italic;">Financial instruments and risks</div>).</div> <div style=" font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Most of the balance relates to commitments with suppliers of packaging.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; background-color: white">Future contractual commitments as at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> are as follows:</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Less than 1 year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,812.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,325.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Between 1 and 2 years</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,995.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">420.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">More than 2 years</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,287.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">572.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,096.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,319.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div></div><span></span>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801876064">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 30 - Contingent Liability<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfContingentLiabilitiesExplanatory', window );">Disclosure of contingent liabilities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30.</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">CONTINGENT LIABILITY</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" color: #666666; font-size: 10pt; text-align: justify; margin: 0pt 0"><div style="display: inline; color: windowtext">The Company has contingent liabilities arising from lawsuits in the normal course of its business. </div><div style="display: inline; color: #0D0E00; background-color: white">Due to their nature, such legal proceedings involve inherent uncertainties including, but <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> limited to, court and tribunals rulings, negotiations between affected parties and governmental actions, and as a consequence the Company&#x2019;s management cannot at this stage estimate the likely timing of the resolution of these matters. </div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Contingent liabilities with a probable likelihood of loss are fully recorded as liabilities (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26</div> &#x2013; <div style="display: inline; font-style: italic;">Provisions</div>).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company also has lawsuits related to tax, civil and labor, for which the likelihood of loss classified by management as possible and for which there are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> provisions. Estimates of amounts of possible losses are as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">IRPJ and CSLL</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,757.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,934.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">PIS and COFINS</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,485.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,971.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">ICMS and IPI</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,805.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,046.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Labor</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">287.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">222.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Civil</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,071.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,417.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,113.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">858.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60,520.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52,450.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <!-- Field: Page; Sequence: 251; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Principal lawsuits with a likelihood of possible loss:</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Brazilian Federal Taxes</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Special goodwill reserve</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2011, </div>the Company received a tax assessment related to the goodwill amortization resulting from Inbev Holding Brasil S.A. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November 2014 </div>the Lower Administrative Court concluded the judgment. The decision was partly favorable, Ambev presented a motion to clarify the decision to the Administrative Court. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 2016, </div>this motion was partially admitted and Ambev was formally notified of said decision in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2018. </div>As the decision of the Administrative Council of Tax Appeals (&#x201c;CARF&#x201d;) remained partially favorable, Ambev will file a judicial proceeding to discuss the unfavorable part of the decision and received a favorable decision in the injuctionand the remaining portion will still be submitted for reconsideration by the Administrative Upper Court.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 2016, </div>Ambev received tax assessment charging the remaining value of the goodwill amortization, related to InBev B Holding Brasil S.A&#x2019;s merger with Ambev, from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2011</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2013.</div> In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 2017, </div>Ambev was notified of the partially favorable <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> level administrative decision on this tax assessment and filed an appeal to Lower Administrative Court.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Ambev management estimates possible losses in relation to the total amortization period (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2005</div>-<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2013</div>) to be approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$8.3</div> billion (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$7.8</div> billion as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2016), </div>classified as possible loss, and, therefore, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> provision was made by the Company in this matter. In the event Ambev is required to pay these amounts, AB Inbev will reimburse Ambev the amount proportional (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">70%</div>) to the benefit received by the company pursuant to the merger protocol, as well as the related costs. </div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">Goodwill BAH</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 2013, </div>we also received a tax assessment related to the goodwill amortization resulting from the merger of Beverage Associates Holding Limited (&#x201c;BAH&#x201d;) into Ambev. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2014, </div>Ambev filed an appeal against the unfavorable <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> level administrative decision published in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November 2014. </div>In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 2017, </div>Lower Administrative Court concluded the judgment to send the case back to the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> level administrative judgment due to processual matters. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July 2017, </div>Ambev was notified of the revised <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> level decision and filed a new Voluntary Appeal. The possible risk amount is approximately R$ <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6</div> billion (R$ <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.5</div> billion as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016). </div>There was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> provision made on the matter.</div> <!-- Field: Page; Sequence: 252; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">Goodwill CND Holdings</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> November 2017, </div>Ambev received a tax assessment related to the amortized goodwill related to the merger of CND Holdings into Ambev. Ambev filed a defense at the legal term and awaits judgment by the Federal Revenue Service (&#x201c;DRJ&#x201d;). The possible risk amount is approximately R$ <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1</div> billion. There was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> provision made on the matter.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">Profits earned abroad</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">During the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2005,</div> certain of our subsidiaries received a number of assessments from the RFB relating to profits obtained by subsidiaries domiciled abroad. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2008, </div>the Administrative Court handed down a decision on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> of the tax assessments relating to earnings of our foreign subsidiaries. This decision was partially favorable to us, and in connection with the remaining part, we filed an appeal to the Appellate Division of the Administrative Court which was finally dismissed in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 2017. </div>In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 2017, </div>Ambev filed a court order to discuss the matter with an injunction granted in favor of the Company.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2013, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 2017, </div>the Company received tax assessments related to the matter. We have <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> recorded any provision in connection with those assessments. We estimate our exposure to possible losses in relation to these assessments to be <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$6.1billion</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$4.9</div> billion at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016) </div>and to probable losses to be <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$44.2</div> million as of that date, for which we have recorded a provision in the corresponding amount (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$41.6</div> million at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016).</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Utilization of tax loss on mergers</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company and its subsidiaries have received tax assessments from the Brazilian Tax authorities, from certain tax credits arising from alleged non-compliance with the Brazilian tax regulation concerning accumulated tax losses by companies in their final year of existence, following a merger.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 2016, </div>Ambev was notified of the closure of the administrative phase and filed lawsuits to discuss the matter. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 2016, </div>Ambev received the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> favorable court decision. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 2017, </div>Ambev received an unfavorable decision in the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> judicial instance in the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">second</div> case under discussion in the judiciary and filed an Appeal.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">No</div> provisions have been made for these cases as Ambev believes that there are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> express legal grounds that limit the use of tax losses in cases where legal entities are extinguished (including in the case of mergers), and therefore the tax inspector&#x2019;s interpretation in these tax assessments does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> apply.</div> <!-- Field: Page; Sequence: 253; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company estimates the possible exposure to losses on these assessments at approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$549.4</div> million (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$522.9</div> million at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016).</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">Disallowance of Expenses and Deductible Losses</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2014, </div>Ambev received a tax assessment from the Brazilian Federal Tax Authorities related to the disallowance of alleged non-deductible expenses and the deduction of certain losses mainly associated to financial investments and loans, in the amount of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$1.3</div> billion. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> August 2017, </div>the Administrative Council of Tax Appeals (&quot;CARF&quot;) concluded the judgment fully favorable to Ambev and, in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2017, </div>Ambev was notified of said decision, as well as of the manifestation from the fiscal authority informing the non-interposition of appeal and the permanent discontinuance of the case.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2015 </div>and in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2016, </div>Ambev also received other tax assessments related to the same matter. Ambev Management estimates the amount of possible losses in relation to this assessment to be approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$4.4</div> billion as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$5.6</div> billion as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December&nbsp;</div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div>).</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">Disallowance of taxes paid abroad</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Since <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014,</div> Ambev has been receiving tax assessments from the Brazilian Federal Tax Authorities related to the disallowance of deductions associated with alleged unproven taxes paid abroad.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company filed a defense for all cases and awaits a decision in the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> instance for the cases received in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div> and by the Administrative Court Management for the others.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September, 2017, </div>Ambev opted to include part of these tax assessments in the Special Tax Regularization Program established by the Provisional Measure n&ordm;. <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">783</div> (&#x201c;PERT&#x201d;). Ambev management estimates an amount of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$7.2</div> billion (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$2.8</div> billion as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016) </div>as possible loss.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">Presumed Profit</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> April 2016, </div>Arosuco (subsidiary of Ambev) received a tax assessment regarding the use of Presumed Profit Method for the calculation of income tax and the social contribution on net profit instead of Real Profit method. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September, 2017, </div>Arosuco was notified of the unfavorable <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> level administrative decision and filed Voluntary Appeal. Arosuco management estimates the amount of possible losses in relation to this assessment to be approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$616.1</div> million (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$569.6</div> billion as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016).</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <!-- Field: Page; Sequence: 254; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2016, </div>CRBS (a subsidiary of Ambev) received a tax assessment regarding the use of Presumed Profit Method for the calculation of income tax and social contribution on net profit instead of the Real Profit method. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> July 2017, </div>CRBS received an unfavorable decision at the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">first</div> administrative instance and filed a Voluntary Appeal. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> September 2017, </div>the Company opted to include this tax assessment in the Special Tax Regularization Program established by Provisional Measure n&ordm;. <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">783</div> (&#x201c;PERT&#x201d;). There are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> loss amounts related to this matter as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 (</div>R $ <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.6</div> billion as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016).</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">PIS and COFINS</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">PIS/COFINS over bonus products</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Since <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> Ambev has been receiving tax assessments issued by the Brazilian federal tax authorities, relating to amounts allegedly due under Integration Programme/Social Security Financing Levy (PIS/COFINS) over bonus products granted to its customers. The cases are now being discussed at Courts. Ambev management estimates the possible losses related to these assessments to be approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$3.1</div> billion (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$1.5</div> billion as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2016).</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">ICMS and IPI</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">ICMS-ST Unconditional Discounts</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Ambev has been party to legal proceedings with the State of Rio de Janeiro where it is challenging such State&#x2019;s attempt to assess ICMS Value-Added Tax with respect to unconditional discounts granted by Ambev from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 1996 </div>to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> February 1998. </div>In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> October 2015 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2016, </div>Ambev decided pay the debts related to the assessments issued by the State of Rio de Janeiro under an incentive tax payment, in the total amount of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$271</div> million. In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2013,</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> Ambev has been receiving similar tax assessments with the States of Par&aacute; and Piau&iacute;. The Company filed a defense for this cases and currently awaits a decision. After the payments to the State of Rio de Janeiro, Ambev management estimates the amount involved in these proceedings to be approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$599.7</div> million (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$559.5</div> million as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2016), </div>classified as possible loss.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">ICMS fiscal war</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Ambev is currently challenging tax assessments from the States of S&atilde;o Paulo, Rio de Janeiro, Minas Gerais and other States, which question the legality of tax credits arising from existing tax incentives received in other States. Ambev management estimates the possible losses related to these assessments to be approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$1.9</div> billion (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$1.8</div> billion as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016) </div>classified as possible loss.</div> <!-- Field: Page; Sequence: 255; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">ICMS-ST Trigger</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Over the years, Ambev has received tax assessments relating to supposed ICMS differences considered due when the price of the products sold by the company reaches levels close to or above the fixed price table basis established by States. Ambev is currently challenging those charges before Courts</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Among other similar cases, in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> Ambev received <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> assessment, issued by the State of Minas Gerais, in the original amount of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$1.4</div> billion. In the <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">second</div> quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> the Administrative Court of the State Minas Gerais, concluded the judgment of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> relevant cases, unfavorably to Ambev. Ambev presented defense against such decisions to the Upper House of the Administrative Tax Court of the State of Minas Gerais and awaits for judgement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> Ambev has receive a new tax assessments issued by the State of Rio de Janeiro, about these same issue in the total historical amount of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">900</div> million. The Company filed a defense for this cases and currently awaits a decision of the Administrative Court of the State Rio de Janeiro.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Ambev management estimates the total possible losses related to this issue to be approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$5.8</div> billion (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$4.5</div> billion as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2016). </div>Ambev has recorded provisions in the total amount of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$6.7</div> million in relation to the proceedings for which it considers the chances of loss to be probable, considering specific procedural issues.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">Manaus Free Trade Zone - IPI</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Goods manufactured within the Manaus Free Trade Zone &#x2013; ZFM intended for consumption elsewhere in Brazil are exempt from the IPI. The units of Ambev have been registering IPI presumed credits upon the acquisition of exempted inputs manufactured therein in the Manaus Free Trade Zone. Since <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2009</div> we have been receiving a number of tax assessments from the RFB relating to the disallowance of such presumed credits, which are under discussion before the Brazilian Supreme Court. Management estimates possible losses in relation to these assessments to be <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$3.2</div> billion (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$2.0</div> billion as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016).</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In addition, over the years, Ambev has received tax assessments from the Brazilian Federal Tax Authorities charging federal taxes considered unduly offset with the disallowed IPI excise tax credits which are under discussion in other proceedings. Ambev is challenging those charges before Courts. Ambev management estimates the possible losses related to these assessments to be approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$900</div> million (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$735.5</div> million as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2016).</div></div> <!-- Field: Page; Sequence: 256; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">IPI Excise Tax</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2014</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015,</div> we received tax assessments from Brazilian Federal Tax Authorities related to IPI exercise tax, supposedly due over remittances of manufactured goods to other related factories. Management estimates the possible losses related to these assessments to be approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$1.5</div> billion (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$1.5</div> billion as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016).</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Civil</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">Subscription Warrants</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Certain holders of warrants issued by Old Ambev in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1996</div> for exercise in <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2003</div> have filed lawsuits to be able to subscribe the corresponding shares for an amount lower than what the Company considers to have been established at the time of the issuance of the warrants. The warrants object of those <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">six</div> proceedings represented, on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, </div><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,172.8</div> million Ambev common shares that would be issued at a value substantially below fair market value, should claimants ultimately prevail. The plaintiffs also claim they should receive past dividends related to these shares in the amount of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$846.9</div> million (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$761.7</div> million on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016). </div>The Company believes that the loss of this lawsuit is possible has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> recorded any provision in connection therewith. In the last quarter of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div> the Company reassessed and the likelihood&nbsp;of&nbsp;loss is remote of this lawsuits and will <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be disclosure of the coming interim financial statements.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">Lawsuit against Brewers Retail Inc.</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 2014, </div>claimants in Canada brought a lawsuit against the Liquor Control Board of Ontario (&#x201c;LCBO&#x201d;), Brewers Retail Inc. (&#x201c;The Beer Store&#x201d;) and the owners of The Beer Store (Molson Coors Canada, Sleeman Breweries Ltd. and Labatt Breweries of Canada LP). The lawsuit, brought pursuant to the Ontario Class Proceedings Act in the Ontario Superior Court of Justice, seeks a declaration that LCBO and <div style="display: inline; font-style: italic;">The Beer Store</div> agreed with each to allocate sales, territories, customers or markets for the supply of beer sold in Ontario since <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> June 1, 2000, </div>and a declaration that the owners of The Beer Store agreed to fix. The claimants are seeking damages <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> exceeding <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$3.7</div> billion (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$3,4</div> billion as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016), </div>for all mentioned parts. Considering that The Beer Store operates according to the rules established by the Government of Ontario and that prices at The Beer Store are independently set by each brewer, the Company believes that there are strong defenses and, accordingly, has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> recorded any provision in connection therewith.</div> <!-- Field: Page; Sequence: 257; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Contingent assets</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">According to IAS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">37,</div> contingent assets are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> recorded in consolidated financial statements, except when the realization of income is virtually certain. There was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> probable contingent assets to be disclosed <div style="display: inline; background-color: white">on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017.</div></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; background-color: white">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; background-color: white"></div></div> <div style=" font-size: 10pt; text-align: justify; margin: 0">The Company and its subsidiaries apply for the refund of the PIS and COFINS installments collected with the inclusion of ICMS in their calculation bases for the period from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1990</div> onwards. The amounts involved in the refund requests are still being determined.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of contingent liabilities. [Refer: Contingent liabilities [member]]</p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 31 - Non-cash Items<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCashFlowStatementExplanatory', window );">Disclosure of cash flow statement [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31.</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">NON-CASH ITEMS</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company carried out the following investment and financing activities <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> involving cash:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Acquisition of property, plant and equipment</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">105.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Acquisition of investments payables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">208.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Cash financing cost other than interests</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">37.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,752.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">PERT 2017</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">199.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Fair value of option granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">221.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">205.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">144.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Others</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; 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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801961296">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 32 - Related Parties<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfRelatedPartyExplanatory', window );">Disclosure of related party [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32.</div></div></td> <td><div style="display: inline; font-weight: bold;">RELATED PARTIES</div></td> </tr>  </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Policies and practices regarding the realization of transactions with related parties</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company adopts corporate governance practices and those recommended and/or required by the applicable law.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Under the Company&#x2019;s by laws the Board of Directors is responsible for approving any transaction or agreements between the Company and/or any of its subsidiaries, directors and/or shareholders (including shareholders, direct or indirect shareholders of the Company). The Antitrust Compliance and Related Parties Committee of the Company is required to advise the Board of Directors of the Company in matters related to transactions with related parties.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Management is prohibited from interfering in any transaction in which conflict exists, even in theory, with the Company interests. It is also <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> permitted to interfere in decisions of any other management member, requiring documentation in the Minutes of Meeting of the Board any decision to abstain from the specific deliberation.</div> <!-- Field: Page; Sequence: 258; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company&#x2019;s guidelines with related parties follow reasonable or commutative terms, similar to those prevailing in the market or under which the Company would contract similar transactions with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> parties. These are clearly disclosed in the financial statements as reflected in written contracts.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Transactions with management members:</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In addition to short-term benefits (primarily salaries), the management members are entitled to participate in Stock Option Plan (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24</div> &#x2013; <div style="display: inline; font-style: italic;">Share-based payments</div>).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Total expenses related to the Company&#x2019;s management members are as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Short-term benefits <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">Share-based payments <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(ii)</div></div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">36.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total key management remuneration</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">72.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">71.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-size: 8">(i) These correspond substantially to management&#x2019;s salaries and profit sharing (including performance bonuses).</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-size: 8">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-size: 8">(ii) These correspond to the compensation cost of stock options and restricted stocks granted to management. These amounts exclude remuneration paid to members of the Fiscal Council.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Excluding the above mentioned plan (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24</div> &#x2013; <div style="display: inline; font-style: italic;">Share-based payments</div>), the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> longer has any type of transaction with the Management members or pending balances receivable or payable in its balance sheet.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Transactions with the Company's shareholders:</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">a<div style="display: inline; font-size: 10pt">) Medical, </div>dental and other benefits</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Funda&ccedil;&atilde;o Antonio e Helena Zerrenner Institui&ccedil;&atilde;o Nacional de Benefici&ecirc;ncia (&#x201c;Funda&ccedil;&atilde;o Zerrenner) is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> of Ambev&#x2019;s shareholders, and at <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>held <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.2%</div> of total share capital. Funda&ccedil;&atilde;o Zerrenner is also an independent legal entity whose main goal is to provide Ambev&#x2019;s employees, both active and retirees, with health care and dental assistance, technical and superior education courses, facilities for assisting elderly people, through direct initiatives or through financial assistance agreements with other entities. On <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016,</div> actuarial responsibilities related to the benefits provided directly by Funda&ccedil;&atilde;o Zerrenner are fully funded by plan assets, held for that purpose, which significantly exceeds the liabilities at these dates. Ambev recognizes the assets (prepaid expenses) of this plan to the extent of amounts from economic benefits available to the Company, arising from reimbursements or future contributions reduction.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The expenses incurred by Funda&ccedil;&atilde;o Zerrenner in providing these benefits totaled <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$300.1</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$266.7</div> as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016), </div>of which <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$264.3</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$35.8</div> related to active employees and retirees respectively (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$231.9</div> and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$34.8</div> as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016 </div>related to active employees and retirees respectively).</div> <!-- Field: Page; Sequence: 259; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">b) Leasing </div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Ambev, through its subsidiary BSA (labeling), has an asset leasing agreement with Funda&ccedil;&atilde;o Zerrenner, for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$63,3</div> for <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">ten</div> years, maturing on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> March 31, 2018.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-style: italic;">c) Leasing &#x2013; Ambev. head office</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Ambev has a leasing agreement of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> commercial sets with Funda&ccedil;&atilde;o Zerrenner in the annual amount of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$3.3,</div> maturing on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January, 2020.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-style: italic;">d) Licensing agreement</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">The Company maintains a licensing agreement with Anheuser-Busch, Inc., to produce, bottle, sell and distribute Budweiser products in Brazil, Canada, and sales and distribution agreements of Budweiser products in Guatemala, Dominican Republic, Paraguay, El Salvador, Nicaragua, Uruguay and Chile. In addition, the Company produces and distributes Stella Artois products under license to ABI in Brazil and Canada and, by means of a license granted to ABI, it also distributes Brahma&#x2019;s product in the United States and several countries such as the United Kingdom, Spain, Sweden, Finland and Greece. The amount recorded was <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$1.9</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$2.0</div> on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$52.8</div> on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2015) </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$314.5</div> (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$374.0</div> on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016 </div>and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$434.8</div> on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2015) </div>as licensing income and expense, respectively.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0.5in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Ambev has licensing agreements with the Group Modelo, subsidiaries of ABI, for to import, promote and sell products Corona (<div style="display: inline; font-style: italic;">Corona Extra</div>, <div style="display: inline; font-style: italic;">Corona Light</div>, <div style="display: inline; font-style: italic;">Coronita</div>, <div style="display: inline; font-style: italic;">Pacifico</div> and <div style="display: inline; font-style: italic;">Negra Modelo</div>) in countries of the Latin America and the Canada.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Transactions with related parties</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Current</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Trade receivables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Other Trade receivables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Trade payables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Other Trade payables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Borrowings and interest payable</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends payables</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 22%; font-size: 10pt; text-align: left">AB InBev</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(363.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">AB Procurement</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">AB Services</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">AB USA</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(375.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Ambrew</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(89.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Cervecer&iacute;a Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(589.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(59.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Inbev</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">ITW International</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(212.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(48.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(590.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Panam&aacute; Holding</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(73.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">130.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">137.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,435.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(295.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(48.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(680.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt">(i) The amount represents the grade operations (purchase and sale) and the reimbursement between the companies of the group.</div> <!-- Field: Page; Sequence: 260; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Current</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Trade receivables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Other Trade receivables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Trade payables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Other Trade payables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Borrowings and interest payable</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends payables</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 22%; font-size: 10pt; text-align: left">AB InBev</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(308.9</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">AB Package</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(31.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">AB Services</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">AB USA</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(247.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Ambev Peru</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Ambrew</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(89.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Bogot&aacute; Beer</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">211.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(211.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Cervecer&iacute;a Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(444.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Inbev</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(17.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">ITW International</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(209.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(590.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(15.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(54.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(14.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">37.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">284.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,075.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(495.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(680.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(i) The amount represents the trade operations (purchase and sale) and the reimbursement between the companies of the group.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The tables below represent the transactions with related parties, recognized in the income statement:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Company</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Buying / Service fees / Rentals</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Sales</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Royalties</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Net finance cost</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; text-align: left">AB Procurement</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">AB USA</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(258.7</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.5</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(284.5</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Ambev Peru</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8.6</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.5</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Cervecer&iacute;a Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(749.1</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(45.8</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Inbev</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(73.6</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(91.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(35.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,186.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">73.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(366.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Company</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Buying / Service fees / Rentals</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Sales</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Royalties</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Net finance cost</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; text-align: left">AB Package</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">AB USA</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(206.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52.3</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(292.8</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Cervecer&iacute;a Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(596.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(46.9</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">InBev</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(77.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">ITW International</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(26.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(63.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">SAB Group</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.5</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23.5</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(45.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,023.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">78.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(371.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(26.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <!-- Field: Page; Sequence: 261; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;">  <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Company</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Buying / Service fees / Rentals</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Sales</div></div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Royalties</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">AB Inbev</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(55.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(35.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">AB USA</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(124.9</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">49.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(288.1</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Cervecer&iacute;a Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(257.7</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(52.9</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">InBev</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(73.3</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(356.9</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(74.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(942.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(377.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr>  </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; 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(&#x201c;AB InBev&#x201d;)</div></td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="layout-grid-mode: line"><div style="display: inline; font-size: 10pt">Anheuser-Busch Packaging Group Inc. (&#x201c;AB Package&#x201d;)</div></td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="layout-grid-mode: line"><div style="display: inline; font-size: 10pt">Anheuser-Busch Inbev Services LLC (&#x201c;AB Services&#x201d;)</div></td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="layout-grid-mode: line"><div style="display: inline; font-size: 10pt">Anheuser-Busch Inbev USA LLC (&#x201c;AB USA&#x201d;)</div></td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="layout-grid-mode: line"><div style="display: inline; font-size: 10pt">Compa&ntilde;ia Cervecera Ambev Peru S.A.C. (&#x201c;Ambev Peru&#x201d;)</div></td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="layout-grid-mode: line"><div style="display: inline; font-size: 10pt">Ambrew S.A. (&#x201c;Ambrew&#x201d;)</div></td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="layout-grid-mode: line"><div style="display: inline; font-size: 10pt">Bogot&aacute; Beer Company BBC S.A.S. (&#x201c;Bogot&aacute; Beer&#x201d;)</div></td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="layout-grid-mode: line"><div style="display: inline; font-size: 10pt">Cervecer&iacute;a Modelo de Mexico S. de R.L. de C.V. (&#x201c;Cervecer&iacute;a Modelo&#x201d;)</div></td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="layout-grid-mode: line"><div style="display: inline; font-size: 10pt">Inbev Belgium N.V. (&#x201c;Inbev&#x201d;)</div></td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="layout-grid-mode: line"><div style="display: inline; font-size: 10pt">Interbrew International B.V. (&#x201c;ITW International&#x201d;)</div></td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="layout-grid-mode: line"><div style="display: inline; font-size: 10pt">Cervecer&iacute;a Modelo de Guadalajara S.A. (&#x201c;Modelo&#x201d;)</div></td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="layout-grid-mode: line"><div style="display: inline; font-size: 10pt">Bavaria S.A. (&#x201c;SAB Group&#x201d;)</div></td> </tr>  </table></div><span></span>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801884128">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 33 - Group Companies<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory', window );">Disclosure of subsidiaries [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.</div></div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">GROUP COMPANIES</div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 22.95pt; font-size: 10pt; text-align: justify; text-indent: -22.7pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Listed below are the main group companies.</div> <!-- Field: Page; Sequence: 262; Value: 1 -->   <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div> <table cellspacing="0" cellpadding="0" style="font-size: 10pt; border-collapse: collapse; min-width: 700px;">  <tr> <td nowrap="nowrap" style="vertical-align: bottom; width: 82%; font-size: 10pt; layout-grid-mode: line"><br /> <div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Argentina</div></div></td> <td nowrap="nowrap" style="vertical-align: top; width: 18%">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; margin: 0">CERVECERIA Y MALTERIA QUILMES SAICA Y G</div> <div style=" font-size: 10pt; margin: 0">Charcas 5160 &#x2013; Buenos Aires</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">99.75%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Bol&iacute;via</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">CERVECERIA BOLIVIANA NACIONAL S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Avenida Montes 400 e Rua Chuquisaca 121 - La Paz</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">85.67%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Brazil</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">AMBEV S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Rua Dr. Renato Paes de Barros, 1.017, 3&ordm; andar, Itaim Bibi, S&atilde;o Paulo</div></td> <td style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Companhia Consolidadora </div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; margin: 0">AROSUCO AROMAS E SUCOS LTDA.</div> <div style=" font-size: 10pt; margin: 0">Avenida Buriti, 5.385, Distrito Industrial - Manaus - AM</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">CRBS S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Avenida Antarctica, 1.891, Fazenda Santa &Uacute;rsula &#x2013; Jaguari&uacute;na &#x2013; SP</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">CERVEJARIA Z.X.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Avenida Antarctica, 1.891, Fazenda Santa Ursula &#x2013; Jaguari&uacute;na - SP</div></td> <td nowrap="nowrap" rowspan="2" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">86.42%</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; layout-grid-mode: line">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Canad&aacute;</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">LABATT BREWING COMPANY LIMITED</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">207 Queens Quay West, Suite 299 - M5J 1A7 - Toronto</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Chile</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">CERVECERIA CHILE S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Avenida Presidente Eduardo Frei Montalva, 9.600 - Comuna de Quilicura - Santiago</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Spain</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">JALUA SPAIN, S.L.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Juan Vara Ter&aacute;n, 14 &#x2013; Ilhas Can&aacute;rias</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Luxembourg</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">AMBEV LUXEMBOURG</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">15 Breedewues - L1259 - Sennngerberg</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Guatemala</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">INDUSTRIAS DEL ATL&Aacute;NTICO, SOCIEDAD AN&Oacute;NIMA</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">KM 122 Ruta al Atlantico &#x2013; C.P 01012 Teculutan, Zacapa</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">50.00%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Paraguay</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">CERVECERIA PARAGUAYA S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Ruta Villeta KM 30 - Ypan&eacute;</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">87.36%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Dominican Republic</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">CERVECER&Iacute;A NACIONAL DOMINICANA, S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Autopista 30 de Mayo, Distrito Nacional</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">55.00%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom; width: 82%">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top; width: 18%">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Uruguay</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">LINTHAL S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">25 de Mayo 444, office 401 - Montevideo</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">CERVECERIA Y MALTERIA PAYSSAND&Uacute; S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Rambla Baltasar Brum, 2.933 &#x2013; 11800 - Payssandu</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">99.93%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">MONTHIERS SOCIEDAD AN&Oacute;NIMA</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Cesar Cortinas, 2.037 - Montevideo</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom; width: 82%; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Panama</div></div></td> <td nowrap="nowrap" style="vertical-align: top; width: 18%">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">Cervecer&iacute;a Nacional S. de R.L.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Planta Pasadena, v&iacute;a Ricardo J Alfaro y Sim&oacute;n Bol&iacute;var, ciudad de Panam&aacute;, Rep. De Panam&aacute;</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr>  </table> </div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of subsidiaries. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B4<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B4_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801765600">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 34 - Insurance<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInsuranceContractsExplanatory', window );">Disclosure of insurance contracts [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34.</div></div></td> <td><div style="display: inline; font-weight: bold;">INSURANCE</div></td> </tr>  </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company has a program of risk management in order to hire coverage compatible with its size and operation. Coverage was contracted for amounts considered sufficient by management to cover possible losses, considering the nature of its activity, the risks involved in their operations and the orientation of its insurance advisors.</div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for insurance contracts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801884128">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 35 - Events After the Reporting Period<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfEventsAfterReportingPeriodExplanatory', window );">Disclosure of events after reporting period [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;">  <tr style="vertical-align: top"> <td style="width: 21.3pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.</div></div></td> <td><div style="display: inline; font-weight: bold;">EVENTS AFTER THE REPORTING PERIOD</div></td> </tr>  </table> <div style=" margin: 0pt 0 0pt 21.3pt; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">i) In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2018, </div>Ambev S.A., through its subsidiaries Labatt Breweries and Ambev Luxemburgo, acquired <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> new loans totaling approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">R$2.0</div> billion, maturing in up to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">ii) In <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2018, </div>Ambev S.A., informed its investors and the market in general that, as per the notice to the market issued as of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 1</div><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">st</div>, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017,</div> concluded the transaction with ELJ, shareholder in Tenedora, owner of almost the totality of CND. As a result of the such transaction, the Company, directly and indirectly, became the owner of approximately <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">85%</div> of Tenedora, with ELJ owning the remaining <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15%,</div> as well as the term of exercise of the call option becomes from <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2019 </div>to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2022.</div></div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for events after the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 10<br> -IssueDate 2017-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=10&amp;date=2017-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6826174816">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant Accounting Policies (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfSignificantAccountingPoliciesAbstract', window );"><strong>Discloure of Significant Accounting Policies</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory', window );">Description of accounting policy for functional currency [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(a)</div></td> <td><div style="display: inline; font-weight: bold;">Basis of preparation and measurement</div></td> </tr> </table> <div style=" margin: 0pt 0 0pt 0.25in; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; color: windowtext">The financial statements are presented in </div>million <div style="display: inline; color: windowtext">of Brazilian Real (&#x201c;R$&#x201d;), </div>unless otherwise indicated, rounded to the nearest million indicated<div style="display: inline; color: windowtext">. The measurement basis used in preparing the financial statements is historical cost, net realizable value, fair value or recoverable amount.</div></div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DescriptionOfAccountingPolicyForNewIFRSRelasesTextBlock', window );">Description of accounting policy for new IFRS releases [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(b)</div></td> <td><div style="display: inline; font-weight: bold;">Recently issued IFRS</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The reporting standards below were published and are mandatory for future annual reporting periods. Although IFRSs anticipate early adoption, in Brazil, regulators have prevented this anticipation in order to preserve aspects of comparability. Accordingly, for the year ended <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2017, </div>these standards were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> applied in the preparation of these financial statements:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <!-- Field: Page; Sequence: 175; Value: 1 --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9</div> - Financial Instruments</div> (effective from annual periods beginning on or after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2018), </div>which will replace IAS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39,</div> introduces a logical approach for the classification of financial assets, which is driven by cash flow characteristics and the business model in which an asset is held; defines a new expected-loss impairment model that will require more effective recognition; and introduces a substantially-reformed model for hedge accounting, with enhanced disclosures about risk management activity. The new hedge accounting model represents a significant overhaul of the policies and aligns the accounting treatment with risk management activities. IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9</div> also removes the volatility in profit or loss that was caused by changes in the credit risk of liabilities elected to be measured at fair value. The company evaluated the possible impacts arising from the application of IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9</div> and does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> identify a significant impact on its financial position and/or its financial performance.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div> - Revenue from Contracts with Customers</div> (effective from annual periods beginning on or after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2018) </div>requires revenue recognition to depict the transfer of goods or services to customers in amounts that reflect the consideration (that is, payment) to which the Company expects to be entitled in exchange for those goods or services. The new standard will also result in more and enhanced disclosures about revenue, provide guidance for transactions that were <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> previously addressed comprehensively (for example, service revenue and contract modifications) and improve guidance for multiple-element arrangements. In view of the Ambev&#x2019;s activities, the company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> identify that the application of IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div> will have a significant impact on its financial position and/or its financial performance.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16</div> &#x2013; Leases</div> (effective from annual periods beginning on or after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2019) </div>replaces the existing lease accounting requirements and represents a significant change in the accounting and reporting of leases that were previously classified as operating leases, with more assets and liabilities to be reported on the balance sheet and a different recognition of lease costs.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The company is in process of assessing the full impact of IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16</div> and expects changes in the presentation of operating leases in the balance sheet.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Other Standards, Interpretations and Amendments to Standards </div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The other amendments to standards effective for annual periods beginning after <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>&nbsp;<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> January 2017, </div>have <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> been listed above because of either their non-applicability to or their immateriality to Ambev&#x2019;s consolidated financial statements.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DescriptionOfAccountingPolicyForTheBasisOfConsolidationTextBlock', window );">Description of accounting policy for the basis of consolidation [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(c)</div></td> <td><div style="display: inline; font-weight: bold;">Consolidated financial statements</div></td> </tr> </table> <div style=" margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The financial statements of subsidiaries, joint arrangements and associates used in its consolidated financial statements are prepared for the same reporting period as Ambev, using consistent accounting policies.</div> <!-- Field: Page; Sequence: 176; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">All intercompany transactions, balances and unrealized gains or losses on transactions between group companies have been eliminated.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Subsidiaries</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company controls an entity when it is exposed to or has rights to variable returns due to its involvement with the organization and is able to affect those returns through its power over the entity. In assessing control, potential voting rights are taken into account. Control is presumed to exist where the Company owns, directly or indirectly, more than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> half of the voting rights (which does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> always equate to economic ownership), unless it can be demonstrated that such ownership does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> constitute control.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Subsidiaries are consolidated as from the date in which control is obtained to the Company, except when the predecessor basis of accounting is applied for common control transfers. Consolidation is discontinued as from the date control ceases.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Ambev uses the purchase method to account for business combinations. The consideration transferred for the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities incurred and the equity interest issued by Ambev. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration agreement, when applicable. Costs related to the acquisition are recognized in income, as incurred. Assets, liabilities and contingent liabilities acquired/assumed in a business combination are recognized initially at their fair values at the acquisition date. Ambev recognizes the non-controlling interest in the acquiree, either at fair value or at the non-controlling interest&#x2019;s proportionate share of the net assets acquired. The measurement of non-controlling interest to be recognized is determined for each acquisition.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The excess: (i) of the consideration paid; (ii) of the amount of any non-controlling interests in the acquiree (when applicable); and (iii) of the fair value, at acquisition date, of any previous equity interest in the acquiree, over the fair value of the net identifiable assets acquired, at the date of acquisition, is recorded as goodwill. When the consideration transferred is less than the fair value of net assets acquired, the difference is recognized directly in income.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">All intercompany transactions, balances and unrealized gains and losses on transactions between group companies have been eliminated. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> evidence of impairment.</div> <!-- Field: Page; Sequence: 177; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Joint arrangements</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Joint arrangements are all entities over which the Company shares control with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> or more parties. Joint arrangements are classified as either joint operations or joint ventures depending on the contractual rights and obligations of each investor.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Business combination between entities under common control</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">Business combinations between entities under common control have <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> been addressed by IFRS&#x2019;s. The IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> is the pronouncement that shall be applied to business combinations, however it explicitly excludes business combinations between entities under common control from its scope.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">Therefore, in accordance with IAS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,</div> Management has adopted an accounting practice which is consistent with United States Generally Accepted Accounting Principles (USGAAP) and United Kingdom Generally Accepted Accounting Principles (UKGAAP), the predecessor basis of accounting to record the carrying amount of the asset received, as recorded by the parent company.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify; text-indent: 0in">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Under the predecessor basis of accounting, when accounting for a transfer of assets or a swap of shares between entities under common control, the entity that receives the net assets or the equity interests (the acquirer) shall initially record the assets and liabilities transferred at their parent book value at the transfer date. If the book value of assets and liabilities transferred by the parent are different from the historical cost registered by the controlling entity of the entities under common control (the ultimate parent), the financial statements of the acquirer shall reflect the assets and liabilities transferred at the same cost of the ultimate parent.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Regarding transactions between entities under common control that involve the disposal or transfer of assets from the subsidiary to its parent company, i.e. - above the level of our consolidated financial statement &#x2013;, the Company assess the existence of (i) conflict of interests and (ii) economic substance and purpose. Having fulfilled these assumptions, the Company adopted as a policy the concepts of IAS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16</div> in order to provide adequate visibility and fair impact on the amount of the distributable results to our shareholders, specially the non-controlling interests. This policy also includes assets acquired through the swap of non-cash assets, or swap with a combination of cash and non-cash assets. The assets subject to the swap <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be of equal or different nature. The cost of such asset is measured at fair value, unless (i) the swap transaction is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> commercial in nature, or (ii) the fair value of the asset received (and the asset assigned) cannot be reliably measured. The acquired asset is measured through this way even if the assignor entity cannot immediately exclude the asset from its books. If the acquired asset is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> measurable at fair value, its cost is determined by the book value of the assigned asset.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <!-- Field: Page; Sequence: 178; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Whenever there is a distribution of assets that is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> recorded as cash, the asset, before its distribution, is registered at fair value in the income account. This procedure is applicable to the distributions in which the assets are equal in nature and therefore treated equitably. However, similarly to IFRIC <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,</div> in the absence of a specific accounting practice for transactions under common control, we apply this procedure in our accounting practice. Also, we apply the same procedure to sales (products, supplies, etc.) we perform to our controlling entity, where the positive result of the sale is recognized in the income account.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory', window );">Description of accounting policy for foreign currency translation [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(d)</div></td> <td><div style="display: inline; font-weight: bold;">Foreign currency translation</div></td> </tr> </table> <div style=" margin: 0pt 46.75pt 0pt 76.55pt; font-size: 10pt; text-align: justify; text-indent: -76.55pt">&nbsp;</div> <div style=" margin: 0pt 46.75pt 0pt 76.55pt; font-size: 10pt; text-align: justify; text-indent: -76.55pt"><div style="display: inline; font-weight: bold;">Functional and presentation currency</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The items included in the financial statements of each subsidiary of the Company are measured using the currency of the primary economic environment in which the entity operates (&#x201c;functional currency&#x201d;).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The functional and presentation currency of the Company financial statements is the Brazilian Real.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Transactions and balances</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Foreign currency transactions are accounted for at exchange rates prevailing at the date of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the balance sheet date rate. Non-monetary assets and liabilities denominated in foreign currencies are translated at the foreign exchange rate prevailing at the date of the transaction. Non-monetary assets and liabilities denominated in foreign currencies that are stated at fair value are translated at exchange rates ruling at the dates the fair value was determined. Gains and losses arising from the settlement of transactions in foreign currencies and resulting from the conversion of assets and liabilities denominated in foreign currencies are recognized in the income statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The foreign exchange gains and losses related to loans and cash and cash equivalents are presented in the income statement as finance cost or finance income.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Conversion of the financial statements of subsidiaries located abroad</div></div> <!-- Field: Page; Sequence: 179; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Assets and liabilities of subsidiaries located abroad are translated at foreign exchange rates prevailing at the balance sheet date, while amounts from income statement and cash flows are translated at average exchange rates for the year and the changes in equity are translated at historical exchange rates of each transaction. The translation adjustments arising from the difference between the average exchange rates and the historical rates are recorded directly in Carrying value adjustments.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On consolidation, exchange differences arising from translation of equity in foreign operations and borrowings and other currency instruments designated as net investment hedges are recognized in Carrying value adjustments, an equity reserve, and included in Other comprehensive income.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The goodwill and fair value adjustments arising from the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the closing rate.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Net investment in a foreign operation</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">An entity <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>have a monetary item that is receivable from or payable to a foreign operation which settlement is neither planned nor likely to occur in the foreseeable future and do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> include trade receivables or trade payables. Exchange differences arising shall be recognized initially in other comprehensive income and reclassified from equity to profit or loss on disposal of the net investment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Exchange rates</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The most significant exchange rates used in the preparation of the Company&#x2019;s financial statements are as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Closing rate</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Average rate</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Currency</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Name</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Country</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; font-size: 10pt">CAD</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Canadian Dollars</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Canada and Cuba</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.6380</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.4214</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.8124</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.4567</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.6348</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.5661</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">DOP</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dominican Pesos</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dominican republic</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0685</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0700</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0860</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0674</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0755</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0725</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Ecuador <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div>, Panam&aacute; and Cuba<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(ii)</div></div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.3080</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2591</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.9048</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2017</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.4749</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2596</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">GTQ</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Quetzal</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Guatemala</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4500</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4343</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.5129</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4344</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4570</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4265</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">PEN</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Novo Sol</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Peru <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.9720</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1440</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0269</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0396</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">ARS</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Argentinean Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Argentina</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1762</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.2056</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3003</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1931</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.2354</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3581</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">BOB</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Bolivian Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Bolivia</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4753</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4683</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.5610</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4600</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4993</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4683</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">PYG</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Guarani</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Paraguai</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0006</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0006</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0007</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0006</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0006</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0006</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">UYU</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Uruguayan Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Uruguay</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1151</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1114</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1304</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1116</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1166</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1197</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">CLP</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Chilean Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Chile</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0054</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0049</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0055</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0049</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0051</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0050</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">COP</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Peso colombiano</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Col&ocirc;mbia <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0011</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0012</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0011</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0012</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">BBD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Barbadian Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Barbados</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6307</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6075</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.5783</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.7139</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">(i) Until <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> December 31, 2016, </div>due to exchange of shareholdings<div style="display: inline; font-weight: bold;">, </div>according the Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> - <div style="display: inline; font-style: italic;">Corporate information</div>.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">(ii) The functional currency of Cuba, the Cuban convertible peso (&#x201c;CUC&#x201d;), has a fixed parity with the dollar (&#x201c;USD&#x201d;) at balance sheet date.</div> <!-- Field: Page; Sequence: 180; Value: 1 --></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory', window );">Description of accounting policy for segment reporting [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(e)</div></td> <td><div style="display: inline; font-weight: bold;">Segment reporting</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Reportable segments are identified based on internal reports regularly reviewed by the chief operating decision maker of the Company for purposes of evaluating the performance of each segment and allocating resources to those segments. Accordingly, segment information is presented on geographical areas, since the risks and rates of return are affected predominantly by the fact that the Company operates in different regions. The Company&#x2019;s management structure and the information reported to the chief decision are structured the same way.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The performance information by business units (Beer and Soft drink (&#x201c;CSD&#x201d;) and Non-alcoholic and non-carbonated (&#x201c;NANC&#x201d;)), is also used by the decision maker for the Company and is presented as additional information, even though it does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> qualify as a reportable segment. Internally, the Company&#x2019;s management uses performance indicators, such as earnings of consolidated operation before interest and taxes (EBIT) and normalized earnings of consolidated operation before interest, taxes, depreciation and amortization (normalized EBITDA) as measures of segment performance to make decisions about resource allocation and performance analysis of consolidated operation. These indicators are reconciled to the profit of the segment in the tables on Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div> <div style="display: inline; font-style: italic;">&#x2013; Segment reporting</div>.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company operates its business through <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> zones identified as reportable segments:</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&#x25aa; Latin America North, which includes our operations (a) in Brazil and Luxembourg, where we operate <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">two</div> business sub units: (i) beer and (ii) CSD and NANC; and (b) in Central America Operations (&#x201c;CAC&#x201d;), which includes our operations in the Dominican Republic (which also serves the islands of the Caribbean: Saint Vincent, Dominica, Antigua and Barbados), Guatemala (which also serves El Salvador and Nicaragua), Cuba and Panama;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&#x25aa; Latin America South, which includes our operations in Argentina, Bolivia, Paraguay, Uruguay, Chile, Ecuador, Peru and Colombia.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&#x25aa; Canada, represented by Labatt&#x2019;s operations.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue', window );">Description of accounting policy for recognition of revenue [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(f)</div></td> <td><div style="display: inline; font-weight: bold;">Revenue recognition</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company recognizes revenue when the amount of revenue can be measured reliably and it is probable that economic benefits associated with the transaction will flow to the Company.</div> <!-- Field: Page; Sequence: 181; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Revenue comprises the fair value of the amount received or receivable upon selling products or rendering services in the ordinary course of business. Revenue is presented net of taxes, returns, rebates and discounts, as well as net of elimination of sales between group companies.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Goods sold</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In relation to the sale of goods, revenue is recognized when the significant risks and rewards of ownership have been transferred to the buyer, and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> significant uncertainties remain regarding recovery of the consideration due, the costs associated with the possible return of the products, and when there is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> continuing management involvement with the goods. Revenue from the sale of goods is measured at the fair value of the consideration (price) received or receivable, net of returns, commercial deductions and discounts.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">As part of its commercial policy, the Company provides unconditional discounts to its customers, which are recorded as s deductions at the time of sales.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Finance income</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Finance income consists of interest received or receivable on funds invested, foreign exchange gains, gains on currency hedging instruments offsetting currency losses, gains on hedging instruments that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> part of a hedge accounting relationship, gains on financial assets classified as held for trading, as well as any gains from hedge ineffectiveness.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Interest income is recognized on an accrual basis unless collectability is in doubt.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory', window );">Description of accounting policy for expenses [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(g)</div></td> <td><div style="display: inline; font-weight: bold;">Expenses</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Royalty expenses</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Royalties are classified as cost of goods sold.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Finance costs</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Finance costs comprise interest payable on borrowings, calculated using the effective interest rate method, foreign exchange losses, losses on currency hedging instruments offsetting currency gains, results on interest rate hedging instruments, losses on hedging instruments that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> part of a hedge accounting relationship, losses on financial assets classified as held for trading, impairment losses on financial assets classified as available for sale, as well as any losses from hedge ineffectiveness.</div> <!-- Field: Page; Sequence: 182; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">All interest costs incurred in connection with borrowings or financial transactions are expensed as incurred as part of finance costs, except when capitalized. Any difference between the initial amount and the maturity amount of interest bearing loans and borrowings, such as transaction costs and fair value adjustments, are recognized in the income statement over the expected life of the instrument on an effective interest rate method. The interest expense component of finance lease payments is also recognized in the income statement using the effective interest rate method.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForExceptionalItemsExplanatory', window );">Description of accounting policy for exceptional items [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(h)</div></td> <td><div style="display: inline; font-weight: bold;">Exceptional items</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Exceptional items are those that in Management&#x2019;s judgment need to be disclosed separately by virtue of their size or incidence. In determining whether an event or transaction is special, Management considers quantitative as well as qualitative factors such as the frequency or predictability of occurrence, and the potential of impact on the variation of profit or loss. These items are disclosed in the income statement or separately disclosed in the notes to the financial statements. Transactions that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>give rise to exceptional items are principally restructuring activities, acquisition of subsidiaries, impairment losses, and gains or losses on disposal of assets and investments.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory', window );">Description of accounting policy for income tax [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(i)</div></td> <td><div style="display: inline; font-weight: bold;">Income tax and social contribution</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Income tax and social contribution for the year comprises current tax and deferred tax. Income tax and social contribution are recognized in the income statement, unless they relate to items recognized directly in comprehensive income or other equity accounts. In these cases the tax effect is also recognized directly in comprehensive income or equity account (except interest on shareholder&#x2019;s equity. See Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> (p)).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The current tax expense is the expectation of payment on the taxable income for the year, using tax rates enacted, or substantially enacted, at the balance sheet date, and any adjustment to tax payable in respect of previous years.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The deferred taxes are recognized using the balance sheet liability approach. This means that a deferred tax liability or asset is recognized for all taxable and tax deductible temporary differences between the tax and accounting basis of assets and liabilities. Under this method, a provision for deferred taxes is also calculated on the differences between the fair value of assets and liabilities acquired in a business combination and their tax basis. IAS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> prescribes that <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> deferred tax liability on goodwill recognition, and <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> deferred tax asset/liability is recorded: (i) at the initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss; and (ii) on differences related to investments in subsidiaries to the extent that they are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> reversed in the foreseeable future. The amount of deferred tax provided is based on the expectation of the realization or settlement of the temporary difference, using currently or substantially enacted tax rates.</div> <!-- Field: Page; Sequence: 183; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realize the assets and settle the liabilities simultaneously.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The deferred tax asset is recognized only to the extent that it is likely that future taxable profits will be available. The deferred income tax asset is reduced to the extent that it is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> longer probable that the future taxable benefit will occur.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory', window );">Description of accounting policy for property, plant and equipment [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(j)</div></td> <td><div style="display: inline; font-weight: bold;">Property, plant and equipment</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Property, plant and equipment are measured at cost less accumulated depreciation and impairment losses. The cost includes the purchase price, borrowing cost incurred during the construction period and any other costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management (e.g. nonrefundable tax, transport and the costs of dismantling and removal and site restoration, if applicable). The cost of a self-constructed asset is determined using the same principles as for an acquired asset. The depreciation methods, residual value, as well as the useful lives are reassessed and adjusted if appropriate, annually.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Borrowing costs directly attributable to the acquisition, construction or production of qualifying assets are capitalized as part of the cost of such assets.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Land is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> depreciated since it is deemed to have an indefinite life.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Property, plant and equipment, and depreciation include the effects of the predecessor basis of accounting, according the Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div> - <div style="display: inline; font-style: italic;">Corporate information</div>.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Subsequent expenditures</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company recognizes in the carrying amount of an item of property, plant and equipment the cost of replacing a component of such an item if it is probable that the future economic benefits embodied with the item will flow to the Company and the cost of the item can be measured reliably. All other costs are expensed as incurred.</div> <!-- Field: Page; Sequence: 184; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Depreciation</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The depreciable amount is the cost of an asset less its residual value. Residual values, if <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> insignificant, are reassessed annually. Depreciation is calculated from the date the asset is available for use, using the straight-line method over the estimated useful lives of the assets.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The estimated useful lives of major property, plant and equipment classes as follows:</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">Buildings (years)</td> <td style="width: 5%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 20%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">25</div></div></td> <td style="width: 5%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Plant and equipment (years)</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">15</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Fixtures (years)</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">10</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Fittings (years)</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">10</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">External use assets (years)</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> - </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> </tr> </table> </div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The assets residual values and useful lives are reviewed at least annually. Management uses judgment to assess and ascertain the useful lives of these assets.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Gains and losses on sale</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Gains and losses on sales are determined by comparing the results with the carrying amount and are recognized in Other operating income/(expenses) in the income statement.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForGoodwillExplanatory', window );">Description of accounting policy for goodwill [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(k)</div></td> <td><div style="display: inline; font-weight: bold;">Goodwill</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Goodwill arises on the acquisition of subsidiaries, associates and joint arrangements.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Goodwill is determined as the excess (i) of the consideration paid; (ii) of the amount of any non-controlling interests in the acquiree (when applicable); and (iii) of the fair value, at acquisition date, of any previous equity interest in the acquiree, over the fair value of the net identifiable assets acquired at the date of acquisition. All business combinations are accounted for by applying the purchase method.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In conformity with IFRS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> <div style="display: inline; font-style: italic;">Business Combinations</div>, goodwill is carried at cost and is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> amortized, but tested for impairment at least annually, or whenever there are indications that the cash generating unit to which the goodwill has been allocated <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be impaired. Impairment losses recognized on goodwill are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> reversed. Gains and losses on the disposal of an entity include the carrying amount of goodwill relating to the entity sold.</div> <!-- Field: Page; Sequence: 185; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Goodwill is expressed in the functional currency of the subsidiary or joint operation to which it relates and translated to <div style="display: inline; font-style: italic;">Reais</div> using the year-end exchange rate.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Regarding associates and joint ventures, goodwill is included in the carrying amount of the investment in the associate/joint ventures.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">If the Company&#x2019;s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognized exceeds the cost of the business combination such excess is recognized immediately in the income statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Expenditure on internally generated goodwill is expensed as incurred.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Goodwill includes the effects of the predecessor basis of accounting (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> (c)).</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory', window );">Description of accounting policy for intangible assets other than goodwill [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(l)</div></td> <td><div style="display: inline; font-weight: bold;">Intangible assets</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Brands</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When part of the consideration paid in a business combination is related to brands, these are recognized in a specific Intangible Assets account and measured at fair value at the acquisition date. Subsequently, the value of brands can be reduced in case of impairment losses. Internally generated expenditures for developing a brand are recognized as expenses.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Software</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Purchased software is measured at cost less accumulated amortization.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Amortization related to software is included in cost of sales, distribution and sales expenses, marketing expenses or administrative expenses based on the activity the software supports.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Other intangible assets</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Other intangible assets, acquired by the Company, are stated at acquisition cost less accumulated amortization and impairment losses.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Other intangible assets also include multi-year sponsorship rights acquired by the Company. These are initially recognized at the present value of the future payments and subsequently measured at cost less accumulated amortization and impairment losses.</div> <!-- Field: Page; Sequence: 186; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Amortization</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Intangible assets with definite useful lives are amortized based on the straight-line method over their estimated useful lives. Licenses, supply and distribution rights are amortized over the period in which the rights exist. Brands are considered to have an indefinite life and, therefore, are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> amortized. Software and capitalized development cost related to technology are amortized over <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div> to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div> years.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Items that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> amortized are tested for impairment on an annual basis.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories', window );">Description of accounting policy for measuring inventories [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(m)</div></td> <td><div style="display: inline; font-weight: bold;">Inventories</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Inventories are initially recorded at the acquisition cost and subsequent valued at the lower of cost and net realizable value. Cost includes expenditure incurred in acquiring the inventories and bringing them to their existing location and condition. The weighted average method is used in determining the cost of inventories.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The cost of finished products and work in progress comprises raw materials, other production materials, direct labor, other direct costs, gains and losses with derivative financial instruments, and an allocation of fixed and variable overhead based on normal operating capacity. Net realizable value is the estimated selling price in the ordinary course of business, less the cost for bringing inventories to sales conditions and selling costs.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Inventories have their amount reduced on a case-by-case basis if the anticipated net realizable value declines below its carrying amount. The calculation of the net realizable value takes into consideration specific characteristics of each inventory category, such as expiration date, remaining shelf life, slow-moving indicators, amongst others.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory', window );">Description of accounting policy for trade and other receivables [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(n)</div></td> <td><div style="display: inline; font-weight: bold;">Trade receivables</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Accounts receivable are initially recognized at fair value and subsequently at amortized cost, less provision for losses on doubtful accounts. An allowance for impairment of trade receivables is established when there is objective evidence that the Company will <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> be able to collect all amounts due according to the original terms of the receivables. An allowance for impairment loss is recorded for an amount considered sufficient by management to cover probable losses upon the realization of receivables. The amount of the allowance is the difference between the asset&#x2019;s carrying amount and the present value of the estimated future cash flows. The allowance for impairment loss is recognized in the income statement, as are subsequent recoveries of previous impairments. Historically, <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> significant losses in trade receivables have been experienced.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents', window );">Description of accounting policy for determining components of cash and cash equivalents [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(o)</div></td> <td><div style="display: inline; font-weight: bold;">Cash and cash equivalents</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Cash and cash equivalents include all cash balances, bank deposits, and short-term highly liquid investments with original maturities of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">three</div> months or less with insignificant risks of changes in value, <div style="display: inline; font-weight: normal">and </div>readily convertible into cash. They are stated at face value, which approximates their fair value.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For the purpose of the cash flow statement, cash and cash equivalents are presented net of bank overdrafts, when applicable.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory', window );">Description of accounting policy for issued capital [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(p)</div></td> <td><div style="display: inline; font-weight: bold;">Equity</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Issued capital</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company's issued capital consists only of common shares.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Repurchase of shares</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When the Company buys back its own shares, the amount paid, including any additional costs directly attributable is recognized as a deduction from equity attributable to shareholders, in &#x201c;Treasury shares&#x201d; line item.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Share issuance costs</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Incremental costs directly attributable to the issuance of new shares or options are presented in equity as a deduction, net of tax, from the proceeds.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Dividends and Interest on shareholder&#x2019;s equity</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Dividends and interest on shareholder&#x2019;s equity are recognized in the liability on the date that are approved on Board of Directors Meeting, except the minimum statutory dividends provided by the Company&#x2019;s bylaws, that are recognized as a liability when applicable, at the end of each fiscal year.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The expense of interest attributable to capital to shareholders is recognized in income for calculation of Brazilian income and social contribution tax and after are reclassified from shareholders' equity for presentation purposes in financial statements.</div> <!-- Field: Page; Sequence: 188; Value: 1 --></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory', window );">Description of accounting policy for borrowings [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(q)</div></td> <td><div style="display: inline; font-weight: bold;">Interest-bearing loans and borrowings </div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Interest-bearing loans and borrowings are recognized initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest-bearing loans and borrowings are stated at amortized cost with any difference between the initial and maturity amount being recognized in the income statement over the expected life of the instrument on an effective interest rate basis. The Company has interest-bearing loans and borrowings covered by a hedge structure (Note <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22</div> &#x2013; <div style="display: inline; font-style: italic;">Interest-bearing loans and borrowings</div>).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Borrowing costs directly related to the acquisition, construction or production of a qualifying asset, that requires a substantial period of time to get ready for its intended use or sale, are capitalized as part of the cost of that asset when it is probable that future economic benefits associated with the item will flow to the Company and costs can be measured reliably. The other borrowing costs are recognized as finance costs in the period in which they are incurred.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory', window );">Description of accounting policy for employee benefits [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(r)</div></td> <td><div style="display: inline; font-weight: bold;">Employee benefits</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Post-employment benefits</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Post-employment benefits include pensions managed in Brazil by Instituto Ambev de Previd&ecirc;ncia Privada &#x2013; IAPP, post-employment dental benefits and post-employment medical benefits managed by Funda&ccedil;&atilde;o Zerrenner. Usually, pension plans are funded by payments made by both the Company and its employees, taking into account the recommendations of independent actuaries. Post-employment dental benefits and post-employment medical benefits are maintained by the return on Funda&ccedil;&atilde;o Zerrenner&#x2019;s plan assets. If necessary, the Company <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>contribute some of its profit to the Funda&ccedil;&atilde;o Zerrenner.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company manages defined benefit and defined contribution plans for employees of its companies located in Brazil and in its subsidiaries located in Dominican Republic, Panama, Uruguai, Bolivia and Canada.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company maintains funded and unfunded plans.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">r.1</div>) Defined contribution plans</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">A defined contribution plan is a pension plan under which the Company pays fixed contributions into a fund. The Company has <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> legal or constructive obligations to pay further contributions if the fund does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> hold sufficient assets to pay all employees for the benefits relating to employee service in the current and prior periods.</div> <!-- Field: Page; Sequence: 189; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">The contributions of these plans are recognized as expense in the period they are incurred.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">r.2</div>) Defined benefit plans</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Typically, defined benefit plans define an amount of pension benefit that an employee will receive on retirement, usually dependent on <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> or more factors such as age, years of service and compensation.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">For defined benefit plans, expenses are assessed separately for each plan using the projected credit unit method. The projected credit unit method takes into account each period of service as giving rise to an additional unit of benefit to measure each unit separately. Under this method, the cost of providing pensions is charged to the income statement during the period of service of the employee. The amounts charged to the income statement consist of current service cost, interest cost, past service costs and the effect of any settlements and curtailments. The obligations of the plan recognized in the balance sheet are measured at the present value of the estimated future cash outflows using a discount rate equivalent to the government&acute;s bond rates with maturity terms similar to those of the obligation and the fair value of the plan assets.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Past service costs result from the introduction of a new plan or changes to an existing plan. They are recognized immediately in the income statement, at the earlier of when: (i) the settlements / curtailments occurs, or (ii) the Company recognizes related restructuring or termination costs, unless those changes are conditioned to the employee&#x2019;s continued employment, for a specific period of time (the period in which the right is acquired). In such case, the past services costs are amortized using the straight-line method during the period in which the right was acquired.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Actuarial gains and losses consist of the effects of differences between the previous actuarial assumptions and what has actually occurred, and the effects of changes in actuarial assumptions. Actuarial gains and losses are fully recognized in Carrying value adjustments.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Re-measurements, comprising of actuarial gains and losses, the effect of the asset ceiling and the return on plan assets, both excluding net interest, are recognized in full in the period in which they occur in the statement of comprehensive income. Re-measurements are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> reclassified to profit or loss in subsequent periods.</div> <!-- Field: Page; Sequence: 190; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When the amount of the defined benefit obligation is negative (an asset), the Company recognizes those assets (prepaid expenses), to the extent of the value of the economic benefit available to the Company either from refunds or reductions in future contributions.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Other post-employment obligations</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company and its subsidiaries provide post-employment medical benefits, reimbursement of medication expenses and other benefits to certain retirees through Funda&ccedil;&atilde;o Zerrenner. These benefits are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> granted to new retirees. The expected costs of these benefits are recognized over the period of employment, using an accounting methodology similar to that for defined benefit plans, including actuarial gains and losses.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Termination benefits</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Termination benefits are recognized as an expense at the earlier of: (i) when the Company is demonstrably committed, without realistic possibility of withdrawal, to a formal detailed plan to terminate employment before the normal retirement date, and (ii) when the Company recognizes costs for a restructuring.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Bonuses</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Bonuses granted to employees and managers are based on pre-defined company and individual target achievement. The estimated amount of the bonus is recognized as an expense in the period the bonus is earned.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory', window );">Description of accounting policy for share-based payment transactions [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(s)</div></td> <td><div style="display: inline; font-weight: bold;">Share-based payments</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Different share and share option programs allow management and other members appointed by the Board of Directors to acquire shares of the Company. The fair value of the share options is estimated at grant date, using an option pricing model that is most appropriate for the respective option. Based on the expected number of options that will be exercised, the fair value of the options granted is recognized as an expense over the vesting period with a credit to equity. When the options are exercised, equity is increased by the amount of the proceeds received.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory', window );">Description of accounting policy for trade and other payables [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(t)</div></td> <td><div style="display: inline; font-weight: bold;">Trade payables</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Trade payables are recognized initially at fair value and subsequently at amortized cost using the effective interest method.</div> <!-- Field: Page; Sequence: 191; Value: 1 --></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory', window );">Description of accounting policy for provisions [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(u)</div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">Provisions</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Provisions are recognized when: (i) the Company has a present obligation (legal or constructive) as a result of past events; (ii) it is likely that a future disbursement will be required to settle the current obligation; and (iii) a reliable estimate of the amount of the obligation can be made.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Provisions, except for the mentioned on item disputes and litigation, are determined discounting the expected future cash flows, to a pre-tax rate, that reflects the current market assessments of the time value of money and, where appropriate, the risks specific to the liability. The increase accruals are recognized as finance expense.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Restructuring</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">A provision for restructuring is recognized when the Company has approved a detailed restructuring plan, and the restructuring has either commenced or has been announced. Costs relating to the ongoing and future activities of the Company are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> provided for, but recognized when expenses are incurred.. The provision includes the benefit commitments in connection with early retirement and redundancy schemes.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Disputes and Litigations</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">A provision for disputes and litigation is recognized when it is more likely than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> that the Company will be required to make future payments as a result of past events. Such items <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>include but are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> limited to, several claims, suits and actions filed by or against the Company relating to antitrusts laws, violations of distribution and license agreements, environmental matters, employment-related disputes, claims from tax authorities, and other litigation matters..</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory', window );">Description of accounting policy for financial instruments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(v)</div></td> <td><div style="display: inline; font-weight: bold;">Financial assets and liabilities</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Classification</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company classifies its financial assets and liabilities in the following categories: (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>) at fair value through profit or loss, (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>) loans and receivables, (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>) held to maturity and (<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div>) available for sale. The classification depends on the purpose for which the financial instruments were acquired. Management determines the classification of its financial assets at initial recognition.</div> <!-- Field: Page; Sequence: 192; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>) Financial assets and liabilities at fair value through profit or loss</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Financial assets and liabilities at fair value through profit or loss are financial instruments held for trading. A financial asset is classified in this category if acquired principally for the purpose of being sold in the short term. Derivatives are also categorized as held for trading unless they are designated as hedges.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In general, financial instruments of this category are classified as short-term investments securities, on current assets. Investments with maturities beyond <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be classified as short-term based on Management's intent and ability to withdraw them within less than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> year, as well as, considering their highly liquid nature and the fact that they represent cash available to fund current operations.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>) Loans and receivables</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Loans and receivables are non-derivative financial assets with fixed or determinable payments that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> quoted in an active market. They are included in current assets, except for maturities greater than <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> months after the end of the reporting period (these are classified as non-current assets).</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"></div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>) Investments held to maturity</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt">Investments held to maturity are financial assets acquired with the intention and financial ability to hold them in the portfolio until maturity.</div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div>) Available-for-sale financial assets</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Available-for-sale financial assets are non-derivative financial assets <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> classified in any other category. Available-for-sale financial assets are classified as non-current assets, unless Management intends to dispose of the investment within <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12</div> months of the end of the reporting period.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Investments in debt and equity securities are classified in this category. Equity instruments are undertakings in which the Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> have significant influence or control.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Recognition and measurement</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Purchases and sales of financial assets and liabilities are recognized on the trade date - the date on which the Company undertakes to buy or sell the asset.</div> <!-- Field: Page; Sequence: 193; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Financial assets and liabilities are realized when the rights to receive cash flows from investments have expired or have been transferred, in this case, when the Company has transferred substantially all risks and benefits of ownership.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div>) Financial assets and liabilities at fair value through profit or loss</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Financial assets and liabilities at fair value through profit and loss are initially recognized at fair value and transaction costs are charged to the income statement. Subsequently, they are carried at fair value. Gains or losses arising from changes in the fair value of financial instruments at fair value through profit or loss are presented in the income statement in the period in which they arise.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div>) Loans and receivables</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Loans and receivables are carried at amortized cost using the effective interest rate.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3</div>) Investments held to maturity</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Investments held to maturity are initially recognized at fair value plus any directly attributable transaction costs. After initial recognition, investments held to maturity are measured at amortized cost using the effective interest method, reduced by any on loss impairment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4</div>) Available-for-sale financial assets</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Available-for-sale financial assets are initially measured at fair value. Interest and inflation monetary adjustments are recognized in income. Subsequently, available-for-sale financial assets are measured at fair value, with changes in fair value recognized in other comprehensive income, and interests (measured using the effective interest rate method), recognized in income statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When available-for-sale financial assets are settled or become impaired, the accumulated fair value adjustments recognized in other comprehensive income are included in the income statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The fair values of investments with public quotations are based on current bid prices. If the market for a financial asset (and for unlisted securities on the stock exchange) is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> active, the Company establishes fair value by using valuation techniques. These techniques include the use of recent transactions with <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">third</div> parties, reference to other instruments that are substantially similar, analysis of discounted cash flows and option pricing models making maximum use of information from the market and with the least possible information generated by the Company's management.</div> <!-- Field: Page; Sequence: 194; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Impairment of financial assets</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Management assesses at the end of each reporting period whether there is objective evidence that a financial asset or group of financial assets is impaired. If any such indication exists, the asset&#x2019;s recoverable amount is estimated. A financial asset or a group of financial assets is impaired and an impairment loss is recorded only if there is objective evidence of impairment as a result of <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> or more events that occurred after the initial recognition of the asset (&#x201c;loss event&#x201d;) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Offsetting of financial instruments</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt">Financial assets and liabilities are offset and the net amount presented in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory', window );">Description of accounting policy for impairment of non-financial assets [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(w)</div></td> <td><div style="display: inline; font-weight: bold;">Impairment of non-financial assets</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The carrying amounts of non-financial assets, such as property, plant and equipment, goodwill and intangible assets are reviewed, at least, at each reporting date to determine whether there is any indication of impairment. If any such indication exists, the asset&#x2019;s recoverable amount is estimated.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Goodwill, intangible assets that are <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> yet available for use and intangibles with an indefinite useful life are tested for impairment at least annually at the business unit level (which is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">one</div> level below the reportable segment) or whenever there is any indication of impairment.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">An impairment loss is recognized whenever the carrying amount of an asset or the related cash-generating unit exceeds its recoverable amount. Impairment losses are recognized in the income statement. Intangible assets with an indefinite useful life are tested on a fair value approach applying multiples that reflect current market transactions to indicators that drive the profitability of the asset or the royalty stream that could be obtained from licensing the intangible asset to another party in an arm&#x2019;s length transaction.</div> <!-- Field: Page; Sequence: 195; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The recoverable amount of other assets is determined as the higher of their fair value less costs to sell and value in use. For an asset that does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> generate largely independent cash inflows, the recoverable amount is determined for the cash-generating unit to which the asset belongs. The recoverable amount of the cash-generating units to which the goodwill and the intangible assets with indefinite useful life belong is based on a discounted free cash flow approach, using a discount rate that reflects current valuation models of the time value of money and the risks specific to the asset. These calculations are corroborated by valuation multiples, quoted share prices for publicly traded subsidiaries or other available fair value indicators.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In assessing value in use, the estimated future cash flows are discounted to their present value using a discount rate before taxes that reflects current market assessments of the time value of money and the risks specific to the asset.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Non-financial assets, except by goodwill are reviewed for possible reversal of the impairment at the reporting date. Impairment losses are reversed only to the extent that the asset&#x2019;s carrying amount does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> exceed the carrying amount that would have been determined, net of depreciation or amortization, if <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> impairment loss had been recognized.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory', window );">Description of accounting policy for derivative financial instruments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(<div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">x</div>)</div></td> <td><div style="display: inline; font-weight: bold;">Derivative financial instruments</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company uses derivative financial instruments in order to mitigate against risks related to foreign currency, interest rates and commodity prices. Derivative financial instruments that, although contracted for hedging purposes, do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> meet all hedge accounting criteria are recognized at fair value in the income statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Derivative financial instruments are recognized initially at fair value. Fair value is the amount an asset could be realized and a liability settled, between knowledgeable parties, in an arm&#x2019;s length transaction. The fair value of derivative financial instruments <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"> may </div>be obtained from quoted market prices or from pricing models that take into account current market rates, and also credit risk quality of the counterpart.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Subsequent to initial recognition, derivative financial instruments are re-measured to their fair value at the balance sheet date. Changes in fair value of derivative financial instruments are recognized in the income statement, except when they are designated as hedge instruments, when any effective portion of gain or loss is recognized directly in other comprehensive income.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Cash flow, net investment or fair value hedge accounting is applied to all hedges that qualify for hedge accounting under IAS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39,</div> including the required hedge documentation and hedge effectiveness tests.</div> <!-- Field: Page; Sequence: 196; Value: 1 --> <!-- Field: /Page --> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; font-weight: bold;">Cash flow hedge accounting</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When a derivative financial instrument hedges the variability in cash flows of a recognized asset or liability, the foreign currency risk and the fluctuation of commodity prices associated with a highly probable forecasted transaction, the effective portion of any resulting gain or loss on the derivative financial instrument is recognized directly in other comprehensive income (cash flow hedging reserve). The ineffective portion of any resulting gain or loss is recognized in the income statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When a hedging instrument or hedge relationship is terminated but the hedged transaction is still expected to occur, the cumulative gain or loss (at that point) remains in other comprehensive income and is reclassified in accordance with the above policy when the hedged transaction occurs. If the hedged transaction is <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">no</div> longer probable, the cumulative gain or loss recognized in other comprehensive income is recycled into the income statement immediately.</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Fair value hedge accounting</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When a derivative financial instrument hedges the variability in fair value of a recognized asset or liability or a firm commitment, any resulting gain or loss on the hedging instrument is recognized in the income statement. The hedged item is also stated at fair value in respect of the risk being hedged, with any gain or loss being recognized in the income statement. The Company does <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> apply the fair value hedge accounting when the hedge item expires, was sold or exercised.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Net investment hedge accounting</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When a derivative financial instrument hedges the net investment in foreign operations, the effective part of any resulting gain or loss on the derivative financial instrument is recognized directly in other comprehensive income (translation reserve) , while any gains or losses relating to the ineffective portion are recognized in the income statement</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">On disposal of a foreign operation, the cumulative gains or losses recognized directly in other comprehensive income is transferred to the income statement.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt"><div style="display: inline; font-weight: bold;">Derivative financial instruments at fair value through profit or loss</div></div> <div style=" margin: 0pt 0; font-size: 10pt">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Certain derivative financial instruments do <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">not</div> qualify for hedge accounting purposes. Changes in fair value of such derivatives financial instruments are immediately recognized in income statement.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory', window );">Description of accounting policy for leases [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(y)</div></td> <td><div style="display: inline; font-weight: bold;">Accounting for operating leases</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">Leases of assets under which all the risks and rewards of ownership are substantially retained by the lessor are classified as operating leases. Payments made under operating leases are charged to the income statement on a straight-line basis over the term of the lease.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">When an operating lease is terminated before the lease period has expired, any payment required to be made to the lessor by way of penalty is recognized as an expense in the period in which termination takes place.</div></div></div></div></div></div></div></div></div></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfAccountingPolicyForGovernmentGrants', window );">Description of accounting policy for government grants [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; min-width: 700px;"> <tr style="vertical-align: top"> <td style="width: 0"></td> <td style="width: 0.25in"><div style="display: inline; font-weight: bold;">(z)</div></td> <td style="text-align: justify"><div style="display: inline; font-weight: bold;">Government grants</div></td> </tr> </table> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">The Company has benefits from Brazilian state tax incentive programs to promote industrial development including the deferral of payment of taxes. These State programs are to promote long-term increases in employment, industrial decentralization, as well as complement and diversify the industrial states.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">In the case of these States, the tax terms are foreseen in tax law. When conditions to obtain these grants exist, they are under the Company's control. The benefits for the postponement in the payment of such taxes are recorded in the income statement, on an accrual basis.</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; background-color: white">The interest rates and (or) terms of these loans are advantageous over the market conditions, such financing are considered as subsidized loans as determined by IAS <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20.</div> The referred subsidy consists of the gain earned when comparing the value of these operations in market to the value agreed in contract. Thereby, upon funding the subsidy calculated is recorded in Other operating income, following the treatment for the other ICMS subsidies. Management reviews annually the market conditions prevailing in the year to assess such subsidies.</div></div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify">&nbsp;</div> <div style=" margin: 0pt 0; font-size: 10pt; text-align: justify"><div style="display: inline; background-color: white">Monthly, taking into account the value of the consideration, the period to maturity, the financing contract interest rate and the above mentioned discount rate, the reduction in present value adjustment is allocated to financial income, so as to bring the balance to <div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">zero</div> by the time of settlement of each consideration.</div></div></div></div></div></div></div></div></div></div></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for new IFRS releases</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the accounting policy for the basis of consolidation.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForBorrowingsExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for derivative financial instruments. [Refer: Financial instruments, class [member]; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for employee benefits. Employee benefits are all forms of consideration given by an entity in exchange for services rendered by employees or for the termination of employment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForExceptionalItemsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for exceptional items.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForExceptionalItemsExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForExpensesExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for financial instruments. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for foreign currency translation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for the currency of the primary economic environment in which the entity operates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForGoodwillExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForGoodwillExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForGovernmentGrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for government grants, including the methods of presentation adopted in the financial statements. [Refer: Government [member]; Government grants]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 20<br> -IssueDate 2017-01-01<br> -Paragraph 39<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=20&amp;date=2017-03-01&amp;anchor=para_39_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForGovernmentGrants</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for the impairment of non-financial assets. [Refer: Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for income tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForIncomeTaxExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for intangible assets other than goodwill. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for issued capital. [Refer: Issued capital]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForIssuedCapitalExplanatory</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for leases. A lease is an agreement whereby the lessor conveys to the lessee in return for a payment or series of payments the right to use an asset for an agreed period of time.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for measuring inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 36<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_36_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForMeasuringInventories</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for provisions. [Refer: Provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for recognising revenue. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 18<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=18&amp;date=2017-03-02&amp;anchor=para_35_a&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for segment reporting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForSegmentReportingExplanatory</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for transactions in which the entity: (a) receives goods or services from the supplier of those goods or services (including an employee) in a share-based payment arrangement; or (b) incurs an obligation to settle the transaction with the supplier in a share-based payment arrangement when another group entity receives those goods or services. [Refer: Share-based payment arrangements [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for trade and other payables. [Refer: Trade and other payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy for trade and other receivables. [Refer: Trade and other receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 117<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_117_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The description of the entity's accounting policy used to determine the components of cash and cash equivalents. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 46<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_46&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6818633088">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Summary of Significant Accounting Policies (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory', window );">Disclosure of effect of changes in foreign exchange rates [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Closing rate</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Average rate</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Currency</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Name</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Country</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; font-size: 10pt">CAD</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Canadian Dollars</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Canada and Cuba</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.6380</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.4214</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.8124</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.4567</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.6348</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.5661</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">DOP</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dominican Pesos</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dominican republic</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0685</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0700</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0860</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0674</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0755</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0725</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">USD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">US Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Ecuador <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div>, Panam&aacute; and Cuba<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(ii)</div></div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.3080</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2591</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.9048</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2017</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.4749</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2596</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">GTQ</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Quetzal</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Guatemala</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4500</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4343</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.5129</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4344</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4570</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4265</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">PEN</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Novo Sol</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Peru <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.9720</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1440</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0269</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0396</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">ARS</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Argentinean Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Argentina</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1762</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.2056</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3003</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1931</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.2354</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3581</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">BOB</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Bolivian Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Bolivia</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4753</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4683</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.5610</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4600</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4993</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4683</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">PYG</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Guarani</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Paraguai</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0006</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0006</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0007</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0006</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0006</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0006</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">UYU</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Uruguayan Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Uruguay</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1151</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1114</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1304</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1116</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1166</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1197</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">CLP</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Chilean Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Chile</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0054</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0049</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0055</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0049</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0051</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0050</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">COP</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Peso colombiano</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Col&ocirc;mbia <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0011</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0012</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0011</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0012</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">BBD</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Barbadian Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Barbados</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6307</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6075</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.5783</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.7139</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfEstimatedUsefulLivesOfMajorPropertyPlantAndEquipmentClassesTextBlock', window );">Disclosure of estimated useful lives of major property, plant and equipment classes [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">Buildings (years)</td> <td style="width: 5%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 20%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">25</div></div></td> <td style="width: 5%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Plant and equipment (years)</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">15</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Fixtures (years)</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">10</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Fittings (years)</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">10</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">External use assets (years)</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> - </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of estimated useful lives of major property, plant and equipment classes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the effect of changes in foreign exchange rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2017-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=21&amp;date=2017-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6823765312">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 5 - Segment Reporting (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfReportableSegmentsTextBlock', window );">Disclosure of reportable segments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 8pt"><div style="display: inline; font-weight: bold;">Latin America - north <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 8pt"><div style="display: inline; font-weight: bold;">Latin America - south <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(ii)</div></div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Canada</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="10" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Consolidated</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="2" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Net sales</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,086.0</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,927.8</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,654.9</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,769.7</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,212.9</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,255.6</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,043.6</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,461.9</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,809.7</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47,899.3</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45,602.6</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46,720.2</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt">Cost of sales</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11,935.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10,870.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,921.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,122.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,685.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,306.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,984.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,122.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,833.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(18,041.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16,678.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16,061.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Gross profit</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,151.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,057.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,733.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,647.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,527.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,948.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,059.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,339.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,976.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,857.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,924.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,658.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 8pt; text-align: left">Distribution expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,193.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,965.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,709.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,007.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(979.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,047.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,093.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,140.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,076.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,295.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,085.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,833.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Sales and marketing expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,655.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,671.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,264.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,091.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,317.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,294.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(873.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(936.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(785.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,620.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,925.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,344.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Administrative expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,954.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,486.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,599.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(384.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(400.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(428.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(285.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(279.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(253.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,623.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,166.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,281.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Other operating income/(expenses)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,170.5</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,283.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,871.5</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(39.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(21.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,217.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,223.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,936.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Exceptional items</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(56.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,183.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(273.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(41.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(41.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(39.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(43.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(108.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,134.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(357.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Income from operations (EBIT)</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,462.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,401.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,757.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,163.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,749.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,198.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,801.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,954.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,821.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,426.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,105.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,778.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Net finance cost</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,693.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,694.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,842.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(709.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(439.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(868.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(91.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">431.5</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">443.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,493.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,702.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,268.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">Share of result of joint ventures</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Income before income tax</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,764.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,700.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,916.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,453.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,310.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,330.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,712.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,387.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,266.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,929.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,398.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,513.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Income tax expense</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,309.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,100.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,884.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,144.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(814.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,154.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(625.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(601.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(595.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,079.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(315.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,634.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Net income</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,454.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,800.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,032.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,309.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,496.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,176.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,086.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,786.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,670.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,850.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,083.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,879.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 8pt"><div style="display: inline; font-weight: bold;">Normalized EBITDA<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(iii)</div></div></div></td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,233.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,805.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,274.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,866.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,501.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,877.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,047.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,176.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,057.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,147.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,483.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,209.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Exceptional items</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(56.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,183.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(273.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(41.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(41.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(39.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(43.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(108.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,134.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(357.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Depreciation. amortization and impairment</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,715.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,586.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,242.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(662.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(710.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(639.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(234.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(214.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(192.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,612.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,512.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,074.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Net finance costs</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,693.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,694.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,842.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(709.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(439.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(868.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(91.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">431.5</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">443.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,493.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,702.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,268.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt">Share of result of joint ventures</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Income tax expense</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,309.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,100.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,884.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,144.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(814.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,154.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(625.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(601.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(595.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,079.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(315.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,634.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Net income</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,454.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,800.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,032.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,309.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,496.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,176.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,086.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,786.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,670.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,850.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,083.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,879.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Normalized EBITDA margin in %</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">51.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Acquisition of property, plant and equipment</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,862.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,352.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,442.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,051.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,365.5</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,654.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">292.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">317.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">285.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,206.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,035.4</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,381.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Segment assets</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">48,811.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50,935.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47,282.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,558.5</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,149.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,757.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,204.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,245.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,264.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">70,575.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">71,329.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">69,304.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Intersegment elimination</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,077.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,968.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,996.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Non-segmented assets</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,354.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,479.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,868.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Total assets</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">86,851.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">83,841.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">90,176.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Segment liabilities</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23,031.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,958.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,998.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,015.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,576.4</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,093.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,700.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,275.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,608.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32,747.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,811.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,701.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Intersegment elimination</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,077.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,968.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,996.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Non-segmented liabilities</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,182.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">55,998.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">62,471.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Total liabilities</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">86,851.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">83,841.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">90,176.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="35" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Latin America - north</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center">CAC</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center">Brazil</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center">Total</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt; text-align: center">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Net sales</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,733.0</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,973.2</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,328.8</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,353.0</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,954.6</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,326.1</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,086.0</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,927.8</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29,654.9</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt">Cost of sales</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,045.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,798.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,563.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,889.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,071.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8,358.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11,935.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10,870.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,921.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Gross profit</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,687.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,174.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,765.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,463.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,882.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,967.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,151.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,057.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,733.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 8pt; text-align: left">Distribution expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(538.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(409.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(357.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,655.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,555.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,352.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,193.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,965.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,709.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Sales and marketing expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(526.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(456.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(390.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,129.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,214.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,873.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,655.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,671.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,264.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Administrative expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(265.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(171.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(158.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,689.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,314.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,441.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,954.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,486.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,599.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Other operating income/(expenses)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">77.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,092.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,274.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,871.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,170.5</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,283.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,871.4</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Exceptional items</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,196.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(265.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(56.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,183.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(273.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Income from operations (EBIT)</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,412.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,132.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">851.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,049.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,269.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,906.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,462.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,401.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,757.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Net finance cost</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(46.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,646.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,685.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,885.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,693.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,694.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,842.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">Share of result of joint ventures</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Income before income tax</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,371.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,142.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">894.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,392.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,558.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,022.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,764.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,700.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,916.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Income tax expense</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(353.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(318.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(269.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,956.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,418.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,615.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,309.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,100.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,884.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Net income</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,018.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">823.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">624.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,436.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,976.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,407.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,454.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,800.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,032.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 8pt"><div style="display: inline; font-weight: bold;">Normalized EBITDA<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(iii)</div></div></div></td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,842.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,483.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,173.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,391.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,321.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,100.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,233.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,805.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,274.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Exceptional items</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(23.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,196.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(265.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(56.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,183.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(273.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Depreciation, amortization and impairment</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(406.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(338.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(314.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,309.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,248.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,928.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,715.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,586.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,242.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Net finance costs</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(46.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,646.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,685.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,885.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,693.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,694.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,842.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt">Share of result of joint ventures</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Income tax expense</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(353.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(318.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(269.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,956.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,418.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,615.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,309.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,100.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,884.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Net income</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,018.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">823.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">624.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,436.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,977.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,407.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,454.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,800.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,032.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Normalized EBITDA margin in %</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">37.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">51.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="35" style="font-size: 8pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Brazil</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center">Beer</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center">Soft drink and <br /> Non-alcoholic and <br /> non-carbonated</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="11" style="font-size: 8pt; font-weight: bold; text-align: center">Total</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 8pt; font-weight: bold; text-align: right">2015</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td colspan="3" style="font-size: 8pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Net sales</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,509.3</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21,173.1</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,441.3</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,843.7</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,781.5</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,884.8</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,353.0</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,954.6</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 8pt">&nbsp;</td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,326.1</div></td> <td style="width: 1%; font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt">Cost of sales</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,895.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7,339.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,757.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,994.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,731.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,600.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,889.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9,071.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8,358.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Gross profit</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,614.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,833.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,683.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,849.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,049.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,284.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,463.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,882.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,967.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 8pt; text-align: left">Distribution expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,961.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,891.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,754.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(694.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(663.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(598.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,655.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,555.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,352.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Sales and marketing expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,953.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,044.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,691.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(175.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(170.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(182.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,129.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,214.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,873.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Administrative expenses</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,476.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,160.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,341.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(212.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(154.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(99.9</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,689.1</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,314.6</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,441.4</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Other operating income/(expenses)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">825.0</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">969.8</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,551.2</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">267.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">304.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">320.4</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,092.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,274.1</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,871.6</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Exceptional items</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(28.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,014.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(265.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">182.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,196.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(265.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Income from operations (EBIT)</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,020.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,721.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,182.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,029.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,547.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,723.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,049.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,269.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,906.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Net finance cost</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,646.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,685.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,885.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,646.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,685.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,885.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">Share of result of joint ventures</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Income before income tax</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,362.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,010.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,299.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,029.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,547.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,723.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,392.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,558.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,022.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Income tax expense</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,956.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,418.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,615.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,956.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,418.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,615.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Net income</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,406.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,429.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,683.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,029.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,547.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,723.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,436.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,976.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,407.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 8pt"><div style="display: inline; font-weight: bold;">Normalized EBITDA <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,047.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,618.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,038.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,344.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,702.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,061.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,391.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,321.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,100.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Exceptional items</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(28.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,014.3</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(265.2</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">182.4</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,196.7</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(265.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; text-align: left">Depreciation, amortization and impairment</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,999.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,911.5</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,590.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(310.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(337.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(338.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,309.0</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,248.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,928.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left">Net finance costs</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,646.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,685.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,885.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,646.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,685.3</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,885.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt">Share of result of joint ventures</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.7</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25.8</div></td> <td style="font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt; text-align: left; padding-bottom: 1pt">Income tax expense</td> <td style="font-size: 8pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,956.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,418.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,615.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,956.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,418.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,615.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 8pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Net income</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,406.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,429.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,683.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,029.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,547.7</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,723.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,436.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,976.9</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,407.3</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> <td style="font-size: 8pt; text-align: right">&nbsp;</td> <td style="font-size: 8pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 8pt; font-weight: bold; text-align: left">Normalized EBITDA margin in %</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">44.5</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.8</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45.0</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53.1</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43.2</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45.4</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 8pt; font-weight: bold">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 8pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53.6</div></td> <td style="font-size: 8pt; font-weight: bold; text-align: left">%</td> </tr> </table></div><span></span>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6818633088">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Net Sales (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfTheReconciliationBetweenGrossSalesAndNetSalesTextBlock', window );">Disclosure of the reconciliation between gross sales and net sales [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Gross sales <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">72,411.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">79,551.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">97,214.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Excise duty</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16,192.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16,345.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(17,471.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">Discounts <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8,318.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(17,603.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33,022.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47,899.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">45,602.6</div></td> <td style="font-size: 10pt; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the of reconciliation between gross sales and net sales.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6818636672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Other Operating Income/(Expenses) (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfOtherOperatingIncomeExpensePortionsTextBlock', window );">Disclosure of other operating income (expense) portions [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Government grants/NPV of long term fiscal incentives</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">993.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,166.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,755.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">(Additions)/reversals to provisions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(132.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(106.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Gains/(losses) on disposal of property, plant and equipment, intangible assets and operation in associates</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">70.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other operating income/(expenses), net</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">145.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">118.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">233.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,217.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,223.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,936.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the portions of the other operating income (expense) portions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802036880">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Exceptional Items (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfExceptionalItemsIncludedInTheIncomeStatementTextBlock', window );">Disclosure of exceptional items included in the income statement [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Result through exchange transaction of shareholdings<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,240.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Restructuring</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(105.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(79.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(63.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Administrative lawsuit</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(239.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Costs arising from business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(29.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(48.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(108.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,134.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(357.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6827357072">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Payroll and Related Benefits (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfPayrollAndRelatedBenefitsTextBlock', window );">Disclosure of payroll and related benefits [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Wages and salaries</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,371.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,038.9</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,086.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Social security contributions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">741.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">727.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">756.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Other personnel cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">616.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">613.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">561.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Increase in liabilities for defined benefit plans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">138.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">151.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">142.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Share-based payment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">236.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">189.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">209.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Contributions to defined contribution plans</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,123.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,746.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,774.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfPayrollAndRelatedBenefitsAffectingTheIncomeStatementTextBlock', window );">Disclosure of payroll and related benefits affecting the income statement [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt">Cost of sales</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,714.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,912.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,890.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Distribution expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">791.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">780.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">722.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Sales and marketing expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,096.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">989.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">980.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Administrative expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,470.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">970.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,154.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Net finance cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Exceptional items</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,123.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,746.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,774.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DisclosureOfPayrollAndRelatedBenefitsAffectingTheIncomeStatementTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the payroll and related benefits affecting the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DisclosureOfPayrollAndRelatedBenefitsAffectingTheIncomeStatementTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<td>nonnum:textBlockItemType</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DisclosureOfPayrollAndRelatedBenefitsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of payroll and related benefits of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DisclosureOfPayrollAndRelatedBenefitsTextBlock</td>
</tr>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6608859952">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 10 - Additional Information on Operating Expenses by Nature (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDepreciationAndAmortisationExpenseExplanatory', window );">Disclosure of depreciation and amortisation expense [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center">Depreciation and impairment of property, plant and equipment</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center">Amortization of intangible assets</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 22%; font-size: 10pt">Cost of sales</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,364.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,283.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,053.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Distribution expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">197.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">200.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">177.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Sales and marketing expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">532.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">538.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">431.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">142.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">222.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">162.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Administrative expenses</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">231.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">182.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">165.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">142.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">81.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,325.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,204.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,828.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of depreciation and amortisation expense. [Refer: Depreciation and amortisation expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801996848">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Finance Cost and Income (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinanceCostExplanatory', window );">Disclosure of finance cost [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Interest expense</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,571.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,547.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,062.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Capitalized borrowings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Net Interest on pension plans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(77.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(105.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(97.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Losses on hedging instruments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(616.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,575.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,267.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Interest on provision for disputes and litigations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(225.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(619.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(120.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Exchange variation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(339.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(310.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(721.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Tax on financial transactions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(179.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(224.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(146.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Bank guarantee expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(89.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(87.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(80.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other financial results</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(193.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(132.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(92.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,291.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,597.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,562.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Non-recurring finance cost</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(976.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,268.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,597.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,562.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInterestExpenseExplanatory', window );">Disclosure of interest expense [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Financial liabilities measured at amortized cost</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(477.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(545.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(423.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Liabilities at fair value through profit or loss</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,076.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(961.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(601.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Fair value hedge - hedged items</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(49.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(22.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Fair value hedge - hedging instruments</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(15.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,571.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,547.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,062.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinanceIncomeExplanatory', window );">Disclosure of finance income [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Interest income</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">458.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">513.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">575.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Gains on derivative</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">73.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">113.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">428.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Financial assets at fair value through profit or loss</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">227.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">247.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">261.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other financial results</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">774.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">895.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,294.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInterestIncomeExplanatory', window );">Disclosure of interest income [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Cash and cash equivalents</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">233.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">241.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">425.9</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Investment securities held for trading</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">51.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">149.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other receivables</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">198.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">221.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">458.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">513.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">575.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of finance cost. [Refer: Finance costs]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of finance income. [Refer: Finance income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of interest expense. [Refer: Interest expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of interest income. [Refer: Interest income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6818700480">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Income Tax and Social Contribution (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfIncomeTaxExplanatory', window );">Disclosure of income tax [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left">Income tax expense - current</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,332.3</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(413.9</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,227.8</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Deferred tax expense on temporary differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">891.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(732.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,192.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Deferred tax over taxes losses carryforwards movements&nbsp;&nbsp;in the current period</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(638.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">831.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(214.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total deferred tax (expense)/income</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">253.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">98.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,406.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total income tax expenses</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,079.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(315.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,634.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfReconciliationFromTheWeightedNominalToTheEffectiveTaxRateTextBlock', window );">Disclosure of reconciliation from the weighted nominal to the effective tax rate [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left">Income before tax</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,929.8</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,398.4</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,513.4</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Adjustment on taxable basis</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Non-taxable income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(310.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(392.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(999.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Government grants related to sales taxes</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,889.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,528.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,360.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Share of results of joint ventures</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Non-deductible expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">539.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">415.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Complement of income tax of foreign subsidiaries due in Brazil</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">560.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">148.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,965.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Results of intercompany transactions non-taxable/not deductible in Brazil</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(547.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">640.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,313.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,836.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,810.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,217.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Aggregated weighted nominal tax rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.22</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30.16</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31.59</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Taxes payable &#x2013; nominal rate</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,166.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,864.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,806.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Adjustment on tax expense</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Regional incentives - income taxes</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">304.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">264.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">257.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Deductible interest on shareholders' equity</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,649.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,867.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,646.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Tax savings from goodwill amortization on tax books</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">175.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">142.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">142.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Withholding tax over undistributed profits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(356.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">153.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(672.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Recognition / write-off of deferred charges on tax losses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(178.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">796.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">138.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">PERT 2017</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,784.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Others with reduced taxation</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(721.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">325.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(339.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Income tax and social contribution expense</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,079.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(315.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,634.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Effective tax rate</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.28</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.35</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">%</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22.01</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">%</td> </tr> </table></div><span></span>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802112160">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 13 - Property, Plant and Equipment (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutPropertyPlantAndEquipmentExplanatory', window );">Disclosure of detailed information about property, plant and equipment [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Land and buildings</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Plant and equipment</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Fixtures and fittings</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Under construction</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Acquisition cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,330.2</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,764.3</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,584.2</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,740.7</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">37,419.4</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Effect of movements in foreign exchange</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(27.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">228.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(24.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">204.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Acquisitions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">626.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">171.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,367.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,175.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Disposals</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(25.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(555.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(125.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(706.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Transfer to other asset categories</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">415.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,657.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">473.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,857.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(310.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">36.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,961.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,538.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,076.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,257.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39,835.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Depreciation and Impairment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,278.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13,075.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,912.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(18,265.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Foreign exchange effects</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(104.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(116.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Depreciation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(299.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,245.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(655.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,200.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Impairment losses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(125.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(125.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Disposals and write-off</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">539.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">109.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">654.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Transfer to other asset categories</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,585.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(14,973.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,453.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(21,012.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Carrying amount:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,052.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,689.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,672.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,740.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,153.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">December 31, 2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,376.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,565.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,623.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,257.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,822.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Land and buildings</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Plant and equipment</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fixtures and fittings</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Under construction</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Acquisition cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,718.3</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,369.6</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,465.1</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,132.6</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">36,685.6</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Effect of movements in foreign exchange</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(474.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,528.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(427.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(222.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,652.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Acquisitions through business combinations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">283.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">360.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">56.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">700.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Acquisitions through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">221.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">185.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">433.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Disposals through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(121.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(344.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(101.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(571.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Acquisitions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">819.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">276.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,905.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,009.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Disposals</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(106.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(693.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(210.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,012.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Transfer to other asset categories</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">800.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,595.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">526.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,095.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(173.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,330.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,764.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,584.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,740.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">37,419.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Depreciation and Impairment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,244.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12,562.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,738.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(17,545.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Foreign exchange effects</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">804.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">236.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,137.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Disposals through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">241.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">51.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">345.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Depreciation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(277.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,117.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(688.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,083.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Impairment losses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(120.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(120.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Disposals</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">646.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">187.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">928.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Transfer to other asset categories</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">61.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,278.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13,075.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,912.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(18,265.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Carrying amount:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">December 31, 2015</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,474.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,807.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,726.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,132.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,140.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,052.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,689.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,672.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,740.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,153.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6823765312">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 14 - Goodwill (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfReconciliationOfChangesInGoodwillExplanatory', window );">Disclosure of reconciliation of changes in goodwill [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; font-weight: bold; text-align: left">Balance at end of previous year</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,511.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,953.1</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Effect of movements in foreign exchange</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">489.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,388.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">Acquisition and disposal through business combinations <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">401.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,947.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at the end of year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,401.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,511.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfInformationForIndividualAssetOrCashgeneratingUnitWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesExplanatory', window );">Disclosure of information for cash-generating units [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; padding-bottom: 1pt">Functional currency</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">LAN:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 61%; font-size: 10pt">Brazil</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: center">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">BRL</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,668.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,424.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-indent: 10pt">Goodwill</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">102,911.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">102,667.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-indent: 10pt">Non-controlling transactions (i)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="text-align: center">&nbsp;</td> <td style="text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(85,242.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(85,242.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Dominican Republic</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">DOP</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,163.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,224.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Cuba <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(ii)</div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">USD</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Panama</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">PAB</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,149.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,060.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">LAS:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Argentina</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ARS</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">443.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">518.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Bolivia</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">BOB</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,170.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,152.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Chile</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">CLP</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Paraguay</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">PYG</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">786.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">753.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Uruguay</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">UYU</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">170.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">165.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">NA:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Canada</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: center">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">CAD</div></div></td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,800.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,165.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,401.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30,511.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory', window );">Disclosure of significant unobservable inputs used in fair value measurement of assets [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right">2016</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="width: 74%; font-size: 10pt; text-align: left">Latin America North</td> <td nowrap="nowrap" style="width: 1%; font-size: 10pt">&nbsp;</td> <td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">from 8.59%</div></td> <td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to</div></div></td> <td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.29%</div></td> <td nowrap="nowrap" style="width: 1%; font-size: 10pt">&nbsp;</td> <td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">from 8.39%</div></td> <td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to</div></div></td> <td nowrap="nowrap" style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.27%</div></td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of information for cash-generating units. [Refer: Cash-generating units [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 134<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_134&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the reconciliation of changes in goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of significant inputs for which market data are not available and that are developed using the best information available about the assumptions that market participants would use when measuring the fair value of assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfSignificantUnobservableInputsUsedInFairValueMeasurementOfAssetsExplanatory</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801904816">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 15 - Intangible (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutIntangibleAssetsExplanatory', window );">Disclosure of detailed information about intangible assets [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Distribution</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Brands</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">contracts</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Software</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Others</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Total</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Acquisition cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,160.8</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,319.4</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">888.5</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">460.7</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,829.4</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Effect of movements in foreign exchange</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Acquisitions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Acquisitions through business combination</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Transfers to other assets categories</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(650.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">265.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(352.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">46.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end of year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,514.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,333.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,144.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">540.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,533.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Amortization and Impairment losses<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,760.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(597.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(223.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,583.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Foreing exchange effects</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(138.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(118.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(290.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Transfers to other assets categories</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end of year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,894.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(711.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(250.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,858.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Carrying amount:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,158.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">558.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">291.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">236.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,245.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">December 31, 2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,512.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">438.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">432.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">290.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,674.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Distribution</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Brands</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">contracts</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Software</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Others</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Total</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Acquisition cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 35%; font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,908.2</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,387.4</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">788.4</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">356.8</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,440.8</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Effect of movements in foreign exchange</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(645.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(68.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(50.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(93.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(858.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Acquisitions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Disposal</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Acquisitions through business combination</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,043.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,073.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Acquisitions through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">228.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">248.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Disposals through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(58.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(67.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Transfers to other assets categories</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(317.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">135.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(24.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(206.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">172.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">172.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end of year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,160.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,319.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">888.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">460.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,829.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Amortization and Impairment losses (i)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Balance at end of previous year</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,622.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(539.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(184.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,348.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Foreing exchange effects</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">79.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Amortization</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(148.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(94.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(80.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(323.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Disposal</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Disposals through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Transfers to other assets categories</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Balance at end of year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,760.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(597.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(223.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,583.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Carrying amount:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">December 31, 2015</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,906.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">765.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">248.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">172.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,092.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,158.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">558.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">291.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">236.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,245.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfIntangibleAssetsWithIndefiniteUsefulLifeExplanatory', window );">Disclosure of intangible assets with indefinite useful life [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt">Argentina</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">348.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">373.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Bolivia</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">567.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">558.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Brazil</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">575.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Canada</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">223.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">205.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Chile</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">69.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">63.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Luxembourg</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">339.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">419.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Paraguay</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">447.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">429.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Dominican Republic</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,396.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,422.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Uruguay</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">115.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">111.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,512.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,158.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6803414432">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 16 - Investment Securities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfInvestmentSecuritiesPortionsTextBlock', window );">Disclosure of investment securities portions [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">Debt held-to-maturity <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">122.0</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104.3</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Non-current investments securities</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">122.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Financial asset at fair value through profit or loss-held for trading</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">282.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Current investments securities</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">282.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">133.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">387.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Refers to information regarding the disclosure of investment securities portions.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6823680864">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 17 - Deferred Income Tax and Social Contribution (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfTheAppliedRatesForDeferredIncomeAndSocialContributionTextBlock', window );">Disclosure of the applied rates for deferred income and social contribution [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; font-size: 10pt; text-align: left">Central America and the Caribbean</td> <td nowrap="nowrap" style="width: 5%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">from 23%</div></td> <td style="width: 20%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to</div></div></td> <td style="width: 5%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31%</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Latin America <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">from 14%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35%</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Canada</td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">26%</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsExplanatory', window );">Disclosure of temporary difference, unused tax losses and unused tax credits [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Assets</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Liabilities</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Net</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Assets</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Liabilities</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Net</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 34%; font-size: 10pt; text-align: left">Investment securities</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Intangible</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(719.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(719.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(733.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(733.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Employee benefits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">631.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">631.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">467.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">467.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade payables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,382.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(314.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,068.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">977.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(531.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">446.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trade receivable</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Derivatives</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">71.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(110.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(39.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Inventories</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">248.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(18.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">230.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">267.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">253.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Property, plant and equipment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(920.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(920.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(905.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(905.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Withholding tax over undistributed profits and royalties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(788.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(788.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(684.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(684.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Investments in associates</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(421.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(421.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(421.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(421.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Loss carryforwards</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">501.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">501.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,139.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,139.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Provisions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">347.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(39.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">307.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">448.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(44.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">404.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other items</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(15.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(24.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(39.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Gross deferred tax assets / (liabilities)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,208.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,258.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(49.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,409.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,471.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(61.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Netting by taxable entity</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(929.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">929.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,141.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,141.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Net deferred tax assets / (liabilities)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,279.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,329.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(49.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,268.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,329.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(61.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfTheRealizationOfDeferredTaxAssetsAndLiabilitiesTextBlock', window );">Disclosure of the realization of deferred tax assets and liabilities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Deferred taxes not related to tax losses</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">to be realized until 12 months</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">to be realized after 12 months</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Total</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 67%; font-size: 10pt; text-align: left">Investment securities</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Intangible assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(719.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(719.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Employee benefits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">112.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">518.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">631.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade payables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,382.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(314.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,068.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trade receivable</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Derivatives</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Inventories</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">230.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">230.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Property, plant and equipment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(58.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(862.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(920.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Withholding tax over undistributed profits and royalties</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(788.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(788.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Investments in associates</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(421.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(421.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Provisions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">215.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">307.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other items</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,807.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,358.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(550.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfDeferredTaxRealizationRelatedToTaxLossesTextBlock', window );">Disclosure of deferred tax realization related to tax losses [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt; text-align: left">Deferred tax related to tax losses</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 87%; font-size: 10pt; text-align: left">2018</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">209.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">2019</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">98.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">2020</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">2021</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">A partir de 2022 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">167.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">501.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfTheReconciliationOfChangesInDeferredTaxLiabilityAssetTextBlock', window );">Disclosure of the reconciliation of changes in deferred tax liability (asset) [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 87%; font-size: 10pt; font-weight: bold">At December 31, 2015</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">276.3</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Full recognition of actuarial gains/(losses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Investment hedge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Investment hedge - put option of a subsidiary interest</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(364.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Cash flow hedge - gains/(losses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">536.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Gains/losses on translation of other foreign operations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(578.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Recognized in other comprehensive income</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(360.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Recognized in income statement</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">98.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Changes directly in balance sheet</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Recognized in deferred tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(21.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Anticipation federal amnesty</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(54.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(61.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Full recognition of actuarial gains/(losses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Investment hedge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(262.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Investment hedge - put option of a subsidiary interest</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(31.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Cash flow hedge - gains/(losses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(269.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; text-indent: 27pt">Gains/(losses) on translation of other foreign operations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">136.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Recognized in other comprehensive income</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(387.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt">Recognized in income statement</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">253.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Changes directly in balance sheet</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">146.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Recognized in deferred tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Recognized in other group of balance sheet</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">110.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(49.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of deferred tax realization related to tax losses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the realization of deferred tax assets and liabilities of the entity.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The reconciliation of the reconciliation of changes in deferred tax liability (asset).</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of types of temporary differences, unused tax losses and unused tax credits. [Refer: Unused tax credits [member]; Unused tax losses [member]; Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801907792">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 18 - Inventories (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfInventoryComponentsTextBlock', window );">Disclosure of inventory components [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Finished goods</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,528.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,445.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Work in progress</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">309.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">328.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Raw material</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,816.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,962.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Consumables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">77.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Spare parts and other</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">476.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">447.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Prepayments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">210.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">234.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Impairment losses</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(100.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(121.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,319.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,347.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of inventory components.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822530544">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 19 - Trade Receivables (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfCurrentTradeReceivablesTextBlock', window );">Disclosure of current trade receivables [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Trade receivables</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,335.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,774.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Bad debt provision</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(521.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(443.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Net, trade receivables</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,814.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,330.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Related parties</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">130.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">37.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total current trade receivables</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,944.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,368.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfMaturityOfTheCurrentTradeReceivablesTextBlock', window );">Disclosure of maturity of the current trade receivables [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Net carrying amount as of December 31,</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">No past due</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Past due &#x2013; until 30 days</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Past due &#x2013; between 31 - 60 days</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Past due &#x2013; between 61 - 90 days</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Past due &#x2013; between 91 - 180 days</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Past due &#x2013; between 181 - 360 days</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Past due 360 days</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; font-size: 10pt; text-align: left">Trade receivables</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,335.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,343.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">340.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">63.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">85.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">427.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Bad debt provision</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(521.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(45.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(42.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(427.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,814.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,339.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">340.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">62.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trade receivables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,774.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,093.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">187.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">352.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Bad debt provision</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(443.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(38.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(352.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,330.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,086.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">186.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of current trade receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the maturity of the current trade receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6827357072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 20 - Cash and Cash Equivalents (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfComponentsInCashAndCashEquivalentsTextBlock', window );">Disclosure of components in cash and cash equivalents [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Short term bank deposits <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,688.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,027.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Current bank accounts</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,077.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,467.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Cash</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">588.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">381.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Cash and cash equivalents</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,354.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,876.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Bank overdrafts</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Cash and cash equivalents less bank overdraft</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,352.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,876.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the components of cash and cash equivalents.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<html>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6806075792">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Changes in Equity (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfIssuedCapitalExplanatory', window );">Disclosure of issued capital [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Million of common shares</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Million of Real</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Million of common shares</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Million of Real</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; font-size: 10pt; text-align: left">Beginning balance as per statutory books</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,717.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,614.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,717.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,614.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Share issued</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,717.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,614.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,717.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57,614.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfClassesOfShareCapitalExplanatory', window );">Disclosure of classes of share capital [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Capital Reserves</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Treasury shares</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Share <br /> Premium</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Others capital reserves</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Share-based Payments</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; font-size: 10pt; font-weight: bold; text-indent: 10pt">At December 31, 2015</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,003.5</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53,662.8</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">700.9</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,013.4</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">54,373.6</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Purchase of shares and result on treasury shares</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">94.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">94.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Share-based payments</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">61.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">61.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-indent: 10pt">At December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(908.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53,662.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">700.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,074.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">54,529.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Purchase of shares and result on treasury shares</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Share-based payments</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">157.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">157.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-indent: 10pt">At December 31, 2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(895.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">53,662.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">700.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,232.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">54,701.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTreasurySharesExplanatory', window );">Disclosure of treasury shares [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Acquire /realization shares</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Result on Treasure Shares</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total Treasure Shares</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Thousands shares</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Thousands Brazilian Real</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Thousands shares</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Thousands Brazilian Real</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td colspan="2">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td colspan="2">&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; font-size: 10pt; font-weight: bold">At December 31, 2015</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32.6</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(617.5</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(386.1</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,003.5</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Changes during the year</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">304.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(209.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">94.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(312.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(596.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(908.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Changes during the year</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">173.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(159.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(139.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(755.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(895.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfNetIncomeReservesTextBlock', window );">Disclosure of net income reserves [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="18" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Net income reserves</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Investments reserve</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Statutory reserve</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Fiscal incentive</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Interest on capital and dividends proposed</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; font-size: 10pt; font-weight: bold">At December 31, 2015</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,141.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,016.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,039.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,201.1</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Interest on shareholder&acute;s equity</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,039.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,039.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Destination of net income</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,718.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,819.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,538.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,859.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,835.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,700.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Interest on shareholder&acute;s equity</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,770.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,770.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Fiscal incentive reserve</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,552.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,552.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Investments reserve</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,177.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,177.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,267.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,388.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,660.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfInterestOnShareholdersEquityAndDividendsTextBlock', window );">Disclosure of interest on shareholders' equity and dividends [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Event</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Approval</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Type</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Date of payment</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Type of share</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Amount per share</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total amount</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">05/16/2017</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 12%; font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">07/17/2017</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1600</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,513.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12/01/2017</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest on shareholder&acute;s equity</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12/28/2017</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3100</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,869.7</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Board of Directors Meeting</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12/21/2017</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">02/22/2018</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2017</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0700</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,099.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,482.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Event</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Approval</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Type</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Date of payment</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Year</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Type of share</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Amount per share</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total amount</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">01/15/2016</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest on shareholder&acute;s equity</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">02/29/2016</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2015</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1300</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,039.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">06/24/2016</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">07/29/2016</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1300</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,040.8</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">10/19/2016</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">11/25/2016</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1600</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,511.9</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1/12/2016</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest on shareholder&acute;s equity</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12/29/2016</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.2200</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,454.2</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Board of Directors Meeting</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12/22/2016</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">02/23/2017</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2016</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0700</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,099.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,145.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Event</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: center">Approval</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Type</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Date of payment</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Type of share</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Ammount per share</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total amount</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 14%; font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">02/23/2015</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 14%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest on shareholders&#x2019; equity</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">03/31/2015</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0300</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 11%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">471.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">02/23/2015</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest on shareholders&#x2019; equity</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">03/31/2015</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.0600</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">943.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">05/13/2015</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest on shareholders&#x2019; equity</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">06/29/2015</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1000</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,570.6</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Board of Directors Meeting</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">08/28/2015</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">09/28/2015</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1500</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,352.4</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid">Board of Directors Meeting</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12/01/2015</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; text-align: left; border-bottom: Black 1pt solid"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest on shareholders&#x2019; equity</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12/30/2015</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">ON</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1500</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,352.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,690.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfChangesInCarryingValueOfEquityTextBlock', window );">Disclosure of changes in carrying value of equity [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="30" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Carrying value adjustments</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Translation reserves</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Cash flow hedge</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Actuarial gains/ (losses)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Options granted on subsidiary</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Gains/(losses) of non-controlling interest&acute;s share</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Business combination</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Accounting adjustments for transactions between shareholders</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="width: 12%; font-size: 10pt; font-weight: bold">At December 31, 2015</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,472.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">932.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,131.5</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,246.7</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,123.6</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">156.1</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75,162.9</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(71,857.0</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; font-style: italic; text-align: left">Comprehensive income:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Gains/(losses) on translation of foreign operations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,728.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,728.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Cash flow hedges</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,076.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,076.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Actuarial gains/(losses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(130.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(130.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total Comprehensive income</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,728.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,076.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(130.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,936.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Options granted on subsidiary</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(144.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(144.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Gains/(losses) of controlling interest&acute;s share</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Reversal effect of revaluation of fixed assets by previous cost</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(289.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(144.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,262.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,390.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,150.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">156.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75,238.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(77,019.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-style: italic; text-align: left">Comprehensive income:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Gains/(losses) on translation of&nbsp;&nbsp;foreign operations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,928.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,928.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Cash flow hedges</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">513.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">513.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Actuarial gains/(losses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">117.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">117.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total Comprehensive income</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,928.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">513.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">117.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,559.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Put option granted on subsidiary</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(380.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(380.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Gains/(losses) of controlling interest&acute;s share</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Tax on fictitious dividends</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(38.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(38.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Reversal effect revaluation of fixed assets under the predecessor basis accounting</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">At December 31, 2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,639.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">368.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,144.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,771.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,099.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">156.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(75,314.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(74,966.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfEarningsPerShareExplanatory', window );">Disclosure of earnings per share [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">Million shares</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt"><div style="display: inline; font-size: 10pt">Issued shares at December 31, net of treasury shares <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,705.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,696.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,696.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Effect of shares options</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">132.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">126.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">124.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Weighted average number of shares (diluted) at December 31</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,838.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,823.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,820.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EarningsPerShareExplanatory', window );">Earnings per share [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Common</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Income attributable to equity holders of Ambev</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,332.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,546.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,423.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Weighted average number of shares (non diluted)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,705.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,696.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,696.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Basic EPS (i)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.47</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.80</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.79</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Income attributable to equity holders of Ambev</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,332.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,546.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,423.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">Weighted average numbers of shares (diluted)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,838.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,823.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,820.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Diluted EPS (i)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.46</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.79</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.79</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureForTheBasisOfDividendsTextBlock', window );">Disclosure for the basis of dividends [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left">Net income, attributable to equity holders of Ambev</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,332.0</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,546.6</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,423.8</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Prescribed dividends</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">34.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Reversal effect of revaluation of fixed assets by predecessor</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">75.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">75.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">75.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Retained earnings basis for dividends and destinations</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,442.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,644.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,515.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Dividends and Interest on capital distributed and accrued to distribute based on net income for the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Dividends and Interest on capital paid based on profit</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,612.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,651.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,218.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Dividends approved for distribution</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,099.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,454.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,039.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total of dividends and Interest on capital</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,712.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,106.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,257.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Percentage of distributed profit</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">63</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">72</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">74</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Interest on capital distributed and accrued to distribute based on the investment reserve</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest on capital paid based on the investment reserve</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,770.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total of Interest on capital</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,770.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total of distributed and accrued to distribute</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8,482.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,106.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,257.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Percentage of distributed profit</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">114</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">72</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">74</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure for the basis of dividends.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of changes in carrying value in equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of interest on shareholders' equity and dividends.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of net income reserves.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of classes of share capital. [Refer: Share capital [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_79_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for earnings per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2017-01-01<br> -Section Disclosure<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2017-03-01&amp;anchor=sect_Disclosure&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of issued capital. [Refer: Issued capital]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of treasury shares. [Refer: Treasury shares]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of earnings per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2017-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2017-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6800504672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 22 - Interest-bearing Loans and Borrowings (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfTotalLiabilitiesTextBlock', window );">Disclosure of total liabilities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Secured bank loans</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">589.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">665.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Unsecured bank loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">413.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">609.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Debentures and unsecured bond issues</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">102.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other unsecured loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">101.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">356.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Financial leasing</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Non-current liabilities</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,231.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,765.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Secured bank loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">879.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,381.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Unsecured bank loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">394.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,910.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Debentures and unsecured bond issues</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">296.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Other unsecured loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Financial leasing</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Current liabilities</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,321.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,630.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory', window );">Disclosure of detailed information about borrowings [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Debt instruments</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Average rate %</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Current</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Non-current</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Average rate %</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Current</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Non-current</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 34%; font-size: 10pt; text-align: left">Debt denominated in USD fixed rate</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.83</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.00</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Debt denominated in US dollars floating rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.74</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">78.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">476.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.55</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,508.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">351.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Debt denominated in CAD dollars floating rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.00</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">685.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.62</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,259.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">BNDES basket debt floating rate (UMBNDES)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.70</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Other latin american currency fixed rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.27</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">199.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.86</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">114.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">233.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Other latin american currency floating rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.33</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.66</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">TJLP BNDES denominated floating rate (TJLP)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.22</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">165.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">237.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.66</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">216.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">398.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Reais debt - ICMS fixed rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.57</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.13</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">344.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Reais debt - debentures floating rate % CDI</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.63</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Reais debt - fixed rate</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.63</div></td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">147.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">405.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.64</div></td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">423.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">421.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,321.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,231.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,630.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,765.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfTermsAndDebtRepaymentsTextBlock', window );">Disclosure of terms and debt repayments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Less than 1 year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">1-2 years</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">2-3 years</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">3-5 years</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">More than 5 years</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 34%; font-size: 10pt; text-align: left">Secured bank loans</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,468.9</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">879.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">253.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">109.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">168.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Unsecured bank loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">808.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">394.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">413.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Debentures and unsecured bond issues</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">102.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">102.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Unsecured other loans</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">139.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Finance lease liabilities</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,553.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,321.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">724.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">82.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">223.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">201.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822486272">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 23 - Employee Benefits (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt">Present value of funded obligations</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,027.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,592.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,646.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Fair value of plan assets</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,006.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,845.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,781.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Present value of net obligations</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,021.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(746.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(865.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Present value of unfunded obligations</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(757.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(741.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(756.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Present value of net obligations</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,778.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,488.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,621.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Asset ceiling</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(368.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(532.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(534.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Net liability</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,147.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,020.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,156.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other long term employee benefits</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(105.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(83.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(57.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total employee benefits</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,252.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,104.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,213.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Employee benefits amount in the balance sheet:</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,310.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,137.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,221.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Assets</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">58.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Net liabilities</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,252.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,104.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,213.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfDefinedBenefitObligationTextBlock', window );">Disclosure of defined benefit obligation [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Defined benefit obligation at January 1 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">st</div></div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,333.4</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,403.0</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4,808.0</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Acquisitions through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(67.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Service cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(38.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(43.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(42.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Interest cost</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(321.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(320.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(308.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Gains and (losses) on settlements or reductions in benefits</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Contributions by plan participants</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Actuarial gains and (losses) - geographical assumptions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">77.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(20.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Actuarial gains and (losses) - financial assumptions</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(140.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(321.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">182.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Experience adjustment</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(115.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(182.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Reclassifications</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Exchange differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(306.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">599.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(805.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Benefits paid</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">400.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">416.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">392.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Defined benefit obligation at December, 31</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,785.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,333.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5,403.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfTheChangeInFairValueOfThePlanAssetsTextBlock', window );">Disclosure of the change in fair value of the plan assets [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Fair value of plan assets at January 1 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">st</div></div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,845.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,781.4</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,550.1</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Interest Income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">273.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">274.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">259.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Administrative costs</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Expected Return excluding interest income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(64.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">269.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(173.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Acquisition through business combination</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">73.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Contributions by employer</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">183.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">175.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">107.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Contributions by plan participants</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Exchange differences</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">166.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(315.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">428.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Benefits paid excluding costs of administration</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(398.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(416.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(392.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Fair value of plan assets at December, 31</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,006.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,845.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,781.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfAssetCeilingTextBlock', window );">Disclosure of asset ceiling [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Asset ceiling impact at January 1 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">st</div></div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.5</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.6</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.8</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Acquisitions through exchange transaction of shareholdings</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Interest income/(expenses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Change in asset ceiling excluding amounts included in interest income/(expenses)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Effect of exchange rate fluctuations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Asset ceiling impact at December 31</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">58.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfDefinedBenefitPlansRecognizedInTheIncomeStatementTextBlock', window );">Disclosure of defined benefit plans recognized in the income statement [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Current service costs</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(38.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(43.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(42.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Administrative costs</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">(Gains) losses on settlements and curtailments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Income from operations</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(37.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(46.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(44.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Financial cost</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(101.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(105.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(97.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total expense for employee benefits</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(138.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(151.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(142.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfEmployeeBenefitRevenueExpensesAllocationInIncomeStatementTextBlock', window );">Disclosure of employee benefit revenue (expenses) allocation in income statement [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt">Cost of sales</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(22.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(24.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Sales and marketing expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Administrative expense</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(10.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(17.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Financial expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(101.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(105.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(97.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Exceptional items</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(138.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(151.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(142.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfActuarialAssumptionsOfTheEntityTextBlock', window );">Disclosure of actuarial assumptions of the entity [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">2017 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: right">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">2016 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid; text-align: right">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">2015 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Discount rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.6%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.6%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.9%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.5%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.1%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.1%</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Inflation</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.0%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.2%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.2%</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Future salary increases</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.7%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.5%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.8%</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Future pension increases</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.3%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5%</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Medical cost trend rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.9%</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.8%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> a </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.2%</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5%</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"> to</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.2%</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">p.a. reducing to 7.9%</div></div></div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">p.a. reducing to 8.2%</div></div></div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">p.a. reducing to 8.2%</div></div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 61%; font-size: 10pt; text-align: left">Dental claims trend rate</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 10%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.3%</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"></td> <td style="width: 1%; font-size: 10pt; text-align: right">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 10%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5%</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"></td> <td style="width: 1%; font-size: 10pt; text-align: right">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 10%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.5%</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: center">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Life expectation for an over 65 years old male</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">83</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">87</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">80</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">86</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">85</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">70</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Life expectation for an over 65 years old female</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">86</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">89</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">83</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">89</div></td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">88</div></td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">to </div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">71</div></td> </tr> </table></div><span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory', window );">Disclosure of sensitivity analysis for actuarial assumptions [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">In millions of Brazilian Reais</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Change in assumption</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Increase in assumption</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Decrease in assumption</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Increase in assumption</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Decrease in assumption</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Increase in assumption</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Decrease in assumption</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: left">Medical cost trend rate</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 12%; font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100 bases points</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(119.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">102.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(104.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">90.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(77.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">67.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left">Discount rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50 bases points</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">289.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(309.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">292.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(311.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">262.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(280.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left">Future salary increase</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50 bases points</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(12.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt">Longevity</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: center"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">One year</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(180.6</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">176.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(175.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">172.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(135.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">131.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfPlanAssetsComponentsTextBlock', window );">Disclosure of plan assets components [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Rated</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Unrated</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Rated</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Unrated</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Rated</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Unrated</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="width: 10%; font-size: 10pt; text-align: left">Government bonds</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left">Corporate bonds</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left">Equity instruments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt">Property</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt">Cash</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt">Others</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32</div></td> <td style="font-size: 10pt; text-align: left">%</td> </tr> </table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DisclosureOfActuarialAssumptionsOfTheEntityTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of actuarial assumption of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DisclosureOfActuarialAssumptionsOfTheEntityTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DisclosureOfAssetCeilingTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the entity asset ceiling.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DisclosureOfAssetCeilingTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the defined benefit plans recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of employee benefit revenue (expenses) allocation in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of plan assets components.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the changes in fair value of the plan assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 140<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of a sensitivity analysis for significant actuarial assumptions used to determine the present value of a defined benefit obligation. [Refer: Actuarial assumptions [member]; Defined benefit obligation, at present value]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 145<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_145&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802084304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 24 - Share-based Payments (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfIndirectMeasurementOfFairValueOfGoodsOrServicesReceivedShareOptionsGrantedDuringPeriodExplanatory', window );">Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-style: italic">In R$, except when otherwise indicated</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 10pt; font-weight: bold"></td> <td><div style="display: inline; font-weight: bold;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 10pt; font-weight: bold"></td> <td><div style="display: inline; font-weight: bold;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 10pt; font-weight: bold"></td> <td><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 73%; font-size: 10pt">Fair value of options granted</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.51</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.21</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 5%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.84</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Share price</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.80</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.18</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.41</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Exercise price</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.80</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.18</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.41</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Expected volatility</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">27.5</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Vesting year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Expected dividends</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Risk-free interest rate</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.1</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(ii)</div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.4</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(ii)</div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.9</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(ii)</div></div></td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfTheNumberOfShareOptionsTextBlock', window );">Disclosure of the number of share options [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-style: italic">Thousand options</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Options outstanding at January 1<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">st</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">131,244</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">121,770</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">126,149</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Options issued during the period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20,435</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,806</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,568</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Options exercised during the period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13,548</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(11,613</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(19,975</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Options forfeited during the period</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,910</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3,719</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(972</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Options outstanding at ended year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">135,221</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">131,244</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">121,770</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfWeightedAverageExercisePricesOfShareOptionsTextBlock', window );">Disclosure of weighted average exercise prices of share options [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-style: italic">In R$ per share</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Options outstanding at January 1 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">st</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.87</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.36</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.07</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Options issued during the period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.82</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.18</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.42</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Options forfeited during the period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.88</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.83</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20.35</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Options exercised during the period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.81</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.52</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.05</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Options outstanding at ended period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.27</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.87</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.36</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Options exercisable at ended period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.78</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.66</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.29</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfNumberAndWeightedAverageExercisePricesOfOtherEquityInstrumentsExplanatory', window );">Disclosure of number and weighted average exercise prices of other equity instruments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-style: italic">Thousand deferred shares</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2017</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2016</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">2015</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt"><div style="display: inline; font-size: 10pt">Deferred shares outstanding at January 1<div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">st</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,260</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,056</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,490</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">New deferred shares during the period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">794</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,329</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,692</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Deferred shares granted during the period</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(2,874</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6,118</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(804</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Deferred shares forfeited during the period</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(880</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,007</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(322</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Deferred shares outstanding at ended year</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,300</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,260</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,056</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the number of share options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the weighted average exercise prices of share options.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of information about indirect, by reference to the fair value of the equity instruments granted, measurement of the fair value of goods or services received as consideration for the entity's share options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the number and weighted average exercise prices of other equity instruments (ie other than share options).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6818629968">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 25 - Trade Payables (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left; padding-bottom: 1pt">Trade payables</td> <td style="width: 1%; font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">175.1</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">237.8</div></td> <td style="width: 1%; border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Non-current</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">175.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">237.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade payables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,418.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,793.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Related Parties</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,435.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,075.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Current</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,854.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,868.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,029.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,106.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6826506208">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 26 - Provisions (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfOtherProvisionsExplanatory', window );">Disclosure of other provisions [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Balance as of December 31, 2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Effect of changes in foreign exchange rates</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Additions</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Provisions used and reversed</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Balance as of December 31, 2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; font-size: 10pt; font-weight: bold">Restructuring</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Provision for disputes and litigations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Taxes on sales</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">247.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">113.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(135.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">226.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Income tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">323.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">167.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(336.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">157.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Labor</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">165.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">142.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(176.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">129.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Civil</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">43.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">65.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(74.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">146.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">69.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(84.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">125.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total of provision for disputes and litigations</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">926.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">558.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(807.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">673.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total provisions</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">934.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">558.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(807.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">681.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfTheDisbursementExpectativeOfTheProvisionsTextBlock', window );">Disclosure of the disbursement expectative of the provisions [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Balance as of December 31, 2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">1 year or less</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">1-2 years</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2-5 years</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Over 5 years</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 45%; font-size: 10pt; font-weight: bold">Restructuring</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Provision for disputes and litigations</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Taxes on sales</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">226.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">179.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Income tax</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">157.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Labor</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">129.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">77.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Civil</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">125.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">30.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">83.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total of provision for disputes and litigations</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">673.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">161.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">351.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">130.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total provisions</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">681.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">169.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">351.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">131.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2017-01-01<br> -Paragraph 84<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=37&amp;date=2017-03-01&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 27 - Financial Instruments and Risks (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td colspan="2" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">2017</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td colspan="2" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Fair Value</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Gain / (Losses)</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Exposure</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Risk</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Notional</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Assets</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Liability</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Finance Result</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Operational Result</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Equity</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="width: 17%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Cost</div></td> <td style="width: 1%"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 15%"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(9,742.3</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold">)<div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">9,318.9</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">283.6</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(190.0</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(563.5</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(200.2</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">584.8</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Commodity</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2,378.7</div></div></td> <td style="font-size: 10pt">)<div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,955.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">166.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(70.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">103.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(4.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(6,879.1</div></div></td> <td style="font-size: 10pt">)<div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">6,879.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">86.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(93.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(556.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(331.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">630.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Euro</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(82.9</div></div></td> <td style="font-size: 10pt">)<div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">82.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(4.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">6.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Mexican Pesos</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(401.6</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">401.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">27.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(25.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">27.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(47.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">Fixed Assets</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(579.5</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">579.5</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1.9</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(10.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.9</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(531.9</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">531.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(10.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Euro</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(47.6</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">47.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Expenses</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(177.7</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt"></div>)</td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">177.7</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.5</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2.9</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.9</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(169.2</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">169.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">2.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Rupee</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(8.5</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">8.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Cash</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,328.3</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,328.3</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(13.1</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(266.0</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,313.3</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,313.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(13.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(266.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Interest rate</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(15.0</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">15.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Debts</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(919.5</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">356.9</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">30.0</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(67.5</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(562.6</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(76.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Interest rate</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(356.9</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">356.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">30.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">8.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">Equity Instrument</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2,347.9</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">677.0</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">69.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">67.0</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left; padding-bottom: 1pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Stock Exchange Prices</div></div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2,347.9</div></div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">677.0</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">69.2</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">67.0</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">As of December 31, 2017</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(15,095.2</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12,438.3</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">385.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(217.5</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(834.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(196.3</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">586.6</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td colspan="3" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">2016</div></td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td colspan="3" style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="7" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Fair Value</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="11" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Gain / (Losses)</div></td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Exposure</div></td> <td style="padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Risk</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Notional</div></td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Assets</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Liability</div></td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Finance Result</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Operational Result</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">Equity</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 17%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Cost</div></td> <td style="width: 1%"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 15%"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 8%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(8,807.6</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">8,624.1</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">190.7</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 7%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(582.8</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,397.5</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">737.4</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 6%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(873.3</div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Commodity</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,742.8</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,559.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">136.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(43.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(5.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(97.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">90.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(6,566.9</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">6,566.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">36.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(491.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,392.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">782.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(909.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Euro</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(135.2</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">135.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(4.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">56.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(42.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Mexican Pesos</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(359.2</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">359.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">18.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(43.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(4.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(13.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Brazilian Real</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3.5</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Fixed Assets</div></div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(523.1</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">523.1</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.0</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(76.1</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(187.0</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(430.3</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">430.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(5.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(119.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Euro</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(92.8</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">92.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(70.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(68.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Expenses</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(103.7</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">103.7</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.1</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">47.6</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">5.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(134.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(90.9</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">90.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">5.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(29.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Euro</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Canadian Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">50.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(106.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Rupee</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(12.8</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">12.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Cash</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,043.8</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,043.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">7.8</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3.7</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">592.3</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(592.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">7.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(55.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Euro</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">51.5</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(51.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">11.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Interest rate</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">400.0</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(400.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">40.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Debts</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2,547.9</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">2,000.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">18.4</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(61.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(50.7</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,874.2</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,326.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">2.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(48.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(28.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Interest rate</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(673.7</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">673.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">15.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(12.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(22.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td>&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">Foreign Investments</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">35.4</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">American Dollar</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">37.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Euro</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Canadian Dollar</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td>&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.3</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3.5</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">As of December 31, 2016</div></td> <td><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(10,938.5</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">)</div></td> <td>&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">10,207.3</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">212.9</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(713.4</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,592.5</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">743.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(972.1</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutHedgingInstrumentsExplanatory', window );">Disclosure of detailed information about hedging instruments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Pre - Hedge</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Post - Hedge</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Interest rate</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Amount</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Interest rate</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Amount</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; text-align: left">Brazilian Real</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">402.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">714.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">American Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">555.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">555.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Canadian Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">685.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">685.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Barbadian Dollar</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.3</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.3</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Interest rate postfixed</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,648.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,960.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Brazilian Real</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.4</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">682.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.9</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">370.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Working Capital in Argentinean Peso</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Dominican Peso</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.3</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">188.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.3</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">188.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">American Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.8</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.8</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Guatemala&acute;s Quetzal</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.8</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.8</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Interest rate pre-set</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">906.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">594.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Pre - Hedge</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="6" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Post - Hedge</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Interest rate</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Amount</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Interest rate</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right">Amount</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; text-align: left">Brazilian Real</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">667.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">%</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,375.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">American Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.5</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,882.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.2</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">565.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Canadian Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,259.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.6</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,259.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Barbadian Dollar</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Interest rate postfixed</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,814.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,205.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Brazilian Real</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.8</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,223.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.2</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">841.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Dominican Peso</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">288.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.7</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">288.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">American Dollar</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Guatemala&acute;s Quetzal</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.0</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Barbadian Dollar</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.3</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">48.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">&nbsp;</td> <td style="padding-bottom: 1pt; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.3</div></td> <td style="font-size: 10pt; text-align: left">%</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">48.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Interest rate pre-set</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,582.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,191.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SensitivityAnalysisForEachTypeOfMarketRisk', window );">Sensitivity analysis for types of market risk [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="text-align: right; vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; text-align: left; vertical-align: bottom"><div style="display: inline; font-size: 10pt">Transaction</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-align: left; vertical-align: bottom"><div style="display: inline; font-size: 10pt">Risk</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Fair value</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Probable scenario</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Adverse scenario</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">Remote<br /> scenario</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td colspan="2" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Commodities hedge</div></td> <td style="width: 1%; font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="width: 12%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Decrease on commodities price</div></div></td> <td style="width: 1%; font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">95.8</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(70.6</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%; font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(392.9</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="width: 1%; font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="width: 9%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(881.7</div></div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Input purchase</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(95.8</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">108.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">498.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,093.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Foreign exchange hedge</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Foreign currency decrease</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(105.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1,843.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3,684.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Input purchase</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">2.2</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">105.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,843.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3,684.0</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Costs effects</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">38.1</div></div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">105.9</div></div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">211.8</div></div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Foreign exchange hedge</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Foreign currency decrease</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(8.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(16.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(153.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(298.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Capex Purchase</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">8.9</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">16.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">153.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">298.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">Fixed assets effects</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Foreign exchange hedge</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Foreign currency decrease</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(1.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(45.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(90.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">Expenses</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1.3</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">45.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">90.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">Expenses effects</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Hedge cambial</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Foreign currency increase</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(13.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(37.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(341.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(669.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">Cash</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">13.1</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">37.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">341.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">669.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Interest Hedge</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Decrease in interest rate</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(0.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(2.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(3.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Interest revenue</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">0.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">2.9</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">3.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">Cash effects</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Hedge cambial</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Foreign currency decrease</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">Cash</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">9.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">140.6</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">281.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Interest Hedge</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Increase in interest rate</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">28.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">18.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(131.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(162.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Interest expenses</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(28.2</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(18.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">131.5</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">162.7</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">Debt effects</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">9.7</div></div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">140.6</div></div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">281.3</div></div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Equity Instrument Hedge</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Stock Exchange Price Decrease</div></div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">69.2</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">54.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(100.1</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(269.3</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">Expenses</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; text-align: right"></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(69.2</div></div></td> <td style="text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">(19.4</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">)</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">517.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,104.8</div></div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">Equity effects</div></td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">34.9</div></div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">417.7</div></div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="font-size: 10pt; border-bottom: Black 1pt solid"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;</div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">835.5</div></div></div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td nowrap="nowrap" style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">&nbsp;</div></div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">-</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">82.7</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">664.2</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">1,328.6</div></div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-size: 10pt">&nbsp;</div></td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfNotionalAndFairValueAmountsPerFinancialInstrumentAndMaturityTextBlock', window );">Disclosure of notional and fair value amounts per financial instrument and maturity [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Notional Value</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Exposure</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Risk</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&gt; 2021</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; font-size: 10pt; font-weight: bold">Cost</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 12%; font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,219.2</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">99.7</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9,318.9</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Commodity</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,859.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">96.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,955.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,879.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,879.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Euro</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">82.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">82.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mexican Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">398.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">401.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Fixed asset</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">579.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">579.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">531.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">531.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Euro</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">47.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">177.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">177.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">169.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">169.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Rupee</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Cash</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,313.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,328.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,313.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,313.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest rate</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Debt</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">110.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">246.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">356.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest rate</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">110.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">246.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">356.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Foreign Investments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">677.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">677.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">677.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">677.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,966.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">99.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">110.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">246.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,438.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fair Value</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">Exposure</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">Risk</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2018</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2019</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2020</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2021</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">&gt; 2021</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Total</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 12%; font-size: 10pt; font-weight: bold">Cost</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 12%; font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">89.0</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.6</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 9%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">93.6</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Commodity</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">95.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(7.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Euro</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Mexican Peso</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Fixed asset</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(9.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Euro</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Rupee</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Cash</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">American Dollar</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(13.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest rate</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold">Debt</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Interest rate</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Equity Instrument</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">69.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">69.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Stock prices</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">69.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">69.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">134.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">167.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfDetailedInformationAboutFinancialInstrumentsExplanatory', window );">Disclosure of detailed information about financial instruments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Loans and receivables</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Held for trading</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Financial assets/liabilities at fair value through profit or loss</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Derivatives hedge</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Financial liabilities through amortized cost</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Financial assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 34%; font-size: 10pt; text-align: left">Cash and cash equivalents</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,354.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">10,354.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Investment securities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">122.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">133.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade receivables excluding prepaid expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,505.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,505.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Financial instruments derivatives</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">285.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">385.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17,859.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">122.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">112.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">285.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,378.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Financial liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trade payables and put option granted on subsidiary and other liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,764.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,502.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,266.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Financial instruments derivatives</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">201.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">217.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest-bearning loans and borrowings</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,553.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,553.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,780.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">201.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,055.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">22,036.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Loans and receivables</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Held for trading</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Financial assets/liabilities at fair value through profit or loss</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Derivatives hedge</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Financial liabilities through amortized cost</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">Total</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Financial assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 34%; font-size: 10pt; text-align: left">Cash and cash equivalents</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,876.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7,876.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Investment securities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">282.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">387.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Trade receivables excluding prepaid expenses</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,962.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6,962.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Financial instruments derivatives</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">194.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">212.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14,839.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">301.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">194.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15,439.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Financial liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Trade payables and put option granted on subsidiary and other liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,106.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13,208.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,314.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Financial instruments derivatives</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">49.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">663.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">713.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Interest-bearning loans and borrowings</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,396.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,396.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold">Total</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,156.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">663.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18,604.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">24,423.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfFinancialInstrumentsFairValueHierarchyTextBlock', window );">Disclosure of financial instruments fair value hierarchy [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid; border-top: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; border-top: Black 1pt solid">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 1</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 2</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 3</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Total</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 1</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 2</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Level 3</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Total</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-decoration: underline; text-align: left">Financial assets</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="width: 12%; font-size: 10pt; text-align: left">Financial asset at fair value through profit or loss</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.9</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11.9</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">282.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 8%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">282.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left">Derivatives assets at fair value through profit or loss</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">100.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Derivatives - operational hedge</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">280.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">285.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">83.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">110.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">194.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">380.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">397.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">369.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">126.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">495.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; font-weight: bold; text-decoration: underline; text-align: left">Financial liabilities</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Financial liabilities at fair value through profit and loss <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,764.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,764.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,106.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,106.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left">Derivatives liabilities at fair value through profit or loss</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">9.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">40.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">49.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left">Derivatives - operational hedge</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">58.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">143.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">201.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">78.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">575.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">654.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Derivatives - fair value hedge</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">157.4</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,764.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,981.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">88.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">624.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,106.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,819.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFairValueMeasurementOfLiabilitiesExplanatory', window );">Disclosure of fair value measurement of liabilities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 87%; font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Financial liabilities at December 31, 2016 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,106.1</div></td> <td style="width: 1%; font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-indent: 9pt">Acquisition of investments</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Total gains and losses in the year</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">650.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; text-indent: 9pt">Losses recognized in net income</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">359.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt; text-indent: 9pt">Losses recognized in equity</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">291.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; font-weight: bold"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Financial liabilities at December 31, 2017 <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5,764.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the financial instruments fair value hierarchy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of notional and fair value amounts per financial instrument and maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about financial instruments. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_31&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35K<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35K&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about hedging instruments. [Refer: Hedging instruments [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 24A<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_24A&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the fair value measurement of liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the entity's financial risk management practices and policies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of the sensitivity analysis for types of market risk to which the entity is exposed, showing how profit or loss and equity would have been affected by changes in the relevant risk variable that were reasonably possible at that date. [Refer: Market risk [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 40<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_40_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801819568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 28 - Operating Leases (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeExplanatory', window );">Disclosure of finance lease and operating lease by lessee [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Less than 1 year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">35.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Between 1 and 5 years</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">129.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">61.4</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">More than 5 years</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">71.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">66.5</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">236.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">154.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of finance leases and operating leases by the lessee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2019-01-01<br> -Name IAS<br> -Number 17<br> -IssueDate 2017-01-01<br> -Paragraph 31<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=17&amp;date=2017-03-02&amp;anchor=para_31&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2019-01-01<br> -Name IAS<br> -Number 17<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=17&amp;date=2017-03-02&amp;anchor=para_35&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinanceLeaseAndOperatingLeaseByLesseeExplanatory</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801883840">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 29 - Collateral and Contractual Commitments with Suppliers, Advances From Customers and Other (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory', window );">Disclosure of commitments and contingent liabilities [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Collateral given for own liabilities</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">606.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,051.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other commitments</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">842.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">754.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,449.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,805.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Commitments with suppliers <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,096.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,019.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Commitments - Bond 2017</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">300.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,096.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,319.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfFutureContractualCommitmentsTextBlock', window );">Disclosure of future contractual commitments [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">Less than 1 year</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,812.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,325.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Between 1 and 2 years</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2,995.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">420.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">More than 2 years</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,287.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">572.7</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">11,096.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,319.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of future contractual commitments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of commitments and contingent liabilities. [Refer: Contingent liabilities [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 10<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_10_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801881296">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 30 - Contingent Liability (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfEstimatesOfPossibleLossesTextBlock', window );">Disclosure of estimates of possible losses [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; font-size: 10pt; text-align: left">IRPJ and CSLL</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">31,757.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">28,934.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">PIS and COFINS</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">3,485.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,971.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">ICMS and IPI</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,805.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,046.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Labor</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">287.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">222.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Civil</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,071.5</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">4,417.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,113.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">858.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">60,520.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52,450.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of estimates of possible losses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801898144">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 31 - Non-cash Items (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfDetailedInformationAboutNoncashItemsTextBlock', window );">Disclosure of detailed information about non-cash items [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">Acquisition of property, plant and equipment</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">105.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Acquisition of investments payables</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">208.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Cash financing cost other than interests</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">37.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1,752.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">PERT 2017</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">199.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Fair value of option granted</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">221.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">205.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">144.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Others</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">41.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about non-cash items.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801982304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 32 - Related Parties (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfKeyManagementPersonnelCompensationTextBlock', window );">Disclosure of key management personnel compensation [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td colspan="2" style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left"><div style="display: inline; font-size: 10pt">Short-term benefits <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">21.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">32.1</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt"><div style="display: inline; font-size: 10pt">Share-based payments <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(ii)</div></div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">38.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">36.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; font-weight: bold; text-align: left">Total key management remuneration</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">72.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">57.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">71.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> </tr> </table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory', window );">Disclosure of transactions between related parties [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Current</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Trade receivables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Other Trade receivables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Trade payables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Other Trade payables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Borrowings and interest payable</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends payables</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 22%; font-size: 10pt; text-align: left">AB InBev</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.2</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">33.6</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(363.0</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">AB Procurement</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.9</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">AB Services</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">29.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">AB USA</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">14.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(375.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Ambrew</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(89.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Cervecer&iacute;a Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">91.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">5.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(589.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(59.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Inbev</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23.8</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(33.8</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">ITW International</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(212.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(48.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(590.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Panam&aacute; Holding</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(73.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">130.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">137.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,435.6</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(295.7</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(48.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(680.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt">&nbsp;</td> <td colspan="22" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Current</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Trade receivables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Other Trade receivables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Trade payables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">&nbsp;Other Trade payables <div style="display: inline; bottom:.33em; font-size: 82%; position: relative; vertical-align: baseline;">(i)</div></div></div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Borrowings and interest payable</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Dividends payables</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 22%; font-size: 10pt; text-align: left">AB InBev</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">6.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">13.4</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(308.9</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.7</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">)</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">AB Package</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(31.3</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">AB Services</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">15.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">AB USA</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19.7</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">18.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(247.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Ambev Peru</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(4.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Ambrew</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(89.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Bogot&aacute; Beer</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">211.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(211.0</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Cervecer&iacute;a Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(444.1</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Inbev</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.2</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">17.6</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(17.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(0.2</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">ITW International</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(209.4</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(590.9</div></td> <td style="font-size: 10pt; text-align: left">)</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.0</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(15.7</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(54.5</div></td> <td style="font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">7.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(6.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(14.4</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">)</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">37.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">284.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,075.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(495.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(30.5</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(680.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left">)</td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2017</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Company</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Buying / Service fees / Rentals</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Sales</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Royalties</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Net finance cost</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; text-align: left">AB Procurement</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(5.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">20.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">AB USA</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(258.7</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">42.5</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(284.5</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Ambev Peru</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(8.6</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.5</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">Cervecer&iacute;a Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(749.1</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.4</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(45.8</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Inbev</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(73.6</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(91.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">8.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(35.9</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16.8</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,186.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">73.3</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(366.2</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(16.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; text-align: right; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2016</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Company</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Buying / Service fees / Rentals</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Sales</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Royalties</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Net finance cost</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 48%; font-size: 10pt; text-align: left">AB Package</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32.8</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">AB USA</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(206.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">52.3</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(292.8</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Cervecer&iacute;a Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(596.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">2.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(46.9</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">InBev</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(77.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">ITW International</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(26.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(63.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">SAB Group</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(3.5</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">23.5</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(45.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.3</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(32.2</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1,023.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">78.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(371.9</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(26.0</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; min-; min-width: 700px;"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; border-bottom: Black 1pt solid">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; border-bottom: Black 1pt solid">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right; border-bottom: Black 1pt solid">2015</td> </tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; font-weight: bold">Company</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Buying / Service fees / Rentals</div></div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Sales</div></div></td> <td style="font-size: 10pt; font-weight: bold; font-style: italic">&nbsp;</td> <td colspan="3" style="font-size: 10pt; font-weight: bold; font-style: italic; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">Royalties</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; font-size: 10pt; text-align: left">AB Inbev</td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(55.3</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="width: 1%; font-size: 10pt">&nbsp;</td> <td style="width: 1%; font-size: 10pt; text-align: left">&nbsp;</td> <td style="width: 10%; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(35.5</div></td> <td style="width: 1%; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left">AB USA</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(124.9</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">49.0</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(288.1</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt; text-align: left">Cervecer&iacute;a Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(257.7</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">1.1</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(52.9</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt">InBev</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(73.3</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.1</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">Modelo</td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(356.9</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; text-align: left">&nbsp;</td> <td style="font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">-</div></td> <td style="font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; padding-bottom: 1pt">Others</td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(74.0</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">0.6</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">&nbsp;</div></td> <td style="font-size: 10pt; padding-bottom: 1pt">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left">&nbsp;</td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(1.1</div></td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-size: 10pt">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">(942.1</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">)</div></td> <td style="font-size: 10pt; font-weight: bold">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: left">&nbsp;</td> <td style="font-size: 10pt; font-weight: bold; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">50.8</div></td> <td style="font-size: 10pt; font-weight: bold; text-align: left"><div style="display: inline; font-style: italic; font-weight: inherit; 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 33 - Group Companies (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisclosureOfDetailedInformationAboutSubsidiariesTextBlock', window );">Disclosure of detailed information about subsidiaries [text block]</a></td>
<td class="text"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table cellspacing="0" cellpadding="0" style="font-size: 10pt; border-collapse: collapse; min-; min-width: 700px;"> <tr> <td nowrap="nowrap" style="vertical-align: bottom; width: 82%; font-size: 10pt; layout-grid-mode: line"><br /> <div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Argentina</div></div></td> <td nowrap="nowrap" style="vertical-align: top; width: 18%">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; margin: 0">CERVECERIA Y MALTERIA QUILMES SAICA Y G</div> <div style=" font-size: 10pt; margin: 0">Charcas 5160 &#x2013; Buenos Aires</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">99.75%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Bol&iacute;via</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">CERVECERIA BOLIVIANA NACIONAL S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Avenida Montes 400 e Rua Chuquisaca 121 - La Paz</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">85.67%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Brazil</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">AMBEV S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Rua Dr. Renato Paes de Barros, 1.017, 3&ordm; andar, Itaim Bibi, S&atilde;o Paulo</div></td> <td style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">Companhia Consolidadora </div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; margin: 0">AROSUCO AROMAS E SUCOS LTDA.</div> <div style=" font-size: 10pt; margin: 0">Avenida Buriti, 5.385, Distrito Industrial - Manaus - AM</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">CRBS S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Avenida Antarctica, 1.891, Fazenda Santa &Uacute;rsula &#x2013; Jaguari&uacute;na &#x2013; SP</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">CERVEJARIA Z.X.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Avenida Antarctica, 1.891, Fazenda Santa Ursula &#x2013; Jaguari&uacute;na - SP</div></td> <td nowrap="nowrap" rowspan="2" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">86.42%</div></div></td> </tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font-size: 10pt; layout-grid-mode: line">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Canad&aacute;</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">LABATT BREWING COMPANY LIMITED</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">207 Queens Quay West, Suite 299 - M5J 1A7 - Toronto</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Chile</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">CERVECERIA CHILE S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Avenida Presidente Eduardo Frei Montalva, 9.600 - Comuna de Quilicura - Santiago</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Spain</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">JALUA SPAIN, S.L.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Juan Vara Ter&aacute;n, 14 &#x2013; Ilhas Can&aacute;rias</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Luxembourg</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">AMBEV LUXEMBOURG</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">15 Breedewues - L1259 - Sennngerberg</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Guatemala</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">INDUSTRIAS DEL ATL&Aacute;NTICO, SOCIEDAD AN&Oacute;NIMA</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">KM 122 Ruta al Atlantico &#x2013; C.P 01012 Teculutan, Zacapa</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">50.00%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Paraguay</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">CERVECERIA PARAGUAYA S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Ruta Villeta KM 30 - Ypan&eacute;</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">87.36%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Dominican Republic</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">CERVECER&Iacute;A NACIONAL DOMINICANA, S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Autopista 30 de Mayo, Distrito Nacional</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">55.00%</div></div></td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom; width: 82%">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top; width: 18%">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Uruguay</div></div></td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">LINTHAL S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">25 de Mayo 444, office 401 - Montevideo</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">CERVECERIA Y MALTERIA PAYSSAND&Uacute; S.A.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Rambla Baltasar Brum, 2.933 &#x2013; 11800 - Payssandu</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">99.93%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">MONTHIERS SOCIEDAD AN&Oacute;NIMA</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Cesar Cortinas, 2.037 - Montevideo</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom">&nbsp;</td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right">&nbsp;</td> </tr> <tr style="background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="vertical-align: bottom; width: 82%; font-size: 10pt; layout-grid-mode: line; text-align: justify"><div style="display: inline; font-size: 10pt"><div style="display: inline; font-weight: bold;">Panama</div></div></td> <td nowrap="nowrap" style="vertical-align: top; width: 18%">&nbsp;</td> </tr> <tr style="background-color: White"> <td nowrap="nowrap" style="vertical-align: bottom"> <div style=" font-size: 10pt; text-align: justify; margin: 0">Cervecer&iacute;a Nacional S. de R.L.</div> <div style=" font-size: 10pt; text-align: justify; margin: 0">Planta Pasadena, v&iacute;a Ricardo J Alfaro y Sim&oacute;n Bol&iacute;var, ciudad de Panam&aacute;, Rep. De Panam&aacute;</div></td> <td nowrap="nowrap" style="vertical-align: top; font-size: 10pt; layout-grid-mode: line; text-align: right"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;"><div style="display: inline; font-size: 10pt">100.00%</div></div></td> </tr> </table></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of detailed information about subsidiaries.</p></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6827405440">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 1 - Corporate Information (Details Textual)<br> shares in Millions, R$ in Millions, $ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">12 Months Ended</th>
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<th class="th"><div>Jan. 18, 2018</div></th>
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<div>Dec. 01, 2017 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May 16, 2017 </div>
<div>BRL (R$) </div>
<div>shares</div>
</th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>USD ($)</div>
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<div>Dec. 31, 2017 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 21, 2017 </div>
<div>BRL (R$) </div>
<div>shares</div>
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<div>Apr. 30, 2016 </div>
<div>BRL (R$)</div>
</th>
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<div>Jan. 31, 2016 </div>
<div>BRL (R$)</div>
</th>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TotalAmountConsideredUnderTheFederalTaxAmnestyProgram', window );">Total amount considered under the Federal Tax Amnesty Program</a></td>
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</td>
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</td>
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<td class="nump">R$ 3,500.0<span></span>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AmountPaidUnderTheFederalTaxAmnestyProgram', window );">Amount paid under the Federal Tax Amnesty Program</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 960.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RemainingRequiredMonthlyPaymentsUnderTheFederalTaxAmnestyProgram', window );">Remaining required monthly payments under the Federal Tax Amnesty Program</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">145<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreement', window );">Maximum exposure of common shares under a equity swap agreement | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">80<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreementAmount', window );">Maximum exposure of common shares under a equity swap agreement, amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 2,300.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 820.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumTermOfEquitySwapAgreement', window );">Maximum term of equity swap agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1 year 180 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BusinessCombinationsAxis=abev_CerveceriaNacionalSDeRlMember', window );">Cerveceria Nacional S. de R.L. [member] | Anheuser-Busch InBev N.V. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Total consideration transferred, acquisition-date fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 1,236.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FairValueOfProfitLossFromALikekindExchangeOfProperty', window );">Fair value of profit (loss) from a like-kind exchange of property</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,240.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CounterpartiesAxis=abev_BrasilKirinIndstriaDeBebidasLtdaMember', window );">Brasil Kirin Ind&#250;stria de Bebidas Ltda. [member] | Cachoeira de Macacu Bebidas Ltda. [member] | Rio de Janeiro [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Total consideration transferred, acquisition-date fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 478.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceraNacionalDominicanaSaMember', window );">Cervecer&#237;a Nacional Dominicana S.A. [member] | E. Le&#243;n Jimenes S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption', window );">Percentage of ownership acquired through the partial exercise of a put option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Total consideration transferred, acquisition-date fair value | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 926.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceraNacionalDominicanaSaMember', window );">Cervecer&#237;a Nacional Dominicana S.A. [member] | E. Le&#243;n Jimenes S.A. [member] | Partial exercise of put option for further ownership of subsidiary [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest in subsidiary</a></td>
<td class="nump">85.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests', window );">Proportion of ownership interests held by non-controlling interests</a></td>
<td class="nump">15.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceriaYMalteriaQuilmesSaicaYGMember', window );">CERVECERIA Y MALTERIA QUILMES SAICA Y G [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PaymentsToASubsidiaryForCompletionOf3rdPartyLicensingTransaction', window );">Payments to a subsidiary for completion of 3rd party licensing transaction | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 50.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_LabattBreweriesMember', window );">Labatt Breweries [member] | Archibald Microbrasserie [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired', window );">Percentage of voting equity interests acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">66.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_LabattBreweriesMember', window );">Labatt Breweries [member] | Sucos do Bem [member] | Archibald Microbrasserie [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Total consideration transferred, acquisition-date fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 155.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CRBSSAAndAmbevLuxembourgMember', window );">CRBS S.A. and Ambev Luxembourg [member] | Mark Anthony Group [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred', window );">Total consideration transferred, acquisition-date fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 1,400.0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AmountPaidUnderTheFederalTaxAmnestyProgram">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the payment of outstanding debt related to the Federal Tax Amnesty Program.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AmountPaidUnderTheFederalTaxAmnestyProgram</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_FairValueOfProfitLossFromALikekindExchangeOfProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of profit (loss) from a like-kind exchange of property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_FairValueOfProfitLossFromALikekindExchangeOfProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum exposure of common shares under a equity swap agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreementAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum amount estimated for the exposure of common shares under a equity swap agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_MaximumExposureOfCommonSharesUnderAEquitySwapAgreementAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_MaximumTermOfEquitySwapAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum term of an equity swap agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_MaximumTermOfEquitySwapAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PaymentsToASubsidiaryForCompletionOf3rdPartyLicensingTransaction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total payments to a subsidiary for the completion of 3rd party licensing transaction</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PaymentsToASubsidiaryForCompletionOf3rdPartyLicensingTransaction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of ownership acquired through the partial exercise of a put option.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_RemainingRequiredMonthlyPaymentsUnderTheFederalTaxAmnestyProgram">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The remaining required monthly payments under the Federal Tax Amnesty Program.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_RemainingRequiredMonthlyPaymentsUnderTheFederalTaxAmnestyProgram</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TotalAmountConsideredUnderTheFederalTaxAmnestyProgram">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount considered for future payments due to the Federal Tax Amnesty Program facilitating the disputed/discounted amounts payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TotalAmountConsideredUnderTheFederalTaxAmnestyProgram</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value, at acquisition date, of the consideration transferred in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B64<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B64_f&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PercentageOfVotingEquityInterestsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of voting equity interests acquired in a business combination. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B64<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B64_c&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PercentageOfVotingEquityInterestsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a subsidiary attributable to the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 19B<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interests in a subsidiary held by non-controlling interests. [Refer: Subsidiaries [member]; Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 12<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_12_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=abev_CerveceriaNacionalSDeRlMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=abev_CerveceriaNacionalSDeRlMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschInBevNvMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschInBevNvMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_BrasilKirinIndstriaDeBebidasLtdaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_BrasilKirinIndstriaDeBebidasLtdaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=abev_CachoeiraDeMacacuBebidasLtdaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=abev_RioDeJaneiroMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=abev_RioDeJaneiroMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceraNacionalDominicanaSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceraNacionalDominicanaSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_ELenJimenesSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_ELenJimenesSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=abev_PartialExerciseOfPutOptionForFurtherOwnershipOfSubsidiaryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=abev_PartialExerciseOfPutOptionForFurtherOwnershipOfSubsidiaryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceriaYMalteriaQuilmesSaicaYGMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceriaYMalteriaQuilmesSaicaYGMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_LabattBreweriesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_LabattBreweriesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=abev_ArchibaldMicrobrasserieMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=abev_ArchibaldMicrobrasserieMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_SucosDoBemMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_SucosDoBemMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
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<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CRBSSAAndAmbevLuxembourgMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CRBSSAAndAmbevLuxembourgMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BusinessCombinationsAxis=abev_MarkAnthonyGroupMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BusinessCombinationsAxis=abev_MarkAnthonyGroupMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<TYPE>XML
<SEQUENCE>90
<FILENAME>R74.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801733664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Summary of Significant Accounting Policies (Details Textual)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity', window );">Amortisation period of intangible assets material to entity</a></td>
<td class="text">5 years<span></span>
</td>
<td class="text">5 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity', window );">Amortisation period of intangible assets material to entity</a></td>
<td class="text">3 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity', window );">Amortisation period of intangible assets material to entity</a></td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amortisation period of individual intangible assets that are material to the entity&#8217;s financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>91
<FILENAME>R75.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6827491152">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Summary of Significant Accounting Policies - Significant Exchange Rates (Details)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_CanadianDollarsSpentInCanadaAndCubaMember', window );">Canadian Dollars spent in Canada and Cuba [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Closing rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2.638<span></span>
</td>
<td class="nump">2.4214<span></span>
</td>
<td class="nump">2.8124<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2.4567<span></span>
</td>
<td class="nump">2.6348<span></span>
</td>
<td class="nump">2.5661<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_DominicanPesosSpentInTheDominicanRepublicMember', window );">Dominican Pesos spent in the Dominican Republic [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Closing rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.0685<span></span>
</td>
<td class="nump">0.07<span></span>
</td>
<td class="nump">0.086<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.0674<span></span>
</td>
<td class="nump">0.0755<span></span>
</td>
<td class="nump">0.0725<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_USDollarsSpentInEcuadorPanamaAndCubaMember', window );">US Dollars spent in Ecuador, Panama and Cuba [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Closing rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[2]</sup></td>
<td class="nump">3.308<span></span>
</td>
<td class="nump">3.2591<span></span>
</td>
<td class="nump">3.9048<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[2]</sup></td>
<td class="nump">3.2017<span></span>
</td>
<td class="nump">3.4749<span></span>
</td>
<td class="nump">3.2596<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_QuetzalSpentInGuatemalaMember', window );">Quetzal spent in Guatemala [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Closing rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.45<span></span>
</td>
<td class="nump">0.4343<span></span>
</td>
<td class="nump">0.5129<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.4344<span></span>
</td>
<td class="nump">0.457<span></span>
</td>
<td class="nump">0.4265<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_NovoSolSpentInPeruMember', window );">Novo Sol spent in Peru [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Closing rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">0.972<span></span>
</td>
<td class="nump">1.144<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">1.0269<span></span>
</td>
<td class="nump">1.0396<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_ArgentineanPesoSpentInArgentinaMember', window );">Argentinean Peso spent in Argentina [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Closing rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.1762<span></span>
</td>
<td class="nump">0.2056<span></span>
</td>
<td class="nump">0.3003<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.1931<span></span>
</td>
<td class="nump">0.2354<span></span>
</td>
<td class="nump">0.3581<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_BolivianPesoSpentInBoliviaMember', window );">Bolivian Peso spent in Bolivia [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Closing rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.4753<span></span>
</td>
<td class="nump">0.4683<span></span>
</td>
<td class="nump">0.561<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.46<span></span>
</td>
<td class="nump">0.4993<span></span>
</td>
<td class="nump">0.4683<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_GuaraniSpentInParaguaiMember', window );">Guarani spent in Paraguai [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Closing rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.0006<span></span>
</td>
<td class="nump">0.0006<span></span>
</td>
<td class="nump">0.0007<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.0006<span></span>
</td>
<td class="nump">0.0006<span></span>
</td>
<td class="nump">0.0006<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_UruguayanPesoSpentInUruguayMember', window );">Uruguayan Peso spent in Uruguay [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Closing rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.1151<span></span>
</td>
<td class="nump">0.1114<span></span>
</td>
<td class="nump">0.1304<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.1116<span></span>
</td>
<td class="nump">0.1166<span></span>
</td>
<td class="nump">0.1197<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_ChileanPesoSpentInChileMember', window );">Chilean Peso spent in Chile [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Closing rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.0054<span></span>
</td>
<td class="nump">0.0049<span></span>
</td>
<td class="nump">0.0055<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.0049<span></span>
</td>
<td class="nump">0.0051<span></span>
</td>
<td class="nump">0.005<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_PesoColombianoSpentInColombiaMember', window );">Peso colombiano spent in Colombia [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Closing rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">0.0011<span></span>
</td>
<td class="nump">0.0012<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">0.0011<span></span>
</td>
<td class="nump">0.0012<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_BarbadianDollarSpentInBarbadosMember', window );">Barbadian Dollar spent in Barbados [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClosingForeignExchangeRate', window );">Closing rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1.6307<span></span>
</td>
<td class="nump">1.6075<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageForeignExchangeRate', window );">Average rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1.5783<span></span>
</td>
<td class="nump">1.7139<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">The functional currency of Cuba, the Cuban convertible peso ("CUC"), has a fixed parity with the dollar ("USD") at balance sheet date.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Until December 31, 2016, due to exchange of shareholdings, according the Note 1 - Corporate information.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AverageForeignExchangeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average exchange rate used by the entity. Exchange rate is the ratio of exchange for two currencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AverageForeignExchangeRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClosingForeignExchangeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The spot exchange rate at the end of the reporting period. Exchange rate is the ratio of exchange for two currencies. Spot exchange rate is the exchange rate for immediate delivery.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClosingForeignExchangeRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=abev_CanadianDollarsSpentInCanadaAndCubaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=abev_CanadianDollarsSpentInCanadaAndCubaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=abev_DominicanPesosSpentInTheDominicanRepublicMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=abev_DominicanPesosSpentInTheDominicanRepublicMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=abev_USDollarsSpentInEcuadorPanamaAndCubaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=abev_USDollarsSpentInEcuadorPanamaAndCubaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=abev_QuetzalSpentInGuatemalaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=abev_QuetzalSpentInGuatemalaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=abev_NovoSolSpentInPeruMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=abev_NovoSolSpentInPeruMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=abev_ArgentineanPesoSpentInArgentinaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=abev_ArgentineanPesoSpentInArgentinaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=abev_BolivianPesoSpentInBoliviaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=abev_BolivianPesoSpentInBoliviaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
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<td></td>
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<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=abev_GuaraniSpentInParaguaiMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=abev_GuaraniSpentInParaguaiMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=abev_UruguayanPesoSpentInUruguayMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=abev_UruguayanPesoSpentInUruguayMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=abev_ChileanPesoSpentInChileMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=abev_ChileanPesoSpentInChileMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=abev_PesoColombianoSpentInColombiaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=abev_PesoColombianoSpentInColombiaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=abev_BarbadianDollarSpentInBarbadosMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=abev_BarbadianDollarSpentInBarbadosMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>92
<FILENAME>R76.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6806853472">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 3 - Summary of Significant Accounting Policies - Useful Lives of Major Property, Plant and Equipment (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember', window );">Buildings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PropertyPlantAndEquipmentUsefulLife', window );">Property, plant and equipment, useful life (Year)</a></td>
<td class="text">25 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_PlantAndEquipmentMember', window );">Plant and equipment [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PropertyPlantAndEquipmentUsefulLife', window );">Property, plant and equipment, useful life (Year)</a></td>
<td class="text">15 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_FixturesMember', window );">Fixtures [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PropertyPlantAndEquipmentUsefulLife', window );">Property, plant and equipment, useful life (Year)</a></td>
<td class="text">10 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_FittingsMember', window );">Fittings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PropertyPlantAndEquipmentUsefulLife', window );">Property, plant and equipment, useful life (Year)</a></td>
<td class="text">10 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_ExternalUseAssetsMember', window );">External use assets [member] | Bottom of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PropertyPlantAndEquipmentUsefulLife', window );">Property, plant and equipment, useful life (Year)</a></td>
<td class="text">2 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_ExternalUseAssetsMember', window );">External use assets [member] | Top of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PropertyPlantAndEquipmentUsefulLife', window );">Property, plant and equipment, useful life (Year)</a></td>
<td class="text">5 years<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PropertyPlantAndEquipmentUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The useful lives of property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PropertyPlantAndEquipmentUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_BuildingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_PlantAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_PlantAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_FixturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_FixturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_FittingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_FittingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_ExternalUseAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_ExternalUseAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>93
<FILENAME>R77.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6831127872">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 5 - Segment Reporting - Reportable Segments (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 47,899.3<span></span>
</td>
<td class="nump">R$ 45,602.6<span></span>
</td>
<td class="nump">R$ 46,720.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Cost of sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(18,041.8)<span></span>
</td>
<td class="num">(16,678.0)<span></span>
</td>
<td class="num">(16,061.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">29,857.5<span></span>
</td>
<td class="nump">28,924.6<span></span>
</td>
<td class="nump">30,658.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DistributionCosts', window );">Distribution expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(6,295.5)<span></span>
</td>
<td class="num">(6,085.5)<span></span>
</td>
<td class="num">(5,833.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesAndMarketingExpense', window );">Sales and marketing expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,620.0)<span></span>
</td>
<td class="num">(5,925.0)<span></span>
</td>
<td class="num">(5,344.7)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">Administrative expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,623.8)<span></span>
</td>
<td class="num">(2,166.1)<span></span>
</td>
<td class="num">(2,281.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income/(expenses), net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,217.3<span></span>
</td>
<td class="nump">1,223.1<span></span>
</td>
<td class="nump">1,936.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ExceptionalItems', window );">Exceptional items</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(108.7)<span></span>
</td>
<td class="nump">1,134.3<span></span>
</td>
<td class="num">(357.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Income from operations (EBIT)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16,426.8<span></span>
</td>
<td class="nump">17,105.4<span></span>
</td>
<td class="nump">18,778.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Net finance cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(3,493.9)<span></span>
</td>
<td class="num">(3,702.0)<span></span>
</td>
<td class="num">(2,268.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of result of joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(3.1)<span></span>
</td>
<td class="num">(5.0)<span></span>
</td>
<td class="nump">3.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">12,929.8<span></span>
</td>
<td class="nump">13,398.4<span></span>
</td>
<td class="nump">16,513.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,079.3)<span></span>
</td>
<td class="num">(315.0)<span></span>
</td>
<td class="num">(3,634.2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net Income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,850.5<span></span>
</td>
<td class="nump">13,083.4<span></span>
</td>
<td class="nump">12,879.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDA', window );">Normalized EBITDA(iii)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">20,147.6<span></span>
</td>
<td class="nump">19,483.1<span></span>
</td>
<td class="nump">22,209.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss', window );">Depreciation. amortization and impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (3,612.1)<span></span>
</td>
<td class="num">R$ (3,512.0)<span></span>
</td>
<td class="num">R$ (3,074.6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDAMarginInPercentage', window );">Normalized EBITDA margin in %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">42.10%<span></span>
</td>
<td class="nump">42.70%<span></span>
</td>
<td class="nump">47.50%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities', window );">Acquisition of property, plant and equipment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 3,206.0<span></span>
</td>
<td class="nump">R$ 4,035.4<span></span>
</td>
<td class="nump">R$ 5,381.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">86,851.9<span></span>
</td>
<td class="nump">83,841.4<span></span>
</td>
<td class="nump">90,176.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">86,851.9<span></span>
</td>
<td class="nump">83,841.4<span></span>
</td>
<td class="nump">90,176.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember', window );">Operating segments [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">70,575.1<span></span>
</td>
<td class="nump">71,329.8<span></span>
</td>
<td class="nump">69,304.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">32,747.0<span></span>
</td>
<td class="nump">31,811.0<span></span>
</td>
<td class="nump">29,701.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_EliminationOfIntersegmentAmountsMember', window );">Elimination of intersegment amounts [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(3,077.7)<span></span>
</td>
<td class="num">(3,968.1)<span></span>
</td>
<td class="num">(1,996.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(3,077.7)<span></span>
</td>
<td class="num">(3,968.1)<span></span>
</td>
<td class="num">(1,996.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_UnallocatedAmountsMember', window );">Unallocated amounts [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">19,354.5<span></span>
</td>
<td class="nump">16,479.7<span></span>
</td>
<td class="nump">22,868.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">57,182.6<span></span>
</td>
<td class="nump">55,998.5<span></span>
</td>
<td class="nump">62,471.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentMember', window );">North Latin America segment [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">31,086.0<span></span>
</td>
<td class="nump">28,927.8<span></span>
</td>
<td class="nump">29,654.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Cost of sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(11,935.0)<span></span>
</td>
<td class="num">(10,870.4)<span></span>
</td>
<td class="num">(9,921.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">19,151.0<span></span>
</td>
<td class="nump">18,057.4<span></span>
</td>
<td class="nump">19,733.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DistributionCosts', window );">Distribution expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(4,193.8)<span></span>
</td>
<td class="num">(3,965.4)<span></span>
</td>
<td class="num">(3,709.6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesAndMarketingExpense', window );">Sales and marketing expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(3,655.5)<span></span>
</td>
<td class="num">(3,671.1)<span></span>
</td>
<td class="num">(3,264.0)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">Administrative expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(1,954.1)<span></span>
</td>
<td class="num">(1,486.3)<span></span>
</td>
<td class="num">(1,599.8)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income/(expenses), net</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">1,170.5<span></span>
</td>
<td class="nump">1,283.7<span></span>
</td>
<td class="nump">1,871.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ExceptionalItems', window );">Exceptional items</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(56.1)<span></span>
</td>
<td class="nump">1,183.2<span></span>
</td>
<td class="num">(273.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Income from operations (EBIT)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">10,462.0<span></span>
</td>
<td class="nump">11,401.5<span></span>
</td>
<td class="nump">12,757.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Net finance cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(2,693.3)<span></span>
</td>
<td class="num">(3,694.5)<span></span>
</td>
<td class="num">(1,842.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of result of joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(4.7)<span></span>
</td>
<td class="num">(6.8)<span></span>
</td>
<td class="nump">1.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">7,764.0<span></span>
</td>
<td class="nump">7,700.2<span></span>
</td>
<td class="nump">10,916.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">(3,309.5)<span></span>
</td>
<td class="nump">1,100.1<span></span>
</td>
<td class="num">(1,884.7)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net Income</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">4,454.5<span></span>
</td>
<td class="nump">8,800.3<span></span>
</td>
<td class="nump">9,032.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDA', window );">Normalized EBITDA(iii)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">13,233.9<span></span>
</td>
<td class="nump">12,805.0<span></span>
</td>
<td class="nump">15,274.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss', window );">Depreciation. amortization and impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="num">R$ (2,715.8)<span></span>
</td>
<td class="num">R$ (2,586.7)<span></span>
</td>
<td class="num">R$ (2,242.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDAMarginInPercentage', window );">Normalized EBITDA margin in %</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">42.60%<span></span>
</td>
<td class="nump">44.30%<span></span>
</td>
<td class="nump">51.50%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities', window );">Acquisition of property, plant and equipment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">R$ 1,862.0<span></span>
</td>
<td class="nump">R$ 2,352.0<span></span>
</td>
<td class="nump">R$ 3,442.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentMember', window );">North Latin America segment [member] | Operating segments [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">48,811.7<span></span>
</td>
<td class="nump">50,935.0<span></span>
</td>
<td class="nump">47,282.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">23,031.6<span></span>
</td>
<td class="nump">22,958.9<span></span>
</td>
<td class="nump">20,998.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentMember', window );">North Latin America segment [member] | Elimination of intersegment amounts [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentMember', window );">North Latin America segment [member] | Unallocated amounts [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_SouthLatinAmericaSegmentMember', window );">South Latin America segment [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">10,769.7<span></span>
</td>
<td class="nump">10,212.9<span></span>
</td>
<td class="nump">11,255.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Cost of sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(4,122.6)<span></span>
</td>
<td class="num">(3,685.4)<span></span>
</td>
<td class="num">(4,306.8)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">6,647.1<span></span>
</td>
<td class="nump">6,527.5<span></span>
</td>
<td class="nump">6,948.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DistributionCosts', window );">Distribution expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(1,007.9)<span></span>
</td>
<td class="num">(979.6)<span></span>
</td>
<td class="num">(1,047.5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesAndMarketingExpense', window );">Sales and marketing expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(1,091.3)<span></span>
</td>
<td class="num">(1,317.6)<span></span>
</td>
<td class="num">(1,294.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">Administrative expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(384.5)<span></span>
</td>
<td class="num">(400.2)<span></span>
</td>
<td class="num">(428.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income/(expenses), net</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">41.2<span></span>
</td>
<td class="num">(39.0)<span></span>
</td>
<td class="nump">60.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ExceptionalItems', window );">Exceptional items</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(41.3)<span></span>
</td>
<td class="num">(41.5)<span></span>
</td>
<td class="num">(39.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Income from operations (EBIT)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">4,163.3<span></span>
</td>
<td class="nump">3,749.6<span></span>
</td>
<td class="nump">4,198.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Net finance cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(709.5)<span></span>
</td>
<td class="num">(439.0)<span></span>
</td>
<td class="num">(868.6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of result of joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">3,453.8<span></span>
</td>
<td class="nump">3,310.6<span></span>
</td>
<td class="nump">3,330.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">(1,144.1)<span></span>
</td>
<td class="num">(814.0)<span></span>
</td>
<td class="num">(1,154.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net Income</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">2,309.7<span></span>
</td>
<td class="nump">2,496.6<span></span>
</td>
<td class="nump">2,176.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDA', window );">Normalized EBITDA(iii)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[3]</sup></td>
<td class="nump">4,866.6<span></span>
</td>
<td class="nump">4,501.7<span></span>
</td>
<td class="nump">4,877.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss', window );">Depreciation. amortization and impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="num">R$ (662.0)<span></span>
</td>
<td class="num">R$ (710.6)<span></span>
</td>
<td class="num">R$ (639.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDAMarginInPercentage', window );">Normalized EBITDA margin in %</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">45.20%<span></span>
</td>
<td class="nump">44.10%<span></span>
</td>
<td class="nump">43.30%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities', window );">Acquisition of property, plant and equipment</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">R$ 1,051.2<span></span>
</td>
<td class="nump">R$ 1,365.5<span></span>
</td>
<td class="nump">R$ 1,654.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_SouthLatinAmericaSegmentMember', window );">South Latin America segment [member] | Operating segments [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">11,558.5<span></span>
</td>
<td class="nump">11,149.0<span></span>
</td>
<td class="nump">12,757.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[3]</sup></td>
<td class="nump">6,015.2<span></span>
</td>
<td class="nump">5,576.4<span></span>
</td>
<td class="nump">5,093.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_SouthLatinAmericaSegmentMember', window );">South Latin America segment [member] | Elimination of intersegment amounts [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_SouthLatinAmericaSegmentMember', window );">South Latin America segment [member] | Unallocated amounts [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember', window );">North Latin America segment - Central America Operations, excluding Latin America South segment [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,733.0<span></span>
</td>
<td class="nump">3,973.2<span></span>
</td>
<td class="nump">3,328.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Cost of sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,045.6)<span></span>
</td>
<td class="num">(1,798.6)<span></span>
</td>
<td class="num">(1,563.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,687.4<span></span>
</td>
<td class="nump">2,174.6<span></span>
</td>
<td class="nump">1,765.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DistributionCosts', window );">Distribution expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(538.6)<span></span>
</td>
<td class="num">(409.9)<span></span>
</td>
<td class="num">(357.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesAndMarketingExpense', window );">Sales and marketing expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(526.4)<span></span>
</td>
<td class="num">(456.7)<span></span>
</td>
<td class="num">(390.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">Administrative expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(265.0)<span></span>
</td>
<td class="num">(171.7)<span></span>
</td>
<td class="num">(158.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income/(expenses), net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">77.8<span></span>
</td>
<td class="nump">9.6<span></span>
</td>
<td class="num">(0.2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ExceptionalItems', window );">Exceptional items</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(23.1)<span></span>
</td>
<td class="num">(13.5)<span></span>
</td>
<td class="num">(8.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Income from operations (EBIT)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,412.1<span></span>
</td>
<td class="nump">1,132.4<span></span>
</td>
<td class="nump">851.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Net finance cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(46.5)<span></span>
</td>
<td class="num">(9.2)<span></span>
</td>
<td class="nump">42.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of result of joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6.0<span></span>
</td>
<td class="nump">19.0<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,371.6<span></span>
</td>
<td class="nump">1,142.2<span></span>
</td>
<td class="nump">894.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(353.5)<span></span>
</td>
<td class="num">(318.8)<span></span>
</td>
<td class="num">(269.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net Income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,018.1<span></span>
</td>
<td class="nump">823.4<span></span>
</td>
<td class="nump">624.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDA', window );">Normalized EBITDA(iii)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,842.0<span></span>
</td>
<td class="nump">1,483.8<span></span>
</td>
<td class="nump">1,173.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss', window );">Depreciation. amortization and impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (406.8)<span></span>
</td>
<td class="num">R$ (338.0)<span></span>
</td>
<td class="num">R$ (314.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDAMarginInPercentage', window );">Normalized EBITDA margin in %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">38.90%<span></span>
</td>
<td class="nump">37.30%<span></span>
</td>
<td class="nump">35.30%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentBrazilBeerOperationsMember', window );">North Latin America Segment - Brazil beer operations [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 22,509.3<span></span>
</td>
<td class="nump">R$ 21,173.1<span></span>
</td>
<td class="nump">R$ 22,441.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Cost of sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(7,895.1)<span></span>
</td>
<td class="num">(7,339.9)<span></span>
</td>
<td class="num">(6,757.6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">14,614.2<span></span>
</td>
<td class="nump">13,833.2<span></span>
</td>
<td class="nump">15,683.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DistributionCosts', window );">Distribution expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,961.0)<span></span>
</td>
<td class="num">(2,891.7)<span></span>
</td>
<td class="num">(2,754.0)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesAndMarketingExpense', window );">Sales and marketing expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,953.6)<span></span>
</td>
<td class="num">(3,044.0)<span></span>
</td>
<td class="num">(2,691.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">Administrative expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,476.3)<span></span>
</td>
<td class="num">(1,160.2)<span></span>
</td>
<td class="num">(1,341.5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income/(expenses), net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">825.0<span></span>
</td>
<td class="nump">969.8<span></span>
</td>
<td class="nump">1,551.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ExceptionalItems', window );">Exceptional items</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(28.2)<span></span>
</td>
<td class="nump">1,014.3<span></span>
</td>
<td class="num">(265.2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Income from operations (EBIT)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8,020.1<span></span>
</td>
<td class="nump">8,721.4<span></span>
</td>
<td class="nump">10,182.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Net finance cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,646.8)<span></span>
</td>
<td class="num">(3,685.3)<span></span>
</td>
<td class="num">(1,885.7)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of result of joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(10.7)<span></span>
</td>
<td class="num">(25.8)<span></span>
</td>
<td class="nump">1.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,362.6<span></span>
</td>
<td class="nump">5,010.3<span></span>
</td>
<td class="nump">8,299.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,956.0)<span></span>
</td>
<td class="nump">1,418.9<span></span>
</td>
<td class="num">(1,615.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net Income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,406.6<span></span>
</td>
<td class="nump">6,429.2<span></span>
</td>
<td class="nump">6,683.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDA', window );">Normalized EBITDA(iii)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">10,047.3<span></span>
</td>
<td class="nump">9,618.6<span></span>
</td>
<td class="nump">12,038.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss', window );">Depreciation. amortization and impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (1,999.0)<span></span>
</td>
<td class="num">R$ (1,911.5)<span></span>
</td>
<td class="num">R$ (1,590.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDAMarginInPercentage', window );">Normalized EBITDA margin in %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">44.50%<span></span>
</td>
<td class="nump">45.40%<span></span>
</td>
<td class="nump">53.60%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_CanadaSegmentMember', window );">Canada segment [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 6,043.6<span></span>
</td>
<td class="nump">R$ 6,461.9<span></span>
</td>
<td class="nump">R$ 5,809.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Cost of sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,984.2)<span></span>
</td>
<td class="num">(2,122.2)<span></span>
</td>
<td class="num">(1,833.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,059.4<span></span>
</td>
<td class="nump">4,339.7<span></span>
</td>
<td class="nump">3,976.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DistributionCosts', window );">Distribution expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,093.8)<span></span>
</td>
<td class="num">(1,140.5)<span></span>
</td>
<td class="num">(1,076.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesAndMarketingExpense', window );">Sales and marketing expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(873.2)<span></span>
</td>
<td class="num">(936.3)<span></span>
</td>
<td class="num">(785.9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">Administrative expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(285.2)<span></span>
</td>
<td class="num">(279.6)<span></span>
</td>
<td class="num">(253.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income/(expenses), net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5.6<span></span>
</td>
<td class="num">(21.6)<span></span>
</td>
<td class="nump">4.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ExceptionalItems', window );">Exceptional items</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(11.3)<span></span>
</td>
<td class="num">(7.4)<span></span>
</td>
<td class="num">(43.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Income from operations (EBIT)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,801.5<span></span>
</td>
<td class="nump">1,954.3<span></span>
</td>
<td class="nump">1,821.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Net finance cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(91.1)<span></span>
</td>
<td class="nump">431.5<span></span>
</td>
<td class="nump">443.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of result of joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1.6<span></span>
</td>
<td class="nump">1.8<span></span>
</td>
<td class="nump">1.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,712.0<span></span>
</td>
<td class="nump">2,387.6<span></span>
</td>
<td class="nump">2,266.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(625.7)<span></span>
</td>
<td class="num">(601.1)<span></span>
</td>
<td class="num">(595.5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net Income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,086.3<span></span>
</td>
<td class="nump">1,786.5<span></span>
</td>
<td class="nump">1,670.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDA', window );">Normalized EBITDA(iii)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">2,047.1<span></span>
</td>
<td class="nump">2,176.4<span></span>
</td>
<td class="nump">2,057.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss', window );">Depreciation. amortization and impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (234.3)<span></span>
</td>
<td class="num">R$ (214.7)<span></span>
</td>
<td class="num">R$ (192.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDAMarginInPercentage', window );">Normalized EBITDA margin in %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">33.90%<span></span>
</td>
<td class="nump">33.70%<span></span>
</td>
<td class="nump">35.40%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities', window );">Acquisition of property, plant and equipment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 292.8<span></span>
</td>
<td class="nump">R$ 317.9<span></span>
</td>
<td class="nump">R$ 285.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_CanadaSegmentMember', window );">Canada segment [member] | Operating segments [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,204.9<span></span>
</td>
<td class="nump">9,245.8<span></span>
</td>
<td class="nump">9,264.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,700.2<span></span>
</td>
<td class="nump">3,275.7<span></span>
</td>
<td class="nump">3,608.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_CanadaSegmentMember', window );">Canada segment [member] | Elimination of intersegment amounts [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_CanadaSegmentMember', window );">Canada segment [member] | Unallocated amounts [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Assets', window );">Total assets</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EquityAndLiabilities', window );">Total liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentBrazilMember', window );">North Latin America segment - Brazil [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">26,353.0<span></span>
</td>
<td class="nump">24,954.6<span></span>
</td>
<td class="nump">26,326.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Cost of sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(9,889.4)<span></span>
</td>
<td class="num">(9,071.8)<span></span>
</td>
<td class="num">(8,358.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16,463.6<span></span>
</td>
<td class="nump">15,882.8<span></span>
</td>
<td class="nump">17,967.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DistributionCosts', window );">Distribution expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(3,655.2)<span></span>
</td>
<td class="num">(3,555.5)<span></span>
</td>
<td class="num">(3,352.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesAndMarketingExpense', window );">Sales and marketing expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(3,129.1)<span></span>
</td>
<td class="num">(3,214.4)<span></span>
</td>
<td class="num">(2,873.9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">Administrative expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,689.1)<span></span>
</td>
<td class="num">(1,314.6)<span></span>
</td>
<td class="num">(1,441.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income/(expenses), net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,092.7<span></span>
</td>
<td class="nump">1,274.1<span></span>
</td>
<td class="nump">1,871.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ExceptionalItems', window );">Exceptional items</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(33.0)<span></span>
</td>
<td class="nump">1,196.7<span></span>
</td>
<td class="num">(265.5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Income from operations (EBIT)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">9,049.9<span></span>
</td>
<td class="nump">10,269.1<span></span>
</td>
<td class="nump">11,906.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Net finance cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,646.8)<span></span>
</td>
<td class="num">(3,685.3)<span></span>
</td>
<td class="num">(1,885.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of result of joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(10.7)<span></span>
</td>
<td class="num">(25.8)<span></span>
</td>
<td class="nump">1.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6,392.4<span></span>
</td>
<td class="nump">6,558.0<span></span>
</td>
<td class="nump">10,022.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(2,956.0)<span></span>
</td>
<td class="nump">1,418.9<span></span>
</td>
<td class="num">(1,615.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net Income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,436.4<span></span>
</td>
<td class="nump">7,976.9<span></span>
</td>
<td class="nump">8,407.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDA', window );">Normalized EBITDA(iii)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">11,391.9<span></span>
</td>
<td class="nump">11,321.2<span></span>
</td>
<td class="nump">14,100.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss', window );">Depreciation. amortization and impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (2,309.0)<span></span>
</td>
<td class="num">R$ (2,248.7)<span></span>
</td>
<td class="num">R$ (1,928.8)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDAMarginInPercentage', window );">Normalized EBITDA margin in %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">43.20%<span></span>
</td>
<td class="nump">45.40%<span></span>
</td>
<td class="nump">53.60%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember', window );">North Latin America segment - Brazil soft drink and non-alcoholic and non-carbonated operations [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );">Net sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 3,843.7<span></span>
</td>
<td class="nump">R$ 3,781.5<span></span>
</td>
<td class="nump">R$ 3,884.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CostOfSales', window );">Cost of sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,994.3)<span></span>
</td>
<td class="num">(1,731.9)<span></span>
</td>
<td class="num">(1,600.7)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GrossProfit', window );">Gross profit</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,849.4<span></span>
</td>
<td class="nump">2,049.6<span></span>
</td>
<td class="nump">2,284.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DistributionCosts', window );">Distribution expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(694.2)<span></span>
</td>
<td class="num">(663.8)<span></span>
</td>
<td class="num">(598.2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SalesAndMarketingExpense', window );">Sales and marketing expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(175.5)<span></span>
</td>
<td class="num">(170.4)<span></span>
</td>
<td class="num">(182.6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeneralAndAdministrativeExpense', window );">Administrative expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(212.8)<span></span>
</td>
<td class="num">(154.4)<span></span>
</td>
<td class="num">(99.9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );">Other operating income/(expenses), net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">267.7<span></span>
</td>
<td class="nump">304.3<span></span>
</td>
<td class="nump">320.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ExceptionalItems', window );">Exceptional items</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(4.8)<span></span>
</td>
<td class="nump">182.4<span></span>
</td>
<td class="num">(0.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossFromOperatingActivities', window );">Income from operations (EBIT)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,029.8<span></span>
</td>
<td class="nump">1,547.7<span></span>
</td>
<td class="nump">1,723.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncomeCost', window );">Net finance cost</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod', window );">Share of result of joint ventures</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossBeforeTax', window );">Income before income tax</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,029.8<span></span>
</td>
<td class="nump">1,547.7<span></span>
</td>
<td class="nump">1,723.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLoss', window );">Net Income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,029.8<span></span>
</td>
<td class="nump">1,547.7<span></span>
</td>
<td class="nump">1,723.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDA', window );">Normalized EBITDA(iii)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[4]</sup></td>
<td class="nump">1,344.6<span></span>
</td>
<td class="nump">1,702.6<span></span>
</td>
<td class="nump">2,061.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss', window );">Depreciation. amortization and impairment</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (310.0)<span></span>
</td>
<td class="num">R$ (337.3)<span></span>
</td>
<td class="num">R$ (338.0)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NormalizedEBITDAMarginInPercentage', window );">Normalized EBITDA margin in %</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">35.80%<span></span>
</td>
<td class="nump">45.00%<span></span>
</td>
<td class="nump">53.10%<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Normalized EBITDA is calculated excluding of the net income the following effects: (i) Income tax expense, (iii) Share of results of joint ventures (iii) Net finance result, (iv) Exceptional items, and (v) Depreciation, amortization and impairment of property, plant and equipment.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Latin America - North: includes operations in Brazil, Luxembourg and CAC (El Salvador, Guatemala, Nicaragua, Dominican Republic, Saint Vincent, Dominica, Antigua, Cuba, Barbados and Panama).</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[3]</td>
<td style="vertical-align: top;" valign="top">Latin America - South: includes operations in Argentina, Bolivia, Chile, Paraguay and Uruguay. In addition Colombia, Ecuador and Peru, until December 31, 2016, due to exchange of shareholdings, according the Note 1 - Corporate information.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[4]</td>
<td style="vertical-align: top;" valign="top">Normalized EBITDA is calculated excluding of the net income the following effects: (i) Income tax expense, (iii) Share of results of joint ventures, (iii) Net finance result, (iv) Exceptional items, and (v) Depreciation, amortization and impairment of property, plant and equipment.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ExceptionalItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of exceptional items recorded in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ExceptionalItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NormalizedEBITDA">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognized for normalized earnings before interest, taxes, depreciation and amortization.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NormalizedEBITDA</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NormalizedEBITDAMarginInPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of the normalized earning before before interest, taxes, depreciation and amortization.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NormalizedEBITDAMarginInPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for depreciation and amortisation expense and impairment loss (reversal of impairment loss) to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Impairment loss; Depreciation and amortisation expense; Impairment loss (reversal of impairment loss) recognised in profit or loss; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDepreciationAndAmortisationExpenseAndImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of resources: (a) controlled by the entity as a result of past events; and (b) from which future economic benefits are expected to flow to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CostOfSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs relating to expenses directly or indirectly attributed to the goods or services sold, which may include, but are not limited to, costs previously included in the measurement of inventory that has now been sold, unallocated production overheads and abnormal amounts of production costs of inventories.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CostOfSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DistributionCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs relating to the distribution of goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DistributionCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EquityAndLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the entity's equity and liabilities. [Refer: Equity; Liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EquityAndLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncomeCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income or cost associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncomeCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to general and administrative activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GrossProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue less cost of sales. [Refer: Cost of sales; Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GrossProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations. [Refer: Continuing operations [member]; Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherOperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income (expense) that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherOperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total of income less expenses, excluding the components of other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 18<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_18_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective on first application of IFRS 9<br> -Name IFRS<br> -Number 4<br> -IssueDate 2017-01-01<br> -Paragraph 39L<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=4&amp;date=2017-03-01&amp;anchor=para_39L_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from continuing operations before tax expense or income. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) from operating activities of the entity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2017-01-01<br> -Paragraph IE33<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=32&amp;date=2017-03-01&amp;anchor=para_IE33&amp;doctype=Illustrative%20Examples<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossFromOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for the purchases of property, plant and equipment, classified as investing activities. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_16_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 18<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=18&amp;date=2017-03-02&amp;anchor=para_35_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SalesAndMarketingExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to the marketing and selling of goods or services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SalesAndMarketingExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entity's share of the profit (loss) of joint ventures accounted for using the equity method. [Refer: Investments accounted for using equity method; Joint ventures [member]; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_OperatingSegmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_EliminationOfIntersegmentAmountsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_EliminationOfIntersegmentAmountsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_UnallocatedAmountsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentConsolidationItemsAxis=ifrs-full_UnallocatedAmountsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=abev_SouthLatinAmericaSegmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=abev_SouthLatinAmericaSegmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentCentralAmericaOperationsExcludingLatinAmericaSouthSegmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentBrazilBeerOperationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentBrazilBeerOperationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=abev_CanadaSegmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=abev_CanadaSegmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentBrazilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SegmentsAxis=abev_NorthLatinAmericaSegmentBrazilSoftDrinkAndNonalcoholicAndNoncarbonatedOperationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>94
<FILENAME>R78.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828700640">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 6 - Net Sales - Reconiciliation Between Gross Sales and Net Sales (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoods', window );">Gross sales (i)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 72,411.0<span></span>
</td>
<td class="nump">R$ 79,551.1<span></span>
</td>
<td class="nump">R$ 97,214.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxExpenseOtherThanIncomeTaxExpense', window );">Excise duty</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(16,192.9)<span></span>
</td>
<td class="num">(16,345.2)<span></span>
</td>
<td class="num">(17,471.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_SalesDiscounts', window );">Discounts (i)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(8,318.8)<span></span>
</td>
<td class="num">(17,603.3)<span></span>
</td>
<td class="num">(33,022.3)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Revenue', window );"></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 47,899.3<span></span>
</td>
<td class="nump">R$ 45,602.6<span></span>
</td>
<td class="nump">R$ 46,720.2<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Variance resulting from the change in the billing method with direct effect on Gross sales and Discounts.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_SalesDiscounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the sales discounts recorded during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_SalesDiscounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Revenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The income arising in the course of an entity's ordinary activities. Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_32&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 33<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_33_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 103<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_103&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 18<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=18&amp;date=2017-03-02&amp;anchor=para_35_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_v&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 11: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Revenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromSaleOfGoods">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the sale of goods. [Refer: Revenue]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 18<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=18&amp;date=2017-03-02&amp;anchor=para_35_b_i&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromSaleOfGoods</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxExpenseOtherThanIncomeTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense exclusive of income tax expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxExpenseOtherThanIncomeTaxExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>95
<FILENAME>R79.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6806530208">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 7 - Other Operating Income/(Expenses) (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromGovernmentGrants', window );">Government grants/NPV of long term fiscal incentives</a></td>
<td class="nump">R$ 993.7<span></span>
</td>
<td class="nump">R$ 1,166.5<span></span>
</td>
<td class="nump">R$ 1,755.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForProvisions', window );">(Additions)/reversals to provisions</a></td>
<td class="num">(12.9)<span></span>
</td>
<td class="num">(132.9)<span></span>
</td>
<td class="num">(106.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment', window );">Gains/(losses) on disposal of property, plant and equipment, intangible assets and operation in associates</a></td>
<td class="nump">91.1<span></span>
</td>
<td class="nump">70.9<span></span>
</td>
<td class="nump">53.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherPortionsOfOtherOperatingIncomeExpense', window );">Other operating income/(expenses), net</a></td>
<td class="nump">145.4<span></span>
</td>
<td class="nump">118.6<span></span>
</td>
<td class="nump">233.4<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherOperatingIncomeExpense', window );"></a></td>
<td class="nump">R$ 1,217.3<span></span>
</td>
<td class="nump">R$ 1,223.1<span></span>
</td>
<td class="nump">R$ 1,936.1<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_OtherPortionsOfOtherOperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other operating income (expense) that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_OtherPortionsOfOtherOperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for provisions to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Provisions; Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gain on the disposal of property, plant and equipment. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 98<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_98_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsOnDisposalsOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherOperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of operating income (expense) that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherOperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromGovernmentGrants">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income recognised in relation to government grants. [Refer: Government grants]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 20<br> -IssueDate 2017-01-01<br> -Paragraph 39<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=20&amp;date=2017-03-01&amp;anchor=para_39_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromGovernmentGrants</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>96
<FILENAME>R80.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801923152">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Exceptional Items (Details Textual) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">1 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 01, 2017</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinanceCostsExceptionalItems', window );">Finance costs, exceptional items</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 977<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncomeTaxExpenseContinuingOperationsExceptionalItems', window );">Tax income (expense), exceptional items</a></td>
<td class="num">R$ (2,800)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_FinanceCostsExceptionalItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity related to exceptional items.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_FinanceCostsExceptionalItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncomeTaxExpenseContinuingOperationsExceptionalItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations regarding exceptional items.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncomeTaxExpenseContinuingOperationsExceptionalItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>97
<FILENAME>R81.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6829677440">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 8 - Exceptional Items - Exceptional Items Included in the Income Statement (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AdjustmentsForGainsLossesOnStockExchange', window );">Result through exchange transaction of shareholdings(i)</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">R$ 1,240.0<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseOfRestructuringActivities', window );">Restructuring</a></td>
<td class="num">(105.5)<span></span>
</td>
<td class="num">(79.8)<span></span>
</td>
<td class="num">(63.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnLitigationSettlements', window );">Administrative lawsuit</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(239.2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination', window );">Costs arising from business combinations</a></td>
<td class="num">(3.8)<span></span>
</td>
<td class="num">(29.8)<span></span>
</td>
<td class="num">(48.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherExceptionalItems', window );">Others</a></td>
<td class="nump">0.6<span></span>
</td>
<td class="nump">3.9<span></span>
</td>
<td class="num">(5.8)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ExceptionalItems', window );"></a></td>
<td class="num">R$ (108.7)<span></span>
</td>
<td class="nump">R$ 1,134.3<span></span>
</td>
<td class="num">R$ (357.2)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AdjustmentsForGainsLossesOnStockExchange">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The adjustment for gains (losses) on stock exchanges.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AdjustmentsForGainsLossesOnStockExchange</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ExceptionalItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of exceptional items recorded in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ExceptionalItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_OtherExceptionalItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other exceptional items recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_OtherExceptionalItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of acquisition-related costs for transactions recognised separately from the acquisition of assets and the assumption of liabilities in business combinations. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B64<br> -Subparagraph m<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B64_m&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionrelatedCostsForTransactionRecognisedSeparatelyFromAcquisitionOfAssetsAndAssumptionOfLiabilitiesInBusinessCombination</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseOfRestructuringActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense relating to restructuring. Restructuring is a programme that is planned and controlled by management and materially changes either the scope of a business undertaken by an entity or the manner in which that business is conducted. Such programmes include: (a) the sale or termination of a line of business; (b) closure of business locations in a country or region or the relocation of activities from one country or region to another; (c) changes in management structure; and (d) fundamental reorganisations that have a material effect on the nature and focus of the entity's operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 98<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_98_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseOfRestructuringActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnLitigationSettlements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on settlements of litigation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 98<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_98_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnLitigationSettlements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822981488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Payroll and Related Benefits - Schedule of Payroll and Related Benefits (Details) - BRL (R$)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WagesAndSalaries', window );">Wages and salaries</a></td>
<td class="nump">R$ 3,371,200,000<span></span>
</td>
<td class="nump">R$ 3,038,900,000<span></span>
</td>
<td class="nump">R$ 3,086,500,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SocialSecurityContributions', window );">Social security contributions</a></td>
<td class="nump">741,100,000<span></span>
</td>
<td class="nump">727,200,000<span></span>
</td>
<td class="nump">756,100,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherEmployeeExpense', window );">Other personnel cost</a></td>
<td class="nump">616,200,000<span></span>
</td>
<td class="nump">613,800,000<span></span>
</td>
<td class="nump">561,300,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans', window );">Increase in liabilities for defined benefit plans</a></td>
<td class="nump">138,700,000<span></span>
</td>
<td class="nump">151,700,000<span></span>
</td>
<td class="nump">142,300,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees', window );">Expense from share-based payment transactions with employees</a></td>
<td class="nump">236,900,000<span></span>
</td>
<td class="nump">189,300,000<span></span>
</td>
<td class="nump">209,400,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans', window );">Contributions to defined contribution plans</a></td>
<td class="nump">18,900,000<span></span>
</td>
<td class="nump">25,300,000<span></span>
</td>
<td class="nump">19,000,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EmployeeBenefitsExpense', window );"></a></td>
<td class="nump">R$ 5,123,000,000<span></span>
</td>
<td class="nump">R$ 4,746,200,000<span></span>
</td>
<td class="nump">R$ 4,774,600,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EmployeeBenefitsExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expense of all forms of consideration given by an entity in exchange for a service rendered by employees or for the termination of employment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 104<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EmployeeBenefitsExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense from share-based payment transactions with employees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherEmployeeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of employee expenses that the entity does not separately disclose in the same statement or note.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 5<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_5&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherEmployeeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of post-employment benefit expense relating to defined benefit plans. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 5<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_5&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of post-employment benefit expense relating to defined contribution plans. Defined contribution plans are post-employment benefit plans under which an entity pays fixed contributions into a separate entity (a fund) and will have no legal or constructive obligation to pay further contributions if the fund does not hold sufficient assets to pay all employee benefits relating to employee service in the current and prior periods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 53<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_53&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SocialSecurityContributions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A class of employee benefits expense that represents social security contributions. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 9<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_9&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SocialSecurityContributions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WagesAndSalaries">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A class of employee benefits expense that represents wages and salaries. [Refer: Employee benefits expense]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 9<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_9&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WagesAndSalaries</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>99
<FILENAME>R83.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6823734208">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 9 - Payroll and Related Benefits - Payroll and Related Benefits Income Statement Presentation (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_EmployeeBenefitsExpenseCostOfSales', window );">Cost of sales</a></td>
<td class="nump">R$ 1,714.8<span></span>
</td>
<td class="nump">R$ 1,912.3<span></span>
</td>
<td class="nump">R$ 1,890.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_EmployeeBenefitsExpenseDistributionExpenses', window );">Distribution expenses</a></td>
<td class="nump">791.5<span></span>
</td>
<td class="nump">780.8<span></span>
</td>
<td class="nump">722.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_EmployeeBenefitsExpenseSalesAndMarketingExpenses', window );">Sales and marketing expenses</a></td>
<td class="nump">1,096.8<span></span>
</td>
<td class="nump">989.8<span></span>
</td>
<td class="nump">980.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_EmployeeBenefitsExpenseAdministrativeExpenses', window );">Administrative expenses</a></td>
<td class="nump">1,470.1<span></span>
</td>
<td class="nump">970.3<span></span>
</td>
<td class="nump">1,154.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_EmployeeBenefitsExpenseNetFinanceCosts', window );">Net finance cost</a></td>
<td class="nump">42.9<span></span>
</td>
<td class="nump">95.9<span></span>
</td>
<td class="nump">27.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_EmployeeBenefitsExpenseExceptionalItems', window );">Exceptional item</a></td>
<td class="nump">6.9<span></span>
</td>
<td class="num">(2.9)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EmployeeBenefitsExpense', window );"></a></td>
<td class="nump">R$ 5,123.0<span></span>
</td>
<td class="nump">R$ 4,746.2<span></span>
</td>
<td class="nump">R$ 4,774.6<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_EmployeeBenefitsExpenseAdministrativeExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of employee benefits expense allocated to administrative expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_EmployeeBenefitsExpenseAdministrativeExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_EmployeeBenefitsExpenseCostOfSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of employee benefits expense allocated to cost of sales.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_EmployeeBenefitsExpenseCostOfSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_EmployeeBenefitsExpenseDistributionExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of employee benefits expense allocated to distribution expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_EmployeeBenefitsExpenseDistributionExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_EmployeeBenefitsExpenseExceptionalItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of employee benefits expense allocated to exceptional items.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_EmployeeBenefitsExpenseExceptionalItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_EmployeeBenefitsExpenseNetFinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of employee benefits expense allocated to net finance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_EmployeeBenefitsExpenseNetFinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_EmployeeBenefitsExpenseSalesAndMarketingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of employee benefits expense allocated to sales and marketing expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_EmployeeBenefitsExpenseSalesAndMarketingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EmployeeBenefitsExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expense of all forms of consideration given by an entity in exchange for a service rendered by employees or for the termination of employment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 102<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_102&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 99<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_99&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 104<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_104&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EmployeeBenefitsExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
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<FILENAME>R84.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6803439376">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 10 - Additional Information on Operating Expenses by Nature - Depreciation, Amortization and Impairment Expenses (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DepreciationExpenseCostOfSales', window );">Depreciation and impairment of property, plant and equipment, cost of sales</a></td>
<td class="nump">R$ 2,364.7<span></span>
</td>
<td class="nump">R$ 2,283.3<span></span>
</td>
<td class="nump">R$ 2,053.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AmortisationExpenseCostOfSales', window );">Amortization of intangible assets, cost of sales</a></td>
<td class="nump">6.2<span></span>
</td>
<td class="nump">4.3<span></span>
</td>
<td class="nump">3.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DepreciationExpenseDistributionExpenses', window );">Depreciation and impairment of property, plant and equipment, distribution expenses</a></td>
<td class="nump">197.6<span></span>
</td>
<td class="nump">200.9<span></span>
</td>
<td class="nump">177.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AmortisationExpenseDistributionExpenses', window );">Amortization of intangible assets, distribution expenses</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DepreciationExpenseSalesAndMarketingExpenses', window );">Depreciation and impairment of property, plant and equipment, sales and marketing expenses</a></td>
<td class="nump">532.2<span></span>
</td>
<td class="nump">538.0<span></span>
</td>
<td class="nump">431.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AmortisationExpenseSalesAndMarketingExpenses', window );">Amortization of intangible assets, sales and marketing expenses</a></td>
<td class="nump">142.3<span></span>
</td>
<td class="nump">222.9<span></span>
</td>
<td class="nump">162.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DepreciationExpenseAdministrativeExpenses', window );">Depreciation and impairment of property, plant and equipment, administrative expenses</a></td>
<td class="nump">231.1<span></span>
</td>
<td class="nump">182.5<span></span>
</td>
<td class="nump">165.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AmortisationExpenseAdministrativeExpenses', window );">Amortization of intangible assets, administrative expenses</a></td>
<td class="nump">142.0<span></span>
</td>
<td class="nump">95.8<span></span>
</td>
<td class="nump">81.5<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationExpense', window );">Depreciation and impairment of property, plant and equipment</a></td>
<td class="nump">3,325.6<span></span>
</td>
<td class="nump">3,204.7<span></span>
</td>
<td class="nump">2,828.4<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationExpense', window );">Amortization of intangible assets</a></td>
<td class="nump">R$ 290.5<span></span>
</td>
<td class="nump">R$ 323.0<span></span>
</td>
<td class="nump">R$ 247.2<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AmortisationExpenseAdministrativeExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of amortisation expense allocated to administrative expenses. Amortisation is the systematic allocation of depreciable amounts of intangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AmortisationExpenseAdministrativeExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AmortisationExpenseCostOfSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of amortisation expense allocated to cost of sales. Amortisation is the systematic allocation of depreciable amounts of intangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AmortisationExpenseCostOfSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AmortisationExpenseDistributionExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of amortisation expense allocated to distribution expenses. Amortisation is the systematic allocation of depreciable amounts of intangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AmortisationExpenseDistributionExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AmortisationExpenseSalesAndMarketingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of amortisation expense allocated to sales and marketing expenses. Amortisation is the systematic allocation of depreciable amounts of intangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AmortisationExpenseSalesAndMarketingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DepreciationExpenseAdministrativeExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation expense allocated to administrative expenses. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DepreciationExpenseAdministrativeExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DepreciationExpenseCostOfSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation expense allocated to cost of sales. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DepreciationExpenseCostOfSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DepreciationExpenseDistributionExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation expense allocated to distribution expenses. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DepreciationExpenseDistributionExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DepreciationExpenseSalesAndMarketingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation expense allocated to sales and marketing expenses. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DepreciationExpenseSalesAndMarketingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmortisationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of amortisation expense. Amortisation is the systematic allocation of depreciable amounts of intangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmortisationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation expense. Depreciation is the systematic allocation of depreciable amounts of tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>101
<FILENAME>R85.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6806848176">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Finance Cost and Income - Finance Costs (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpense', window );">Interest expense</a></td>
<td class="num">R$ (1,571.6)<span></span>
</td>
<td class="num">R$ (1,547.3)<span></span>
</td>
<td class="num">R$ (1,062.6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingCostsCapitalised', window );">Capitalized borrowings</a></td>
<td class="nump">2.3<span></span>
</td>
<td class="nump">3.9<span></span>
</td>
<td class="nump">26.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NetInterestOnPensionPlans', window );">Net Interest on pension plans</a></td>
<td class="num">(77.6)<span></span>
</td>
<td class="num">(105.6)<span></span>
</td>
<td class="num">(97.6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnHedgingInstrument', window );">Losses on hedging instruments</a></td>
<td class="num">(616.7)<span></span>
</td>
<td class="num">(1,575.1)<span></span>
</td>
<td class="num">(1,267.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_InterestOnProvisionForContingencies', window );">Interest on provision for disputes and litigations</a></td>
<td class="num">(225.9)<span></span>
</td>
<td class="num">(619.5)<span></span>
</td>
<td class="num">(120.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetForeignExchangeLoss', window );">Exchange variation</a></td>
<td class="num">(339.5)<span></span>
</td>
<td class="num">(310.4)<span></span>
</td>
<td class="num">(721.8)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate', window );">Tax on financial transactions</a></td>
<td class="num">(179.7)<span></span>
</td>
<td class="num">(224.6)<span></span>
</td>
<td class="num">(146.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BankAndSimilarCharges', window );">Bank guarantee expenses</a></td>
<td class="num">(89.5)<span></span>
</td>
<td class="num">(87.1)<span></span>
</td>
<td class="num">(80.8)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherFinanceCost', window );">Other financial results</a></td>
<td class="num">(193.3)<span></span>
</td>
<td class="num">(132.2)<span></span>
</td>
<td class="num">(92.1)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinanceCostsExcludingNonrecurringFinanceCosts', window );"></a></td>
<td class="num">(3,291.5)<span></span>
</td>
<td class="num">(4,597.9)<span></span>
</td>
<td class="num">(3,562.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NonrecurringFinanceCosts', window );">Non-recurring finance cost</a></td>
<td class="num">(976.8)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceCosts', window );"></a></td>
<td class="num">R$ (4,268.3)<span></span>
</td>
<td class="num">R$ (4,597.9)<span></span>
</td>
<td class="num">R$ (3,562.4)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_FinanceCostsExcludingNonrecurringFinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity, excluding non-recurring finance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_FinanceCostsExcludingNonrecurringFinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_InterestOnProvisionForContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The interest on provisions for contingencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_InterestOnProvisionForContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NetInterestOnPensionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net interest on pension plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NetInterestOnPensionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NonrecurringFinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of nonrecurring costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NonrecurringFinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BankAndSimilarCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of bank and similar charges recognised by the entity as an expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BankAndSimilarCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingCostsCapitalised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest and other costs that an entity incurs in connection with the borrowing of funds that are directly attributable to the acquisition, construction or production of a qualifying asset and which form part of the cost of that asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 23<br> -IssueDate 2017-01-01<br> -Paragraph 26<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=23&amp;date=2017-03-01&amp;anchor=para_26_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingCostsCapitalised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of costs associated with financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnHedgingInstrument">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on hedging instruments in fair value hedges. [Refer: Fair value hedges [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_24_a_i&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnHedgingInstrument</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_f&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetForeignExchangeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net loss arising from foreign exchange differences. [Refer: Foreign exchange gain (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 21<br> -IssueDate 2017-01-01<br> -Paragraph 52<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=21&amp;date=2017-03-01&amp;anchor=para_52_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetForeignExchangeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherFinanceCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of finance costs that the entity does not separately disclose in the same statement or note. [Refer: Finance costs]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherFinanceCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxExpenseIncomeAtApplicableTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The product of the accounting profit multiplied by the applicable tax rate(s). [Refer: Accounting profit; Applicable tax rate]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxExpenseIncomeAtApplicableTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>102
<FILENAME>R86.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801801328">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Finance Cost and Income - Interest Expense (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpenseOnFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss', window );">Financial liabilities measured at amortized cost</a></td>
<td class="num">R$ (477.6)<span></span>
</td>
<td class="num">R$ (545.6)<span></span>
</td>
<td class="num">R$ (423.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_InterestExpenseOnLiabilitiesDesignatedAtFairValueThroughProfitOrLoss', window );">Liabilities at fair value through profit or loss</a></td>
<td class="num">(1,076.2)<span></span>
</td>
<td class="num">(961.0)<span></span>
</td>
<td class="num">(601.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_InterestExpenseFairValueHedgeOnHedgedItems', window );">Fair value hedge - hedged items</a></td>
<td class="num">(19.7)<span></span>
</td>
<td class="num">(49.3)<span></span>
</td>
<td class="num">(22.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_InterestExpenseFairValueHedgeOnHedgingInstruments', window );">Fair value hedge - hedging instruments</a></td>
<td class="nump">1.9<span></span>
</td>
<td class="nump">8.6<span></span>
</td>
<td class="num">(15.8)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpense', window );"></a></td>
<td class="num">R$ (1,571.6)<span></span>
</td>
<td class="num">R$ (1,547.3)<span></span>
</td>
<td class="num">R$ (1,062.6)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_InterestExpenseFairValueHedgeOnHedgedItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from interest through fair value hedging of hedged items.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_InterestExpenseFairValueHedgeOnHedgedItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_InterestExpenseFairValueHedgeOnHedgingInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from interest from fair values hedges from hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_InterestExpenseFairValueHedgeOnHedgingInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_InterestExpenseOnLiabilitiesDesignatedAtFairValueThroughProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on liabilities designated at fair value through profit or loss.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_InterestExpenseOnLiabilitiesDesignatedAtFairValueThroughProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense arising from interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_f&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseOnFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on financial liabilities designated at fair value through profit or loss. [Refer: Interest expense; Financial liabilities at fair value through profit or loss, designated upon initial recognition or subsequently]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseOnFinancialLiabilitiesDesignatedAtFairValueThroughProfitOrLoss</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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</body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>103
<FILENAME>R87.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6823602064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Finance Cost and Income - Finance Income (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromInterest', window );">Interest income</a></td>
<td class="nump">R$ 458.8<span></span>
</td>
<td class="nump">R$ 513.6<span></span>
</td>
<td class="nump">R$ 575.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossOnDesignationOfFinancialInstrumentAsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRisk', window );">Gains on derivative</a></td>
<td class="nump">73.7<span></span>
</td>
<td class="nump">113.5<span></span>
</td>
<td class="nump">428.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Financial assets at fair value through profit or loss</a></td>
<td class="nump">227.6<span></span>
</td>
<td class="nump">247.5<span></span>
</td>
<td class="nump">261.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherFinanceIncome', window );">Other financial results</a></td>
<td class="nump">14.3<span></span>
</td>
<td class="nump">21.3<span></span>
</td>
<td class="nump">29.0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinanceIncome', window );"></a></td>
<td class="nump">R$ 774.4<span></span>
</td>
<td class="nump">R$ 895.9<span></span>
</td>
<td class="nump">R$ 1,294.2<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income associated with interest and other financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 85<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_85&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainLossOnDesignationOfFinancialInstrumentAsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gain (loss) recognised on designation of a financial instrument, or a proportion of it, as measured at fair value through profit or loss, because a credit derivative is used to manage the credit risk of that financial instrument. [Refer: Credit risk [member]; Derivatives [member]; Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 24G<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_24G_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainLossOnDesignationOfFinancialInstrumentAsMeasuredAtFairValueThroughProfitOrLossBecauseCreditDerivativeIsUsedToManageCreditRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on financial assets at fair value through profit or loss. [Refer: Financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherFinanceIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of finance income that the entity does not separately disclose in the same statement or note. [Refer: Finance income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherFinanceIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income arising from interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 18<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=18&amp;date=2017-03-02&amp;anchor=para_35_b_iii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_e&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>104
<FILENAME>R88.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801889984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 11 - Finance Cost and Income - Interest Income (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestIncomeOnCashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="nump">R$ 233.4<span></span>
</td>
<td class="nump">R$ 241.5<span></span>
</td>
<td class="nump">R$ 425.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestIncomeOnFinancialAssetsHeldForTrading', window );">Investment securities held for trading</a></td>
<td class="nump">26.9<span></span>
</td>
<td class="nump">51.1<span></span>
</td>
<td class="nump">149.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestIncomeOnOtherFinancialAssets', window );">Other receivables</a></td>
<td class="nump">198.5<span></span>
</td>
<td class="nump">221.0<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromInterest', window );"></a></td>
<td class="nump">R$ 458.8<span></span>
</td>
<td class="nump">R$ 513.6<span></span>
</td>
<td class="nump">R$ 575.5<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestIncomeOnCashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest income on cash and cash equivalents. [Refer: Interest income; Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestIncomeOnCashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestIncomeOnFinancialAssetsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest income on financial assets held for trading. [Refer: Interest income; Financial assets at fair value through profit or loss, classified as held for trading]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestIncomeOnFinancialAssetsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestIncomeOnOtherFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest income on other financial assets. [Refer: Interest income; Other financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestIncomeOnOtherFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income arising from interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 28<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_28_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IAS<br> -Number 18<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=18&amp;date=2017-03-02&amp;anchor=para_35_b_iii&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_e&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802938256">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Income Tax and Social Contribution (Details Textual) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_InterestOnNetEquityDeductibleAndToBeDeductible', window );">Interest on net equity, deductible and to be deductible</a></td>
<td class="nump">R$ 4,869.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DeductibleInterestOnNetEquity', window );">Deductible Interest on net equity</a></td>
<td class="nump">4,850.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxImpactOfDeductibleInterestInNetEquity', window );">Tax impact of deductible interest in net equity</a></td>
<td class="nump">1,649.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_UnusedProvisionReversedOtherProvisions', window );">Unused provision reversed, other provisions</a></td>
<td class="nump">145.0<span></span>
</td>
<td class="nump">R$ 5.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Total tax expense (income)</a></td>
<td class="nump">5,079.3<span></span>
</td>
<td class="nump">R$ 315.0<span></span>
</td>
<td class="nump">R$ 3,634.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CrbsSaMember', window );">CRBS S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Total tax expense (income)</a></td>
<td class="nump">2,926.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncomeTaxExpenseContinuingOperationsNonrecurringFedeeralTaxAmenstyProgram', window );">Tax expense (income), continuing operations, non-recurring, Federal Tax Amnesty Program</a></td>
<td class="nump">2,785.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncomeTaxExpenseContinuingOperationsFinancialResultsFederalTaxAmnestyProgram', window );">Tax expense (income), continuing operations, financial results, Federal Tax Amnesty Program</a></td>
<td class="nump">R$ 141.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DeductibleInterestOnNetEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The deductible interest on net equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DeductibleInterestOnNetEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncomeTaxExpenseContinuingOperationsFinancialResultsFederalTaxAmnestyProgram">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount (regarding the Federal Tax Amnesty Program) included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations recorded in financial results.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncomeTaxExpenseContinuingOperationsFinancialResultsFederalTaxAmnestyProgram</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncomeTaxExpenseContinuingOperationsNonrecurringFedeeralTaxAmenstyProgram">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount (regarding the Federal Tax Amnesty Program) included in the determination of profit (loss) for the period in respect of nonrecurring current tax and deferred tax that relate to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncomeTaxExpenseContinuingOperationsNonrecurringFedeeralTaxAmenstyProgram</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_InterestOnNetEquityDeductibleAndToBeDeductible">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The interest on net equity that is deductible and will be deductible in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_InterestOnNetEquityDeductibleAndToBeDeductible</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TaxImpactOfDeductibleInterestInNetEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The tax impact of deductible interest in net equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TaxImpactOfDeductibleInterestInNetEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations. [Refer: Continuing operations [member]; Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_UnusedProvisionReversedOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount reversed for unused other provisions. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2017-01-01<br> -Paragraph 84<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=37&amp;date=2017-03-01&amp;anchor=para_84_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_UnusedProvisionReversedOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CrbsSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CrbsSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6806249184">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Income Tax and Social Contribution - Income Taxes Reported (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxExpenseIncome', window );">Income tax expense - current</a></td>
<td class="num">R$ (5,332.3)<span></span>
</td>
<td class="num">R$ (413.9)<span></span>
</td>
<td class="num">R$ (1,227.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences', window );">Deferred tax expense on temporary differences</a></td>
<td class="nump">891.9<span></span>
</td>
<td class="num">(732.5)<span></span>
</td>
<td class="num">(2,192.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForDeferredTaxExpense', window );">Deferred tax over taxes losses carryforwards movements in the current period</a></td>
<td class="num">(638.9)<span></span>
</td>
<td class="nump">831.4<span></span>
</td>
<td class="num">(214.0)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncome', window );">Total deferred tax (expense)/income</a></td>
<td class="nump">253.0<span></span>
</td>
<td class="nump">98.9<span></span>
</td>
<td class="num">(2,406.4)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Total income tax expenses</a></td>
<td class="num">R$ (5,079.3)<span></span>
</td>
<td class="num">R$ (315.0)<span></span>
</td>
<td class="num">R$ (3,634.2)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForDeferredTaxExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for deferred tax expense to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Deferred tax expense (income); Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForDeferredTaxExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income taxes payable (recoverable) in respect of the taxable profit (tax loss) for a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 80<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_80_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxExpenseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense (income) relating to changes in deferred tax liabilities and deferred tax assets. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax expense or income relating to the creation or reversal of temporary differences. [Refer: Temporary differences [member]; Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 80<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_80_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations. [Refer: Continuing operations [member]; Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6805219456">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 12 - Income Tax and Social Contribution - Reconciliation From the Weighted Nominal to the Effective Tax Rate (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AccountingProfit', window );">Income before tax</a></td>
<td class="nump">R$ 12,929.8<span></span>
</td>
<td class="nump">R$ 13,398.4<span></span>
</td>
<td class="nump">R$ 16,513.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AdjustmentOnTaxableBasisAbstract', window );"><strong>Adjustment on taxable basis</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011', window );">Non-taxable income</a></td>
<td class="num">(310.9)<span></span>
</td>
<td class="num">(392.0)<span></span>
</td>
<td class="num">(999.9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxEffectOfGovernmentGrantsRelatedToSalesTaxes', window );">Government grants related to sales taxes</a></td>
<td class="num">(1,889.1)<span></span>
</td>
<td class="num">(1,528.6)<span></span>
</td>
<td class="num">(1,360.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxEffectFromSharingResultsOfJointVentures', window );">Share of results of joint ventures</a></td>
<td class="nump">3.1<span></span>
</td>
<td class="nump">5.0<span></span>
</td>
<td class="num">(3.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss', window );">Non-deductible expenses</a></td>
<td class="nump">91.1<span></span>
</td>
<td class="nump">539.3<span></span>
</td>
<td class="nump">415.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxEffectOfForeignTaxRates', window );">Complement of income tax of foreign subsidiaries due in Brazil</a></td>
<td class="nump">560.4<span></span>
</td>
<td class="nump">148.0<span></span>
</td>
<td class="nump">1,965.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxEffectOfIntragroupTransactions', window );">Results of intercompany transactions non-taxable/not deductible in Brazil</a></td>
<td class="num">(547.5)<span></span>
</td>
<td class="nump">640.7<span></span>
</td>
<td class="num">(1,313.2)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NetAccountingProfit', window );"></a></td>
<td class="nump">R$ 10,836.9<span></span>
</td>
<td class="nump">R$ 12,810.8<span></span>
</td>
<td class="nump">R$ 15,217.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Aggregated weighted nominal tax rate</a></td>
<td class="nump">29.22%<span></span>
</td>
<td class="nump">30.16%<span></span>
</td>
<td class="nump">31.59%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTaxLiabilities', window );">Taxes payable &#8211; nominal rate</a></td>
<td class="num">R$ (3,166.6)<span></span>
</td>
<td class="num">R$ (3,864.0)<span></span>
</td>
<td class="num">R$ (4,806.9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AdjustmentOnTaxExpenseAbstract', window );"><strong>Adjustment on tax expense</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxEffectOfRegionalIncentives', window );">Regional incentives - income taxes</a></td>
<td class="nump">304.6<span></span>
</td>
<td class="nump">264.5<span></span>
</td>
<td class="nump">257.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxEffectOfDeductibleInterestOfShareholdersEquity', window );">Deductible interest on shareholders' equity</a></td>
<td class="nump">1,649.0<span></span>
</td>
<td class="nump">1,867.7<span></span>
</td>
<td class="nump">1,646.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxEffectOfImpairmentOfGoodwill', window );">Tax savings from goodwill amortization on tax books</a></td>
<td class="nump">175.2<span></span>
</td>
<td class="nump">142.0<span></span>
</td>
<td class="nump">142.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxEffectOfWithholdingTaxOverUndistributedProfits', window );">Withholding tax over undistributed profits</a></td>
<td class="num">(356.9)<span></span>
</td>
<td class="nump">153.1<span></span>
</td>
<td class="num">(672.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TaxEffectOfTaxLosses', window );">Recognition / write-off of deferred charges on tax losses</a></td>
<td class="num">(178.9)<span></span>
</td>
<td class="nump">796.7<span></span>
</td>
<td class="nump">138.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxEffectOfTheFederalTaxAmnestyProgram', window );">PERT 2017</a></td>
<td class="num">(2,784.7)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome', window );">Others with reduced taxation</a></td>
<td class="num">(721.0)<span></span>
</td>
<td class="nump">325.0<span></span>
</td>
<td class="num">(339.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxExpenseContinuingOperations', window );">Income tax and social contribution expense</a></td>
<td class="num">R$ (5,079.3)<span></span>
</td>
<td class="num">R$ (315.0)<span></span>
</td>
<td class="num">R$ (3,634.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AverageEffectiveTaxRate', window );">Effective tax rate</a></td>
<td class="nump">39.28%<span></span>
</td>
<td class="nump">2.35%<span></span>
</td>
<td class="nump">22.01%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AdjustmentOnTaxExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AdjustmentOnTaxExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AdjustmentOnTaxableBasisAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AdjustmentOnTaxableBasisAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NetAccountingProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) for a period after deducting tax expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NetAccountingProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TaxEffectFromSharingResultsOfJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to sharing results of joint ventures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TaxEffectFromSharingResultsOfJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TaxEffectOfDeductibleInterestOfShareholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to the deductible interest of shareholders equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TaxEffectOfDeductibleInterestOfShareholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TaxEffectOfGovernmentGrantsRelatedToSalesTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to the government grants related to sales taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TaxEffectOfGovernmentGrantsRelatedToSalesTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TaxEffectOfIntragroupTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount representing the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to the entity's intragroup transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TaxEffectOfIntragroupTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TaxEffectOfRegionalIncentives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to regional incentives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TaxEffectOfRegionalIncentives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TaxEffectOfTheFederalTaxAmnestyProgram">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The tax effect of the Federal Tax Amnesty Program.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TaxEffectOfTheFederalTaxAmnestyProgram</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TaxEffectOfWithholdingTaxOverUndistributedProfits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to withholding tax over undistributed profits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TaxEffectOfWithholdingTaxOverUndistributedProfits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AccountingProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) for a period before deducting tax expense. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AccountingProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ApplicableTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The applicable income tax rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ApplicableTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AverageEffectiveTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The tax expense (income) divided by the accounting profit. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AverageEffectiveTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current tax for current and prior periods to the extent unpaid. Current tax is the amount of income taxes payable (recoverable) in respect of the taxable profit (tax loss) for a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph n<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_n&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxExpenseContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount included in the determination of profit (loss) for the period in respect of current tax and deferred tax that relate to continuing operations. [Refer: Continuing operations [member]; Current tax expense (income); Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 8<br> -IssueDate 2017-01-01<br> -Paragraph 23<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=8&amp;date=2017-03-01&amp;anchor=para_23_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 26<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph b<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=26&amp;date=2017-03-01&amp;anchor=para_35_b_viii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 79<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_79&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 82<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_82_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_g&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxExpenseContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that the entity does not separately disclose in the same statement or note. [Refer: Accounting profit; Applicable tax rate]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherTaxEffectsForReconciliationBetweenAccountingProfitAndTaxExpenseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to expenses not deductible in determining taxable profit (tax loss). [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectOfExpenseNotDeductibleInDeterminingTaxableProfitTaxLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectOfForeignTaxRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to foreign tax rates. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectOfForeignTaxRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectOfImpairmentOfGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount representing the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to impairment of goodwill. [Refer: Accounting profit; Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectOfImpairmentOfGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to revenues that are exempt from taxation. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectOfRevenuesExemptFromTaxation2011</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TaxEffectOfTaxLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that represents the difference between the tax expense (income) and the product of the accounting profit multiplied by the applicable tax rate(s) that relates to tax losses. [Refer: Accounting profit]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TaxEffectOfTaxLosses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6824870368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 13 - Property, Plant and Equipment - Reconciliation of Changes in Property, Plant and Equipment (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">R$ 19,153.8<span></span>
</td>
<td class="nump">R$ 19,140.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">18,822.3<span></span>
</td>
<td class="nump">19,153.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">18,822.3<span></span>
</td>
<td class="nump">19,153.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandAndBuildingsMember', window );">Land and buildings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">6,052.0<span></span>
</td>
<td class="nump">5,474.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">6,376.0<span></span>
</td>
<td class="nump">6,052.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">6,052.0<span></span>
</td>
<td class="nump">6,052.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_PlantAndEquipmentMember', window );">Plant and equipment [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">9,689.0<span></span>
</td>
<td class="nump">9,807.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">9,565.1<span></span>
</td>
<td class="nump">9,689.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">9,689.0<span></span>
</td>
<td class="nump">9,689.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_FixturesAndFittingsMember', window );">Fixtures and fittings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">1,672.1<span></span>
</td>
<td class="nump">1,726.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">1,623.3<span></span>
</td>
<td class="nump">1,672.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">1,672.1<span></span>
</td>
<td class="nump">1,672.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ConstructionInProgressMember', window );">Construction in progress [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">1,740.7<span></span>
</td>
<td class="nump">2,132.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">1,257.9<span></span>
</td>
<td class="nump">1,740.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">1,740.7<span></span>
</td>
<td class="nump">1,740.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">37,419.4<span></span>
</td>
<td class="nump">36,685.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Effect of movements in foreign exchange</a></td>
<td class="nump">18.7<span></span>
</td>
<td class="num">(2,652.7)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Business combinations</a></td>
<td class="nump">204.2<span></span>
</td>
<td class="nump">700.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Acquisitions</a></td>
<td class="nump">3,175.5<span></span>
</td>
<td class="nump">4,009.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals</a></td>
<td class="num">(706.8)<span></span>
</td>
<td class="num">(1,012.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer to other asset categories</a></td>
<td class="num">(310.9)<span></span>
</td>
<td class="num">(173.0)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment', window );">Others</a></td>
<td class="nump">35.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">39,835.1<span></span>
</td>
<td class="nump">37,419.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">37,419.4<span></span>
</td>
<td class="nump">37,419.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AcquisitionsThroughStockExchangePropertyPlantAndEquipment', window );">Acquisitions through exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">433.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangePropertyPlantAndEquipment', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(571.4)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Land and buildings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">8,330.2<span></span>
</td>
<td class="nump">7,718.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Effect of movements in foreign exchange</a></td>
<td class="nump">3.1<span></span>
</td>
<td class="num">(474.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Business combinations</a></td>
<td class="nump">228.9<span></span>
</td>
<td class="nump">283.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Acquisitions</a></td>
<td class="nump">10.2<span></span>
</td>
<td class="nump">8.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals</a></td>
<td class="num">(25.9)<span></span>
</td>
<td class="num">(106.0)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer to other asset categories</a></td>
<td class="nump">415.4<span></span>
</td>
<td class="nump">800.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment', window );">Others</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">8,961.9<span></span>
</td>
<td class="nump">8,330.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">8,330.2<span></span>
</td>
<td class="nump">8,330.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AcquisitionsThroughStockExchangePropertyPlantAndEquipment', window );">Acquisitions through exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">221.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangePropertyPlantAndEquipment', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(121.0)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Plant and equipment [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">22,764.3<span></span>
</td>
<td class="nump">22,369.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Effect of movements in foreign exchange</a></td>
<td class="nump">34.6<span></span>
</td>
<td class="num">(1,528.0)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Business combinations</a></td>
<td class="num">(24.7)<span></span>
</td>
<td class="nump">360.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Acquisitions</a></td>
<td class="nump">626.1<span></span>
</td>
<td class="nump">819.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals</a></td>
<td class="num">(555.5)<span></span>
</td>
<td class="num">(693.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer to other asset categories</a></td>
<td class="nump">1,657.8<span></span>
</td>
<td class="nump">1,595.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment', window );">Others</a></td>
<td class="nump">36.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">24,538.8<span></span>
</td>
<td class="nump">22,764.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">22,764.3<span></span>
</td>
<td class="nump">22,764.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AcquisitionsThroughStockExchangePropertyPlantAndEquipment', window );">Acquisitions through exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">185.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangePropertyPlantAndEquipment', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(344.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Fixtures and fittings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">4,584.2<span></span>
</td>
<td class="nump">4,465.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Effect of movements in foreign exchange</a></td>
<td class="num">(27.3)<span></span>
</td>
<td class="num">(427.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Business combinations</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">56.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Acquisitions</a></td>
<td class="nump">171.8<span></span>
</td>
<td class="nump">276.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals</a></td>
<td class="num">(125.4)<span></span>
</td>
<td class="num">(210.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer to other asset categories</a></td>
<td class="nump">473.2<span></span>
</td>
<td class="nump">526.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment', window );">Others</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">5,076.5<span></span>
</td>
<td class="nump">4,584.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">4,584.2<span></span>
</td>
<td class="nump">4,584.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AcquisitionsThroughStockExchangePropertyPlantAndEquipment', window );">Acquisitions through exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangePropertyPlantAndEquipment', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(101.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Construction in progress [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">1,740.7<span></span>
</td>
<td class="nump">2,132.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Effect of movements in foreign exchange</a></td>
<td class="nump">8.3<span></span>
</td>
<td class="num">(222.6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Business combinations</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">0.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment', window );">Acquisitions</a></td>
<td class="nump">2,367.4<span></span>
</td>
<td class="nump">2,905.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(3.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer to other asset categories</a></td>
<td class="num">(2,857.3)<span></span>
</td>
<td class="num">(3,095.0)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment', window );">Others</a></td>
<td class="num">(1.2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">1,257.9<span></span>
</td>
<td class="nump">1,740.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="nump">1,740.7<span></span>
</td>
<td class="nump">1,740.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AcquisitionsThroughStockExchangePropertyPlantAndEquipment', window );">Acquisitions through exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangePropertyPlantAndEquipment', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(4.8)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="num">(18,265.6)<span></span>
</td>
<td class="num">(17,545.5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Effect of movements in foreign exchange</a></td>
<td class="num">(116.7)<span></span>
</td>
<td class="nump">1,137.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals</a></td>
<td class="nump">654.3<span></span>
</td>
<td class="nump">928.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer to other asset categories</a></td>
<td class="nump">33.0<span></span>
</td>
<td class="nump">61.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment', window );">Others</a></td>
<td class="nump">7.8<span></span>
</td>
<td class="nump">11.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="num">(21,012.8)<span></span>
</td>
<td class="num">(18,265.6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation</a></td>
<td class="num">(3,200.4)<span></span>
</td>
<td class="num">(3,083.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment', window );">Impairment losses</a></td>
<td class="num">(125.2)<span></span>
</td>
<td class="num">(120.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="num">(18,265.6)<span></span>
</td>
<td class="num">(18,265.6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangePropertyPlantAndEquipment', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">345.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Land and buildings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="num">(2,278.2)<span></span>
</td>
<td class="num">(2,244.0)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Effect of movements in foreign exchange</a></td>
<td class="num">(12.1)<span></span>
</td>
<td class="nump">95.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals</a></td>
<td class="nump">5.3<span></span>
</td>
<td class="nump">95.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer to other asset categories</a></td>
<td class="num">(1.9)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment', window );">Others</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="num">(2,585.9)<span></span>
</td>
<td class="num">(2,278.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation</a></td>
<td class="num">(299.0)<span></span>
</td>
<td class="num">(277.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment', window );">Impairment losses</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(0.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="num">(2,278.2)<span></span>
</td>
<td class="num">(2,278.2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangePropertyPlantAndEquipment', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">52.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Plant and equipment [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="num">(13,075.3)<span></span>
</td>
<td class="num">(12,562.6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Effect of movements in foreign exchange</a></td>
<td class="num">(104.9)<span></span>
</td>
<td class="nump">804.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals</a></td>
<td class="nump">539.5<span></span>
</td>
<td class="nump">646.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer to other asset categories</a></td>
<td class="nump">29.7<span></span>
</td>
<td class="nump">21.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment', window );">Others</a></td>
<td class="nump">7.8<span></span>
</td>
<td class="nump">11.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="num">(14,973.7)<span></span>
</td>
<td class="num">(13,075.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation</a></td>
<td class="num">(2,245.5)<span></span>
</td>
<td class="num">(2,117.6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment', window );">Impairment losses</a></td>
<td class="num">(125.0)<span></span>
</td>
<td class="num">(120.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="num">(13,075.3)<span></span>
</td>
<td class="num">(13,075.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangePropertyPlantAndEquipment', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">241.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Fixtures and fittings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="num">(2,912.1)<span></span>
</td>
<td class="num">(2,738.9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Effect of movements in foreign exchange</a></td>
<td class="nump">0.3<span></span>
</td>
<td class="nump">236.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals</a></td>
<td class="nump">109.5<span></span>
</td>
<td class="nump">187.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer to other asset categories</a></td>
<td class="nump">5.2<span></span>
</td>
<td class="nump">39.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment', window );">Others</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="num">(3,453.2)<span></span>
</td>
<td class="num">(2,912.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation</a></td>
<td class="num">(655.9)<span></span>
</td>
<td class="num">(688.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment', window );">Impairment losses</a></td>
<td class="num">(0.2)<span></span>
</td>
<td class="num">(0.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="num">(2,912.1)<span></span>
</td>
<td class="num">(2,912.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangePropertyPlantAndEquipment', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">51.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Construction in progress [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment', window );">Effect of movements in foreign exchange</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsPropertyPlantAndEquipment', window );">Disposals</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment', window );">Transfer to other asset categories</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment', window );">Others</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DepreciationPropertyPlantAndEquipment', window );">Depreciation</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment', window );">Impairment losses</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PropertyPlantAndEquipment', window );">Property, plant and equipment, balance</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangePropertyPlantAndEquipment', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AcquisitionsThroughStockExchangePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in property, plant and equipment resulting from acquisitions through stock exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AcquisitionsThroughStockExchangePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DisposalsThroughStockExchangePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in property, plant and equipment resulting from acquisitions through stock exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DisposalsThroughStockExchangePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in property, plant and equipment resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to property, plant and equipment other than those acquired through business combinations. [Refer: Business combinations [member]; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DepreciationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of depreciation of property, plant and equipment. [Refer: Depreciation and amortisation expense; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e_vii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 75<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_75_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DepreciationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisposalsPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in property, plant and equipment resulting from disposals. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisposalsPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for property, plant and equipment. [Refer: Impairment loss recognised in profit or loss; Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e_v&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 98<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_98_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in property, plant and equipment resulting from net exchange differences arising on the translation of the financial statements from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e_viii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in property, plant and equipment resulting from changes that the entity does not separately disclose in the same statement or note. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -Clause ix<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e_ix&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughOtherChangesPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in property, plant and equipment resulting from transfers. [Refer: Property, plant and equipment]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransfersPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tangible assets that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and (b) are expected to be used during more than one period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 16<br> -IssueDate 2017-01-01<br> -Paragraph 73<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=16&amp;date=2017-03-01&amp;anchor=para_73_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandAndBuildingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_LandAndBuildingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_PlantAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=abev_PlantAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_FixturesAndFittingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_FixturesAndFittingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ConstructionInProgressMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis=ifrs-full_ConstructionInProgressMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>109
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801983888">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 14 - Goodwill (Details Textual)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GoodwillPercentageOfTotalAssets', window );">Goodwill percentage of total assets</a></td>
<td class="nump">36.00%<span></span>
</td>
<td class="nump">36.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CostToSellRate', window );">Cost to sell rate</a></td>
<td class="nump">1.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CostToSellRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage amount of the entity value for cost to sell.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CostToSellRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_GoodwillPercentageOfTotalAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of total assets that make up goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_GoodwillPercentageOfTotalAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</td>
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<tr>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>110
<FILENAME>R94.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6818741840">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 14 - Goodwill - Changes in the Period (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 30,511.2<span></span>
</td>
<td class="nump">R$ 30,953.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill', window );">Effect of movements in foreign exchange</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">489.7<span></span>
</td>
<td class="num">(2,388.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalRecognitionGoodwill', window );">Acquisition and disposal through business combinations (i)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">401.0<span></span>
</td>
<td class="nump">1,947.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 31,401.9<span></span>
</td>
<td class="nump">R$ 30,511.2<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">In 2017 it refers mainly to the goodwill allocation of acquisition of Cachoeiras de Macacu, and in 2016 refers to the acquisition of Mark Anthony and Cerveceria Nacional in the transaction of exchange of shareholdings.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionalRecognitionGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additional goodwill recognised, except goodwill included in a disposal group that, on acquisition, meets the criteria to be classified as held for sale in accordance with IFRS 5. [Refer: Goodwill; Disposal groups classified as held for sale [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B67_d_ii&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionalRecognitionGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 134<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_134_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 135<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_135_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Goodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in goodwill resulting from net exchange differences arising on the translation of the financial statements from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B67_d_vi&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
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<SEQUENCE>111
<FILENAME>R95.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6808241840">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Note 14 - Goodwill - Carrying Amount of Goodwill Allocated to the Different Cash-Generating Units (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 31,401.9<span></span>
</td>
<td class="nump">R$ 30,511.2<span></span>
</td>
<td class="nump">R$ 30,953.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_NorthLatinAmericaSegmentBrazilCashGeneratingUnitMember', window );">North Latin America segment - Brazil, cash-generating unit [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17,668.4<span></span>
</td>
<td class="nump">17,424.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GoodwillGross', window );">Goodwill, gross</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">102,911.0<span></span>
</td>
<td class="nump">102,667.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NoncontrollingTransactionsGoodwill', window );">Goodwill, non-controlling transactions</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(85,242.6)<span></span>
</td>
<td class="num">(85,242.6)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_NorthLatinAmericaSegmentDominicanRepublicCashgeneratingUnitMember', window );">North Latin America segment - Dominican Republic, cash-generating unit [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,163.6<span></span>
</td>
<td class="nump">3,224.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_NorthLatinAmericaSegmentCubaCashGeneratingUnitMember', window );">North Latin America segment - Cuba, cash-generating unit [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">2.7<span></span>
</td>
<td class="nump">3.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_NorthLatinAmericaSegmentPanamaCashgeneratingUnitMember', window );">North Latin America segment - Panama, cash-generating unit [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,149.3<span></span>
</td>
<td class="nump">1,060.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_SouthLatinAmericaSegmentArgentinaCashgeneratingUnitMember', window );">South Latin America segment - Argentina, cash-generating unit [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">443.9<span></span>
</td>
<td class="nump">518.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_SouthLatinAmericaSegmentBoliviaCashgeneratingUnitMember', window );">South Latin America segment - Bolivia, cash-generating unit [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,170.1<span></span>
</td>
<td class="nump">1,152.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_SouthLatinAmericaSegmentChileCashgeneratingUnitMember', window );">South Latin America segment - Chile, cash-generating unit [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">47.0<span></span>
</td>
<td class="nump">42.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_SouthLatinAmericaSegmentParaguayCashgeneratingUnitMember', window );">South Latin America segment - Paraguay, cash-generating unit [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">786.1<span></span>
</td>
<td class="nump">753.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_SouthLatinAmericaSegmentUruguayCashgeneratingUnitMember', window );">South Latin America segment - Uruguay, cash-generating unit [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">170.7<span></span>
</td>
<td class="nump">165.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_CashgeneratingUnitInCanadaMember', window );">Cash-generating unit in Canada [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Goodwill', window );">Goodwill</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 6,800.1<span></span>
</td>
<td class="nump">R$ 6,165.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">It refers to the exchange of shareholdings operation occurred in 2013 as a result of the adoption of the predecessor basis of accounting.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">The functional currency of Cuba, the Cuban convertible peso (CUC), has a fixed parity with the dollar (USD) at balance sheet date.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_GoodwillGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of goodwill before noncontrolling transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_GoodwillGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NoncontrollingTransactionsGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The accumulated noncontrolling transactions that affect goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NoncontrollingTransactionsGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Goodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognised. [Refer: Business combinations [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 3<br> -IssueDate 2017-01-01<br> -Paragraph B67<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=3&amp;date=2017-03-01&amp;anchor=para_B67_d&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 134<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_134_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 135<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_135_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Goodwill</td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_NorthLatinAmericaSegmentBrazilCashGeneratingUnitMember</td>
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<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_NorthLatinAmericaSegmentDominicanRepublicCashgeneratingUnitMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_NorthLatinAmericaSegmentCubaCashGeneratingUnitMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_NorthLatinAmericaSegmentPanamaCashgeneratingUnitMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_SouthLatinAmericaSegmentArgentinaCashgeneratingUnitMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_SouthLatinAmericaSegmentBoliviaCashgeneratingUnitMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_SouthLatinAmericaSegmentChileCashgeneratingUnitMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_SouthLatinAmericaSegmentParaguayCashgeneratingUnitMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_SouthLatinAmericaSegmentUruguayCashgeneratingUnitMember</td>
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<tr>
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<td></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis=abev_CashgeneratingUnitInCanadaMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802317984">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 14 - Goodwill - Weighted Average Cost of Capital (Details) - Goodwill [member] - North Latin America segment [member]<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
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<td class="nump">8.59%<span></span>
</td>
<td class="nump">8.39%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageCostOfCapitalSignificantUnobservableInputsAssets', window );">weighted average cost of capital, goodwill</a></td>
<td class="nump">10.29%<span></span>
</td>
<td class="nump">10.27%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average cost of capital used as a significant Level 3 unobservable input for assets. [Refer: Level 3 of fair value hierarchy [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph IE63<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_IE63&amp;doctype=Illustrative%20Examples<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageCostOfCapitalSignificantUnobservableInputsAssets</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_GoodwillMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=abev_NorthLatinAmericaSegmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=abev_NorthLatinAmericaSegmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>113
<FILENAME>R97.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6800769600">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 15 - Intangible (Details Textual)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity', window );">Amortisation period of intangible assets material to entity</a></td>
<td class="text">5 years<span></span>
</td>
<td class="text">5 years<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AmortisationPercentage', window );">Amortisation percentage</a></td>
<td class="nump">20.00%<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AmortisationPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The rate at which amortisation occurs for intangible assets per year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AmortisationPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amortisation period of individual intangible assets that are material to the entity&#8217;s financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AmortisationPeriodOfIntangibleAssetsMaterialToEntity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>114
<FILENAME>R98.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6805522416">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 15 - Intangible - Reconciliation of Changes in Intangible Assets (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 5,245.9<span></span>
</td>
<td class="nump">R$ 5,092.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,674.7<span></span>
</td>
<td class="nump">5,245.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,674.7<span></span>
</td>
<td class="nump">5,245.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_BrandNamesMember', window );">Brand names [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,158.9<span></span>
</td>
<td class="nump">3,906.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,512.8<span></span>
</td>
<td class="nump">4,158.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,158.9<span></span>
</td>
<td class="nump">4,158.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=abev_DistributionContractsMember', window );">Distribution contracts [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">558.6<span></span>
</td>
<td class="nump">765.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">438.7<span></span>
</td>
<td class="nump">558.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">558.6<span></span>
</td>
<td class="nump">558.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_ComputerSoftwareMember', window );">Computer software [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">291.5<span></span>
</td>
<td class="nump">248.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">432.8<span></span>
</td>
<td class="nump">291.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">291.5<span></span>
</td>
<td class="nump">291.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_OtherIntangibleAssetsMember', window );">Other intangible assets [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">236.9<span></span>
</td>
<td class="nump">172.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">290.4<span></span>
</td>
<td class="nump">236.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">236.9<span></span>
</td>
<td class="nump">236.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,829.4<span></span>
</td>
<td class="nump">7,440.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of movements in foreign exchange</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(16.3)<span></span>
</td>
<td class="num">(858.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Acquisitions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">30.5<span></span>
</td>
<td class="nump">26.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Acquisitions through business combination</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(4.0)<span></span>
</td>
<td class="nump">1,073.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwill', window );">Transfers to other assets categories</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(352.3)<span></span>
</td>
<td class="num">(206.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesIntangibleAssetsOtherThanGoodwill', window );">Others</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">46.0<span></span>
</td>
<td class="nump">172.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,533.3<span></span>
</td>
<td class="nump">7,829.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7,829.4<span></span>
</td>
<td class="nump">7,829.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposal</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AcquisitionsThroughStockExchangeIntangibleAssetsOtherThanGoodwill', window );">Acquisitions through exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">248.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(67.5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Foreing exchange effects</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(16.3)<span></span>
</td>
<td class="num">(858.1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Brand names [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,160.8<span></span>
</td>
<td class="nump">3,908.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of movements in foreign exchange</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(10.5)<span></span>
</td>
<td class="num">(645.9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Acquisitions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">18.8<span></span>
</td>
<td class="nump">3.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Acquisitions through business combination</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(4.0)<span></span>
</td>
<td class="nump">1,043.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwill', window );">Transfers to other assets categories</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(650.4)<span></span>
</td>
<td class="num">(317.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesIntangibleAssetsOtherThanGoodwill', window );">Others</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,514.7<span></span>
</td>
<td class="nump">4,160.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,160.8<span></span>
</td>
<td class="nump">4,160.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposal</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AcquisitionsThroughStockExchangeIntangibleAssetsOtherThanGoodwill', window );">Acquisitions through exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">228.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(58.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Foreing exchange effects</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(10.5)<span></span>
</td>
<td class="num">(645.9)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Distribution contracts [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,319.4<span></span>
</td>
<td class="nump">2,387.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of movements in foreign exchange</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7.5<span></span>
</td>
<td class="num">(68.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Acquisitions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Acquisitions through business combination</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwill', window );">Transfers to other assets categories</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6.4<span></span>
</td>
<td class="nump">0.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesIntangibleAssetsOtherThanGoodwill', window );">Others</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,333.3<span></span>
</td>
<td class="nump">2,319.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2,319.4<span></span>
</td>
<td class="nump">2,319.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposal</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AcquisitionsThroughStockExchangeIntangibleAssetsOtherThanGoodwill', window );">Acquisitions through exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Foreing exchange effects</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">7.5<span></span>
</td>
<td class="num">(68.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Computer software [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">888.5<span></span>
</td>
<td class="nump">788.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of movements in foreign exchange</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(12.1)<span></span>
</td>
<td class="num">(50.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Acquisitions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">2.9<span></span>
</td>
<td class="nump">4.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Acquisitions through business combination</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwill', window );">Transfers to other assets categories</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">265.3<span></span>
</td>
<td class="nump">135.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesIntangibleAssetsOtherThanGoodwill', window );">Others</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,144.6<span></span>
</td>
<td class="nump">888.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">888.5<span></span>
</td>
<td class="nump">888.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposal</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AcquisitionsThroughStockExchangeIntangibleAssetsOtherThanGoodwill', window );">Acquisitions through exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Foreing exchange effects</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(12.1)<span></span>
</td>
<td class="num">(50.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember', window );">Gross carrying amount [member] | Other intangible assets [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">460.7<span></span>
</td>
<td class="nump">356.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of movements in foreign exchange</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1.2)<span></span>
</td>
<td class="num">(93.6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Acquisitions</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8.8<span></span>
</td>
<td class="nump">19.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill', window );">Acquisitions through business combination</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">30.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwill', window );">Transfers to other assets categories</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">26.4<span></span>
</td>
<td class="num">(24.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesIntangibleAssetsOtherThanGoodwill', window );">Others</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">46.0<span></span>
</td>
<td class="nump">172.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">540.7<span></span>
</td>
<td class="nump">460.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">460.7<span></span>
</td>
<td class="nump">460.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposal</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AcquisitionsThroughStockExchangeIntangibleAssetsOtherThanGoodwill', window );">Acquisitions through exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Foreing exchange effects</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1.2)<span></span>
</td>
<td class="num">(93.6)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(2,583.5)<span></span>
</td>
<td class="num">(2,348.6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of movements in foreign exchange</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">15.5<span></span>
</td>
<td class="nump">79.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwill', window );">Transfers to other assets categories</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(0.1)<span></span>
</td>
<td class="nump">0.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(2,858.6)<span></span>
</td>
<td class="num">(2,583.5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(290.5)<span></span>
</td>
<td class="num">(323.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(2,583.5)<span></span>
</td>
<td class="num">(2,583.5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposal</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Foreing exchange effects</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">15.5<span></span>
</td>
<td class="nump">79.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Brand names [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(1.9)<span></span>
</td>
<td class="num">(1.9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of movements in foreign exchange</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwill', window );">Transfers to other assets categories</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(1.9)<span></span>
</td>
<td class="num">(1.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(1.9)<span></span>
</td>
<td class="num">(1.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposal</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Foreing exchange effects</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Distribution contracts [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(1,760.8)<span></span>
</td>
<td class="num">(1,622.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of movements in foreign exchange</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">4.9<span></span>
</td>
<td class="nump">9.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwill', window );">Transfers to other assets categories</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">0.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(1,894.6)<span></span>
</td>
<td class="num">(1,760.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(138.7)<span></span>
</td>
<td class="num">(148.6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(1,760.8)<span></span>
</td>
<td class="num">(1,760.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposal</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Foreing exchange effects</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">4.9<span></span>
</td>
<td class="nump">9.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Computer software [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(597.0)<span></span>
</td>
<td class="num">(539.7)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of movements in foreign exchange</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5.5<span></span>
</td>
<td class="nump">29.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwill', window );">Transfers to other assets categories</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(1.4)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(711.8)<span></span>
</td>
<td class="num">(597.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(118.9)<span></span>
</td>
<td class="num">(94.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(597.0)<span></span>
</td>
<td class="num">(597.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposal</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Foreing exchange effects</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5.5<span></span>
</td>
<td class="nump">29.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember', window );">Accumulated depreciation, amortisation and impairment [member] | Other intangible assets [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(223.8)<span></span>
</td>
<td class="num">(184.8)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Effect of movements in foreign exchange</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5.1<span></span>
</td>
<td class="nump">40.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwill', window );">Transfers to other assets categories</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1.3<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible assets, balance</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(250.3)<span></span>
</td>
<td class="num">(223.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill', window );">Amortization</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(32.9)<span></span>
</td>
<td class="num">(80.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsOtherThanGoodwill', window );">Intangible</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(223.8)<span></span>
</td>
<td class="num">(223.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill', window );">Disposal</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill', window );">Disposals through exchange transaction of shareholdings</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill', window );">Foreing exchange effects</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 5.1<span></span>
</td>
<td class="nump">R$ 40.9<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">The period of amortization of intangible assets of definite useful life is five years and amortization is calculated at the rate of 20% and recognized in income on a straight-line method.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AcquisitionsThroughStockExchangeIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in intangible assets other than goodwill resulting from acquisitions through stock exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AcquisitionsThroughStockExchangeIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in intangible assets other than goodwill resulting from acquisitions through stock exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DisposalsThroughStockExchangeIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in intangible assets other than goodwill resulting from acquisitions through business combinations. [Refer: Business combinations [member]; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_118_e_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additions to intangible assets other than goodwill, other than those acquired through business combinations. [Refer: Business combinations [member]; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_118_e_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of amortisation of intangible assets other than goodwill. [Refer: Depreciation and amortisation expense; Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_118_e_vi&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease in intangible assets other than goodwill resulting from disposals. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_118_e_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisposalsIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in intangible assets other than goodwill resulting from net exchange differences arising on the translation of the financial statements from the functional currency into a different presentation currency, including the translation of a foreign operation into the presentation currency of the reporting entity. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_118_e_vii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughOtherChangesIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in intangible assets other than goodwill resulting from changes that the entity does not separately disclose in the same statement or note. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -Clause viii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_118_e_viii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughOtherChangesIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in intangible assets other than goodwill resulting from transfers. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsOtherThanGoodwill">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of identifiable non-monetary assets without physical substance. This amount does not include goodwill. [Refer: Goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 118<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_118_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsOtherThanGoodwill</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_BrandNamesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_BrandNamesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=abev_DistributionContractsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_ComputerSoftwareMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_ComputerSoftwareMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfIntangibleAssetsAndGoodwillAxis=ifrs-full_OtherIntangibleAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_GrossCarryingAmountMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis=ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember</td>
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<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
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<td></td>
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<td></td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6809414416">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 15 - Intangible - Intangible Assets by Location (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLife', window );">Intangible assets with indefinite useful life</a></td>
<td class="nump">R$ 3,512.8<span></span>
</td>
<td class="nump">R$ 4,158.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInArgentinaMember', window );">Intangible assets in Argentina [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLife', window );">Intangible assets with indefinite useful life</a></td>
<td class="nump">348.8<span></span>
</td>
<td class="nump">373.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInBoliviaMember', window );">Intangible assets in Bolivia [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLife', window );">Intangible assets with indefinite useful life</a></td>
<td class="nump">567.1<span></span>
</td>
<td class="nump">558.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInBrazilMember', window );">Intangible assets in Brazil [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLife', window );">Intangible assets with indefinite useful life</a></td>
<td class="nump">4.6<span></span>
</td>
<td class="nump">575.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInCanadaMember', window );">Intangible assets in Canada [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLife', window );">Intangible assets with indefinite useful life</a></td>
<td class="nump">223.9<span></span>
</td>
<td class="nump">205.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInChileMember', window );">Intangible assets in Chile [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLife', window );">Intangible assets with indefinite useful life</a></td>
<td class="nump">69.5<span></span>
</td>
<td class="nump">63.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInLuxembourgMember', window );">Intangible assets in Luxembourg [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLife', window );">Intangible assets with indefinite useful life</a></td>
<td class="nump">339.6<span></span>
</td>
<td class="nump">419.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInParaguayMember', window );">Intangible assets in Paraguay [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLife', window );">Intangible assets with indefinite useful life</a></td>
<td class="nump">447.5<span></span>
</td>
<td class="nump">429.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInTheDominicanRepublicMember', window );">Intangible assets in the Dominican Republic [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLife', window );">Intangible assets with indefinite useful life</a></td>
<td class="nump">1,396.6<span></span>
</td>
<td class="nump">1,422.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInUruaguayMember', window );">Intangible assets in Uruaguay [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLife', window );">Intangible assets with indefinite useful life</a></td>
<td class="nump">R$ 115.2<span></span>
</td>
<td class="nump">R$ 111.6<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLife">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of intangible assets assessed as having an indefinite useful life. [Refer: Intangible assets other than goodwill]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 38<br> -IssueDate 2017-01-01<br> -Paragraph 122<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=38&amp;date=2017-03-01&amp;anchor=para_122_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 134<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_134_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 36<br> -IssueDate 2017-01-01<br> -Paragraph 135<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=36&amp;date=2017-03-01&amp;anchor=para_135_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLife</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInArgentinaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInBoliviaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInBrazilMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInCanadaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInChileMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInLuxembourgMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInLuxembourgMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInParaguayMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInTheDominicanRepublicMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IntangibleAssetsWithIndefiniteUsefulLifeAxis=abev_IntangibleAssetsInUruaguayMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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</html>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>116
<FILENAME>R100.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802281648">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Note 16 - Investment Securities - Portions of Investment Securities (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DebtInstrumentsHeld', window );">Debt held-to-maturity (i)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 122.0<span></span>
</td>
<td class="nump">R$ 104.3<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentHeldtomaturityInvestments', window );">Non-current investments securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">122.0<span></span>
</td>
<td class="nump">104.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentFinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading', window );">Financial asset at fair value through profit or loss-held for trading</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11.9<span></span>
</td>
<td class="nump">282.8<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentInvestments', window );">Current investments securities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11.9<span></span>
</td>
<td class="nump">282.8<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_InvestmentSecurities', window );">Total</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 133.9<span></span>
</td>
<td class="nump">R$ 387.1<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">The balance refers substantially to Bank Deposit Certificates - CDB linked to tax incentives.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_InvestmentSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount of investment securities outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_InvestmentSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentFinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current financial assets measured at fair value through profit or loss classified as held for trading. [Refer: Financial assets at fair value through profit or loss, classified as held for trading]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_a&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentFinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DebtInstrumentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of instruments representing indebtedness held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DebtInstrumentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentHeldtomaturityInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current held-to-maturity investments. [Refer: Held-to-maturity investments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_8_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentHeldtomaturityInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>117
<FILENAME>R101.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6803232160">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 17 - Deferred Income Tax and Social Contribution (Details Textual) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="nump">29.22%<span></span>
</td>
<td class="nump">30.16%<span></span>
</td>
<td class="nump">31.59%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_UnrecognisedTaxLossesAndTemporaryDifferences', window );">Unrecognised tax losses and temporary differences</a></td>
<td class="nump">R$ 427.4<span></span>
</td>
<td class="nump">R$ 455.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxLossesWithoutLimitation', window );">Tax losses without limitation</a></td>
<td class="nump">R$ 1,709.5<span></span>
</td>
<td class="nump">R$ 2,285.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_BR', window );">BRAZIL</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NominalSocialContributionRate', window );">Nominal social contribution rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_AR', window );">ARGENTINA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ApplicableTaxRate', window );">Applicable tax rate</a></td>
<td class="nump">35.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ApplicableTaxRateFirstTwoYearsAfterLegislationChanges', window );">Applicable tax rate, first two years after legislation changes</a></td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ApplicableTaxRateLaterThanTwoYearsAfterLegislationChanges', window );">Applicable tax rate, later than two years after legislation changes</a></td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes', window );">Deferred tax expense (income) relating to tax rate changes or imposition of new taxes</a></td>
<td class="num">R$ (33.0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ApplicableTaxRateFirstTwoYearsAfterLegislationChanges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The applicable income tax rate for the first two years after legislation changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ApplicableTaxRateFirstTwoYearsAfterLegislationChanges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<tr>
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<tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ApplicableTaxRateLaterThanTwoYearsAfterLegislationChanges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The applicable income tax rate incorporated later than two years after legislation changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ApplicableTaxRateLaterThanTwoYearsAfterLegislationChanges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NominalSocialContributionRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The applicable tax rate for social contributions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NominalSocialContributionRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TaxLossesWithoutLimitation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of unused tax losses for which no deferred tax asset is recognised and have no carryforward limit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TaxLossesWithoutLimitation</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_UnrecognisedTaxLossesAndTemporaryDifferences">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of unused tax losses for which no deferred tax asset is recognised in the statement of financial position and the amount of deductible temporary differences for which no deferred tax asset is recognised in the statement of financial position..</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_UnrecognisedTaxLossesAndTemporaryDifferences</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The applicable income tax rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ApplicableTaxRate</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax expense or income relating to tax rate changes or the imposition of new taxes. [Refer: Deferred tax expense (income)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 80<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_80_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncomeRelatingToTaxRateChangesOrImpositionOfNewTaxes</td>
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<tr>
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<tr><td><div class="body" style="padding: 2px;">
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<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_BR</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_AR</td>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 17 - Deferred Income Tax and Social Contribution - Applied Rates (Details)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr><th class="th" colspan="2"><div>Dec. 31, 2017</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_CentralAmericaAndTheCaribbeanMember', window );">Central America and the Caribbean [member] | Bottom of range [member]</a></td>
<td class="text">&#160;<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxRateEffectOfTaxLossesAndSocialContributions', window );">Applied rates</a></td>
<td class="nump">23.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_CentralAmericaAndTheCaribbeanMember', window );">Central America and the Caribbean [member] | Top of range [member]</a></td>
<td class="text">&#160;<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxRateEffectOfTaxLossesAndSocialContributions', window );">Applied rates</a></td>
<td class="nump">31.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_LatinAmericaMember', window );">Latin America [member] | Bottom of range [member]</a></td>
<td class="text">&#160;<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxRateEffectOfTaxLossesAndSocialContributions', window );">Applied rates</a></td>
<td class="nump">14.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_LatinAmericaMember', window );">Latin America [member] | Top of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxRateEffectOfTaxLossesAndSocialContributions', window );">Applied rates</a></td>
<td class="nump">35.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=abev_CanadaMember', window );">Canada [member]</a></td>
<td class="text">&#160;<span></span>
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<td class="fn" style="border-bottom: 0px;"></td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxRateEffectOfTaxLossesAndSocialContributions', window );">Applied rates</a></td>
<td class="nump">26.00%<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
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<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Amendments to Argentine tax legislation approved on December 29, 2017 affect tax periods beginning in October 2018 and reduce the income tax rate in the first two years from 35% to 30% and, as a after, to 25%. For fiscal year 2017, however, there is an impact of R $ 33.0 million in deferred income tax.</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The tax rate effect on the reconciliation between the average effective tax rate and the applicable tax rate resulting from tax losses and social contributions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=abev_CanadaMember">
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<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=abev_CanadaMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>119
<FILENAME>R103.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6807831584">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 17 - Deferred Income Tax and Social Contribution - Deferred Income Tax and Social Contribution by Type of Temporary Difference (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Gross deferred tax assets</a></td>
<td class="nump">R$ 3,208.6<span></span>
</td>
<td class="nump">R$ 3,409.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Gross deferred tax liabilities</a></td>
<td class="num">(3,258.5)<span></span>
</td>
<td class="num">(3,471.1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(49.9)<span></span>
</td>
<td class="num">(61.5)<span></span>
</td>
<td class="nump">R$ 276.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Netting by taxable entity, deferred tax assets</a></td>
<td class="num">(929.3)<span></span>
</td>
<td class="num">(1,141.4)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss', window );">Netting by taxable entity, deferred tax liabilities</a></td>
<td class="nump">929.3<span></span>
</td>
<td class="nump">1,141.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDeferredTaxAssets', window );">Net deferred tax assets</a></td>
<td class="nump">2,279.3<span></span>
</td>
<td class="nump">2,268.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDeferredTaxLiabilities', window );">Net deferred tax liabilities</a></td>
<td class="num">(2,329.2)<span></span>
</td>
<td class="num">(2,329.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentSecuritiesMember', window );">Temporary differences, investment securities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Gross deferred tax assets</a></td>
<td class="nump">39.0<span></span>
</td>
<td class="nump">9.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Gross deferred tax liabilities</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">39.0<span></span>
</td>
<td class="nump">9.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesIntangibleAssetsMember', window );">Temporary differences, intangible assets [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Gross deferred tax assets</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">0.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Gross deferred tax liabilities</a></td>
<td class="num">(719.5)<span></span>
</td>
<td class="num">(733.9)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(719.5)<span></span>
</td>
<td class="num">(733.2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesEmployeeBenefitsMember', window );">Temporary differences, employee benefits [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Gross deferred tax assets</a></td>
<td class="nump">631.1<span></span>
</td>
<td class="nump">467.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Gross deferred tax liabilities</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">631.1<span></span>
</td>
<td class="nump">467.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradePayablesMember', window );">Temporary differences, trade payables [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Gross deferred tax assets</a></td>
<td class="nump">1,382.4<span></span>
</td>
<td class="nump">977.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Gross deferred tax liabilities</a></td>
<td class="num">(314.2)<span></span>
</td>
<td class="num">(531.3)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">1,068.2<span></span>
</td>
<td class="nump">446.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradeReceivableMember', window );">Temporary differences, trade receivable [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Gross deferred tax assets</a></td>
<td class="nump">52.3<span></span>
</td>
<td class="nump">42.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Gross deferred tax liabilities</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">52.3<span></span>
</td>
<td class="nump">42.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesDerivativesMember', window );">Temporary differences, derivatives [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Gross deferred tax assets</a></td>
<td class="nump">6.8<span></span>
</td>
<td class="nump">71.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Gross deferred tax liabilities</a></td>
<td class="num">(5.8)<span></span>
</td>
<td class="num">(110.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">1.0<span></span>
</td>
<td class="num">(39.6)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInventoriesMember', window );">Temporary differences, inventories [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Gross deferred tax assets</a></td>
<td class="nump">248.7<span></span>
</td>
<td class="nump">267.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Gross deferred tax liabilities</a></td>
<td class="num">(18.1)<span></span>
</td>
<td class="num">(13.8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">230.6<span></span>
</td>
<td class="nump">253.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesPropertyPlantAndEquipmentMember', window );">Temporary differences, property, plant and equipment [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Gross deferred tax assets</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Gross deferred tax liabilities</a></td>
<td class="num">(920.5)<span></span>
</td>
<td class="num">(905.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(920.5)<span></span>
</td>
<td class="num">(905.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember', window );">Temporary differences, withholding tax over undistributed profits and royalties [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Gross deferred tax assets</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Gross deferred tax liabilities</a></td>
<td class="num">(788.6)<span></span>
</td>
<td class="num">(684.8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(788.6)<span></span>
</td>
<td class="num">(684.8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentsInAssociatesMember', window );">Temporary differences, investments in associates [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Gross deferred tax assets</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Gross deferred tax liabilities</a></td>
<td class="num">(421.6)<span></span>
</td>
<td class="num">(421.6)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(421.6)<span></span>
</td>
<td class="num">(421.6)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Unused tax losses [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Gross deferred tax assets</a></td>
<td class="nump">501.0<span></span>
</td>
<td class="nump">1,139.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Gross deferred tax liabilities</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">501.0<span></span>
</td>
<td class="nump">1,139.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesProvisionsMember', window );">Temporary differences, provisions [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Gross deferred tax assets</a></td>
<td class="nump">347.3<span></span>
</td>
<td class="nump">448.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Gross deferred tax liabilities</a></td>
<td class="num">(39.7)<span></span>
</td>
<td class="num">(44.6)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">307.6<span></span>
</td>
<td class="nump">404.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesOtherItemsMember', window );">Temporary differences, other items [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxAssets', window );">Gross deferred tax assets</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(15.1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilities', window );">Gross deferred tax liabilities</a></td>
<td class="num">(30.5)<span></span>
</td>
<td class="num">(24.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">R$ (30.5)<span></span>
</td>
<td class="num">R$ (39.8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes recoverable in future periods in respect of: (a) deductible temporary differences; (b) the carryforward of unused tax losses; and (c) the carryforward of unused tax credits. [Refer: Temporary differences [member]; Unused tax credits [member]; Unused tax losses [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense or income relating to changes in deferred tax liabilities and deferred tax assets, recognised in profit or loss. [Refer: Deferred tax assets; Deferred tax expense (income); Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amounts of income taxes payable in future periods in respect of taxable temporary differences. [Refer: Temporary differences [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph o<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_o&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 56<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_56&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities or assets. [Refer: Deferred tax liabilities; Deferred tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDeferredTaxAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax assets net of deferred tax liabilities, when the absolute amount of deferred tax assets is greater than the absolute amount of deferred tax liabilities. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDeferredTaxAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDeferredTaxLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities net of deferred tax assets, when the absolute amount of deferred tax liabilities is greater than the absolute amount of deferred tax assets. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDeferredTaxLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentSecuritiesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesIntangibleAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesIntangibleAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesEmployeeBenefitsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradePayablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradePayablesMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradeReceivableMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradeReceivableMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesDerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesDerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInventoriesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInventoriesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesPropertyPlantAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesPropertyPlantAndEquipmentMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentsInAssociatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentsInAssociatesMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember</td>
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<tr>
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<td><strong> Data Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesProvisionsMember</td>
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<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesOtherItemsMember</td>
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 17 - Deferred Income Tax and Social Contribution - Deferred Taxes Not Related to Tax Losses (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="num">R$ (49.9)<span></span>
</td>
<td class="num">R$ (61.5)<span></span>
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<td class="nump">R$ 276.3<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentSecuritiesMember', window );">Temporary differences, investment securities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">39.0<span></span>
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<td class="nump">9.0<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentSecuritiesMember', window );">Temporary differences, investment securities [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentSecuritiesMember', window );">Temporary differences, investment securities [member] | Later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">39.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesIntangibleAssetsMember', window );">Temporary differences, intangible assets [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(719.5)<span></span>
</td>
<td class="num">(733.2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesIntangibleAssetsMember', window );">Temporary differences, intangible assets [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesIntangibleAssetsMember', window );">Temporary differences, intangible assets [member] | Later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(719.5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesEmployeeBenefitsMember', window );">Temporary differences, employee benefits [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">631.1<span></span>
</td>
<td class="nump">467.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesEmployeeBenefitsMember', window );">Temporary differences, employee benefits [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">112.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesEmployeeBenefitsMember', window );">Temporary differences, employee benefits [member] | Later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">518.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradePayablesMember', window );">Temporary differences, trade payables [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">1,068.2<span></span>
</td>
<td class="nump">446.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradePayablesMember', window );">Temporary differences, trade payables [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">1,382.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradePayablesMember', window );">Temporary differences, trade payables [member] | Later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(314.2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradeReceivableMember', window );">Temporary differences, trade receivable [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">52.3<span></span>
</td>
<td class="nump">42.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradeReceivableMember', window );">Temporary differences, trade receivable [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">47.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradeReceivableMember', window );">Temporary differences, trade receivable [member] | Later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">5.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesDerivativesMember', window );">Temporary differences, derivatives [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">1.0<span></span>
</td>
<td class="num">(39.6)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesDerivativesMember', window );">Temporary differences, derivatives [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">1.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesDerivativesMember', window );">Temporary differences, derivatives [member] | Later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInventoriesMember', window );">Temporary differences, inventories [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">230.6<span></span>
</td>
<td class="nump">253.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInventoriesMember', window );">Temporary differences, inventories [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">230.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInventoriesMember', window );">Temporary differences, inventories [member] | Later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesPropertyPlantAndEquipmentMember', window );">Temporary differences, property, plant and equipment [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(920.5)<span></span>
</td>
<td class="num">(905.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesPropertyPlantAndEquipmentMember', window );">Temporary differences, property, plant and equipment [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(58.1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesPropertyPlantAndEquipmentMember', window );">Temporary differences, property, plant and equipment [member] | Later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(862.4)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember', window );">Temporary differences, withholding tax over undistributed profits and royalties [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(788.6)<span></span>
</td>
<td class="num">(684.8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember', window );">Temporary differences, withholding tax over undistributed profits and royalties [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember', window );">Temporary differences, withholding tax over undistributed profits and royalties [member] | Later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(788.6)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentsInAssociatesMember', window );">Temporary differences, investments in associates [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(421.6)<span></span>
</td>
<td class="num">(421.6)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentsInAssociatesMember', window );">Temporary differences, investments in associates [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentsInAssociatesMember', window );">Temporary differences, investments in associates [member] | Later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(421.6)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesProvisionsMember', window );">Temporary differences, provisions [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">307.6<span></span>
</td>
<td class="nump">404.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesProvisionsMember', window );">Temporary differences, provisions [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">91.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesProvisionsMember', window );">Temporary differences, provisions [member] | Later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">215.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesOtherItemsMember', window );">Temporary differences, other items [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(30.5)<span></span>
</td>
<td class="num">R$ (39.8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesOtherItemsMember', window );">Temporary differences, other items [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesOtherItemsMember', window );">Temporary differences, other items [member] | Later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(30.5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_DeferredTaxesNotRelatedToTaxLossesMember', window );">Deferred taxes not related to tax losses [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">(550.9)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_DeferredTaxesNotRelatedToTaxLossesMember', window );">Deferred taxes not related to tax losses [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="nump">1,807.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_DeferredTaxesNotRelatedToTaxLossesMember', window );">Deferred taxes not related to tax losses [member] | Later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Net deferred tax assets / (liabilities)</a></td>
<td class="num">R$ (2,358.6)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities or assets. [Refer: Deferred tax liabilities; Deferred tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesIntangibleAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesIntangibleAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesEmployeeBenefitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesEmployeeBenefitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradePayablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradePayablesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradeReceivableMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesTradeReceivableMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesDerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesDerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInventoriesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInventoriesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesPropertyPlantAndEquipmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesPropertyPlantAndEquipmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesWithholdingTaxOverUndistributedProfitsAndRoyaltiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentsInAssociatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesInvestmentsInAssociatesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesProvisionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesProvisionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_TemporaryDifferencesOtherItemsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=abev_DeferredTaxesNotRelatedToTaxLossesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>121
<FILENAME>R105.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6810301776">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Note 17 - Deferred Income Tax and Social Contribution - Deferred Tax Related to Tax Losses (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Deferred Tax Related to Tax Losses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">R$ (49.9)<span></span>
</td>
<td class="num">R$ (61.5)<span></span>
</td>
<td class="nump">R$ 276.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Unused tax losses [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Deferred Tax Related to Tax Losses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">501.0<span></span>
</td>
<td class="nump">R$ 1,139.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Unused tax losses [member] | Not later than one year [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Deferred Tax Related to Tax Losses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">209.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Unused tax losses [member] | Later than one year and not later than two years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Deferred Tax Related to Tax Losses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">98.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Unused tax losses [member] | Later than three years and not later than four years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Deferred Tax Related to Tax Losses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Unused tax losses [member] | Later than four years and not later than five years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Deferred Tax Related to Tax Losses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember', window );">Unused tax losses [member] | Later than five years [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Deferred Tax Related to Tax Losses</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 167.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">There is no expectation of realization that exceeds the term of 10 years.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities or assets. [Refer: Deferred tax liabilities; Deferred tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis=ifrs-full_UnusedTaxLossesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6805548752">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 17 - Deferred Income Tax and Social Contribution - Net Change in Deferred Income Tax and Social Contribution (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Balance</a></td>
<td class="num">R$ (61.5)<span></span>
</td>
<td class="nump">R$ 276.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome', window );">Full recognition of actuarial gains/(losses)</a></td>
<td class="nump">40.2<span></span>
</td>
<td class="nump">57.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToHedgesOfInvestmentsInEquityInstrumentsOfOtherComprehensiveIncome', window );">Investment hedge</a></td>
<td class="num">(262.7)<span></span>
</td>
<td class="num">(12.0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncomeTaxRelatingToHedgesOfInvestmentsRegardingPutOptionsOfASubsidiaryInterestInEquityInstrumentsOfOtherComprehensiveIncome', window );">Investment hedge - put option of a subsidiary interest</a></td>
<td class="num">(31.8)<span></span>
</td>
<td class="num">(364.6)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome', window );">Cash flow hedge - gains/(losses)</a></td>
<td class="num">(269.2)<span></span>
</td>
<td class="nump">536.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome', window );">Gains/losses on translation of other foreign operations</a></td>
<td class="nump">136.1<span></span>
</td>
<td class="num">(578.2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome', window );">Recognized in other comprehensive income</a></td>
<td class="num">(387.4)<span></span>
</td>
<td class="num">(360.9)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxExpenseIncome', window );">Recognized in income statement</a></td>
<td class="nump">253.0<span></span>
</td>
<td class="nump">98.9<span></span>
</td>
<td class="num">R$ (2,406.4)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TotalChangesRelatedToDeferredIncomeTaxAndSocialContributionsAffectingTheBalanceSheet', window );">Changes directly in balance sheet</a></td>
<td class="nump">146.0<span></span>
</td>
<td class="num">(75.8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DirectChangesToDeferredTaxAndLiabilitiesInTheBalanceSheet', window );">Recognized in deferred tax</a></td>
<td class="nump">35.4<span></span>
</td>
<td class="num">(21.6)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AnticipatedFederalAmnesty', window );">Anticipation federal amnesty</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(54.2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ChangesRelatedToDeferredTaxRecognizedInOtherInTheBalanceSheet', window );">Recognized in other group of balance sheet</a></td>
<td class="nump">110.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DeferredTaxLiabilityAsset', window );">Balance</a></td>
<td class="num">R$ (49.9)<span></span>
</td>
<td class="num">R$ (61.5)<span></span>
</td>
<td class="nump">R$ 276.3<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AnticipatedFederalAmnesty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The anticipated federal amnesty to affect deferred (expense) income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AnticipatedFederalAmnesty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ChangesRelatedToDeferredTaxRecognizedInOtherInTheBalanceSheet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The changes related to the deferred tax recognized in the other group in the balance sheet.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ChangesRelatedToDeferredTaxRecognizedInOtherInTheBalanceSheet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DirectChangesToDeferredTaxAndLiabilitiesInTheBalanceSheet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The direct changes to the amounts in the deferred tax and liabilities in the balance sheet.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DirectChangesToDeferredTaxAndLiabilitiesInTheBalanceSheet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncomeTaxRelatingToHedgesOfInvestmentsRegardingPutOptionsOfASubsidiaryInterestInEquityInstrumentsOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to hedges of investments regarding put options of a subsidiary interest in equity instruments that the entity has designated at fair value through other comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncomeTaxRelatingToHedgesOfInvestmentsRegardingPutOptionsOfASubsidiaryInterestInEquityInstrumentsOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TotalChangesRelatedToDeferredIncomeTaxAndSocialContributionsAffectingTheBalanceSheet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total changes related to deferred income tax and social contributions affecting the balance sheet.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TotalChangesRelatedToDeferredIncomeTaxAndSocialContributionsAffectingTheBalanceSheet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxExpenseIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of tax expense (income) relating to changes in deferred tax liabilities and deferred tax assets. [Refer: Deferred tax assets; Deferred tax liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxExpenseIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DeferredTaxLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deferred tax liabilities or assets. [Refer: Deferred tax liabilities; Deferred tax assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph g<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_g_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DeferredTaxLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to cash flow hedges. [Refer: Cash flow hedges [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to changes in a revaluation surplus. [Refer: Revaluation surplus; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToChangesInRevaluationSurplusOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to exchange differences on the translation of financial statements of foreign operations. [Refer: Other comprehensive income; Reserve of exchange differences on translation]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncomeTaxRelatingToHedgesOfInvestmentsInEquityInstrumentsOfOtherComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax relating to amounts recognised in other comprehensive income in relation to hedges of investments in equity instruments that the entity has designated at fair value through other comprehensive income. [Refer: Other comprehensive income; Reserve of gains and losses on hedging instruments that hedge investments in equity instruments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IAS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 81<br> -Subparagraph ab<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_81_ab&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 90<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_90&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncomeTaxRelatingToHedgesOfInvestmentsInEquityInstrumentsOfOtherComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
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<SEQUENCE>123
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801785728">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 18 - Inventories (Details Textual) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WritedownsReversalsOfInventories', window );">Net write-downs (reversals of write-downs) of inventories</a></td>
<td class="nump">R$ 73.2<span></span>
</td>
<td class="nump">R$ 114.4<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WritedownsReversalsOfInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recognised resulting from the write-down of inventories to net realisable value or reversals of those write-downs. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 98<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_98_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WritedownsReversalsOfInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>124
<FILENAME>R108.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6831195440">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 18 - Inventories - Schedule of Inventory (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinishedGoods', window );">Finished goods</a></td>
<td class="nump">R$ 1,528.4<span></span>
</td>
<td class="nump">R$ 1,445.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WorkInProgress', window );">Work in progress</a></td>
<td class="nump">309.6<span></span>
</td>
<td class="nump">328.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RawMaterials', window );">Raw material</a></td>
<td class="nump">1,816.3<span></span>
</td>
<td class="nump">1,962.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentMaterialsAndSuppliesToBeConsumedInProductionProcessOrRenderingServices', window );">Consumables</a></td>
<td class="nump">77.3<span></span>
</td>
<td class="nump">50.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SpareParts', window );">Spare parts and other</a></td>
<td class="nump">476.9<span></span>
</td>
<td class="nump">447.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentPrepayments', window );">Prepayments</a></td>
<td class="nump">210.9<span></span>
</td>
<td class="nump">234.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_InventoriesImpairmentLosses', window );">Impairment losses</a></td>
<td class="num">(100.4)<span></span>
</td>
<td class="num">(121.3)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Inventories', window );"></a></td>
<td class="nump">R$ 4,319.0<span></span>
</td>
<td class="nump">R$ 4,347.1<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_InventoriesImpairmentLosses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment losses related to inventories.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_InventoriesImpairmentLosses</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentMaterialsAndSuppliesToBeConsumedInProductionProcessOrRenderingServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of current inventory representing the amount of materials and supplies to be consumed in a production process or while rendering services. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_37&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentMaterialsAndSuppliesToBeConsumedInProductionProcessOrRenderingServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentPrepayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current prepayments. [Refer: Prepayments]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentPrepayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinishedGoods">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of current inventory representing the amount of goods that have completed the production process and are held for sale in the ordinary course of business. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_37&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinishedGoods</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Inventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current inventories. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 36<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_36_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_g&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Inventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RawMaterials">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of current inventory representing the amount of assets to be consumed in the production process or in the rendering of services. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_37&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RawMaterials</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SpareParts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of current inventory representing the amount of interchangeable parts that are kept in an inventory and are used for the repair or replacement of failed parts. [Refer: Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_37&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SpareParts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WorkInProgress">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of current inventory representing the amount of assets currently in production, which require further processes to be converted into finished goods or services. [Refer: Current finished goods; Inventories]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 37<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_37&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WorkInProgress</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>125
<FILENAME>R109.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802157296">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 19 - Trade Receivables (Details Textual) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables', window );">Impairment loss recognised in profit or loss, trade receivables</a></td>
<td class="nump">R$ 83.1<span></span>
</td>
<td class="nump">R$ 82.1<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of impairment loss recognised in profit or loss for trade receivables. [Refer: Impairment loss recognised in profit or loss; Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ImpairmentLossRecognisedInProfitOrLossTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>126
<FILENAME>R110.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802088528">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 19 - Trade Receivables - Current Trade Receivables (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Trade receivables</a></td>
<td class="nump">R$ 5,335.7<span></span>
</td>
<td class="nump">R$ 4,774.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BadDebtProvisions', window );">Bad debt provision</a></td>
<td class="num">(521.5)<span></span>
</td>
<td class="num">(443.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CurrentTradeReceivablesNetOfBadDebtProvisions', window );">Net, trade receivables</a></td>
<td class="nump">4,814.2<span></span>
</td>
<td class="nump">4,330.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties', window );">Related parties</a></td>
<td class="nump">130.6<span></span>
</td>
<td class="nump">37.3<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentReceivables', window );">Total current trade receivables</a></td>
<td class="nump">R$ 4,944.8<span></span>
</td>
<td class="nump">R$ 4,368.1<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_BadDebtProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of bad debt provisions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_BadDebtProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CurrentTradeReceivablesNetOfBadDebtProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables, net of bad debt provisions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CurrentTradeReceivablesNetOfBadDebtProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables and current other receivables. [Refer: Current trade receivables; Other current receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current receivables due from related parties. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6807820832">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 19 - Trade Receivables - Aging of Our Current Trade Receivables (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Trade receivables</a></td>
<td class="nump">R$ 5,335.7<span></span>
</td>
<td class="nump">R$ 4,774.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BadDebtProvisions', window );">Bad debt provision</a></td>
<td class="num">(521.5)<span></span>
</td>
<td class="num">(443.7)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CurrentTradeReceivablesNetOfBadDebtProvisions', window );">Net, trade receivables</a></td>
<td class="nump">4,814.2<span></span>
</td>
<td class="nump">4,330.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=ifrs-full_CurrentMember', window );">Current [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Trade receivables</a></td>
<td class="nump">4,343.8<span></span>
</td>
<td class="nump">4,093.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BadDebtProvisions', window );">Bad debt provision</a></td>
<td class="num">(4.3)<span></span>
</td>
<td class="num">(6.9)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CurrentTradeReceivablesNetOfBadDebtProvisions', window );">Net, trade receivables</a></td>
<td class="nump">4,339.5<span></span>
</td>
<td class="nump">4,086.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=abev_LessThanOneMonthMember', window );">Less than one month [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Trade receivables</a></td>
<td class="nump">340.7<span></span>
</td>
<td class="nump">187.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BadDebtProvisions', window );">Bad debt provision</a></td>
<td class="num">(0.1)<span></span>
</td>
<td class="num">(1.9)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CurrentTradeReceivablesNetOfBadDebtProvisions', window );">Net, trade receivables</a></td>
<td class="nump">340.6<span></span>
</td>
<td class="nump">186.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=ifrs-full_LaterThanOneMonthAndNotLaterThanTwoMonthsMember', window );">Later than one month and not later than two months [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Trade receivables</a></td>
<td class="nump">32.3<span></span>
</td>
<td class="nump">28.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BadDebtProvisions', window );">Bad debt provision</a></td>
<td class="num">(0.4)<span></span>
</td>
<td class="num">(4.1)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CurrentTradeReceivablesNetOfBadDebtProvisions', window );">Net, trade receivables</a></td>
<td class="nump">31.9<span></span>
</td>
<td class="nump">24.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember', window );">Later than two months and not later than three months [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Trade receivables</a></td>
<td class="nump">63.3<span></span>
</td>
<td class="nump">43.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BadDebtProvisions', window );">Bad debt provision</a></td>
<td class="num">(0.8)<span></span>
</td>
<td class="num">(9.9)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CurrentTradeReceivablesNetOfBadDebtProvisions', window );">Net, trade receivables</a></td>
<td class="nump">62.5<span></span>
</td>
<td class="nump">33.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=abev_LaterThanThreeMonthsAndLessThanSixMonthsMember', window );">Later than three months and less than six months [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Trade receivables</a></td>
<td class="nump">85.6<span></span>
</td>
<td class="nump">30.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BadDebtProvisions', window );">Bad debt provision</a></td>
<td class="num">(45.9)<span></span>
</td>
<td class="num">(30.0)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CurrentTradeReceivablesNetOfBadDebtProvisions', window );">Net, trade receivables</a></td>
<td class="nump">39.7<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=abev_LaterThanSixMonthsAndLessThan12MonthsMember', window );">Later than six months and less than 12 months [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Trade receivables</a></td>
<td class="nump">42.2<span></span>
</td>
<td class="nump">38.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BadDebtProvisions', window );">Bad debt provision</a></td>
<td class="num">(42.2)<span></span>
</td>
<td class="num">(38.9)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CurrentTradeReceivablesNetOfBadDebtProvisions', window );">Net, trade receivables</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PastDueStatusAxis=abev_LaterThanAYearMember', window );">Later than a year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentTradeReceivables', window );">Trade receivables</a></td>
<td class="nump">427.8<span></span>
</td>
<td class="nump">352.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BadDebtProvisions', window );">Bad debt provision</a></td>
<td class="num">(427.8)<span></span>
</td>
<td class="num">(352.0)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CurrentTradeReceivablesNetOfBadDebtProvisions', window );">Net, trade receivables</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_BadDebtProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of bad debt provisions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_BadDebtProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CurrentTradeReceivablesNetOfBadDebtProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables, net of bad debt provisions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CurrentTradeReceivablesNetOfBadDebtProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentTradeReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade receivables. [Refer: Trade receivables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 68<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_68&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentTradeReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=ifrs-full_CurrentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=ifrs-full_CurrentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=abev_LessThanOneMonthMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=abev_LessThanOneMonthMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=ifrs-full_LaterThanOneMonthAndNotLaterThanTwoMonthsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=ifrs-full_LaterThanOneMonthAndNotLaterThanTwoMonthsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=abev_LaterThanThreeMonthsAndLessThanSixMonthsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=abev_LaterThanThreeMonthsAndLessThanSixMonthsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=abev_LaterThanSixMonthsAndLessThan12MonthsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=abev_LaterThanSixMonthsAndLessThan12MonthsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PastDueStatusAxis=abev_LaterThanAYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PastDueStatusAxis=abev_LaterThanAYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>128
<FILENAME>R112.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6806589136">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Note 20 - Cash and Cash Equivalents - Components of Cash and Cash Equivalents (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents', window );">Short term bank deposits (i)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 4,688.5<span></span>
</td>
<td class="nump">R$ 4,027.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BalancesWithBanks', window );">Current bank accounts</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,077.1<span></span>
</td>
<td class="nump">3,467.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashOnHand', window );">Cash</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">588.9<span></span>
</td>
<td class="nump">381.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CashAndCashEquivalents', window );">Cash and cash equivalents</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10,354.5<span></span>
</td>
<td class="nump">7,876.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BankOverdraftsClassifiedAsCashEquivalents', window );">Bank overdrafts</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1.8)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CashAndCashEquivalentsAfterBankOverdrafts', window );">Cash and cash equivalents less bank overdraft</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">R$ 10,352.7<span></span>
</td>
<td class="nump">R$ 7,876.8<span></span>
</td>
<td class="nump">R$ 13,617.7<span></span>
</td>
<td class="nump">R$ 9,623.0<span></span>
</td>
</tr>
<tr><td colspan="6"></td></tr>
<tr><td colspan="6"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">The balance refers mostly to Bank Deposit Certificates - CDB, high liquidity, which are readily convertible into known amounts of cash and which are subject to an insignificant risk of change in value.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Net of bank overdrafts.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CashAndCashEquivalentsAfterBankOverdrafts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount, after bank overdrafts, of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CashAndCashEquivalentsAfterBankOverdrafts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BalancesWithBanks">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash balances held at banks.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BalancesWithBanks</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BankOverdraftsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that has been withdrawn from an account in excess of existing cash balances. This is considered a short-term extension of credit by the bank. [Refer: Cash and cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BankOverdraftsClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashAndCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash on hand and demand deposits, along with short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. [Refer: Cash; Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B13<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B13_a&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashAndCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CashOnHand">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash held by the entity. This does not include demand deposits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CashOnHand</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A classification of cash equivalents representing short-term deposits. [Refer: Cash equivalents]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ShorttermDepositsClassifiedAsCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
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<FILENAME>R113.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6826612784">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Changes in Equity (Details Textual) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 18, 2018</div></th>
<th class="th"><div>Dec. 28, 2017</div></th>
<th class="th"><sup>[1]</sup></th>
<th class="th"><div>Dec. 01, 2017</div></th>
<th class="th"><div>Dec. 29, 2016</div></th>
<th class="th"><div>Feb. 29, 2016</div></th>
<th class="th"><sup>[2]</sup></th>
<th class="th"><div>Dec. 30, 2015</div></th>
<th class="th"><div>Jun. 29, 2015</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustmentsForSharebasedPayments', window );">Adjustments for share-based payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 209.3<span></span>
</td>
<td class="nump">R$ 170.3<span></span>
</td>
<td class="nump">R$ 197.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_InvestmentReserveLimitPercentageOfNetIncome', window );">Investment reserve limit percentage of net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
<td class="nump">60.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatutoryReserveLimitPercentageOfNetIncome', window );">Statutory reserve limit percentage of net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatutoryReserveLimitOfCapitalStock', window );">Statutory reserve limit of capital stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
<td class="nump">20.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatutoryReserveSupplementationCutoffPercentageRelatedToCapitalStock', window );">Statutory reserve supplementation cutoff percentage related to capital stock</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends recognised as distributions to owners</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="nump">R$ 4,869.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 3,454.2<span></span>
</td>
<td colspan="2" class="nump">R$ 2,039.2<span></span>
</td>
<td class="nump">R$ 2,352.7<span></span>
</td>
<td class="nump">R$ 1,570.6<span></span>
</td>
<td class="nump">R$ 4,044.0<span></span>
</td>
<td class="nump">R$ 6,007.3<span></span>
</td>
<td class="nump">R$ 2,612.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Other comprehensive income, net of tax, gains (losses) on revaluation</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">124.6<span></span>
</td>
<td class="num">(129.6)<span></span>
</td>
<td class="num">R$ (24.5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total financial liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22,036.6<span></span>
</td>
<td class="nump">24,423.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceraNacionalDominicanaSaMember', window );">Cervecer&#237;a Nacional Dominicana S.A. [member] | E. Le&#243;n Jimenes S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption', window );">Percentage of ownership acquired through the partial exercise of a put option</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceraNacionalDominicanaSaMember', window );">Cervecer&#237;a Nacional Dominicana S.A. [member] | E. Le&#243;n Jimenes S.A. [member] | Partial exercise of put option for further ownership of subsidiary [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest in subsidiary</a></td>
<td class="nump">85.00%<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialLiabilitiesAxis=abev_PutOptionsMember', window );">Put options [member] | Cervecer&#237;a Nacional Dominicana S.A. [member] | E. Le&#243;n Jimenes S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total financial liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,520.2<span></span>
</td>
<td class="nump">4,878.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialLiabilitiesAxis=abev_PutOptionsMember', window );">Put options [member] | Sucos do Bem [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total financial liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">132.0<span></span>
</td>
<td class="nump">127.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialLiabilitiesAxis=abev_PutOptionsMember', window );">Put options [member] | Tropical Juice [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Total financial liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23.0<span></span>
</td>
<td class="nump">R$ 23.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_AmbevPrivatePensionInstituteOfTheDefinedBenefitsPlanMember', window );">Ambev Private Pension Institute of the defined benefits plan [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Other comprehensive income, net of tax, gains (losses) on revaluation</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 158.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesInvestmentReserveMember', window );">Net income reserves, investment reserve [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendPercentageOfNetIncome', window );">Dividend percentage of net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">114.00%<span></span>
</td>
<td class="nump">72.00%<span></span>
</td>
<td class="nump">74.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends recognised as distributions to owners</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 3,770.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member] | Country of domicile [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendPercentageOfNetIncome', window );">Dividend percentage of net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
</tr>
<tr><td colspan="13"></td></tr>
<tr><td colspan="13"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">R$3,770.1 of these interest on shareholder's equity refer to the total amount approved for distribution in the period, and were accrued in investments reserves.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">These dividends refer to the total amount approved for distribution in the period, and were accrued in investments reserves.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DividendPercentageOfNetIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of net income that will be issued as dividends to shareholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DividendPercentageOfNetIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_InvestmentReserveLimitPercentageOfNetIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of net income the entity is willing to place in the investment reserve.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_InvestmentReserveLimitPercentageOfNetIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of ownership acquired through the partial exercise of a put option.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PercentageOfOwnershipAcquiredThroughThePartialExerciseOfAPutOption</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatutoryReserveLimitOfCapitalStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of limitation on statutory reserve allocation allowed related to the capital stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatutoryReserveLimitOfCapitalStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatutoryReserveLimitPercentageOfNetIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of net income the entity is willing to place in the statutory reserve.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatutoryReserveLimitPercentageOfNetIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatutoryReserveSupplementationCutoffPercentageRelatedToCapitalStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The statutory reserve supplementation cutoff percentage related to capital stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatutoryReserveSupplementationCutoffPercentageRelatedToCapitalStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustmentsForSharebasedPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Adjustments for share-based payments to reconcile profit (loss) to net cash flow from (used in) operating activities. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustmentsForSharebasedPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends recognised as distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 107<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_107&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to gains (losses) in relation to changes in the revaluation surplus. [Refer: Other comprehensive income; Revaluation surplus]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a subsidiary attributable to the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 19B<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceraNacionalDominicanaSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceraNacionalDominicanaSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_ELenJimenesSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_ELenJimenesSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=abev_PartialExerciseOfPutOptionForFurtherOwnershipOfSubsidiaryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=abev_PartialExerciseOfPutOptionForFurtherOwnershipOfSubsidiaryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialLiabilitiesAxis=abev_PutOptionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialLiabilitiesAxis=abev_PutOptionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_SucosDoBemMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_SucosDoBemMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_TropicalJuiceMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_TropicalJuiceMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_AmbevPrivatePensionInstituteOfTheDefinedBenefitsPlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_AmbevPrivatePensionInstituteOfTheDefinedBenefitsPlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesInvestmentReserveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesInvestmentReserveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=ifrs-full_CountryOfDomicileMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=ifrs-full_CountryOfDomicileMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>130
<FILENAME>R114.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6827497840">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Changes in Equity - Capital Stock (Details) - BRL (R$)<br> shares in Millions, R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">R$ 46,651.3<span></span>
</td>
<td class="nump">R$ 50,333.7<span></span>
</td>
<td class="nump">R$ 43,644.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Capital increase</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">R$ 47,982.8<span></span>
</td>
<td class="nump">R$ 46,651.3<span></span>
</td>
<td class="nump">50,333.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_IssuedCapitalMember', window );">Issued capital [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_EquitySharesOutstanding', window );">Balance, common shares (in shares)</a></td>
<td class="nump">15,717.6<span></span>
</td>
<td class="nump">15,717.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">R$ 57,614.1<span></span>
</td>
<td class="nump">R$ 57,614.1<span></span>
</td>
<td class="nump">57,582.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IssueOfEquityShares', window );">Share issued, common shares (in shares)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IssueOfEquity', window );">Capital increase</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">R$ 31.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_EquitySharesOutstanding', window );">Balance, common shares (in shares)</a></td>
<td class="nump">15,717.6<span></span>
</td>
<td class="nump">15,717.6<span></span>
</td>
<td class="nump">15,717.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">R$ 57,614.1<span></span>
</td>
<td class="nump">R$ 57,614.1<span></span>
</td>
<td class="nump">R$ 57,614.1<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_EquitySharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of equity shares outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_EquitySharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IssueOfEquityShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IssueOfEquityShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IssueOfEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in equity through the issue of equity instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IssueOfEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_IssuedCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_IssuedCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>131
<FILENAME>R115.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6808348000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Changes in Equity - Capital Reserves (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CapitalReserve', window );">Balance, capital reserves</a></td>
<td class="nump">R$ 64,230.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CapitalReserve', window );">Balance, capital reserves</a></td>
<td class="nump">63,361.2<span></span>
</td>
<td class="nump">R$ 64,230.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_TreasurySharesMember', window );">Treasury shares [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CapitalReserve', window );">Balance, capital reserves</a></td>
<td class="num">(908.7)<span></span>
</td>
<td class="num">(1,003.5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughTreasuryShareTransactionsCapitalReserve', window );">Purchase of shares and result on treasury shares</a></td>
<td class="nump">13.7<span></span>
</td>
<td class="nump">94.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughSharebasedPaymentTransactionsCapitalReserve', window );">Share-based payments, capital reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CapitalReserve', window );">Balance, capital reserves</a></td>
<td class="num">(895.0)<span></span>
</td>
<td class="num">(908.7)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_SharePremiumMember', window );">Share premium [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CapitalReserve', window );">Balance, capital reserves</a></td>
<td class="nump">53,662.8<span></span>
</td>
<td class="nump">53,662.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughTreasuryShareTransactionsCapitalReserve', window );">Purchase of shares and result on treasury shares</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughSharebasedPaymentTransactionsCapitalReserve', window );">Share-based payments, capital reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CapitalReserve', window );">Balance, capital reserves</a></td>
<td class="nump">53,662.8<span></span>
</td>
<td class="nump">53,662.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_OtherReservesMember', window );">Other reserves [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CapitalReserve', window );">Balance, capital reserves</a></td>
<td class="nump">700.9<span></span>
</td>
<td class="nump">700.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughTreasuryShareTransactionsCapitalReserve', window );">Purchase of shares and result on treasury shares</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughSharebasedPaymentTransactionsCapitalReserve', window );">Share-based payments, capital reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CapitalReserve', window );">Balance, capital reserves</a></td>
<td class="nump">700.9<span></span>
</td>
<td class="nump">700.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_ReserveOfSharebasedPaymentsMember', window );">Reserve of share-based payments [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CapitalReserve', window );">Balance, capital reserves</a></td>
<td class="nump">1,074.9<span></span>
</td>
<td class="nump">1,013.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughTreasuryShareTransactionsCapitalReserve', window );">Purchase of shares and result on treasury shares</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughSharebasedPaymentTransactionsCapitalReserve', window );">Share-based payments, capital reserve</a></td>
<td class="nump">157.4<span></span>
</td>
<td class="nump">61.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CapitalReserve', window );">Balance, capital reserves</a></td>
<td class="nump">1,232.3<span></span>
</td>
<td class="nump">1,074.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_CapitalReserveMember', window );">Capital reserve [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CapitalReserve', window );">Balance, capital reserves</a></td>
<td class="nump">54,529.9<span></span>
</td>
<td class="nump">54,373.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughTreasuryShareTransactionsCapitalReserve', window );">Purchase of shares and result on treasury shares</a></td>
<td class="nump">13.7<span></span>
</td>
<td class="nump">94.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughSharebasedPaymentTransactionsCapitalReserve', window );">Share-based payments, capital reserve</a></td>
<td class="nump">157.4<span></span>
</td>
<td class="nump">61.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CapitalReserve', window );">Balance, capital reserves</a></td>
<td class="nump">R$ 54,701.0<span></span>
</td>
<td class="nump">R$ 54,529.9<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseDecreaseThroughSharebasedPaymentTransactionsCapitalReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in capital reserve resulting from share-based payment transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseDecreaseThroughSharebasedPaymentTransactionsCapitalReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseDecreaseThroughTreasuryShareTransactionsCapitalReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in capital reserve resulting from treasury share transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseDecreaseThroughTreasuryShareTransactionsCapitalReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CapitalReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A component of equity representing the capital reserves.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CapitalReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_TreasurySharesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_TreasurySharesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_SharePremiumMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_OtherReservesMember</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_ReserveOfSharebasedPaymentsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_CapitalReserveMember</td>
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<td><strong> Balance Type:</strong></td>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>132
<FILENAME>R116.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802267984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Changes in Equity - Treasury Shares (Details) - BRL (R$)<br></strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TreasurySharesAcquiredrealizedOutstanding', window );">Balance, treasury shares acquired/realized (in shares)</a></td>
<td class="nump">16,600<span></span>
</td>
<td class="nump">32,600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TreasurySharesAcquiredRealizedDuringThePeriod', window );">Changes during the year, treasury shares acquired/realized (in shares)</a></td>
<td class="num">(9,100)<span></span>
</td>
<td class="num">(16,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TreasurySharesAcquiredrealizedOutstanding', window );">Balance, treasury shares acquired/realized (in shares)</a></td>
<td class="nump">7,500<span></span>
</td>
<td class="nump">16,600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TreasurySharesAcquiredrealizedOutstandingAmount', window );">Balance, treasury shares acquired/realized, amount</a></td>
<td class="num">R$ (312,700)<span></span>
</td>
<td class="num">R$ (617,500)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TreasurySharesAcquiredrealizedDuringThePeriodAmount', window );">Changes during the year, treasury shares acquired/realized, amount</a></td>
<td class="nump">173,000<span></span>
</td>
<td class="nump">304,700<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TreasurySharesAcquiredrealizedOutstandingAmount', window );">Balance, treasury shares acquired/realized, amount</a></td>
<td class="num">R$ (139,700)<span></span>
</td>
<td class="num">R$ (312,700)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TreasurySharesHeld', window );">Balance, treasury shares (in shares)</a></td>
<td class="num">(596,000)<span></span>
</td>
<td class="num">(386,100)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TreasurySharesChangeDuringThePeriod', window );">Changes during the year, treasury shares (in shares)</a></td>
<td class="num">(159,300)<span></span>
</td>
<td class="num">(209,900)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TreasurySharesHeld', window );">Balance, treasury shares (in shares)</a></td>
<td class="num">(755,300)<span></span>
</td>
<td class="num">(596,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TreasuryShares', window );">Balance, treasury shares, amount</a></td>
<td class="num">R$ (908,700)<span></span>
</td>
<td class="num">R$ (1,003,500)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TreasurySharesChangeDuringThePeriodValue', window );">Changes during the year, treasury shares, amount</a></td>
<td class="nump">13,700<span></span>
</td>
<td class="nump">94,800<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TreasuryShares', window );">Balance, treasury shares, amount</a></td>
<td class="num">R$ (895,000)<span></span>
</td>
<td class="num">R$ (908,700)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TreasurySharesAcquiredRealizedDuringThePeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of treasury shares acquired/realized during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TreasurySharesAcquiredRealizedDuringThePeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TreasurySharesAcquiredrealizedDuringThePeriodAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of treasury shares acquired/realized during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TreasurySharesAcquiredrealizedDuringThePeriodAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TreasurySharesAcquiredrealizedOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of treasury shares acquired/realized that are outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TreasurySharesAcquiredrealizedOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TreasurySharesAcquiredrealizedOutstandingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of treasury shares acquired/realized that are outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TreasurySharesAcquiredrealizedOutstandingAmount</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TreasurySharesChangeDuringThePeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The change in treasury shares during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TreasurySharesChangeDuringThePeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TreasurySharesChangeDuringThePeriodValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of the changes to treasury shares during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TreasurySharesChangeDuringThePeriodValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TreasurySharesHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of treasury shares held by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TreasurySharesHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TreasuryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>An entity&#8217;s own equity instruments, held by the entity or other members of the consolidated group.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 32<br> -IssueDate 2017-01-01<br> -Paragraph 34<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=32&amp;date=2017-03-01&amp;anchor=para_34&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TreasuryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>133
<FILENAME>R117.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6827258784">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Changes in Equity - Net Income Reserves (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">R$ 46,651.3<span></span>
</td>
<td class="nump">R$ 50,333.7<span></span>
</td>
<td class="nump">R$ 43,644.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity', window );">Interest on own capital</a></td>
<td class="num">(4,869.7)<span></span>
</td>
<td class="num">(5,493.4)<span></span>
</td>
<td class="num">(6,846.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInFiscalIncentiveReserve', window );">Fiscal incentive reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInvestmentsReserve', window );">Investments reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">47,982.8<span></span>
</td>
<td class="nump">46,651.3<span></span>
</td>
<td class="nump">50,333.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesInvestmentReserveMember', window );">Net income reserves, investment reserve [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">3,859.9<span></span>
</td>
<td class="nump">2,141.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity', window );">Interest on own capital</a></td>
<td class="num">(3,770.1)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInReserveDestinationEquity', window );">Destination of net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,718.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInFiscalIncentiveReserve', window );">Fiscal incentive reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInvestmentsReserve', window );">Investments reserve</a></td>
<td class="nump">1,177.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">1,267.7<span></span>
</td>
<td class="nump">3,859.9<span></span>
</td>
<td class="nump">2,141.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesStatutoryReserveMember', window );">Net income reserves, statutory reserve [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">4.5<span></span>
</td>
<td class="nump">4.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity', window );">Interest on own capital</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInReserveDestinationEquity', window );">Destination of net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInFiscalIncentiveReserve', window );">Fiscal incentive reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInvestmentsReserve', window );">Investments reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">4.5<span></span>
</td>
<td class="nump">4.5<span></span>
</td>
<td class="nump">4.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesFiscalIncentiveMember', window );">Net income reserves, fiscal incentive [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">5,835.7<span></span>
</td>
<td class="nump">4,016.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity', window );">Interest on own capital</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInReserveDestinationEquity', window );">Destination of net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,819.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInFiscalIncentiveReserve', window );">Fiscal incentive reserve</a></td>
<td class="nump">1,552.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInvestmentsReserve', window );">Investments reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">7,388.0<span></span>
</td>
<td class="nump">5,835.7<span></span>
</td>
<td class="nump">4,016.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesInterestOnCapitalAndDividendsProposedMember', window );">Net income reserves, interest on capital and dividends proposed [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">2,039.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity', window );">Interest on own capital</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(2,039.2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInReserveDestinationEquity', window );">Destination of net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInFiscalIncentiveReserve', window );">Fiscal incentive reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInvestmentsReserve', window );">Investments reserve</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,039.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesMember', window );">Net income reserves [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">9,700.1<span></span>
</td>
<td class="nump">8,201.2<span></span>
</td>
<td class="nump">4,883.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity', window );">Interest on own capital</a></td>
<td class="num">(3,770.1)<span></span>
</td>
<td class="num">(2,039.2)<span></span>
</td>
<td class="num">(1,979.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInReserveDestinationEquity', window );">Destination of net income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,538.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInFiscalIncentiveReserve', window );">Fiscal incentive reserve</a></td>
<td class="nump">1,552.3<span></span>
</td>
<td class="nump">1,819.5<span></span>
</td>
<td class="nump">1,143.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseInvestmentsReserve', window );">Investments reserve</a></td>
<td class="nump">1,177.9<span></span>
</td>
<td class="nump">1,718.6<span></span>
</td>
<td class="nump">2,114.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">R$ 8,660.2<span></span>
</td>
<td class="nump">R$ 9,700.1<span></span>
</td>
<td class="nump">R$ 8,201.2<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseDecreaseInFiscalIncentiveReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the fiscal incentive reserve.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseDecreaseInFiscalIncentiveReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseDecreaseInReserveDestinationEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in reserve destination regarding equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseDecreaseInReserveDestinationEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseDecreaseInvestmentsReserve">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in investments reserve.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseDecreaseInvestmentsReserve</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the entity's equity resulting from the change in the shareholder's equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesInvestmentReserveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesInvestmentReserveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesStatutoryReserveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesStatutoryReserveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesFiscalIncentiveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesFiscalIncentiveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesInterestOnCapitalAndDividendsProposedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesInterestOnCapitalAndDividendsProposedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</html>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>134
<FILENAME>R118.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6810936528">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Changes in Equity - Interest on Shareholders' Equity/Dividends (Details) - BRL (R$)<br> R$ / shares in Units, R$ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Feb. 22, 2018</div></th>
<th class="th" colspan="2"><div>Dec. 28, 2017</div></th>
<th class="th"><div>Jul. 17, 2017</div></th>
<th class="th"><div>Feb. 23, 2017</div></th>
<th class="th"><div>Dec. 29, 2016</div></th>
<th class="th"><div>Nov. 25, 2016</div></th>
<th class="th"><div>Jul. 29, 2016</div></th>
<th class="th" colspan="2"><div>Feb. 29, 2016</div></th>
<th class="th"><div>Dec. 30, 2015</div></th>
<th class="th"><div>Sep. 28, 2015</div></th>
<th class="th"><div>Jun. 29, 2015</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidOrdinarySharesPerShare', window );">Amount per share, dividends (in BRL per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">R$ 0.16<span></span>
</td>
<td class="nump">R$ 0.07<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 0.16<span></span>
</td>
<td class="nump">R$ 0.13<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 0.15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidOrdinaryShares', window );">Total amount of dividends</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">R$ 2,513.1<span></span>
</td>
<td class="nump">R$ 1,099.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 2,511.9<span></span>
</td>
<td class="nump">R$ 2,040.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 2,352.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare', window );">Amount per share, interest on shareholder&#180;s equity (in BRL per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 0.31<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 0.22<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 0.13<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">R$ 0.15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 0.10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends recognised as distributions to owners</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 4,869.7<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 3,454.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 2,039.2<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">R$ 2,352.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 1,570.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 4,044.0<span></span>
</td>
<td class="nump">R$ 6,007.3<span></span>
</td>
<td class="nump">R$ 2,612.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TotalDividendsPaid', window );">Total amount of dividends and interest on shareholder&#180;s equity</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 8,482.5<span></span>
</td>
<td class="nump">R$ 11,145.2<span></span>
</td>
<td class="nump">R$ 7,690.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ifrs-full_PotentialOrdinaryShareTransactionsMember', window );">Potential ordinary share transactions [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidOrdinarySharesPerShare', window );">Amount per share, dividends (in BRL per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 0.07<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaidOrdinaryShares', window );">Total amount of dividends</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 1,099.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_Dividends1Member', window );">Dividends 1 [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare', window );">Amount per share, interest on shareholder&#180;s equity (in BRL per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 0.03<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends recognised as distributions to owners</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 471.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_Dividends2Member', window );">Dividends 2 [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare', window );">Amount per share, interest on shareholder&#180;s equity (in BRL per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 0.06<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DividendsPaid', window );">Dividends recognised as distributions to owners</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 943.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="18"></td></tr>
<tr><td colspan="18"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">R$3,770.1 of these interest on shareholder's equity refer to the total amount approved for distribution in the period, and were accrued in investments reserves.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">These dividends refer to the total amount approved for distribution in the period, and were accrued in investments reserves.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TotalDividendsPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total dividends paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TotalDividendsPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends recognised as distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 107<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_107&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidOrdinaryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends paid by the entity on ordinary shares. [Refer: Ordinary shares [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 34<br> -IssueDate 2017-01-01<br> -Paragraph 16A<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=34&amp;date=2017-03-01&amp;anchor=para_16A_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidOrdinaryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsPaidOrdinarySharesPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends paid per ordinary share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 34<br> -IssueDate 2017-01-01<br> -Paragraph 16A<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=34&amp;date=2017-03-01&amp;anchor=para_16A_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsPaidOrdinarySharesPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount, per share, of dividends recognised as distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 107<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_107&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DividendsRecognisedAsDistributionsToOwnersPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ifrs-full_PotentialOrdinaryShareTransactionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=ifrs-full_PotentialOrdinaryShareTransactionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_Dividends1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_Dividends1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_Dividends2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_Dividends2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>135
<FILENAME>R119.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6805523056">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Changes in Equity - Carrying Value Adjustments (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">R$ 46,651.3<span></span>
</td>
<td class="nump">R$ 50,333.7<span></span>
</td>
<td class="nump">R$ 43,644.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Gains/(losses) on translation of foreign operations</a></td>
<td class="nump">1,952.3<span></span>
</td>
<td class="num">(4,127.7)<span></span>
</td>
<td class="nump">3,414.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Cash flow hedges</a></td>
<td class="nump">513.7<span></span>
</td>
<td class="num">(1,073.3)<span></span>
</td>
<td class="nump">664.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Actuarial gain/(losses)</a></td>
<td class="nump">124.6<span></span>
</td>
<td class="num">(129.6)<span></span>
</td>
<td class="num">(24.5)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income</a></td>
<td class="nump">10,441.1<span></span>
</td>
<td class="nump">7,752.8<span></span>
</td>
<td class="nump">16,933.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity', window );">Options granted on subsidiary</a></td>
<td class="num">(380.4)<span></span>
</td>
<td class="num">(144.1)<span></span>
</td>
<td class="num">(189.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners', window );">Gains/(losses) of controlling interest&#180;s share</a></td>
<td class="nump">17.4<span></span>
</td>
<td class="nump">34.8<span></span>
</td>
<td class="nump">5.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity', window );">Exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3.1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting', window );">Reversal effect of revaluation of fixed assets by predecessor</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity', window );">Tax on fictitious dividends</a></td>
<td class="num">(38.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">47,982.8<span></span>
</td>
<td class="nump">46,651.3<span></span>
</td>
<td class="nump">50,333.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsTranslationReservesMember', window );">Carrying value adjustments, translation reserves [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="num">(289.5)<span></span>
</td>
<td class="nump">3,472.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Gains/(losses) on translation of foreign operations</a></td>
<td class="nump">1,928.6<span></span>
</td>
<td class="num">(3,728.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Cash flow hedges</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Actuarial gain/(losses)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income</a></td>
<td class="nump">1,928.6<span></span>
</td>
<td class="num">(3,728.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity', window );">Options granted on subsidiary</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners', window );">Gains/(losses) of controlling interest&#180;s share</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity', window );">Exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(33.0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting', window );">Reversal effect of revaluation of fixed assets by predecessor</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity', window );">Tax on fictitious dividends</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">1,639.1<span></span>
</td>
<td class="num">(289.5)<span></span>
</td>
<td class="nump">3,472.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsCashFlowHedgeMember', window );">Carrying value adjustments, cash flow hedge [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="num">(144.5)<span></span>
</td>
<td class="nump">932.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Gains/(losses) on translation of foreign operations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Cash flow hedges</a></td>
<td class="nump">513.4<span></span>
</td>
<td class="num">(1,076.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Actuarial gain/(losses)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income</a></td>
<td class="nump">513.4<span></span>
</td>
<td class="num">(1,076.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity', window );">Options granted on subsidiary</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners', window );">Gains/(losses) of controlling interest&#180;s share</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity', window );">Exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting', window );">Reversal effect of revaluation of fixed assets by predecessor</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity', window );">Tax on fictitious dividends</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">368.9<span></span>
</td>
<td class="num">(144.5)<span></span>
</td>
<td class="nump">932.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsActuarialGainslossesMember', window );">Carrying value adjustments, actuarial gains/losses [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="num">(1,262.2)<span></span>
</td>
<td class="num">(1,131.5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Gains/(losses) on translation of foreign operations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Cash flow hedges</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Actuarial gain/(losses)</a></td>
<td class="nump">117.7<span></span>
</td>
<td class="num">(130.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income</a></td>
<td class="nump">117.7<span></span>
</td>
<td class="num">(130.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity', window );">Options granted on subsidiary</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners', window );">Gains/(losses) of controlling interest&#180;s share</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity', window );">Exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting', window );">Reversal effect of revaluation of fixed assets by predecessor</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity', window );">Tax on fictitious dividends</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="num">(1,144.5)<span></span>
</td>
<td class="num">(1,262.2)<span></span>
</td>
<td class="num">(1,131.5)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsPutOptionGrantedOnSubsidiaryMember', window );">Carrying value adjustments, put option granted on subsidiary [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="num">(2,390.9)<span></span>
</td>
<td class="num">(2,246.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Gains/(losses) on translation of foreign operations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Cash flow hedges</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Actuarial gain/(losses)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity', window );">Options granted on subsidiary</a></td>
<td class="num">(380.4)<span></span>
</td>
<td class="num">(144.2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners', window );">Gains/(losses) of controlling interest&#180;s share</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity', window );">Exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting', window );">Reversal effect of revaluation of fixed assets by predecessor</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity', window );">Tax on fictitious dividends</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="num">(2,771.3)<span></span>
</td>
<td class="num">(2,390.9)<span></span>
</td>
<td class="num">(2,246.7)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsGainsOfNoncontrollingInterestsShareMember', window );">Carrying value adjustments, gains/ of non-controlling interest&#180;s share [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">2,150.7<span></span>
</td>
<td class="nump">2,123.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Gains/(losses) on translation of foreign operations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Cash flow hedges</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Actuarial gain/(losses)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity', window );">Options granted on subsidiary</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners', window );">Gains/(losses) of controlling interest&#180;s share</a></td>
<td class="num">(12.1)<span></span>
</td>
<td class="num">(2.8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity', window );">Exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting', window );">Reversal effect of revaluation of fixed assets by predecessor</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity', window );">Tax on fictitious dividends</a></td>
<td class="num">(38.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">2,099.9<span></span>
</td>
<td class="nump">2,150.7<span></span>
</td>
<td class="nump">2,123.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsBusinessCombinationMember', window );">Carrying value adjustments, business combination [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">156.1<span></span>
</td>
<td class="nump">156.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Gains/(losses) on translation of foreign operations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Cash flow hedges</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Actuarial gain/(losses)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity', window );">Options granted on subsidiary</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners', window );">Gains/(losses) of controlling interest&#180;s share</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity', window );">Exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting', window );">Reversal effect of revaluation of fixed assets by predecessor</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity', window );">Tax on fictitious dividends</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="nump">156.1<span></span>
</td>
<td class="nump">156.1<span></span>
</td>
<td class="nump">156.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsAccountingAdjustmentsForTransactionsBetweenShareholdersMember', window );">Carrying value adjustments, accounting adjustments for transactions between shareholders [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="num">(75,238.8)<span></span>
</td>
<td class="num">(75,162.9)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Gains/(losses) on translation of foreign operations</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Cash flow hedges</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Actuarial gain/(losses)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity', window );">Options granted on subsidiary</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners', window );">Gains/(losses) of controlling interest&#180;s share</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity', window );">Exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting', window );">Reversal effect of revaluation of fixed assets by predecessor</a></td>
<td class="num">(75.9)<span></span>
</td>
<td class="num">(75.9)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity', window );">Tax on fictitious dividends</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="num">(75,314.7)<span></span>
</td>
<td class="num">(75,238.8)<span></span>
</td>
<td class="num">(75,162.9)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsMember', window );">Carrying value adjustments [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="num">(77,019.1)<span></span>
</td>
<td class="num">(71,857.0)<span></span>
</td>
<td class="num">(75,267.9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation', window );">Gains/(losses) on translation of foreign operations</a></td>
<td class="nump">1,928.6<span></span>
</td>
<td class="num">(3,728.8)<span></span>
</td>
<td class="nump">3,018.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges', window );">Cash flow hedges</a></td>
<td class="nump">513.4<span></span>
</td>
<td class="num">(1,076.7)<span></span>
</td>
<td class="nump">666.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation', window );">Actuarial gain/(losses)</a></td>
<td class="nump">117.7<span></span>
</td>
<td class="num">(130.7)<span></span>
</td>
<td class="num">(22.4)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComprehensiveIncome', window );">Total comprehensive income</a></td>
<td class="nump">2,559.7<span></span>
</td>
<td class="num">(4,936.2)<span></span>
</td>
<td class="nump">3,662.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity', window );">Options granted on subsidiary</a></td>
<td class="num">(380.4)<span></span>
</td>
<td class="num">(144.1)<span></span>
</td>
<td class="num">(189.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners', window );">Gains/(losses) of controlling interest&#180;s share</a></td>
<td class="num">(12.1)<span></span>
</td>
<td class="num">(2.8)<span></span>
</td>
<td class="nump">13.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity', window );">Exchange transaction of shareholdings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3.1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting', window );">Reversal effect of revaluation of fixed assets by predecessor</a></td>
<td class="num">(75.9)<span></span>
</td>
<td class="num">(75.9)<span></span>
</td>
<td class="num">(75.9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity', window );">Tax on fictitious dividends</a></td>
<td class="num">(38.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Equity', window );">Balance</a></td>
<td class="num">R$ (74,966.5)<span></span>
</td>
<td class="num">R$ (77,019.1)<span></span>
</td>
<td class="num">R$ (71,857.0)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in equity resulting from tax on fictitious dividends.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DecreaseIncreaseThroughTaxOnFictitiousDividendsEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the entity's equity resulting from the change in the stock exchange transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseDecreaseThroughChangeInTheStockExchangeTransacionsEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from the put options granted on subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseDecreaseThroughPutOpionsGrantedOnSubsidiaryEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The reversal effect revaluation of fixed assets under the predecessor basis accounting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComprehensiveIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of change in equity resulting from transactions and other events, other than those changes resulting from transactions with owners in their capacity as owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B12<br> -Subparagraph b<br> -Clause ix<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B12_b_ix&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph B10<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_B10_b&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81A<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81A_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComprehensiveIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Equity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of residual interest in the assets of the entity after deducting all its liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 24<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_24_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 32<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_32_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Equity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in equity resulting from transactions with owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 106<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_106_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughTransactionsWithOwners</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to cash flow hedges. [Refer: Cash flow hedges [member]; Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxCashFlowHedges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to exchange differences when financial statements of foreign operations are translated. [Refer: Other comprehensive income]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other comprehensive income, net of tax, related to gains (losses) in relation to changes in the revaluation surplus. [Refer: Other comprehensive income; Revaluation surplus]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 91<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_91_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRevaluation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsTranslationReservesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsTranslationReservesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsCashFlowHedgeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsCashFlowHedgeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsActuarialGainslossesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsActuarialGainslossesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsPutOptionGrantedOnSubsidiaryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsPutOptionGrantedOnSubsidiaryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsGainsOfNoncontrollingInterestsShareMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsGainsOfNoncontrollingInterestsShareMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsBusinessCombinationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsBusinessCombinationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsAccountingAdjustmentsForTransactionsBetweenShareholdersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsAccountingAdjustmentsForTransactionsBetweenShareholdersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_CarryingValueAdjustmentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>136
<FILENAME>R120.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801655568">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Changes in Equity - Diluted Earnings (Details) - shares<br> shares in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageShares', window );">Issued shares at December 31, net of treasury shares (i) (in shares)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">15,705.8<span></span>
</td>
<td class="nump">15,696.6<span></span>
</td>
<td class="nump">15,696.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares', window );">Effect of shares options (in shares)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">132.2<span></span>
</td>
<td class="nump">126.5<span></span>
</td>
<td class="nump">124.0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustedWeightedAverageShares', window );">Weighted average number of shares (diluted) at December 31 (in shares)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">15,838.1<span></span>
</td>
<td class="nump">15,823.1<span></span>
</td>
<td class="nump">15,820.1<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Not considered treasury shares.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustedWeightedAverageShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average number of ordinary shares outstanding plus the weighted average number of ordinary shares that would be issued on the conversion of all the dilutive potential ordinary shares into ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2017-01-01<br> -Paragraph 70<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2017-03-01&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustedWeightedAverageShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of dilutive potential ordinary shares that relate to the assumed exercise of the entity's share options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2017-01-01<br> -Paragraph 70<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2017-03-01&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued during the period multiplied by a time-weighting factor.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2017-01-01<br> -Paragraph 70<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2017-03-01&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>137
<FILENAME>R121.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802746144">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Changes in Equity - Calculation of Earnings Per Share (Details) - BRL (R$)<br> R$ / shares in Units, shares in Millions, R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity', window );">Income attributable to equity holders of Ambev</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 7,332.0<span></span>
</td>
<td class="nump">R$ 12,546.6<span></span>
</td>
<td class="nump">R$ 12,423.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageShares', window );">Issued shares at December 31, net of treasury shares (i) (in shares)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">15,705.8<span></span>
</td>
<td class="nump">15,696.6<span></span>
</td>
<td class="nump">15,696.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BasicEarningsLossPerShare', window );">Basic earnings per share &#8211; common - R$ (in BRL per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">R$ 0.47<span></span>
</td>
<td class="nump">R$ 0.80<span></span>
</td>
<td class="nump">R$ 0.79<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdjustedWeightedAverageShares', window );">Weighted average numbers of shares (diluted) (in shares)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">15,838.1<span></span>
</td>
<td class="nump">15,823.1<span></span>
</td>
<td class="nump">15,820.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DilutedEarningsLossPerShare', window );">Diluted earnings per share &#8211; common - R$ (in BRL per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">R$ 0.46<span></span>
</td>
<td class="nump">R$ 0.79<span></span>
</td>
<td class="nump">R$ 0.79<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Not considered treasury shares.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">Expressed in Brazilian Reais.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdjustedWeightedAverageShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average number of ordinary shares outstanding plus the weighted average number of ordinary shares that would be issued on the conversion of all the dilutive potential ordinary shares into ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2017-01-01<br> -Paragraph 70<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2017-03-01&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdjustedWeightedAverageShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BasicEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator) divided by the weighted average number of ordinary shares outstanding during the period (the denominator).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2017-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2017-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BasicEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DilutedEarningsLossPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of profit (loss) attributable to ordinary equity holders of the parent entity (the numerator), divided by the weighted average number of ordinary shares outstanding during the period (the denominator), both adjusted for the effects of all dilutive potential ordinary shares. [Refer: Ordinary shares [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2017-01-01<br> -Paragraph 66<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2017-03-01&amp;anchor=para_66&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DilutedEarningsLossPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) attributable to ordinary equity holders of the parent equity. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2017-01-01<br> -Paragraph 70<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2017-03-01&amp;anchor=para_70_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of ordinary shares outstanding at the beginning of the period, adjusted by the number of ordinary shares bought back or issued during the period multiplied by a time-weighting factor.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 33<br> -IssueDate 2017-01-01<br> -Paragraph 70<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=33&amp;date=2017-03-01&amp;anchor=para_70_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>138
<FILENAME>R122.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6810826832">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 21 - Changes in Equity - Basis for Dividends (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Net income, attributable to equity holders of Ambev</a></td>
<td class="nump">R$ 7,332.0<span></span>
</td>
<td class="nump">R$ 12,546.6<span></span>
</td>
<td class="nump">R$ 12,423.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting', window );">Reversal effect of revaluation of fixed assets by predecessor</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsAndInterestPaidOnShareholdersEquity', window );">Interest on capital paid based on the investment reserve</a></td>
<td class="num">(8,819.8)<span></span>
</td>
<td class="num">(10,330.6)<span></span>
</td>
<td class="num">(11,490.2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity', window );">Total of Interest on capital</a></td>
<td class="nump">4,869.7<span></span>
</td>
<td class="nump">5,493.4<span></span>
</td>
<td class="nump">6,846.1<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TotalDividendsPaid', window );">Total of distributed and accrued to distribute</a></td>
<td class="nump">8,482.5<span></span>
</td>
<td class="nump">11,145.2<span></span>
</td>
<td class="nump">7,690.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_RetainedEarningsMember', window );">Retained earnings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProfitLossAttributableToOwnersOfParent', window );">Net income, attributable to equity holders of Ambev</a></td>
<td class="nump">7,332.0<span></span>
</td>
<td class="nump">12,546.6<span></span>
</td>
<td class="nump">12,423.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PrescribedDividends', window );">Prescribed dividends</a></td>
<td class="nump">34.7<span></span>
</td>
<td class="nump">21.6<span></span>
</td>
<td class="nump">16.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting', window );">Reversal effect of revaluation of fixed assets by predecessor</a></td>
<td class="nump">75.9<span></span>
</td>
<td class="nump">75.9<span></span>
</td>
<td class="nump">75.9<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RetainedEarningsBasisForDividendsAndDestinations', window );">Retained earnings basis for dividends and destinations</a></td>
<td class="nump">7,442.6<span></span>
</td>
<td class="nump">12,644.1<span></span>
</td>
<td class="nump">12,515.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity', window );">Total of Interest on capital</a></td>
<td class="nump">1,099.6<span></span>
</td>
<td class="nump">3,454.2<span></span>
</td>
<td class="nump">4,866.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesMember', window );">Net income reserves [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting', window );">Reversal effect of revaluation of fixed assets by predecessor</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsAndInterestOnCapitalPaidBasedOnProfit', window );">Dividends and Interest on capital paid based on profit</a></td>
<td class="nump">3,612.7<span></span>
</td>
<td class="nump">5,651.8<span></span>
</td>
<td class="nump">7,218.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseInInterestOnCapitalApprovedForDistribution', window );">Dividends approved for distribution</a></td>
<td class="nump">1,099.7<span></span>
</td>
<td class="nump">3,454.2<span></span>
</td>
<td class="nump">2,039.2<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TotalOfDividendsAndInterestOnCapital', window );">Total of dividends and Interest on capital</a></td>
<td class="nump">R$ 4,712.4<span></span>
</td>
<td class="nump">R$ 9,106.0<span></span>
</td>
<td class="nump">R$ 9,257.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendPercentageOfNetIncome', window );">Percentage of distributed profit</a></td>
<td class="nump">63.00%<span></span>
</td>
<td class="nump">72.00%<span></span>
</td>
<td class="nump">74.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity', window );">Total of Interest on capital</a></td>
<td class="nump">R$ 3,770.1<span></span>
</td>
<td class="nump">R$ 2,039.2<span></span>
</td>
<td class="nump">R$ 1,979.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesInvestmentReserveMember', window );">Net income reserves, investment reserve [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendPercentageOfNetIncome', window );">Percentage of distributed profit</a></td>
<td class="nump">114.00%<span></span>
</td>
<td class="nump">72.00%<span></span>
</td>
<td class="nump">74.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsAndInterestPaidOnShareholdersEquity', window );">Interest on capital paid based on the investment reserve</a></td>
<td class="nump">R$ 3,770.1<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity', window );">Total of Interest on capital</a></td>
<td class="nump">3,770.1<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TotalDividendsPaid', window );">Total of distributed and accrued to distribute</a></td>
<td class="nump">R$ 8,482.5<span></span>
</td>
<td class="nump">R$ 9,106.0<span></span>
</td>
<td class="nump">R$ 9,257.9<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DividendPercentageOfNetIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of net income that will be issued as dividends to shareholders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DividendPercentageOfNetIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DividendsAndInterestOnCapitalPaidBasedOnProfit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The dividends and interest on capital paid based on profit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DividendsAndInterestOnCapitalPaidBasedOnProfit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DividendsAndInterestPaidOnShareholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The dividends and interest paid on shareholder's equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DividendsAndInterestPaidOnShareholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the entity's equity resulting from the change in the shareholder's equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseDecreaseThroughChangeInShareholdersEquityEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_IncreaseInInterestOnCapitalApprovedForDistribution">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase in the entity's interest resulting from the change in the shareholder's dividend distributions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_IncreaseInInterestOnCapitalApprovedForDistribution</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PrescribedDividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of the dividends prescribed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PrescribedDividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_RetainedEarningsBasisForDividendsAndDestinations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The retained earnings basis for dividends and destinations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_RetainedEarningsBasisForDividendsAndDestinations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The reversal effect revaluation of fixed assets under the predecessor basis accounting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ReversalEffectRevaluationOfFixedAssetsUnderThePredecessorBasisAccounting</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TotalDividendsPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total dividends paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TotalDividendsPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TotalOfDividendsAndInterestOnCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount of dividends and interest on capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TotalOfDividendsAndInterestOnCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProfitLossAttributableToOwnersOfParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The profit (loss) attributable to owners of the parent. [Refer: Profit (loss)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 81B<br> -Subparagraph a<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_81B_a_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProfitLossAttributableToOwnersOfParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=ifrs-full_RetainedEarningsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=ifrs-full_RetainedEarningsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesInvestmentReserveMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ComponentsOfEquityAxis=abev_NetIncomeReservesInvestmentReserveMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>139
<FILENAME>R123.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6803388976">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 22 - Interest-Bearing Loans and Borrowings - Liabilities (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="nump">R$ 1,231.9<span></span>
</td>
<td class="nump">R$ 1,765.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="nump">1,321.1<span></span>
</td>
<td class="nump">3,630.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_SecuredBankLoansMember', window );">Secured bank loans [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="nump">589.3<span></span>
</td>
<td class="nump">665.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="nump">879.6<span></span>
</td>
<td class="nump">1,381.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_UnsecuredBankLoansMember', window );">Unsecured bank loans [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="nump">413.7<span></span>
</td>
<td class="nump">609.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="nump">394.3<span></span>
</td>
<td class="nump">1,910.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_DebenturesAndUnsecuredBondIssuesMember', window );">Debentures and unsecured bond issues [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="nump">102.7<span></span>
</td>
<td class="nump">100.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">296.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_OtherUnsecuredLoansMember', window );">Other unsecured loans [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="nump">101.5<span></span>
</td>
<td class="nump">356.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="nump">38.4<span></span>
</td>
<td class="nump">33.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_FinancialLeasingMember', window );">Financial leasing [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="nump">24.7<span></span>
</td>
<td class="nump">33.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="nump">R$ 8.8<span></span>
</td>
<td class="nump">R$ 9.2<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current borrowings and current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_SecuredBankLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=abev_SecuredBankLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_UnsecuredBankLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=abev_UnsecuredBankLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_DebenturesAndUnsecuredBondIssuesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=abev_DebenturesAndUnsecuredBondIssuesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_OtherUnsecuredLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=abev_OtherUnsecuredLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_FinancialLeasingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=abev_FinancialLeasingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6809845888">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 22 - Interest-Bearing Loans and Borrowings - Debt Interest Rates (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="nump">R$ 1,321.1<span></span>
</td>
<td class="nump">R$ 3,630.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="nump">1,231.9<span></span>
</td>
<td class="nump">1,765.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=abev_DebtDenominatedInUSDMember', window );">Debt denominated in USD [member] | Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="nump">6.4<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="nump">16.5<span></span>
</td>
<td class="nump">11.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=abev_DebtDenominatedInUSDMember', window );">Debt denominated in USD [member] | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="nump">78.3<span></span>
</td>
<td class="nump">1,508.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="nump">476.9<span></span>
</td>
<td class="nump">351.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=abev_DebtDenominatedInCADDollarsMember', window );">Debt denominated in CAD dollars [member] | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="nump">685.9<span></span>
</td>
<td class="nump">1,259.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=abev_BrazilianDevelopmentBankBasketDebtMember', window );">Brazilian Development Bank basket debt [member] | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">22.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=abev_DebtDenominatedInOtherLatinAmericanCurrenciesMember', window );">Debt denominated in other Latin American currencies [member] | Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="nump">199.1<span></span>
</td>
<td class="nump">114.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">233.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=abev_DebtDenominatedInOtherLatinAmericanCurrenciesMember', window );">Debt denominated in other Latin American currencies [member] | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="nump">5.0<span></span>
</td>
<td class="nump">4.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=abev_TJLPBNDESDenominatedDebtMember', window );">TJLP BNDES denominated debt [member] | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="nump">165.3<span></span>
</td>
<td class="nump">216.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="nump">237.0<span></span>
</td>
<td class="nump">398.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=abev_ReaisDebtRelatedToICMSMember', window );">Reais debt related to ICMS [member] | Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="nump">38.4<span></span>
</td>
<td class="nump">33.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="nump">91.5<span></span>
</td>
<td class="nump">344.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=abev_ReaisDebenturesRelatedToCDIMember', window );">Reais debentures related to CDI [member] | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">52.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsByNameAxis=abev_ReaisDebtMember', window );">Reais debt [member] | Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings', window );">Interest-bearing loans and borrowings, current</a></td>
<td class="nump">147.7<span></span>
</td>
<td class="nump">423.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LongtermBorrowings', window );">Interest-bearing loans and borrowings, noncurrent</a></td>
<td class="nump">R$ 405.0<span></span>
</td>
<td class="nump">R$ 421.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember', window );">Weighted average [member] | Debt denominated in USD [member] | Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Average rate percentage</a></td>
<td class="nump">3.83%<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember', window );">Weighted average [member] | Debt denominated in USD [member] | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Average rate percentage</a></td>
<td class="nump">2.74%<span></span>
</td>
<td class="nump">1.55%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember', window );">Weighted average [member] | Debt denominated in CAD dollars [member] | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Average rate percentage</a></td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">1.62%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember', window );">Weighted average [member] | Brazilian Development Bank basket debt [member] | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Average rate percentage</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">1.70%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember', window );">Weighted average [member] | Debt denominated in other Latin American currencies [member] | Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Average rate percentage</a></td>
<td class="nump">9.27%<span></span>
</td>
<td class="nump">8.86%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember', window );">Weighted average [member] | Debt denominated in other Latin American currencies [member] | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Average rate percentage</a></td>
<td class="nump">2.33%<span></span>
</td>
<td class="nump">2.66%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember', window );">Weighted average [member] | TJLP BNDES denominated debt [member] | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Average rate percentage</a></td>
<td class="nump">9.22%<span></span>
</td>
<td class="nump">9.66%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember', window );">Weighted average [member] | Reais debt related to ICMS [member] | Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Average rate percentage</a></td>
<td class="nump">5.57%<span></span>
</td>
<td class="nump">4.13%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember', window );">Weighted average [member] | Reais debentures related to CDI [member] | Floating interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Average rate percentage</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">13.63%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember', window );">Weighted average [member] | Reais debt [member] | Fixed interest rate [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_BorrowingsInterestRate', window );">Average rate percentage</a></td>
<td class="nump">6.63%<span></span>
</td>
<td class="nump">7.64%<span></span>
</td>
</tr>
</table>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
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<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The interest rate on borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 7<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_7&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current borrowings and current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentBorrowingsAndCurrentPortionOfNoncurrentBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LongtermBorrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current portion of non-current borrowings. [Refer: Borrowings]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LongtermBorrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=abev_DebtDenominatedInUSDMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=abev_DebtDenominatedInUSDMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FixedInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfInterestRatesAxis=ifrs-full_FloatingInterestRateMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=abev_DebtDenominatedInCADDollarsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=abev_DebtDenominatedInCADDollarsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=abev_BrazilianDevelopmentBankBasketDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=abev_BrazilianDevelopmentBankBasketDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=abev_DebtDenominatedInOtherLatinAmericanCurrenciesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=abev_DebtDenominatedInOtherLatinAmericanCurrenciesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=abev_TJLPBNDESDenominatedDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=abev_TJLPBNDESDenominatedDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=abev_ReaisDebtRelatedToICMSMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=abev_ReaisDebtRelatedToICMSMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=abev_ReaisDebenturesRelatedToCDIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=abev_ReaisDebenturesRelatedToCDIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_BorrowingsByNameAxis=abev_ReaisDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_BorrowingsByNameAxis=abev_ReaisDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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</html>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>141
<FILENAME>R125.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6826302160">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 22 - Interest-Bearing Loans and Borrowings - Terms and Debt Repayment Schedule (Details)<br> R$ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>BRL (R$)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">R$ 2,553.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">1,321.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">724.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">82.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember', window );">Later than three years and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">223.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">201.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_SecuredBankLoansMember', window );">Secured bank loans [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">1,468.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_SecuredBankLoansMember', window );">Secured bank loans [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">879.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_SecuredBankLoansMember', window );">Secured bank loans [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">253.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_SecuredBankLoansMember', window );">Secured bank loans [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">57.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_SecuredBankLoansMember', window );">Secured bank loans [member] | Later than three years and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">109.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_SecuredBankLoansMember', window );">Secured bank loans [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">168.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_UnsecuredBankLoansMember', window );">Unsecured bank loans [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">808.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_UnsecuredBankLoansMember', window );">Unsecured bank loans [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">394.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_UnsecuredBankLoansMember', window );">Unsecured bank loans [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">413.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_UnsecuredBankLoansMember', window );">Unsecured bank loans [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_UnsecuredBankLoansMember', window );">Unsecured bank loans [member] | Later than three years and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_UnsecuredBankLoansMember', window );">Unsecured bank loans [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_DebenturesAndUnsecuredBondIssuesMember', window );">Debentures and unsecured bond issues [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">102.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_DebenturesAndUnsecuredBondIssuesMember', window );">Debentures and unsecured bond issues [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_DebenturesAndUnsecuredBondIssuesMember', window );">Debentures and unsecured bond issues [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_DebenturesAndUnsecuredBondIssuesMember', window );">Debentures and unsecured bond issues [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_DebenturesAndUnsecuredBondIssuesMember', window );">Debentures and unsecured bond issues [member] | Later than three years and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">102.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_DebenturesAndUnsecuredBondIssuesMember', window );">Debentures and unsecured bond issues [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_OtherUnsecuredLoansMember', window );">Other unsecured loans [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">139.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_OtherUnsecuredLoansMember', window );">Other unsecured loans [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">38.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_OtherUnsecuredLoansMember', window );">Other unsecured loans [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">32.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_OtherUnsecuredLoansMember', window );">Other unsecured loans [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">24.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_OtherUnsecuredLoansMember', window );">Other unsecured loans [member] | Later than three years and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">11.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_OtherUnsecuredLoansMember', window );">Other unsecured loans [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">33.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_FinancialLeasingMember', window );">Financial leasing [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">33.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_FinancialLeasingMember', window );">Financial leasing [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">8.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_FinancialLeasingMember', window );">Financial leasing [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="nump">24.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_FinancialLeasingMember', window );">Financial leasing [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_FinancialLeasingMember', window );">Financial leasing [member] | Later than three years and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_FinancialLeasingMember', window );">Financial leasing [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Borrowings</a></td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_SecuredBankLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=abev_SecuredBankLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_UnsecuredBankLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=abev_UnsecuredBankLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_DebenturesAndUnsecuredBondIssuesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=abev_DebenturesAndUnsecuredBondIssuesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_OtherUnsecuredLoansMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=abev_OtherUnsecuredLoansMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_FinancialLeasingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=abev_FinancialLeasingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>142
<FILENAME>R126.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6800447120">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 23 - Employee Benefits (Details Textual) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans', window );">Post-employment benefit expense, defined contribution plans</a></td>
<td class="nump">R$ 18.9<span></span>
</td>
<td class="nump">R$ 25.3<span></span>
</td>
<td class="nump">R$ 19.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">1,778.9<span></span>
</td>
<td class="nump">1,488.2<span></span>
</td>
<td class="nump">1,621.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset', window );">Return on plan assets, net defined benefit liability (asset)</a></td>
<td class="nump">208.5<span></span>
</td>
<td class="nump">544.5<span></span>
</td>
<td class="nump">86.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AmountUpToTheAssetCeilingNotExceedingThePresentValueOfFutureBenefitsInADefinedBenefitPlan', window );">Amount up to the asset ceiling not exceeding the present value of future benefits in a defined benefit plan</a></td>
<td class="nump">58.4<span></span>
</td>
<td class="nump">33.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan', window );">Estimate of contributions expected to be paid to plan for next annual reporting period</a></td>
<td class="nump">229.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitPlansAxis=abev_TwoHealthCarePlansFromFundacaoZerrennerMember', window );">Two health care plans from Fundacao Zerrenner [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Defined benefit obligation, at present value</a></td>
<td class="nump">R$ 762.0<span></span>
</td>
<td class="nump">R$ 683.4<span></span>
</td>
<td class="nump">R$ 494.1<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AmountUpToTheAssetCeilingNotExceedingThePresentValueOfFutureBenefitsInADefinedBenefitPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount up to the asset ceiling not exceeding the present value of future benefits in a defined benefit plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AmountUpToTheAssetCeilingNotExceedingThePresentValueOfFutureBenefitsInADefinedBenefitPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitObligationAtPresentValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The present value, without deducting any plan assets, of expected future payments required to settle the obligation resulting from employee service in the current and prior periods. [Refer: Plan assets, at fair value]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 57<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_57_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitObligationAtPresentValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimate of the expected contributions to be made to a defined benefit plan for the next annual reporting period. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 147<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_147_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 148<br> -Subparagraph d<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_148_d_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EstimateOfContributionsExpectedToBePaidToPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of post-employment benefit expense relating to defined contribution plans. Defined contribution plans are post-employment benefit plans under which an entity pays fixed contributions into a separate entity (a fund) and will have no legal or constructive obligation to pay further contributions if the fund does not hold sufficient assets to pay all employee benefits relating to employee service in the current and prior periods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 53<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_53&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PostemploymentBenefitExpenseDefinedContributionPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from the return on plan assets. The return on plans assets is interest, dividends and other revenue derived from the plan assets, together with realised and unrealised gains or losses on the plan assets, less any costs of managing plan assets and less any tax payable by the plan itself, other than tax included in the actuarial assumptions used to measure the present value of the defined benefit obligation. [Refer: Plan assets [member]; Net defined benefit liability (asset); Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitPlansAxis=abev_TwoHealthCarePlansFromFundacaoZerrennerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitPlansAxis=abev_TwoHealthCarePlansFromFundacaoZerrennerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
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<SEQUENCE>143
<FILENAME>R127.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
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<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6811590912">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 23 - Employee Benefits - Net Liability for Defined Benefit Plans (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DefinedBenefitObligationFundedPortionAtPresentValue', window );">Present value of funded obligations</a></td>
<td class="num">R$ (5,027.7)<span></span>
</td>
<td class="num">R$ (4,592.1)<span></span>
</td>
<td class="num">R$ (4,646.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PlanAssetsAtFairValue', window );">Fair value of plan assets</a></td>
<td class="nump">4,006.2<span></span>
</td>
<td class="nump">3,845.2<span></span>
</td>
<td class="nump">3,781.4<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_SurplusDeficitInPlan', window );">Present value of net obligations</a></td>
<td class="num">(1,021.5)<span></span>
</td>
<td class="num">(746.9)<span></span>
</td>
<td class="num">(865.0)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DefinedBenefitObligationUnfundedPortionAtPresentValue', window );">Present value of unfunded obligations</a></td>
<td class="num">(757.4)<span></span>
</td>
<td class="num">(741.3)<span></span>
</td>
<td class="num">(756.6)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DefinedBenefitObligationAtPresentValue', window );">Present value of net obligations, net</a></td>
<td class="num">(1,778.9)<span></span>
</td>
<td class="num">(1,488.2)<span></span>
</td>
<td class="num">(1,621.6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AssetCeiling', window );">Asset ceiling</a></td>
<td class="num">(368.4)<span></span>
</td>
<td class="num">(532.2)<span></span>
</td>
<td class="num">(534.5)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RecognisedLiabilitiesDefinedBenefitPlan', window );">Net liability</a></td>
<td class="num">(2,147.3)<span></span>
</td>
<td class="num">(2,020.4)<span></span>
</td>
<td class="num">(2,156.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherLongTermEmployeeBenefitLiabilities', window );">Other long term employee benefits</a></td>
<td class="num">(105.0)<span></span>
</td>
<td class="num">(83.8)<span></span>
</td>
<td class="num">(57.2)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total employee benefits</a></td>
<td class="num">(2,252.3)<span></span>
</td>
<td class="num">(2,104.2)<span></span>
</td>
<td class="num">(2,213.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Employee Benefits Amount - (Liabilities)/Assets</a></td>
<td class="num">(2,252.3)<span></span>
</td>
<td class="num">(2,104.2)<span></span>
</td>
<td class="num">(2,213.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfAssetsAxis=abev_EmployeeBenefitsAssetsMember', window );">Employee benefits assets [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total employee benefits</a></td>
<td class="nump">58.4<span></span>
</td>
<td class="nump">33.5<span></span>
</td>
<td class="nump">8.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Employee Benefits Amount - (Liabilities)/Assets</a></td>
<td class="nump">58.4<span></span>
</td>
<td class="nump">33.5<span></span>
</td>
<td class="nump">8.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_EmployeeBenefitLiabilitiesMember', window );">Employee benefit liabilities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Total employee benefits</a></td>
<td class="num">(2,310.7)<span></span>
</td>
<td class="num">(2,137.7)<span></span>
</td>
<td class="num">(2,221.9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Employee Benefits Amount - (Liabilities)/Assets</a></td>
<td class="num">R$ (2,310.7)<span></span>
</td>
<td class="num">R$ (2,137.7)<span></span>
</td>
<td class="num">R$ (2,221.9)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AssetCeiling">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The present value of benefits available from refunds in the defined benefit plan or reductions in future contributions to the defined benefit plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AssetCeiling</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DefinedBenefitObligationFundedPortionAtPresentValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The present value of the funded portion, without deducting any plan assets, of expected future payments required to settle the obligation resulting from employee service in the current and prior periods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DefinedBenefitObligationFundedPortionAtPresentValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DefinedBenefitObligationUnfundedPortionAtPresentValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The present value unfunded portion, without deducting any plan assets, of expected future payments required to settle the obligation resulting from employee service in the current and prior periods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DefinedBenefitObligationUnfundedPortionAtPresentValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_OtherLongTermEmployeeBenefitLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The other long term employee benefit liabilities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_OtherLongTermEmployeeBenefitLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DefinedBenefitObligationAtPresentValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The present value, without deducting any plan assets, of expected future payments required to settle the obligation resulting from employee service in the current and prior periods. [Refer: Plan assets, at fair value]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 57<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_57_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DefinedBenefitObligationAtPresentValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deficit or surplus in a defined benefit plan, adjusted for any effect of limiting a net defined benefit asset to the asset ceiling. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 140<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilityAssetOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PlanAssetsAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of defined benefit plan assets. Plan assets comprise assets held by a long-term employee benefit fund and qualifying insurance policies. [Refer: At fair value [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 57<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_57_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PlanAssetsAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RecognisedLiabilitiesDefinedBenefitPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deficit in a defined benefit plan. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RecognisedLiabilitiesDefinedBenefitPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SurplusDeficitInPlan">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The present value of the defined benefit obligation, less the fair value of the plan assets (if any). [Refer: Plan assets [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 57<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_57_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SurplusDeficitInPlan</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfAssetsAxis=abev_EmployeeBenefitsAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfAssetsAxis=abev_EmployeeBenefitsAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfLiabilitiesAxis=abev_EmployeeBenefitLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfLiabilitiesAxis=abev_EmployeeBenefitLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6811377872">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 23 - Employee Benefits - Defined Benefit Obligation (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Balance</a></td>
<td class="nump">R$ 2,104.2<span></span>
</td>
<td class="nump">R$ 2,213.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset', window );">Service cost</a></td>
<td class="num">(38.2)<span></span>
</td>
<td class="num">(43.1)<span></span>
</td>
<td class="num">R$ (42.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset', window );">Gains and (losses) on settlements or reductions in benefits</a></td>
<td class="num">(4.2)<span></span>
</td>
<td class="num">(0.7)<span></span>
</td>
<td class="num">(1.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Balance</a></td>
<td class="nump">2,252.3<span></span>
</td>
<td class="nump">2,104.2<span></span>
</td>
<td class="nump">2,213.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PresentValueOfDefinedBenefitObligationMember', window );">Present value of defined benefit obligation [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Balance</a></td>
<td class="num">(5,333.4)<span></span>
</td>
<td class="num">(5,403.0)<span></span>
</td>
<td class="num">(4,808.0)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AcquisitionsThroughStockExchangeNetDefinedBenefitLiabilityAsset', window );">Acquisitions through exchange transaction of shareholdings</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(67.3)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset', window );">Service cost</a></td>
<td class="num">(38.2)<span></span>
</td>
<td class="num">(43.1)<span></span>
</td>
<td class="num">(42.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest cost</a></td>
<td class="num">(321.5)<span></span>
</td>
<td class="num">(320.5)<span></span>
</td>
<td class="num">(308.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset', window );">Gains and (losses) on settlements or reductions in benefits</a></td>
<td class="nump">3.9<span></span>
</td>
<td class="nump">2.2<span></span>
</td>
<td class="nump">1.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset', window );">Contributions by plan participants</a></td>
<td class="num">(4.1)<span></span>
</td>
<td class="num">(5.2)<span></span>
</td>
<td class="num">(5.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset', window );">Actuarial gains and (losses) - geographical assumptions</a></td>
<td class="nump">77.3<span></span>
</td>
<td class="num">(20.1)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset', window );">Actuarial gains and (losses) - financial assumptions</a></td>
<td class="num">(140.3)<span></span>
</td>
<td class="num">(321.1)<span></span>
</td>
<td class="nump">182.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset', window );">Experience adjustment</a></td>
<td class="num">(115.7)<span></span>
</td>
<td class="num">(182.8)<span></span>
</td>
<td class="num">(10.6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ReclassificationNetDefinedBenefitLiabilityAsset', window );">Reclassifications</a></td>
<td class="num">(7.5)<span></span>
</td>
<td class="nump">11.1<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Exchange differences</a></td>
<td class="num">(306.5)<span></span>
</td>
<td class="nump">599.6<span></span>
</td>
<td class="num">(805.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset', window );">Benefits paid</a></td>
<td class="nump">400.9<span></span>
</td>
<td class="nump">416.8<span></span>
</td>
<td class="nump">392.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Balance</a></td>
<td class="num">R$ (5,785.1)<span></span>
</td>
<td class="num">R$ (5,333.4)<span></span>
</td>
<td class="num">R$ (5,403.0)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AcquisitionsThroughStockExchangeNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>he increase (decrease) in the net defined benefit liability (asset) resulting from acquisitions through stock exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AcquisitionsThroughStockExchangeNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ReclassificationNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from changes due to reclassification.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ReclassificationNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in a net defined benefit liability (asset) resulting from actuarial gains (losses) arising from changes in demographic assumptions that result in remeasurements of the net defined benefit liability (asset). Demographic assumptions deal with matters such as: (a) mortality; (b) rates of employee turnover, disability and early retirement; (c) the proportion of plan members with dependants who will be eligible for benefits; (d) the proportion of plan members who will select each form of payment option available under the plan terms; and (e) claim rates under medical plans. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph c<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_c_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialGainsLossesArisingFromChangesInDemographicAssumptionsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in a net defined benefit liability (asset) resulting from actuarial gains (losses) arising from changes in financial assumptions that result in remeasurements of the net defined benefit liability (asset). Financial assumptions deal with items such as: (a) the discount rate; (b) benefit levels, excluding any cost of the benefits to be met by employees, and future salary; (c) in the case of medical benefits, future medical costs, including claim handling costs (ie the costs that will be incurred in processing and resolving claims, including legal and adjuster's fees); and (d) taxes payable by the plan on contributions relating to service before the reporting date or on benefits resulting from that service. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph c<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_c_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in a net defined benefit liability (asset) resulting from actuarial gains (losses) arising from experience adjustments that result in remeasurements of the net defined benefit liability (asset). Experience adjustments deal with the effects of differences between the previous actuarial assumptions and what has actually occurred. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialGainsLossesArisingFromExperienceAdjustmentsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from contributions to a defined benefit plan by plan participants. [Refer: Net defined benefit liability (asset); Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from employee service in the current period. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from settlements. Settlements are transactions that eliminate all further legal or constructive obligations for part or all of the benefits provided under a defined benefit plan, other than a payment of benefits to, or on behalf of, employees that is set out in the terms of the plan and included in the actuarial assumptions. [Refer: Net defined benefit liability (asset); Defined benefit plans [member]; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from changes in foreign exchange rates. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from the passage of time. [Refer: Interest expense; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deficit or surplus in a defined benefit plan, adjusted for any effect of limiting a net defined benefit asset to the asset ceiling. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 140<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilityAssetOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from payments from the plan. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_g&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PresentValueOfDefinedBenefitObligationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PresentValueOfDefinedBenefitObligationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>145
<FILENAME>R129.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802593072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 23 - Employee Benefits - Plan Assets (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Balance</a></td>
<td class="nump">R$ 2,104.2<span></span>
</td>
<td class="nump">R$ 2,213.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AdiministrativeCostsNetDefinedBenefitLiabilityAsset', window );">Administrative costs</a></td>
<td class="nump">3.4<span></span>
</td>
<td class="nump">3.7<span></span>
</td>
<td class="nump">R$ 3.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset', window );">Expected Return excluding interest income</a></td>
<td class="nump">208.5<span></span>
</td>
<td class="nump">544.5<span></span>
</td>
<td class="nump">86.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Balance</a></td>
<td class="nump">2,252.3<span></span>
</td>
<td class="nump">2,104.2<span></span>
</td>
<td class="nump">2,213.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PlanAssetsMember', window );">Plan assets [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Balance</a></td>
<td class="nump">3,845.2<span></span>
</td>
<td class="nump">3,781.4<span></span>
</td>
<td class="nump">3,550.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest Income</a></td>
<td class="nump">273.3<span></span>
</td>
<td class="nump">274.7<span></span>
</td>
<td class="nump">259.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AdiministrativeCostsNetDefinedBenefitLiabilityAsset', window );">Administrative costs</a></td>
<td class="num">(3.4)<span></span>
</td>
<td class="num">(3.7)<span></span>
</td>
<td class="num">(3.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset', window );">Expected Return excluding interest income</a></td>
<td class="num">(64.8)<span></span>
</td>
<td class="nump">269.8<span></span>
</td>
<td class="num">(173.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset', window );">Acquisition through business combination</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">73.5<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset', window );">Contributions by employer</a></td>
<td class="nump">183.2<span></span>
</td>
<td class="nump">175.9<span></span>
</td>
<td class="nump">107.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset', window );">Contributions by plan participants</a></td>
<td class="nump">4.5<span></span>
</td>
<td class="nump">5.6<span></span>
</td>
<td class="nump">5.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Exchange differences</a></td>
<td class="nump">166.8<span></span>
</td>
<td class="num">(315.3)<span></span>
</td>
<td class="nump">428.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset', window );">Benefits paid excluding costs of administration</a></td>
<td class="num">(398.6)<span></span>
</td>
<td class="num">(416.7)<span></span>
</td>
<td class="num">(392.9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Balance</a></td>
<td class="nump">R$ 4,006.2<span></span>
</td>
<td class="nump">R$ 3,845.2<span></span>
</td>
<td class="nump">R$ 3,781.4<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AdiministrativeCostsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from administrative costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AdiministrativeCostsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in net defined benefit liability (asset) resulting from contributions to a defined benefit plan by the employer. [Refer: Net defined benefit liability (asset); Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContributionsToPlanByEmployerNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from contributions to a defined benefit plan by plan participants. [Refer: Net defined benefit liability (asset); Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ContributionsToPlanByPlanParticipantsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from business combinations and disposals. [Refer: Business combinations [member]; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph h<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_h&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughBusinessCombinationsAndDisposalsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from changes in foreign exchange rates. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from the passage of time. [Refer: Interest expense; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deficit or surplus in a defined benefit plan, adjusted for any effect of limiting a net defined benefit asset to the asset ceiling. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 140<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilityAssetOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from payments from the plan. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph g<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_g&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PaymentsFromPlanNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from the return on plan assets. The return on plans assets is interest, dividends and other revenue derived from the plan assets, together with realised and unrealised gains or losses on the plan assets, less any costs of managing plan assets and less any tax payable by the plan itself, other than tax included in the actuarial assumptions used to measure the present value of the defined benefit obligation. [Refer: Plan assets [member]; Net defined benefit liability (asset); Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph c<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_c_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PlanAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_PlanAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>146
<FILENAME>R130.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6810303072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 23 - Employee Benefits - Asset Ceiling (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Balance</a></td>
<td class="nump">R$ 2,104.2<span></span>
</td>
<td class="nump">R$ 2,213.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Balance</a></td>
<td class="nump">2,252.3<span></span>
</td>
<td class="nump">2,104.2<span></span>
</td>
<td class="nump">R$ 2,213.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_EffectOfAssetCeilingMember', window );">Effect of asset ceiling [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Balance</a></td>
<td class="nump">33.5<span></span>
</td>
<td class="nump">8.6<span></span>
</td>
<td class="nump">12.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AcquisitionsThroughStockExchangeNetDefinedBenefitLiabilityAsset', window );">Acquisitions through exchange transaction of shareholdings</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">10.4<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset', window );">Interest Income</a></td>
<td class="nump">2.8<span></span>
</td>
<td class="nump">1.3<span></span>
</td>
<td class="nump">1.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling', window );">Change in asset ceiling excluding amounts included in interest income/(expenses)</a></td>
<td class="nump">8.8<span></span>
</td>
<td class="nump">15.8<span></span>
</td>
<td class="num">(5.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset', window );">Exchange differences</a></td>
<td class="nump">0.9<span></span>
</td>
<td class="num">(2.6)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset', window );">Others</a></td>
<td class="nump">12.4<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans', window );">Balance</a></td>
<td class="nump">R$ 58.4<span></span>
</td>
<td class="nump">R$ 33.5<span></span>
</td>
<td class="nump">R$ 8.6<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AcquisitionsThroughStockExchangeNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>he increase (decrease) in the net defined benefit liability (asset) resulting from acquisitions through stock exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AcquisitionsThroughStockExchangeNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from the gain (loss) on changes in the effect of limiting a net defined benefit asset to the asset ceiling, excluding amounts included in interest income or expense. [Refer: Interest income; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph c<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_c_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainLossOnChangesInEffectOfLimitingNetDefinedBenefitAssetToAssetCeiling</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from changes in foreign exchange rates. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from changes that the entity does not separately disclose in the same statement or note. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughOtherChangesNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from the passage of time. [Refer: Interest expense; Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LiabilityAssetOfDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of deficit or surplus in a defined benefit plan, adjusted for any effect of limiting a net defined benefit asset to the asset ceiling. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 140<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_140_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LiabilityAssetOfDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_EffectOfAssetCeilingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=ifrs-full_EffectOfAssetCeilingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>147
<FILENAME>R131.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6809218512">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 23 - Employee Benefits - Defined Benefit Plans Recognized in the Income Statement (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset', window );">Service cost</a></td>
<td class="num">R$ (38.2)<span></span>
</td>
<td class="num">R$ (43.1)<span></span>
</td>
<td class="num">R$ (42.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AdiministrativeCostsNetDefinedBenefitLiabilityAsset', window );">Administrative costs</a></td>
<td class="num">(3.4)<span></span>
</td>
<td class="num">(3.7)<span></span>
</td>
<td class="num">(3.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset', window );">(Gains) losses on settlements and curtailments</a></td>
<td class="nump">4.2<span></span>
</td>
<td class="nump">0.7<span></span>
</td>
<td class="nump">1.1<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInNetDefinedBenefitLiabilityAsset', window );">Income from operations</a></td>
<td class="num">(37.4)<span></span>
</td>
<td class="num">(46.1)<span></span>
</td>
<td class="num">(44.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DefinedBenefitPlansRecognizedFinancialCosts', window );">Financial cost</a></td>
<td class="num">(101.3)<span></span>
</td>
<td class="num">(105.6)<span></span>
</td>
<td class="num">(97.6)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans', window );">Total expense for employee benefits</a></td>
<td class="num">R$ (138.7)<span></span>
</td>
<td class="num">R$ (151.7)<span></span>
</td>
<td class="num">R$ (142.3)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AdiministrativeCostsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from administrative costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AdiministrativeCostsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DefinedBenefitPlansRecognizedFinancialCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Financial costs of the net interest on pension plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DefinedBenefitPlansRecognizedFinancialCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset) resulting from employee service in the current period. [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The decrease (increase) in the net defined benefit liability (asset) resulting from settlements. Settlements are transactions that eliminate all further legal or constructive obligations for part or all of the benefits provided under a defined benefit plan, other than a payment of benefits to, or on behalf of, employees that is set out in the terms of the plan and included in the actuarial assumptions. [Refer: Net defined benefit liability (asset); Defined benefit plans [member]; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInNetDefinedBenefitLiabilityAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in the net defined benefit liability (asset). [Refer: Net defined benefit liability (asset)]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 141<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_141&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInNetDefinedBenefitLiabilityAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of post-employment benefit expense relating to defined benefit plans. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 5<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_5&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6800695360">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 23 - Employee Benefits - Employee Benefit Revenue/(Expenses) Allocation (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans', window );">Employee Benefit Revenue/(Expenses) Allocation</a></td>
<td class="num">R$ (138.7)<span></span>
</td>
<td class="num">R$ (151.7)<span></span>
</td>
<td class="num">R$ (142.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_EmployeeBenefitRevenueexpensesAllocatedToCostOfSalesMember', window );">Employee benefit revenue (expenses) allocated to cost of sales [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans', window );">Employee Benefit Revenue/(Expenses) Allocation</a></td>
<td class="num">(22.3)<span></span>
</td>
<td class="num">(24.5)<span></span>
</td>
<td class="num">(19.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_EmployeeBenefitRevenueExpensesAllocatedToSalesAndMarketingExpensesMember', window );">Employee benefit revenue (expenses) allocated to sales and marketing expenses [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans', window );">Employee Benefit Revenue/(Expenses) Allocation</a></td>
<td class="num">(5.0)<span></span>
</td>
<td class="num">(9.5)<span></span>
</td>
<td class="num">(7.9)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_EmployeeBenefitRevenueExpensesAllocatedToAdministrativeExpensesMember', window );">Employee benefit revenue (expenses) allocated to administrative expenses [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans', window );">Employee Benefit Revenue/(Expenses) Allocation</a></td>
<td class="num">(10.1)<span></span>
</td>
<td class="num">(10.2)<span></span>
</td>
<td class="num">(17.5)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_EmployeeBenefitRevenueExpensesAllocatedToFinancialExpensesMember', window );">Employee benefit revenue (expenses) allocated to financial expenses [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans', window );">Employee Benefit Revenue/(Expenses) Allocation</a></td>
<td class="num">(101.3)<span></span>
</td>
<td class="num">(105.6)<span></span>
</td>
<td class="num">(97.6)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_EmployeeBenefitRevenueExpensesAllocatedToExceptionalItemsMember', window );">Employee benefit revenue (expenses) allocated to exceptional items [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans', window );">Employee Benefit Revenue/(Expenses) Allocation</a></td>
<td class="text"> <span></span>
</td>
<td class="num">R$ (1.9)<span></span>
</td>
<td class="text"> <span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of post-employment benefit expense relating to defined benefit plans. [Refer: Defined benefit plans [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 5<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_5&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_EmployeeBenefitRevenueExpensesAllocatedToFinancialExpensesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_EmployeeBenefitRevenueExpensesAllocatedToExceptionalItemsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6809892800">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Note 23 - Employee Benefits - Actuarial Assumptions (Details)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfDiscountRates', window );">Discount rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">3.60%<span></span>
</td>
<td class="nump">3.90%<span></span>
</td>
<td class="nump">4.10%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation', window );">Inflation</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases', window );">Future salary increases</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1.00%<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases', window );">Future pension increases</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates', window );">Medical cost trend rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">4.50%<span></span>
</td>
<td class="nump">3.80%<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ActuarialAssumptionOfLifeExpectancyOfAMaleAfter65YearsOfAge', window );">Life expectation for an over 65 years old male</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">83<span></span>
</td>
<td class="nump">80<span></span>
</td>
<td class="nump">85<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ActuarialAssumptionOfLifeExpectancyOfAFemaleAfter65YearsOfAge', window );">Life expectation for an over 65 years old female</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">86<span></span>
</td>
<td class="nump">83<span></span>
</td>
<td class="nump">88<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfDiscountRates', window );">Discount rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">10.60%<span></span>
</td>
<td class="nump">10.50%<span></span>
</td>
<td class="nump">12.10%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation', window );">Inflation</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="nump">5.20%<span></span>
</td>
<td class="nump">5.20%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases', window );">Future salary increases</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">8.70%<span></span>
</td>
<td class="nump">8.50%<span></span>
</td>
<td class="nump">8.80%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases', window );">Future pension increases</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">4.30%<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates', window );">Medical cost trend rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">7.90%<span></span>
</td>
<td class="nump">8.20%<span></span>
</td>
<td class="nump">8.20%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ActuarialAssumptionOfDentalClaimsCostTrendRates', window );">Dental claims trend rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ActuarialAssumptionOfLifeExpectancyOfAMaleAfter65YearsOfAge', window );">Life expectation for an over 65 years old male</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">87<span></span>
</td>
<td class="nump">86<span></span>
</td>
<td class="nump">70<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ActuarialAssumptionOfLifeExpectancyOfAFemaleAfter65YearsOfAge', window );">Life expectation for an over 65 years old female</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">89<span></span>
</td>
<td class="nump">89<span></span>
</td>
<td class="nump">71<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember', window );">Weighted average [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates', window );">Medical cost trend rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">7.90%<span></span>
</td>
<td class="nump">8.20%<span></span>
</td>
<td class="nump">8.20%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ActuarialAssumptionOfDentalClaimsCostTrendRates', window );">Dental claims trend rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">4.30%<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
<td class="nump">4.50%<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Includes assumptions in Latin America - North, Latin America - South and Canada.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ActuarialAssumptionOfDentalClaimsCostTrendRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Dental cost trend rate used as significant actuarial assumption to determine the present value of a defined benefit obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ActuarialAssumptionOfDentalClaimsCostTrendRates</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ActuarialAssumptionOfLifeExpectancyOfAFemaleAfter65YearsOfAge">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The life expectancy after 65 years of age of a female used as a significant actuarial assumption to determine the present value of a defined benefit obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ActuarialAssumptionOfLifeExpectancyOfAFemaleAfter65YearsOfAge</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ActuarialAssumptionOfLifeExpectancyOfAMaleAfter65YearsOfAge">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The life expectancy after 65 years of age of a male used as a significant actuarial assumption to determine the present value of a defined benefit obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ActuarialAssumptionOfLifeExpectancyOfAMaleAfter65YearsOfAge</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionOfDiscountRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The discount rate used as the significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit obligation, at present value; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 144<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_144&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionOfDiscountRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expected rate of inflation that is used as a significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit plans [member]; Defined benefit obligation, at present value; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 144<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_144&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionOfExpectedRatesOfInflation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expected rate of increases in pension that is used as a significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit plans [member]; Defined benefit obligation, at present value; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 144<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_144&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expected rate of salary increases used as a significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit plans [member]; Defined benefit obligation, at present value; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 144<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_144&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Medical cost trend rate used as significant actuarial assumption to determine the present value of a defined benefit obligation. [Refer: Defined benefit obligation, at present value; Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 144<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_144&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td>na</td>
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<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_WeightedAverageMember</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>150
<FILENAME>R134.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6812132240">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 23 - Employee Benefits - Weighted Principal Assumptions (Details)<br> R$ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>BRL (R$) </div>
<div>Rate</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>BRL (R$)</div>
</th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember', window );">Actuarial assumption of medical cost trend rates [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PercentageOfReasonablyPossibleIncreaseDecreaseInActuarialAssumption', window );">Change in assumption, percentage (Rate) | Rate</a></td>
<td class="nump">1.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption', window );">Increase in assumption</a></td>
<td class="num">R$ (119.7)<span></span>
</td>
<td class="num">R$ (104.7)<span></span>
</td>
<td class="num">R$ (77.5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption', window );">Decrease in assumption</a></td>
<td class="nump">R$ 102.3<span></span>
</td>
<td class="nump">90.2<span></span>
</td>
<td class="nump">67.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfDiscountRatesMember', window );">Actuarial assumption of discount rates [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PercentageOfReasonablyPossibleIncreaseDecreaseInActuarialAssumption', window );">Change in assumption, percentage (Rate) | Rate</a></td>
<td class="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption', window );">Increase in assumption</a></td>
<td class="nump">R$ 289.7<span></span>
</td>
<td class="nump">292.6<span></span>
</td>
<td class="nump">262.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption', window );">Decrease in assumption</a></td>
<td class="num">R$ (309.2)<span></span>
</td>
<td class="num">(311.5)<span></span>
</td>
<td class="num">(280.1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember', window );">Actuarial assumption of expected rates of salary increases [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PercentageOfReasonablyPossibleIncreaseDecreaseInActuarialAssumption', window );">Change in assumption, percentage (Rate) | Rate</a></td>
<td class="nump">0.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption', window );">Increase in assumption</a></td>
<td class="num">R$ (12.9)<span></span>
</td>
<td class="num">(16.6)<span></span>
</td>
<td class="num">(13.3)<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption', window );">Decrease in assumption</a></td>
<td class="nump">12.3<span></span>
</td>
<td class="nump">15.3<span></span>
</td>
<td class="nump">12.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfLifeExpectancyAfterRetirementMember', window );">Actuarial assumption of life expectancy after retirement [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption', window );">Increase in assumption</a></td>
<td class="num">(180.6)<span></span>
</td>
<td class="num">(175.9)<span></span>
</td>
<td class="num">(135.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption', window );">Decrease in assumption</a></td>
<td class="nump">R$ 176.5<span></span>
</td>
<td class="nump">R$ 172.9<span></span>
</td>
<td class="nump">R$ 131.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AmountOfReasonablyPossibleIncreaseInActuarialAssumption', window );">Change in assumption, year</a></td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AmountOfReasonablyPossibleIncreaseInActuarialAssumption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of reasonably possible increase in actuarial assumption.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AmountOfReasonablyPossibleIncreaseInActuarialAssumption</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PercentageOfReasonablyPossibleIncreaseDecreaseInActuarialAssumption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The reasonably possible percentage of the increase (decrease) in the actuarial assumption used to determine the present value of defined benefit obligation</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PercentageOfReasonablyPossibleIncreaseDecreaseInActuarialAssumption</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in a defined benefit obligation that would have been caused by a decrease in a significant actuarial assumption that was reasonably possible at the end of the reporting period. [Refer: Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 145<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_145_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleDecreaseInActuarialAssumption</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in a defined benefit obligation that would have been caused by an increase in a significant actuarial assumption that was reasonably possible at the end of the reporting period. [Refer: Actuarial assumptions [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 19<br> -IssueDate 2017-01-01<br> -Paragraph 145<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=19&amp;date=2017-03-01&amp;anchor=para_145_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseInDefinedBenefitObligationDueToReasonablyPossibleIncreaseInActuarialAssumption</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfDiscountRatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfDiscountRatesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ActuarialAssumptionsAxis=ifrs-full_ActuarialAssumptionOfLifeExpectancyAfterRetirementMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6808597200">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 23 - Employee Benefits - Plan Assets Components (Details)<br></strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsGovernmentBondsMember', window );">Plan assets, government bonds [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage, rated</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">41.00%<span></span>
</td>
<td class="nump">29.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage, unrated</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">41.00%<span></span>
</td>
<td class="nump">29.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsCorporateBondsMember', window );">Plan assets, corporate bonds [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage, rated</a></td>
<td class="nump">7.00%<span></span>
</td>
<td class="nump">13.00%<span></span>
</td>
<td class="nump">23.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage, unrated</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage</a></td>
<td class="nump">7.00%<span></span>
</td>
<td class="nump">13.00%<span></span>
</td>
<td class="nump">23.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsEquityInstrumentsMember', window );">Plan assets, equity instruments [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage, rated</a></td>
<td class="nump">14.00%<span></span>
</td>
<td class="nump">18.00%<span></span>
</td>
<td class="nump">15.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage, unrated</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage</a></td>
<td class="nump">14.00%<span></span>
</td>
<td class="nump">18.00%<span></span>
</td>
<td class="nump">15.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsPropertyMember', window );">Plan assets, property [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage, rated</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage, unrated</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsCashMember', window );">Plan assets, cash [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage, rated</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage, unrated</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">1.00%<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsOthersMember', window );">Plan assets, others [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage, rated</a></td>
<td class="nump">29.00%<span></span>
</td>
<td class="nump">27.00%<span></span>
</td>
<td class="nump">32.00%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage, unrated</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PlanAssetsOfDefinedBenefitPlanComponentPercentage', window );">Plan assets percentage</a></td>
<td class="nump">29.00%<span></span>
</td>
<td class="nump">27.00%<span></span>
</td>
<td class="nump">32.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PlanAssetsOfDefinedBenefitPlanComponentPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The component percentage of the plan assets of a defined benefit plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PlanAssetsOfDefinedBenefitPlanComponentPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The component percentage of the rated plan assets of a defined benefit plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_RatedPlanAssetsOfDefinedBenefitPlanComponentPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The component percentage of the unrated plan assets of a defined benefit plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_UnratedPlanAssetsOfDefinedBenefitPlanComponentPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsGovernmentBondsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsGovernmentBondsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsCorporateBondsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsCorporateBondsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsEquityInstrumentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsEquityInstrumentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsPropertyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsPropertyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsCashMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsCashMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsOthersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NetDefinedBenefitLiabilityAssetAxis=abev_PlanAssetsOthersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>152
<FILENAME>R136.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6808278272">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 24 - Share-based Payments (Details Textual)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2016 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>BRL (R$)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>BRL (R$)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted', window );">Option life, share options granted</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement', window );">Weighted average exercise price of share options outstanding in share-based payment arrangement at end of period</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 15.27<span></span>
</td>
<td class="nump">R$ 13.87<span></span>
</td>
<td class="nump">R$ 12.36<span></span>
</td>
<td class="nump">R$ 10.07<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions', window );">Weighted average remaining contractual life of outstanding share options</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">6.4<span></span>
</td>
<td class="nump">5.96<span></span>
</td>
<td class="nump">6.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Number of share options outstanding in share-based payment arrangement at end of period</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">135,221,000<span></span>
</td>
<td class="nump">131,244,000<span></span>
</td>
<td class="nump">121,770,000<span></span>
</td>
<td class="nump">126,149,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NumberOfShareOptionsVestedInSharebasedPaymentArrangement', window );">Number of share options vested in share-based payment arrangement</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">40,150,000<span></span>
</td>
<td class="nump">52,780,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsInSharebasedPaymentArrangementExercisedDuringPeriodAtDateOfExercise', window );">Weighted average share price for share options in share-based payment arrangement exercised during period at date of exercise</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 18.87<span></span>
</td>
<td class="nump">R$ 18.41<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees', window );">Expense from share-based payment transactions with employees</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">236,900,000<span></span>
</td>
<td class="nump">189,300,000<span></span>
</td>
<td class="nump">R$ 209,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement', window );">Weighted average exercise price of share options outstanding in share-based payment arrangement at end of period</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.001<span></span>
</td>
<td class="nump">0.02<span></span>
</td>
<td class="nump">0.35<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement', window );">Weighted average exercise price of share options outstanding in share-based payment arrangement at end of period</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 26.09<span></span>
</td>
<td class="nump">R$ 28.32<span></span>
</td>
<td class="nump">R$ 26.57<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_GrantOneMember', window );">Grant one [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ProfitAllocationSharebasedPaymentsAllocationOptionOne', window );">Profit allocation, share-based payments, allocation option one</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">30.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ProfitAllocationSharebasedPaymentsAllocationOptionTwo', window );">Profit allocation, share-based payments, allocation option two</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ProfitAllocationSharebasedPaymentsAllocationOptionThree', window );">Profit allocation, share-based payments, allocation option three</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">60.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ProfitAllocationSharebasedPaymentsAllocationOptionFour', window );">Profit allocation, share-based payments, allocation option four</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">70.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ProfitAllocationSharebasedPaymentsAllocationOptionFive', window );">Profit allocation, share-based payments, allocation option five</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted', window );">Option life, share options granted</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_GrantTwoMember', window );">Grant two [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted', window );">Option life, share options granted</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_LotAMember', window );">Lot A [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted', window );">Option life, share options granted</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_LotBMember', window );">Lot B [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted', window );">Option life, share options granted</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">10<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_DeferredStockUnitsOfGrantOneMember', window );">Deferred stock units of Grant One [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NumberOfOtherNewEquityInstrumentsIntroducedInSharebasedPaymentArrangement', window );">Number of other new equity instruments introduced in share-based payment arrangement</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">794,000<span></span>
</td>
<td class="nump">7,329,000<span></span>
</td>
<td class="nump">2,692,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement', window );">Weighted average exercise price of other equity instruments granted in share-based payment arrangement</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 15,200,000<span></span>
</td>
<td class="nump">R$ 133,900,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CliffVestPeriod', window );">Cliff vest period</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Information based on weighted average plans granted, except for the expected dividends and risk-free interest rate.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CliffVestPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The period for an equity instrument other than options for the instrument to cliff vest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CliffVestPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NumberOfOtherNewEquityInstrumentsIntroducedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of other equity instruments (ie other than share options) introduced in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NumberOfOtherNewEquityInstrumentsIntroducedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NumberOfShareOptionsVestedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of share options vested in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NumberOfShareOptionsVestedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ProfitAllocationSharebasedPaymentsAllocationOptionFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fifth allocation option for profit sharing in share-based payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ProfitAllocationSharebasedPaymentsAllocationOptionFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ProfitAllocationSharebasedPaymentsAllocationOptionFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fourth allocation option for profit sharing in share-based payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ProfitAllocationSharebasedPaymentsAllocationOptionFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ProfitAllocationSharebasedPaymentsAllocationOptionOne">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The first allocation option for profit sharing in share-based payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ProfitAllocationSharebasedPaymentsAllocationOptionOne</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ProfitAllocationSharebasedPaymentsAllocationOptionThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The third allocation option for profit sharing in share-based payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ProfitAllocationSharebasedPaymentsAllocationOptionThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ProfitAllocationSharebasedPaymentsAllocationOptionTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The second allocation option for profit sharing in share-based payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ProfitAllocationSharebasedPaymentsAllocationOptionTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The option life of share options granted.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfOptionLifeShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense from share-based payment transactions with employees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpenseFromSharebasedPaymentTransactionsWithEmployees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfOutstandingShareOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of share options outstanding in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_vi&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfOutstandingShareOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of other equity instruments (ie other than share options) granted in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfOtherEquityInstrumentsGrantedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsInSharebasedPaymentArrangementExercisedDuringPeriodAtDateOfExercise">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average share price at the date of exercise for share options that are exercised in a share-based payment arrangement. [Refer: Share-based payment arrangements [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsInSharebasedPaymentArrangementExercisedDuringPeriodAtDateOfExercise</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options outstanding in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_vi&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average remaining contractual life of outstanding share options. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageRemainingContractualLifeOfOutstandingShareOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_GrantOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_GrantOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_GrantTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_GrantTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_LotAMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_LotAMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_LotBMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_LotBMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_DeferredStockUnitsOfGrantOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_DeferredStockUnitsOfGrantOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>153
<FILENAME>R137.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802061408">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 24 - Share-based Payments - Weighted Average Fair Value of the Options and Assumptions (Details) - BRL (R$)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted', window );">Fair value of options granted</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 6.51<span></span>
</td>
<td class="nump">R$ 6.21<span></span>
</td>
<td class="nump">R$ 7.84<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageSharePriceShareOptionsGranted', window );">Share price</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">19.80<span></span>
</td>
<td class="nump">17.18<span></span>
</td>
<td class="nump">18.41<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExercisePriceShareOptionsGranted', window );">Exercise price</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 19.80<span></span>
</td>
<td class="nump">R$ 17.18<span></span>
</td>
<td class="nump">R$ 18.41<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted', window );">Expected volatility</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">26.70%<span></span>
</td>
<td class="nump">27.00%<span></span>
</td>
<td class="nump">27.50%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted', window );">Vesting year</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted', window );">Expected dividends</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5.00%<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted', window );">Risk-free interest rate</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1],[2]</sup></td>
<td class="nump">10.10%<span></span>
</td>
<td class="nump">12.40%<span></span>
</td>
<td class="nump">15.90%<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Information based on weighted average plans granted, except for the expected dividends and risk-free interest rate.</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">The percentages include the grants of stock options and ADR's during the period, in which the risk-free interest rate of ADR's are calculated in U.S. dollar.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expected volatility of the share price used to calculate the fair value of the share options granted. Expected volatility is a measure of the amount by which a price is expected to fluctuate during a period. The measure of volatility used in option pricing models is the annualised standard deviation of the continuously compounded rates of return on the share over a period of time.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfExpectedVolatilityShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfOptionLifeShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The option life of share options granted.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfOptionLifeShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The implied yield currently available on zero-coupon government issues of the country in whose currency the exercise price for share options granted is expressed, with a remaining term equal to the expected term of the option being valued (based on the option's remaining contractual life and taking into account the effects of expected early exercise). [Refer: Government [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DescriptionOfRiskFreeInterestRateShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExercisePriceShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exercise price of share options granted.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExercisePriceShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of an expected dividend used to calculate the fair value of share options granted.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExpectedDividendAsPercentageShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value of share options granted during the period at the measurement date. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageFairValueAtMeasurementDateShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageSharePriceShareOptionsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average share price used as input to the option pricing model to calculate the fair value of share options granted. [Refer: Option pricing model [member]; Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageSharePriceShareOptionsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>154
<FILENAME>R138.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802160624">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 24 - Share-based Payments - Outstanding Options (Details)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Options outstanding at January 1st</a></td>
<td class="nump">131,244,000<span></span>
</td>
<td class="nump">121,770,000<span></span>
</td>
<td class="nump">126,149,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement', window );">Options issued during the period</a></td>
<td class="nump">20,435,000<span></span>
</td>
<td class="nump">24,806,000<span></span>
</td>
<td class="nump">16,568,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement', window );">Options exercised during the period</a></td>
<td class="num">(13,548,000)<span></span>
</td>
<td class="num">(11,613,000)<span></span>
</td>
<td class="num">(19,975,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement', window );">Options forfeited during the period</a></td>
<td class="num">(2,910,000)<span></span>
</td>
<td class="num">(3,719,000)<span></span>
</td>
<td class="num">(972,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOutstandingShareOptions', window );">Options outstanding at ended year</a></td>
<td class="nump">135,221,000<span></span>
</td>
<td class="nump">131,244,000<span></span>
</td>
<td class="nump">121,770,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfOutstandingShareOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of share options outstanding in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph d<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_d&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_vi&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfOutstandingShareOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of share options exercised in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of share options expired in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause v<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_v&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsExpiredInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of share options granted in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>155
<FILENAME>R139.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6826166080">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 24 - Share-based Payments - Weighted Average Exercise Price of Options (Details) - BRL (R$)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement', window );">Options outstanding at January 1 st, weighted average exercise price</a></td>
<td class="nump">R$ 13.87<span></span>
</td>
<td class="nump">R$ 12.36<span></span>
</td>
<td class="nump">R$ 10.07<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement', window );">Options issued during the period, weighted average exercise price</a></td>
<td class="nump">19.82<span></span>
</td>
<td class="nump">17.18<span></span>
</td>
<td class="nump">18.42<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement', window );">Options forfeited during the period, weighted average exercise price</a></td>
<td class="nump">17.88<span></span>
</td>
<td class="nump">12.83<span></span>
</td>
<td class="nump">20.35<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement', window );">Options exercised during the period, weighted average exercise price</a></td>
<td class="nump">5.81<span></span>
</td>
<td class="nump">2.52<span></span>
</td>
<td class="nump">5.05<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement', window );">Options outstanding at ended period, weighted average exercise price</a></td>
<td class="nump">15.27<span></span>
</td>
<td class="nump">13.87<span></span>
</td>
<td class="nump">12.36<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement', window );">Options exercisable at ended period, weighted average exercise price</a></td>
<td class="nump">R$ 3.78<span></span>
</td>
<td class="nump">R$ 3.66<span></span>
</td>
<td class="nump">R$ 3.29<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options exercisable in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_vii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisableInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options exercised in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsExercisedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options forfeited in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsForfeitedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options granted in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause ii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_ii&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsGrantedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average exercise price of share options outstanding in a share-based payment arrangement. [Refer: Weighted average [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -Subparagraph b<br> -Clause vi<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45_b_vi&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_WeightedAverageExercisePriceOfShareOptionsOutstandingInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>156
<FILENAME>R140.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6803150192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 24 - Share-based Payments - Deferred Shares (Details) - Deferred stock units of Grant One [member]<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Deferred shares outstanding at January 1st</a></td>
<td class="nump">19,260,000<span></span>
</td>
<td class="nump">19,056,000<span></span>
</td>
<td class="nump">17,490,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NumberOfOtherNewEquityInstrumentsIntroducedInSharebasedPaymentArrangement', window );">New deferred shares during the period</a></td>
<td class="nump">794,000<span></span>
</td>
<td class="nump">7,329,000<span></span>
</td>
<td class="nump">2,692,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted', window );">Deferred shares granted during the period</a></td>
<td class="num">(2,874,000)<span></span>
</td>
<td class="num">(6,118,000)<span></span>
</td>
<td class="num">(804,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement', window );">Deferred shares forfeited during the period</a></td>
<td class="num">(880,000)<span></span>
</td>
<td class="num">(1,007,000)<span></span>
</td>
<td class="num">(322,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement', window );">Deferred shares outstanding at ended year</a></td>
<td class="nump">16,300,000<span></span>
</td>
<td class="nump">19,260,000<span></span>
</td>
<td class="nump">19,056,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NumberOfOtherNewEquityInstrumentsIntroducedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of other equity instruments (ie other than share options) introduced in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NumberOfOtherNewEquityInstrumentsIntroducedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of other equity instruments (ie other than share options) granted in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 47<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_47_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfInstrumentsOtherEquityInstrumentsGranted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of other equity instruments (ie other than share options) forfeited in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfOtherEquityInstrumentsForfeitedInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of other equity instruments (ie other than share options) outstanding in a share-based payment arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IFRS<br> -Number 2<br> -IssueDate 2017-01-01<br> -Paragraph 45<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=2&amp;date=2017-03-01&amp;anchor=para_45&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NumberOfOtherEquityInstrumentsOutstandingInSharebasedPaymentArrangement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_DeferredStockUnitsOfGrantOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfSharebasedPaymentArrangementsAxis=abev_DeferredStockUnitsOfGrantOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>157
<FILENAME>R141.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801690752">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 25 - Trade Payables - Components of Trade Payables (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentPayablesToTradeSuppliers', window );">Trade payables, noncurrent</a></td>
<td class="nump">R$ 175.1<span></span>
</td>
<td class="nump">R$ 237.8<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NoncurrentPayables', window );">Non-current</a></td>
<td class="nump">175.1<span></span>
</td>
<td class="nump">237.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers', window );">Trade payables, current</a></td>
<td class="nump">10,418.4<span></span>
</td>
<td class="nump">9,793.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties', window );">Related Parties, current</a></td>
<td class="nump">1,435.6<span></span>
</td>
<td class="nump">1,075.8<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherCurrentPayables', window );">Current</a></td>
<td class="nump">11,854.0<span></span>
</td>
<td class="nump">10,868.8<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TradeAndOtherPayables', window );">Total</a></td>
<td class="nump">R$ 12,029.1<span></span>
</td>
<td class="nump">R$ 11,106.6<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of non-current trade payables and non-current other payables. [Refer: Other non-current payables; Non-current trade payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph k<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NoncurrentPayablesToTradeSuppliers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-current amount of payment due to suppliers for goods and services used in the entity's business. [Refer: Trade payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NoncurrentPayablesToTradeSuppliers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current trade payables and current other payables. [Refer: Current trade payables; Other current payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph k<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of current payables due to related parties. [Refer: Related parties [member]; Payables to related parties]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayablesToRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current amount of payment due to suppliers for goods and services used in entity's business. [Refer: Current liabilities; Trade payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 78<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_78&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 70<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_70&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherCurrentPayablesToTradeSuppliers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TradeAndOtherPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of trade payables and other payables. [Refer: Trade payables; Other payables]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph k<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_k&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TradeAndOtherPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6811442832">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 26 - Provisions - Changes in Provisions (Details)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2017 </div>
<div>BRL (R$)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">R$ 934.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Effect of changes in foreign</a></td>
<td class="num">(3.5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalProvisionsOtherProvisions', window );">Additions</a></td>
<td class="nump">558.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Provisions used and reversed</a></td>
<td class="num">(807.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">681.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_RestructuringProvisionMember', window );">Restructuring provision [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">7.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Effect of changes in foreign</a></td>
<td class="nump">0.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalProvisionsOtherProvisions', window );">Additions</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Provisions used and reversed</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">8.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember', window );">Provision for taxes other than income tax [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">247.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Effect of changes in foreign</a></td>
<td class="nump">0.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalProvisionsOtherProvisions', window );">Additions</a></td>
<td class="nump">113.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Provisions used and reversed</a></td>
<td class="num">(135.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">226.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionForIncomeTaxMember', window );">Provision for income tax [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">323.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Effect of changes in foreign</a></td>
<td class="nump">3.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalProvisionsOtherProvisions', window );">Additions</a></td>
<td class="nump">167.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Provisions used and reversed</a></td>
<td class="num">(336.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">157.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionsForLaborMember', window );">Provisions for labor [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">165.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Effect of changes in foreign</a></td>
<td class="num">(1.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalProvisionsOtherProvisions', window );">Additions</a></td>
<td class="nump">142.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Provisions used and reversed</a></td>
<td class="num">(176.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">129.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_LegalProceedingsProvisionMember', window );">Legal proceedings provision [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">43.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Effect of changes in foreign</a></td>
<td class="num">(0.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalProvisionsOtherProvisions', window );">Additions</a></td>
<td class="nump">65.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Provisions used and reversed</a></td>
<td class="num">(74.0)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">35.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember', window );">Miscellaneous other provisions [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">146.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Effect of changes in foreign</a></td>
<td class="num">(5.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalProvisionsOtherProvisions', window );">Additions</a></td>
<td class="nump">69.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Provisions used and reversed</a></td>
<td class="num">(84.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">125.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_TotalContingentProvisionsMember', window );">Total contingent provisions [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">926.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions', window );">Effect of changes in foreign</a></td>
<td class="num">(4.2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AdditionalProvisionsOtherProvisions', window );">Additions</a></td>
<td class="nump">558.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProvisionUsedOtherProvisions', window );">Provisions used and reversed</a></td>
<td class="num">(807.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Balance</a></td>
<td class="nump">R$ 673.5<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AdditionalProvisionsOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of additional other provisions made. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2017-01-01<br> -Paragraph 84<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=37&amp;date=2017-03-01&amp;anchor=para_84_b&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AdditionalProvisionsOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) in other provisions resulting from foreign currency exchange rate changes on provisions measured in a currency different from the entity's presentation currency. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2017-01-01<br> -Paragraph 84<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=37&amp;date=2017-03-01&amp;anchor=para_84&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProvisionUsedOtherProvisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount used (ie incurrent and charged against the provision) for other provisions. [Refer: Other provisions]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2017-01-01<br> -Paragraph 84<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=37&amp;date=2017-03-01&amp;anchor=para_84_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProvisionUsedOtherProvisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Provisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities of uncertain timing or the amount recognised when: (a) the entity has a present obligation (legal or constructive) as a result of a past event; (b) it is probable (ie more likely than not) that an outflow of resources embodying economic benefits will be required to settle the obligation; and (c) a reliable estimate can be made of the amount of the obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph l<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_l&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Provisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_RestructuringProvisionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_RestructuringProvisionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionForIncomeTaxMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionForIncomeTaxMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionsForLaborMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionsForLaborMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_LegalProceedingsProvisionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_LegalProceedingsProvisionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=abev_TotalContingentProvisionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=abev_TotalContingentProvisionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</div></td></tr>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6808494960">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 26 - Provisions - Disbursement Expectative (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">R$ 681.6<span></span>
</td>
<td class="nump">R$ 934.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">169.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">351.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanFiveYearsMember', window );">Later than two years and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">131.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">29.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_RestructuringProvisionMember', window );">Restructuring provision [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">8.1<span></span>
</td>
<td class="nump">7.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_RestructuringProvisionMember', window );">Restructuring provision [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">7.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_RestructuringProvisionMember', window );">Restructuring provision [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_RestructuringProvisionMember', window );">Restructuring provision [member] | Later than two years and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">0.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_RestructuringProvisionMember', window );">Restructuring provision [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember', window );">Provision for taxes other than income tax [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">226.3<span></span>
</td>
<td class="nump">247.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember', window );">Provision for taxes other than income tax [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">25.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember', window );">Provision for taxes other than income tax [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">179.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember', window );">Provision for taxes other than income tax [member] | Later than two years and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">5.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember', window );">Provision for taxes other than income tax [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">15.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionForIncomeTaxMember', window );">Provision for income tax [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">157.0<span></span>
</td>
<td class="nump">323.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionForIncomeTaxMember', window );">Provision for income tax [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">33.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionForIncomeTaxMember', window );">Provision for income tax [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">100.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionForIncomeTaxMember', window );">Provision for income tax [member] | Later than two years and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">22.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionForIncomeTaxMember', window );">Provision for income tax [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionsForLaborMember', window );">Provisions for labor [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">129.5<span></span>
</td>
<td class="nump">165.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionsForLaborMember', window );">Provisions for labor [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">77.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionsForLaborMember', window );">Provisions for labor [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">25.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionsForLaborMember', window );">Provisions for labor [member] | Later than two years and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">17.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionsForLaborMember', window );">Provisions for labor [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">9.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_LegalProceedingsProvisionMember', window );">Legal proceedings provision [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">35.2<span></span>
</td>
<td class="nump">43.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_LegalProceedingsProvisionMember', window );">Legal proceedings provision [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">17.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_LegalProceedingsProvisionMember', window );">Legal proceedings provision [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">15.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_LegalProceedingsProvisionMember', window );">Legal proceedings provision [member] | Later than two years and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">1.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_LegalProceedingsProvisionMember', window );">Legal proceedings provision [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">1.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember', window );">Miscellaneous other provisions [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">125.5<span></span>
</td>
<td class="nump">146.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember', window );">Miscellaneous other provisions [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">8.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember', window );">Miscellaneous other provisions [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">30.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember', window );">Miscellaneous other provisions [member] | Later than two years and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">83.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember', window );">Miscellaneous other provisions [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">3.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_TotalContingentProvisionsMember', window );">Total contingent provisions [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">673.5<span></span>
</td>
<td class="nump">R$ 926.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_TotalContingentProvisionsMember', window );">Total contingent provisions [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">161.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_TotalContingentProvisionsMember', window );">Total contingent provisions [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">351.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_TotalContingentProvisionsMember', window );">Total contingent provisions [member] | Later than two years and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">130.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfProvisionsAxis=abev_TotalContingentProvisionsMember', window );">Total contingent provisions [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Provisions</a></td>
<td class="nump">R$ 29.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Provisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities of uncertain timing or the amount recognised when: (a) the entity has a present obligation (legal or constructive) as a result of a past event; (b) it is probable (ie more likely than not) that an outflow of resources embodying economic benefits will be required to settle the obligation; and (c) a reliable estimate can be made of the amount of the obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph l<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_l&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Provisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_RestructuringProvisionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_RestructuringProvisionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_ProvisionForTaxesOtherThanIncomeTaxMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionForIncomeTaxMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionForIncomeTaxMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionsForLaborMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=abev_ProvisionsForLaborMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_LegalProceedingsProvisionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_LegalProceedingsProvisionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=ifrs-full_MiscellaneousOtherProvisionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfProvisionsAxis=abev_TotalContingentProvisionsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfProvisionsAxis=abev_TotalContingentProvisionsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>160
<FILENAME>R144.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6810421808">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 27 - Financial Instruments and Risks (Details Textual) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ValueAtRiskExposureProbable', window );">Value at risk exposure, probable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">95.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ValueAtRiskDuration', window );">Value at risk, duration</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">21 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ValueAtRiskAdverseScenarioDeteriorationPercentage', window );">Value at risk, adverse scenario, deterioration percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ValueAtRiskRemoteScenarioDeteriorationPercentage', window );">Value at risk, remote scenario, deterioration percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Total gains (losses) on financial assets at fair value through profit or loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 227.6<span></span>
</td>
<td class="nump">R$ 247.5<span></span>
</td>
<td class="nump">R$ 261.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GuaranteesHeldForDerivativeInstruments', window );">Guarantees held for derivative instruments</a></td>
<td class="nump">R$ 608.3<span></span>
</td>
<td class="nump">608.3<span></span>
</td>
<td class="nump">R$ 486.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember', window );">Swap contract [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss', window );">Total gains (losses) on financial assets at fair value through profit or loss</a></td>
<td class="nump">67.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_EquityPriceRiskMember', window );">Equity price risk [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RiskExposureAssociatedWithInstrumentsSharingCharacteristic', window );">Risk exposure associated with instruments sharing characteristic</a></td>
<td class="nump">R$ 2,300.0<span></span>
</td>
<td class="nump">R$ 2,300.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember', window );">Bottom of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TriggerClausePercentageCreditRisk', window );">Trigger clause percentage, credit risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember', window );">Top of range [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TriggerClausePercentageCreditRisk', window );">Trigger clause percentage, credit risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_GuaranteesHeldForDerivativeInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of guarantees held for derivative instrument requirements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_GuaranteesHeldForDerivativeInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TriggerClausePercentageCreditRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The trigger clause percentage comparing the fair value of an operational to the notional value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TriggerClausePercentageCreditRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ValueAtRiskAdverseScenarioDeteriorationPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value at risk under an adverse scenario relating to the deterioration percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ValueAtRiskAdverseScenarioDeteriorationPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ValueAtRiskDuration">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of days under the Value at Risk exposure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ValueAtRiskDuration</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ValueAtRiskExposureProbable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage range for potential exposure under a probable scenario using Value at Risk.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ValueAtRiskExposureProbable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ValueAtRiskRemoteScenarioDeteriorationPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value at risk under a remote scenario relating to the deterioration percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ValueAtRiskRemoteScenarioDeteriorationPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) on financial assets at fair value through profit or loss. [Refer: Financial assets at fair value through profit or loss]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 20<br> -Subparagraph a<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_20_a_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesOnFinancialAssetsAtFairValueThroughProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RiskExposureAssociatedWithInstrumentsSharingCharacteristic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of risk exposure associated with financial instruments with a shared characteristic that identifies a concentration of risks. [Refer: Financial instruments, class [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph B8<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_B8_c&amp;doctype=Appendix&amp;seq=2<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RiskExposureAssociatedWithInstrumentsSharingCharacteristic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_SwapContractMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ifrs-full_EquityPriceRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ifrs-full_EquityPriceRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_BottomOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RangeAxis=ifrs-full_TopOfRangeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>161
<FILENAME>R145.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6828330752">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 27 - Financial Instruments and Risks - Transactions Protected by Derivative Financial Instruments (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCostExposureMember', window );">Total cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">R$ (9,742.3)<span></span>
</td>
<td class="num">R$ (8,807.6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">9,318.9<span></span>
</td>
<td class="nump">8,624.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">283.6<span></span>
</td>
<td class="nump">190.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="num">(190.0)<span></span>
</td>
<td class="num">(582.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="num">(563.5)<span></span>
</td>
<td class="num">(1,397.5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="num">(200.2)<span></span>
</td>
<td class="nump">737.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="nump">584.8<span></span>
</td>
<td class="num">(873.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_CommodityRiskPortionOfCostExposureMember', window );">Commodity risk portion of cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(2,378.7)<span></span>
</td>
<td class="num">(1,742.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">1,955.3<span></span>
</td>
<td class="nump">1,559.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">166.5<span></span>
</td>
<td class="nump">136.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="num">(70.7)<span></span>
</td>
<td class="num">(43.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="num">(1.5)<span></span>
</td>
<td class="num">(5.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="nump">103.6<span></span>
</td>
<td class="num">(97.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="num">(4.8)<span></span>
</td>
<td class="nump">90.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfCostExposureMember', window );">American dollar risk portion of cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(6,879.1)<span></span>
</td>
<td class="num">(6,566.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">6,879.1<span></span>
</td>
<td class="nump">6,566.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">86.3<span></span>
</td>
<td class="nump">36.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="num">(93.4)<span></span>
</td>
<td class="num">(491.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="num">(556.1)<span></span>
</td>
<td class="num">(1,392.6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="num">(331.5)<span></span>
</td>
<td class="nump">782.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="nump">630.2<span></span>
</td>
<td class="num">(909.0)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfCostExposureMember', window );">Euro risk portion of cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(82.9)<span></span>
</td>
<td class="num">(135.2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">82.9<span></span>
</td>
<td class="nump">135.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">3.5<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="num">(0.7)<span></span>
</td>
<td class="num">(4.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="num">(4.7)<span></span>
</td>
<td class="nump">3.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="nump">0.4<span></span>
</td>
<td class="nump">56.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="nump">6.6<span></span>
</td>
<td class="num">(42.1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_MexicanPesosRiskPortionOfCostExposureMember', window );">Mexican Pesos risk portion of cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(401.6)<span></span>
</td>
<td class="num">(359.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">401.6<span></span>
</td>
<td class="nump">359.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">27.3<span></span>
</td>
<td class="nump">18.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="num">(25.2)<span></span>
</td>
<td class="num">(43.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="num">(1.2)<span></span>
</td>
<td class="num">(2.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="nump">27.3<span></span>
</td>
<td class="num">(4.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="num">(47.2)<span></span>
</td>
<td class="num">(13.2)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalFixedAssetExposureMember', window );">Total fixed asset exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(579.5)<span></span>
</td>
<td class="num">(523.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">579.5<span></span>
</td>
<td class="nump">523.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">1.9<span></span>
</td>
<td class="nump">3.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="num">(10.8)<span></span>
</td>
<td class="num">(76.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="num">(1.9)<span></span>
</td>
<td class="num">(187.0)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_BrazilianRealRiskPortionOfCostExposureMember', window );">Brazilian Real risk portion of cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3.5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember', window );">American Dollar risk portion of fixed assets exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(531.9)<span></span>
</td>
<td class="num">(430.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">531.9<span></span>
</td>
<td class="nump">430.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">1.8<span></span>
</td>
<td class="nump">3.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="num">(10.8)<span></span>
</td>
<td class="num">(5.8)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="num">(2.8)<span></span>
</td>
<td class="num">(119.0)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfFixedAssetsExposureMember', window );">Euro risk portion of fixed assets exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(47.6)<span></span>
</td>
<td class="num">(92.8)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">47.6<span></span>
</td>
<td class="nump">92.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">0.1<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(70.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="nump">0.9<span></span>
</td>
<td class="num">(68.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalExpensesExposureMember', window );">Total expenses exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(177.7)<span></span>
</td>
<td class="num">(103.7)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">177.7<span></span>
</td>
<td class="nump">103.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">0.5<span></span>
</td>
<td class="nump">0.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="num">(1.8)<span></span>
</td>
<td class="num">(1.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="num">(2.9)<span></span>
</td>
<td class="nump">47.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="nump">3.9<span></span>
</td>
<td class="nump">5.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="nump">1.8<span></span>
</td>
<td class="num">(134.2)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheExpensesExposureMember', window );">American Dollar risk portion of the expenses exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(169.2)<span></span>
</td>
<td class="num">(90.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">169.2<span></span>
</td>
<td class="nump">90.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">0.3<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="num">(1.6)<span></span>
</td>
<td class="num">(1.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="num">(3.1)<span></span>
</td>
<td class="num">(3.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="nump">3.5<span></span>
</td>
<td class="nump">5.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="nump">2.4<span></span>
</td>
<td class="num">(29.4)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_RupeeRiskPortionOfTheExpensesExposureMember', window );">Rupee risk portion of the expenses exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(8.5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">8.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">0.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="num">(0.2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="nump">0.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="nump">0.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="num">(0.6)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCashExposureMember', window );">Total cash exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(1,328.3)<span></span>
</td>
<td class="nump">1,043.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">1,328.3<span></span>
</td>
<td class="num">(1,043.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="num">(13.1)<span></span>
</td>
<td class="nump">7.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="num">(266.0)<span></span>
</td>
<td class="num">(3.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheCashExposureMember', window );">American Dollar risk portion of the cash exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(1,313.3)<span></span>
</td>
<td class="nump">592.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">1,313.3<span></span>
</td>
<td class="num">(592.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="num">(13.1)<span></span>
</td>
<td class="nump">7.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="num">(266.0)<span></span>
</td>
<td class="num">(55.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfTheExpensesExposureMember', window );">Euro risk portion of the expenses exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheCashExposureMember', window );">Interest rate risk portion of the cash exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(15.0)<span></span>
</td>
<td class="nump">400.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">15.0<span></span>
</td>
<td class="num">(400.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(0.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">40.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_CanadianDollarRiskPortionOfTheExpensesExposureMember', window );">Canadian dollar risk portion of the expenses exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(106.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalDebtsExposureMember', window );">Total debts exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(919.5)<span></span>
</td>
<td class="num">(2,547.9)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">356.9<span></span>
</td>
<td class="nump">2,000.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">30.0<span></span>
</td>
<td class="nump">18.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="num">(1.8)<span></span>
</td>
<td class="num">(61.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="num">(67.5)<span></span>
</td>
<td class="num">(50.7)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_BrazilianRealRiskPortionOfTheExpensesExposureMember', window );">Brazilian Real risk portion of the expenses exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(12.8)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheDebtsExposureMember', window );">American Dollar risk portion of the debts exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(562.6)<span></span>
</td>
<td class="num">(1,874.2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">1,326.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">2.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(48.5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="num">(76.2)<span></span>
</td>
<td class="num">(28.7)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheDebtsExposureMember', window );">Interest rate risk portion of the debts exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(356.9)<span></span>
</td>
<td class="num">(673.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">356.9<span></span>
</td>
<td class="nump">673.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">30.0<span></span>
</td>
<td class="nump">15.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="num">(1.8)<span></span>
</td>
<td class="num">(12.7)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="nump">8.7<span></span>
</td>
<td class="num">(22.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalEquityExposureMember', window );">Total equity exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(2,347.9)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">677.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">69.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="nump">67.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfTheCashExposureMember', window );">Euro risk portion of the cash exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">51.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(51.5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember', window );">Stock exchange price risk portion of the equity instrument exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(2,347.9)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">677.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">69.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="nump">67.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalFinancialRiskExposureMember', window );">Total financial risk exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="num">(15,095.2)<span></span>
</td>
<td class="num">(10,938.5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="nump">12,438.3<span></span>
</td>
<td class="nump">10,207.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="nump">385.2<span></span>
</td>
<td class="nump">212.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="num">(217.5)<span></span>
</td>
<td class="num">(713.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="num">(834.8)<span></span>
</td>
<td class="num">(1,592.5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="num">(196.3)<span></span>
</td>
<td class="nump">743.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="nump">R$ 586.6<span></span>
</td>
<td class="num">(972.1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalForeignInvestmentsExposureMember', window );">Total foreign investments exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1.2)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">35.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember', window );">American Dollar risk portion of the foreign investments exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfTheForeignInvestmentsExposureMember', window );">Euro risk portion of the foreign investments exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_CanadianDollarRiskPortionOfTheForeignInvestmentsExposureMember', window );">Canadian Dollar risk portion of the foreign investments exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRisk', window );">Risk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_DerivativeNotionalAmount', window );">Notional</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets', window );">Fair Value Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities', window );">Fair Value Liability</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInFinancialResults', window );">Gain (loss) Finance Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(0.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesFromOperationalResults', window );">Gain (loss) Operational Result</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecordedInEquity', window );">Gain (loss) Equity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">R$ (3.5)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_GainsLossesFromOperationalResults">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains or losses recorded in operational results.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_GainsLossesFromOperationalResults</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_GainsLossesRecordedInEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains or losses recorded in equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_GainsLossesRecordedInEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_GainsLossesRecordedInFinancialResults">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains or losses recorded in financial results.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_GainsLossesRecordedInFinancialResults</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_MaximumExposureToCreditRiskOfFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum exposure to the credit risk of financial liabilities designated as measured at fair value through profit or loss.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_MaximumExposureToCreditRiskOfFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaximumExposureToCreditRisk">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount that best represents the maximum exposure to credit risk without taking into account any collateral held or other credit enhancements (for example, netting agreements that do not qualify for offset in accordance with IAS 32). [Refer: Credit risk [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35K<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35K_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 36<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_36_a&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaximumExposureToCreditRisk</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum exposure to the credit risk of financial assets designated as measured at fair value through profit or loss. [Refer: Credit risk [member]; Maximum exposure to credit risk]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 9<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_9_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaximumExposureToCreditRiskOfFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_DerivativeNotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate notional amount specified by the derivative(s). Expressed as an absolute value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 12<br> -Section 13<br> -Sentence Column B<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_DerivativeNotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>invest_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_CommodityRiskPortionOfCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_CommodityRiskPortionOfCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_MexicanPesosRiskPortionOfCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_MexicanPesosRiskPortionOfCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalFixedAssetExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalFixedAssetExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_BrazilianRealRiskPortionOfCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_BrazilianRealRiskPortionOfCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfFixedAssetsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfFixedAssetsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalExpensesExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalExpensesExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheExpensesExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheExpensesExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_RupeeRiskPortionOfTheExpensesExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_RupeeRiskPortionOfTheExpensesExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalCashExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalCashExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheCashExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheCashExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfTheExpensesExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfTheExpensesExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheCashExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheCashExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_CanadianDollarRiskPortionOfTheExpensesExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_CanadianDollarRiskPortionOfTheExpensesExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalDebtsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalDebtsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_BrazilianRealRiskPortionOfTheExpensesExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_BrazilianRealRiskPortionOfTheExpensesExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheDebtsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheDebtsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheDebtsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheDebtsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalEquityExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalEquityExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfTheCashExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfTheCashExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalFinancialRiskExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalFinancialRiskExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalForeignInvestmentsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalForeignInvestmentsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfTheForeignInvestmentsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfTheForeignInvestmentsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_CanadianDollarRiskPortionOfTheForeignInvestmentsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_CanadianDollarRiskPortionOfTheForeignInvestmentsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>162
<FILENAME>R146.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6827254000">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 27 - Financial Instruments and Risks - Interest Rate Hedging (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskBrazilianRealMember', window );">Interest rate risk, Brazilian Real [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestRatePrehedged', window );">Pre-hedge, post-fixed interest rate</a></td>
<td class="nump">9.20%<span></span>
</td>
<td class="nump">10.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestPrehedgedValue', window );">Pre-hedge, post-fixed interest rate, amount</a></td>
<td class="nump">R$ 402.3<span></span>
</td>
<td class="nump">R$ 667.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestRatePosthedged', window );">Post-hedge, post-fixed interest rate</a></td>
<td class="nump">7.60%<span></span>
</td>
<td class="nump">12.60%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestPosthedgedValue', window );">Post-hedge, post-fixed interest rate, amount</a></td>
<td class="nump">R$ 714.1<span></span>
</td>
<td class="nump">R$ 2,375.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestRatePrehedged', window );">Pre-hedge, pre-set interest rate</a></td>
<td class="nump">6.40%<span></span>
</td>
<td class="nump">6.80%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestPrehedgedValue', window );">Pre-hedge, pre-set interest rate, amount</a></td>
<td class="nump">R$ 682.5<span></span>
</td>
<td class="nump">R$ 1,223.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestRatePosthedged', window );">Post-hedge, pre-set interest rate</a></td>
<td class="nump">5.90%<span></span>
</td>
<td class="nump">6.20%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestPosthedgedValue', window );">Post-hedge, pre-set interest rate, amount</a></td>
<td class="nump">R$ 370.8<span></span>
</td>
<td class="nump">R$ 841.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskAmericanDollarMember', window );">Interest rate risk, American Dollar [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestRatePrehedged', window );">Pre-hedge, post-fixed interest rate</a></td>
<td class="nump">2.70%<span></span>
</td>
<td class="nump">1.50%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestPrehedgedValue', window );">Pre-hedge, post-fixed interest rate, amount</a></td>
<td class="nump">R$ 555.3<span></span>
</td>
<td class="nump">R$ 1,882.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestRatePosthedged', window );">Post-hedge, post-fixed interest rate</a></td>
<td class="nump">2.70%<span></span>
</td>
<td class="nump">2.20%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestPosthedgedValue', window );">Post-hedge, post-fixed interest rate, amount</a></td>
<td class="nump">R$ 555.2<span></span>
</td>
<td class="nump">R$ 565.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestRatePrehedged', window );">Pre-hedge, pre-set interest rate</a></td>
<td class="nump">3.80%<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestPrehedgedValue', window );">Pre-hedge, pre-set interest rate, amount</a></td>
<td class="nump">R$ 22.9<span></span>
</td>
<td class="nump">R$ 11.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestRatePosthedged', window );">Post-hedge, pre-set interest rate</a></td>
<td class="nump">3.80%<span></span>
</td>
<td class="nump">6.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestPosthedgedValue', window );">Post-hedge, pre-set interest rate, amount</a></td>
<td class="nump">R$ 22.9<span></span>
</td>
<td class="nump">R$ 1.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskCanadianDollarMember', window );">Interest rate risk, Canadian Dollar [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestRatePrehedged', window );">Pre-hedge, post-fixed interest rate</a></td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">1.60%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestPrehedgedValue', window );">Pre-hedge, post-fixed interest rate, amount</a></td>
<td class="nump">R$ 685.9<span></span>
</td>
<td class="nump">R$ 1,259.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestRatePosthedged', window );">Post-hedge, post-fixed interest rate</a></td>
<td class="nump">2.00%<span></span>
</td>
<td class="nump">1.60%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestPosthedgedValue', window );">Post-hedge, post-fixed interest rate, amount</a></td>
<td class="nump">R$ 685.9<span></span>
</td>
<td class="nump">R$ 1,259.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskBarbadianDollarMember', window );">Interest rate risk, Barbadian Dollar [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestRatePrehedged', window );">Pre-hedge, post-fixed interest rate</a></td>
<td class="nump">2.30%<span></span>
</td>
<td class="nump">2.70%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestPrehedgedValue', window );">Pre-hedge, post-fixed interest rate, amount</a></td>
<td class="nump">R$ 5.0<span></span>
</td>
<td class="nump">R$ 4.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestRatePosthedged', window );">Post-hedge, post-fixed interest rate</a></td>
<td class="nump">2.30%<span></span>
</td>
<td class="nump">2.70%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestPosthedgedValue', window );">Post-hedge, post-fixed interest rate, amount</a></td>
<td class="nump">R$ 5.0<span></span>
</td>
<td class="nump">R$ 4.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestRatePrehedged', window );">Pre-hedge, pre-set interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.30%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestPrehedgedValue', window );">Pre-hedge, pre-set interest rate, amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 48.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestRatePosthedged', window );">Post-hedge, pre-set interest rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4.30%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestPosthedgedValue', window );">Post-hedge, pre-set interest rate, amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 48.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember', window );">Interest rate risk [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestRatePrehedged', window );">Pre-hedge, post-fixed interest rate</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestPrehedgedValue', window );">Pre-hedge, post-fixed interest rate, amount</a></td>
<td class="nump">R$ 1,648.5<span></span>
</td>
<td class="nump">R$ 3,814.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestRatePosthedged', window );">Post-hedge, post-fixed interest rate</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PostfixedInterestPosthedgedValue', window );">Post-hedge, post-fixed interest rate, amount</a></td>
<td class="nump">R$ 1,960.2<span></span>
</td>
<td class="nump">R$ 4,205.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestRatePrehedged', window );">Pre-hedge, pre-set interest rate</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestPrehedgedValue', window );">Pre-hedge, pre-set interest rate, amount</a></td>
<td class="nump">R$ 906.3<span></span>
</td>
<td class="nump">R$ 1,582.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestRatePosthedged', window );">Post-hedge, pre-set interest rate</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestPosthedgedValue', window );">Post-hedge, pre-set interest rate, amount</a></td>
<td class="nump">R$ 594.6<span></span>
</td>
<td class="nump">R$ 1,191.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskArgentineanPesoMember', window );">Interest rate risk, Argentinean Peso [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestRatePrehedged', window );">Pre-hedge, pre-set interest rate</a></td>
<td class="nump">31.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestPrehedgedValue', window );">Pre-hedge, pre-set interest rate, amount</a></td>
<td class="nump">R$ 1.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestRatePosthedged', window );">Post-hedge, pre-set interest rate</a></td>
<td class="nump">31.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestPosthedgedValue', window );">Post-hedge, pre-set interest rate, amount</a></td>
<td class="nump">R$ 1.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskDominicanPesoMember', window );">Interest rate risk, Dominican Peso [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestRatePrehedged', window );">Pre-hedge, pre-set interest rate</a></td>
<td class="nump">9.30%<span></span>
</td>
<td class="nump">9.70%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestPrehedgedValue', window );">Pre-hedge, pre-set interest rate, amount</a></td>
<td class="nump">R$ 188.8<span></span>
</td>
<td class="nump">R$ 288.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestRatePosthedged', window );">Post-hedge, pre-set interest rate</a></td>
<td class="nump">9.30%<span></span>
</td>
<td class="nump">9.70%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestPosthedgedValue', window );">Post-hedge, pre-set interest rate, amount</a></td>
<td class="nump">R$ 188.8<span></span>
</td>
<td class="nump">R$ 288.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskGuatemalasQuetzalMember', window );">Interest rate risk, Guatemala&#180;s Quetzal [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestRatePrehedged', window );">Pre-hedge, pre-set interest rate</a></td>
<td class="nump">7.80%<span></span>
</td>
<td class="nump">8.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestPrehedgedValue', window );">Pre-hedge, pre-set interest rate, amount</a></td>
<td class="nump">R$ 10.3<span></span>
</td>
<td class="nump">R$ 9.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestRatePosthedged', window );">Post-hedge, pre-set interest rate</a></td>
<td class="nump">7.80%<span></span>
</td>
<td class="nump">8.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PresetInterestPosthedgedValue', window );">Post-hedge, pre-set interest rate, amount</a></td>
<td class="nump">R$ 10.3<span></span>
</td>
<td class="nump">R$ 10.0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PostfixedInterestPosthedgedValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of postfixed interest after it is hedged.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PostfixedInterestPosthedgedValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PostfixedInterestPrehedgedValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of postfixed interest before it is hedged.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PostfixedInterestPrehedgedValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PostfixedInterestRatePosthedged">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of postfixed interest rate after it is hedged.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PostfixedInterestRatePosthedged</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PostfixedInterestRatePrehedged">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of postfixed interest rate before it is hedged.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PostfixedInterestRatePrehedged</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PresetInterestPosthedgedValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of postfixed interest after it is hedged.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PresetInterestPosthedgedValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PresetInterestPrehedgedValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of pre-set interest before it is hedged.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PresetInterestPrehedgedValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PresetInterestRatePosthedged">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of pre-set interest rate after it is hedged.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PresetInterestRatePosthedged</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PresetInterestRatePrehedged">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of pre-set interest rate before it is hedged.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PresetInterestRatePrehedged</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskBrazilianRealMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskBrazilianRealMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskAmericanDollarMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskAmericanDollarMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskCanadianDollarMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskCanadianDollarMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskBarbadianDollarMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskBarbadianDollarMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=ifrs-full_InterestRateRiskMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskArgentineanPesoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskArgentineanPesoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskDominicanPesoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskDominicanPesoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskGuatemalasQuetzalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskGuatemalasQuetzalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R147.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6814465216">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 27 - Financial Instruments and Risks - Sensitivity Analysis of Financial Instruments (Details)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th">
<div>Dec. 31, 2017 </div>
<div>BRL (R$)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">R$ 167.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_CommodityRiskPortionOfCostExposureMember', window );">Commodity risk portion of cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">95.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCostExposureMember', window );">Total cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">93.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalFixedAssetExposureMember', window );">Total fixed asset exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(8.9)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalExpensesExposureMember', window );">Total expenses exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(1.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheCashExposureMember', window );">Interest rate risk portion of the cash exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCashExposureMember', window );">Total cash exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(13.1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheDebtsExposureMember', window );">Interest rate risk portion of the debts exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">28.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalDebtsExposureMember', window );">Total debts exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">28.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember', window );">Stock exchange price risk portion of the equity instrument exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">69.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalEquityExposureMember', window );">Total equity exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">69.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalRiskExposuresMember', window );">Total risk exposures [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="nump">82.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="nump">664.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="nump">1,328.6<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis', window );">Fair value of hedges and transactions, pro forma</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_CommoditiesHedgeMember', window );">Commodities hedge [member] | Commodity risk portion of cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">95.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="num">(70.6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="num">(392.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="num">(881.7)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_CommoditiesHedgeMember', window );">Commodities hedge [member] | Input purchase affecting the commodity risk portion of cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="nump">108.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="nump">498.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="nump">1,093.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis', window );">Fair value of hedging instrument transactions, pro forma</a></td>
<td class="num">(95.8)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_ForeignCurrencyExchangeHedgeMember', window );">Foreign currency exchange hedge [member] | Foreign exchange risk portion of cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(2.2)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="num">(105.0)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="num">(1,843.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="num">(3,684.0)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_ForeignCurrencyExchangeHedgeMember', window );">Foreign currency exchange hedge [member] | Input purchase that affects the foreign exchange risk portion of cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="nump">105.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="nump">1,843.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="nump">3,684.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis', window );">Fair value of hedging instrument transactions, pro forma</a></td>
<td class="nump">2.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_ForeignCurrencyExchangeHedgeMember', window );">Foreign currency exchange hedge [member] | Foreign currency risk portion of fixed assets exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="num">(16.8)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="num">(153.8)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="num">(298.6)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis', window );">Fair value of hedging instrument transactions, pro forma</a></td>
<td class="num">(8.9)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_ForeignCurrencyExchangeHedgeMember', window );">Foreign currency exchange hedge [member] | Capex Purchase affecting the foreign currency exchange risk portion of the fixed assets exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">8.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="nump">16.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="nump">153.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="nump">298.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_ForeignCurrencyExchangeHedgeMember', window );">Foreign currency exchange hedge [member] | Total fixed asset exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis', window );">Fair value of hedges and transactions, pro forma</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_ForeignCurrencyExchangeHedgeMember', window );">Foreign currency exchange hedge [member] | Foreign currency exchange risk portion of expenses exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(1.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="num">(3.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="num">(45.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="num">(90.2)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_ForeignCurrencyExchangeHedgeMember', window );">Foreign currency exchange hedge [member] | Expenses that affect the foreign currency exchange risk portion of expenses exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="nump">3.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="nump">45.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="nump">90.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis', window );">Fair value of hedging instrument transactions, pro forma</a></td>
<td class="nump">1.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_ForeignCurrencyExchangeHedgeMember', window );">Foreign currency exchange hedge [member] | Total expenses exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis', window );">Fair value of hedges and transactions, pro forma</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_ForeignCurrencyExchangeHedgeMember', window );">Foreign currency exchange hedge [member] | Foreign currency exchange risk portion of cash exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(13.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="num">(37.5)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="num">(341.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="num">(669.8)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_ForeignCurrencyExchangeHedgeMember', window );">Foreign currency exchange hedge [member] | Cash transaction affecting the foreign currency exchange risk portion of cash exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="nump">37.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="nump">341.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="nump">669.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis', window );">Fair value of hedging instrument transactions, pro forma</a></td>
<td class="nump">13.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_ForeignCurrencyExchangeHedgeMember', window );">Foreign currency exchange hedge [member] | Foreign currency exchange portion of debt effects exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_ForeignCurrencyExchangeHedgeMember', window );">Foreign currency exchange hedge [member] | Cash transaction affecting the foreign currency exchange risk portion of debt exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="nump">9.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="nump">140.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="nump">281.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis', window );">Fair value of hedging instrument transactions, pro forma</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_CommoditiesAndForeignExchangeHedgesMember', window );">Commodities and foreign exchange hedges [member] | Total cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="nump">38.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="nump">105.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="nump">211.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis', window );">Fair value of hedges and transactions, pro forma</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_InterestHedgeMember', window );">Interest hedge [member] | Interest rate risk portion of the cash exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="num">(0.4)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="num">(2.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="num">(3.4)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_InterestHedgeMember', window );">Interest hedge [member] | Interest revenue transaction affecting the interest rate risk portion of the cash exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="nump">0.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="nump">2.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="nump">3.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis', window );">Fair value of hedging instrument transactions, pro forma</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_InterestHedgeMember', window );">Interest hedge [member] | Interest rate risk portion of the debts exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">28.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="nump">18.4<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="num">(131.5)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="num">(162.7)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_InterestHedgeMember', window );">Interest hedge [member] | Interest expenses affecting the interest rate portion of the debts exposure portion [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="num">(18.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="nump">131.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="nump">162.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis', window );">Fair value of hedging instrument transactions, pro forma</a></td>
<td class="num">(28.2)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_InterestAndForeignCurrencyHedgesMember', window );">Interest and foreign currency hedges [member] | Total cash exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis', window );">Fair value of hedges and transactions, pro forma</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_InterestAndForeignCurrencyHedgesMember', window );">Interest and foreign currency hedges [member] | Total debts exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="nump">9.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="nump">140.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="nump">281.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis', window );">Fair value of hedges and transactions, pro forma</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_EquityInstrumentHedgesMember', window );">Equity instrument hedges [member] | Stock exchange price risk portion of the equity instrument exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">69.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="nump">54.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="num">(100.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="num">(269.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_EquityInstrumentHedgesMember', window );">Equity instrument hedges [member] | Expenses that affect the equity instrument risk portion of equity exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="num">(19.4)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="nump">517.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="nump">1,104.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis', window );">Fair value of hedging instrument transactions, pro forma</a></td>
<td class="num">(69.2)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfHedgesAxis=abev_EquityInstrumentHedgesMember', window );">Equity instrument hedges [member] | Total equity exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis', window );">Sensitivity value level, probable scenario</a></td>
<td class="nump">34.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis', window );">Sensitivity value level, adverse scenario</a></td>
<td class="nump">417.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis', window );">Sensitivity value level, remote scenario</a></td>
<td class="nump">835.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis', window );">Fair value of hedges and transactions, pro forma</a></td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net fair value of financial instruments designated as hedging instruments on a pro forma basis. Hedging instruments are designated derivatives or (for a hedge of the risk of changes in foreign currency exchange rates only) designated non-derivative financial assets or non-derivative financial liabilities whose fair value or cash flows are expected to offset changes in the fair value or cash flows of a designated hedged item.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueNetProFormaBasis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) effects at the adverse level of a sensitivity analysis for hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtAdverseScenarioProFormaBasis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) effects at the probable level of a sensitivity analysis for hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtProbableScenarioProFormaBasis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) effects at the remote level of a sensitivity analysis for hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_FinancialInstrumentsDesignatedAsHedgingInstrumentsEffectsAtRemoteScenarioProFormaBasis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of transactions on financial instruments designated as hedging instruments, which increase (decrease) the value. Hedging instruments are designated derivatives or (for a hedge of the risk of changes in foreign currency exchange rates only) designated non-derivative financial assets or non-derivative financial liabilities whose fair value or cash flows are expected to offset changes in the fair value or cash flows of a designated hedged item.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TransactionsAffectingFinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValueProFormaBasis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of financial instruments designated as hedging instruments. Hedging instruments are designated derivatives or (for a hedge of the risk of changes in foreign currency exchange rates only) designated non-derivative financial assets or non-derivative financial liabilities whose fair value or cash flows are expected to offset changes in the fair value or cash flows of a designated hedged item. [Refer: At fair value [member]; Derivatives [member]; Derivative financial assets; Derivative financial liabilities; Financial instruments, class [member]; Financial assets; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 22<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_22_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_CommodityRiskPortionOfCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_CommodityRiskPortionOfCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalFixedAssetExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalFixedAssetExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalExpensesExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalExpensesExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheCashExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheCashExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalCashExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalCashExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheDebtsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheDebtsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalDebtsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalDebtsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalEquityExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalEquityExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalRiskExposuresMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalRiskExposuresMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=abev_CommoditiesHedgeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=abev_CommoditiesHedgeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InputPurchaseAffectingTheCommodityRiskPortionOfCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InputPurchaseAffectingTheCommodityRiskPortionOfCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=abev_ForeignCurrencyExchangeHedgeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=abev_ForeignCurrencyExchangeHedgeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_ForeignExchangeRiskPortionOfCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_ForeignExchangeRiskPortionOfCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InputPurchaseThatAffectsTheForeignExchangeRiskPortionOfCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InputPurchaseThatAffectsTheForeignExchangeRiskPortionOfCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_ForeignCurrencyRiskPortionOfFixedAssetsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_ForeignCurrencyRiskPortionOfFixedAssetsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_CapexPurchaseAffectingTheForeignCurrencyExchangeRiskPortionOfTheFixedAssetsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_CapexPurchaseAffectingTheForeignCurrencyExchangeRiskPortionOfTheFixedAssetsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_ForeignCurrencyExchangeRiskPortionOfExpensesExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_ForeignCurrencyExchangeRiskPortionOfExpensesExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_ExpensesThatAffectTheForeignCurrencyExchangeRiskPortionOfExpensesExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_ExpensesThatAffectTheForeignCurrencyExchangeRiskPortionOfExpensesExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_ForeignCurrencyExchangeRiskPortionOfCashExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_ForeignCurrencyExchangeRiskPortionOfCashExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfCashExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfCashExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_ForeignCurrencyExchangePortionOfDebtEffectsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_ForeignCurrencyExchangePortionOfDebtEffectsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfDebtExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_CashTransactionAffectingTheForeignCurrencyExchangeRiskPortionOfDebtExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=abev_CommoditiesAndForeignExchangeHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=abev_CommoditiesAndForeignExchangeHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=abev_InterestHedgeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=abev_InterestHedgeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InterestRevenueTransactionAffectingTheInterestRateRiskPortionOfTheCashExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InterestRevenueTransactionAffectingTheInterestRateRiskPortionOfTheCashExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InterestExpensesAffectingTheInterestRatePortionOfTheDebtsExposurePortionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InterestExpensesAffectingTheInterestRatePortionOfTheDebtsExposurePortionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=abev_InterestAndForeignCurrencyHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=abev_InterestAndForeignCurrencyHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfHedgesAxis=abev_EquityInstrumentHedgesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfHedgesAxis=abev_EquityInstrumentHedgesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_ExpensesThatAffectTheEquityInstrumentRiskPortionOfEquityExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_ExpensesThatAffectTheEquityInstrumentRiskPortionOfEquityExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>164
<FILENAME>R148.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6811509728">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 27 - Financial Instruments and Risks - Notional and Fair Value Amounts per Instrument and Maturity (Details)<br> R$ in Millions</strong></div></th>
<th class="th">
<div>Dec. 31, 2017 </div>
<div>BRL (R$)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">R$ 12,438.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">167.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">11,966.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">134.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">99.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">4.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember', window );">Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">15.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember', window );">Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">110.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">25.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">246.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">3.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCostExposureMember', window );">Total cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">9,318.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">93.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCostExposureMember', window );">Total cost exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">9,219.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">89.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCostExposureMember', window );">Total cost exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">99.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">4.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCostExposureMember', window );">Total cost exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCostExposureMember', window );">Total cost exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCostExposureMember', window );">Total cost exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_CommodityRiskPortionOfCostExposureMember', window );">Commodity risk portion of cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">1,955.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">95.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_CommodityRiskPortionOfCostExposureMember', window );">Commodity risk portion of cost exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">1,859.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">91.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_CommodityRiskPortionOfCostExposureMember', window );">Commodity risk portion of cost exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">96.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">4.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_CommodityRiskPortionOfCostExposureMember', window );">Commodity risk portion of cost exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_CommodityRiskPortionOfCostExposureMember', window );">Commodity risk portion of cost exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_CommodityRiskPortionOfCostExposureMember', window );">Commodity risk portion of cost exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfCostExposureMember', window );">American dollar risk portion of cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">6,879.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(7.1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfCostExposureMember', window );">American dollar risk portion of cost exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">6,879.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(7.1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfCostExposureMember', window );">American dollar risk portion of cost exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfCostExposureMember', window );">American dollar risk portion of cost exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfCostExposureMember', window );">American dollar risk portion of cost exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfCostExposureMember', window );">American dollar risk portion of cost exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfCostExposureMember', window );">Euro risk portion of cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">82.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">2.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfCostExposureMember', window );">Euro risk portion of cost exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">82.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">2.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfCostExposureMember', window );">Euro risk portion of cost exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfCostExposureMember', window );">Euro risk portion of cost exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfCostExposureMember', window );">Euro risk portion of cost exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfCostExposureMember', window );">Euro risk portion of cost exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_MexicanPesosRiskPortionOfCostExposureMember', window );">Mexican Pesos risk portion of cost exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">401.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">2.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_MexicanPesosRiskPortionOfCostExposureMember', window );">Mexican Pesos risk portion of cost exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">398.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">2.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_MexicanPesosRiskPortionOfCostExposureMember', window );">Mexican Pesos risk portion of cost exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">3.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(0.1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_MexicanPesosRiskPortionOfCostExposureMember', window );">Mexican Pesos risk portion of cost exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_MexicanPesosRiskPortionOfCostExposureMember', window );">Mexican Pesos risk portion of cost exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_MexicanPesosRiskPortionOfCostExposureMember', window );">Mexican Pesos risk portion of cost exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalFixedAssetExposureMember', window );">Total fixed asset exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">579.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(8.9)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalFixedAssetExposureMember', window );">Total fixed asset exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">579.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(8.9)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalFixedAssetExposureMember', window );">Total fixed asset exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalFixedAssetExposureMember', window );">Total fixed asset exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalFixedAssetExposureMember', window );">Total fixed asset exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalFixedAssetExposureMember', window );">Total fixed asset exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember', window );">American Dollar risk portion of fixed assets exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">531.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(9.0)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember', window );">American Dollar risk portion of fixed assets exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">531.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(9.0)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember', window );">American Dollar risk portion of fixed assets exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember', window );">American Dollar risk portion of fixed assets exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember', window );">American Dollar risk portion of fixed assets exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember', window );">American Dollar risk portion of fixed assets exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfFixedAssetsExposureMember', window );">Euro risk portion of fixed assets exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">47.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">0.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfFixedAssetsExposureMember', window );">Euro risk portion of fixed assets exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">47.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">0.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfFixedAssetsExposureMember', window );">Euro risk portion of fixed assets exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfFixedAssetsExposureMember', window );">Euro risk portion of fixed assets exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfFixedAssetsExposureMember', window );">Euro risk portion of fixed assets exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfFixedAssetsExposureMember', window );">Euro risk portion of fixed assets exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalExpensesExposureMember', window );">Total expenses exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">177.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(1.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalExpensesExposureMember', window );">Total expenses exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">177.7<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(1.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalExpensesExposureMember', window );">Total expenses exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalExpensesExposureMember', window );">Total expenses exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalExpensesExposureMember', window );">Total expenses exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalExpensesExposureMember', window );">Total expenses exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheExpensesExposureMember', window );">American Dollar risk portion of the expenses exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">169.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(1.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheExpensesExposureMember', window );">American Dollar risk portion of the expenses exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">169.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(1.3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheExpensesExposureMember', window );">American Dollar risk portion of the expenses exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheExpensesExposureMember', window );">American Dollar risk portion of the expenses exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheExpensesExposureMember', window );">American Dollar risk portion of the expenses exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheExpensesExposureMember', window );">American Dollar risk portion of the expenses exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_RupeeRiskPortionOfTheExpensesExposureMember', window );">Rupee risk portion of the expenses exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">8.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_RupeeRiskPortionOfTheExpensesExposureMember', window );">Rupee risk portion of the expenses exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">8.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_RupeeRiskPortionOfTheExpensesExposureMember', window );">Rupee risk portion of the expenses exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_RupeeRiskPortionOfTheExpensesExposureMember', window );">Rupee risk portion of the expenses exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_RupeeRiskPortionOfTheExpensesExposureMember', window );">Rupee risk portion of the expenses exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_RupeeRiskPortionOfTheExpensesExposureMember', window );">Rupee risk portion of the expenses exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCashExposureMember', window );">Total cash exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">1,328.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(13.1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCashExposureMember', window );">Total cash exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">1,313.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(13.1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCashExposureMember', window );">Total cash exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCashExposureMember', window );">Total cash exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">15.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCashExposureMember', window );">Total cash exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalCashExposureMember', window );">Total cash exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheCashExposureMember', window );">American Dollar risk portion of the cash exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">1,313.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(13.1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheCashExposureMember', window );">American Dollar risk portion of the cash exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">1,313.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="num">(13.1)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheCashExposureMember', window );">American Dollar risk portion of the cash exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheCashExposureMember', window );">American Dollar risk portion of the cash exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheCashExposureMember', window );">American Dollar risk portion of the cash exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheCashExposureMember', window );">American Dollar risk portion of the cash exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheCashExposureMember', window );">Interest rate risk portion of the cash exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">15.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheCashExposureMember', window );">Interest rate risk portion of the cash exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheCashExposureMember', window );">Interest rate risk portion of the cash exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheCashExposureMember', window );">Interest rate risk portion of the cash exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">15.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheCashExposureMember', window );">Interest rate risk portion of the cash exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheCashExposureMember', window );">Interest rate risk portion of the cash exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalDebtsExposureMember', window );">Total debts exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">356.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">28.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalDebtsExposureMember', window );">Total debts exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalDebtsExposureMember', window );">Total debts exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalDebtsExposureMember', window );">Total debts exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalDebtsExposureMember', window );">Total debts exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">110.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">25.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalDebtsExposureMember', window );">Total debts exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">246.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">3.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheDebtsExposureMember', window );">Interest rate risk portion of the debts exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">356.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">28.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheDebtsExposureMember', window );">Interest rate risk portion of the debts exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheDebtsExposureMember', window );">Interest rate risk portion of the debts exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheDebtsExposureMember', window );">Interest rate risk portion of the debts exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheDebtsExposureMember', window );">Interest rate risk portion of the debts exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">110.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">25.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheDebtsExposureMember', window );">Interest rate risk portion of the debts exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">246.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">3.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalForeignInvestmentsExposureMember', window );">Total foreign investments exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">677.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalForeignInvestmentsExposureMember', window );">Total foreign investments exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">677.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalForeignInvestmentsExposureMember', window );">Total foreign investments exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalForeignInvestmentsExposureMember', window );">Total foreign investments exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalForeignInvestmentsExposureMember', window );">Total foreign investments exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalForeignInvestmentsExposureMember', window );">Total foreign investments exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalEquityExposureMember', window );">Total equity exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">69.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalEquityExposureMember', window );">Total equity exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">69.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalEquityExposureMember', window );">Total equity exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalEquityExposureMember', window );">Total equity exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalEquityExposureMember', window );">Total equity exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_TotalEquityExposureMember', window );">Total equity exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember', window );">American Dollar risk portion of the foreign investments exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">677.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember', window );">American Dollar risk portion of the foreign investments exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="nump">677.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember', window );">American Dollar risk portion of the foreign investments exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember', window );">American Dollar risk portion of the foreign investments exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember', window );">American Dollar risk portion of the foreign investments exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember', window );">American Dollar risk portion of the foreign investments exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NotionalAmount', window );">Notional value</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember', window );">Stock exchange price risk portion of the equity instrument exposure [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">69.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember', window );">Stock exchange price risk portion of the equity instrument exposure [member] | Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="nump">69.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember', window );">Stock exchange price risk portion of the equity instrument exposure [member] | Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember', window );">Stock exchange price risk portion of the equity instrument exposure [member] | Later than two years and not later than three years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember', window );">Stock exchange price risk portion of the equity instrument exposure [member] | Later than three years and not later than four years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TypesOfRisksAxis=abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember', window );">Stock exchange price risk portion of the equity instrument exposure [member] | Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue', window );">Fair value of hedging instruments</a></td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of financial instruments designated as hedging instruments. Hedging instruments are designated derivatives or (for a hedge of the risk of changes in foreign currency exchange rates only) designated non-derivative financial assets or non-derivative financial liabilities whose fair value or cash flows are expected to offset changes in the fair value or cash flows of a designated hedged item. [Refer: At fair value [member]; Derivatives [member]; Derivative financial assets; Derivative financial liabilities; Financial instruments, class [member]; Financial assets; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 22<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-02&amp;anchor=para_22_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialInstrumentsDesignatedAsHedgingInstrumentsAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The nominal or face amount of a financial instrument, used to calculate payments made on that instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 112<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_112_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NotionalAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_CommodityRiskPortionOfCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_CommodityRiskPortionOfCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_MexicanPesosRiskPortionOfCostExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_MexicanPesosRiskPortionOfCostExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalFixedAssetExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalFixedAssetExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfFixedAssetsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfFixedAssetsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_EuroRiskPortionOfFixedAssetsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalExpensesExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalExpensesExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheExpensesExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheExpensesExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_RupeeRiskPortionOfTheExpensesExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_RupeeRiskPortionOfTheExpensesExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalCashExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalCashExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheCashExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheCashExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheCashExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheCashExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalDebtsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalDebtsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheDebtsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_InterestRateRiskPortionOfTheDebtsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalForeignInvestmentsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalForeignInvestmentsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_TotalEquityExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_TotalEquityExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_AmericanDollarRiskPortionOfTheForeignInvestmentsExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TypesOfRisksAxis=abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TypesOfRisksAxis=abev_StockExchangePriceRiskPortionOfTheEquityInstrumentExposureMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>165
<FILENAME>R149.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6812311744">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 27 - Financial Instruments and Risks - Financial Instruments Recognized in the Financial Statements (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="nump">R$ 18,378.6<span></span>
</td>
<td class="nump">R$ 15,439.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="nump">22,036.6<span></span>
</td>
<td class="nump">24,423.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialLiabilitiesAxis=abev_TradePayablesAndPutOptionGrantedOnSubsidiaryAndOtherLiabilitiesMember', window );">Trade payables and put option granted on subsidiary and other liabilities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="nump">19,266.1<span></span>
</td>
<td class="nump">18,314.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialLiabilitiesAxis=abev_FinancialLiabilitiesDerivativesMember', window );">Financial liabilities, derivatives [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="nump">217.5<span></span>
</td>
<td class="nump">713.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialLiabilitiesAxis=abev_InterestbearingLoansAndBorrowingsMember', window );">Interest-bearing loans and borrowings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="nump">2,553.0<span></span>
</td>
<td class="nump">5,396.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember', window );">Financial liabilities at fair value through profit or loss, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="nump">112.0<span></span>
</td>
<td class="nump">301.2<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="nump">5,780.2<span></span>
</td>
<td class="nump">5,156.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember', window );">Financial liabilities at fair value through profit or loss, category [member] | Trade payables and put option granted on subsidiary and other liabilities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="nump">5,764.1<span></span>
</td>
<td class="nump">5,106.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember', window );">Financial liabilities at fair value through profit or loss, category [member] | Financial liabilities, derivatives [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="nump">16.1<span></span>
</td>
<td class="nump">49.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember', window );">Financial liabilities at fair value through profit or loss, category [member] | Interest-bearing loans and borrowings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=abev_FinancialLiabilitiesDerivativeHedgesCategoriesMember', window );">Financial liabilities, derivative hedges, categories [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="nump">285.1<span></span>
</td>
<td class="nump">194.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="nump">201.4<span></span>
</td>
<td class="nump">663.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=abev_FinancialLiabilitiesDerivativeHedgesCategoriesMember', window );">Financial liabilities, derivative hedges, categories [member] | Trade payables and put option granted on subsidiary and other liabilities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=abev_FinancialLiabilitiesDerivativeHedgesCategoriesMember', window );">Financial liabilities, derivative hedges, categories [member] | Financial liabilities, derivatives [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="nump">201.4<span></span>
</td>
<td class="nump">663.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=abev_FinancialLiabilitiesDerivativeHedgesCategoriesMember', window );">Financial liabilities, derivative hedges, categories [member] | Interest-bearing loans and borrowings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember', window );">Financial liabilities at amortised cost, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="nump">16,055.0<span></span>
</td>
<td class="nump">18,604.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember', window );">Financial liabilities at amortised cost, category [member] | Trade payables and put option granted on subsidiary and other liabilities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="nump">13,502.0<span></span>
</td>
<td class="nump">13,208.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember', window );">Financial liabilities at amortised cost, category [member] | Financial liabilities, derivatives [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember', window );">Financial liabilities at amortised cost, category [member] | Interest-bearing loans and borrowings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="nump">2,553.0<span></span>
</td>
<td class="nump">5,396.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=abev_FinancialAssetCashAndCashEquivalentsMember', window );">Financial asset, cash and cash equivalents [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="nump">10,354.5<span></span>
</td>
<td class="nump">7,876.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=abev_FinancialAssetCashAndCashEquivalentsMember', window );">Financial asset, cash and cash equivalents [member] | Financial liabilities at fair value through profit or loss, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=abev_FinancialAssetCashAndCashEquivalentsMember', window );">Financial asset, cash and cash equivalents [member] | Financial liabilities, derivative hedges, categories [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=abev_FinancialAssetCashAndCashEquivalentsMember', window );">Financial asset, cash and cash equivalents [member] | Financial liabilities at amortised cost, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=abev_FinancialAssetInvestmentSecuritiesMember', window );">Financial asset, investment securities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="nump">133.9<span></span>
</td>
<td class="nump">387.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=abev_FinancialAssetInvestmentSecuritiesMember', window );">Financial asset, investment securities [member] | Financial liabilities at fair value through profit or loss, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="nump">11.9<span></span>
</td>
<td class="nump">282.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=abev_FinancialAssetInvestmentSecuritiesMember', window );">Financial asset, investment securities [member] | Financial liabilities, derivative hedges, categories [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=abev_FinancialAssetInvestmentSecuritiesMember', window );">Financial asset, investment securities [member] | Financial liabilities at amortised cost, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember', window );">Trade receivables [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="nump">7,505.0<span></span>
</td>
<td class="nump">6,962.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember', window );">Trade receivables [member] | Financial liabilities at fair value through profit or loss, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember', window );">Trade receivables [member] | Financial liabilities, derivative hedges, categories [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember', window );">Trade receivables [member] | Financial liabilities at amortised cost, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember', window );">Derivatives [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="nump">385.2<span></span>
</td>
<td class="nump">212.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember', window );">Derivatives [member] | Financial liabilities at fair value through profit or loss, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="nump">100.1<span></span>
</td>
<td class="nump">18.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember', window );">Derivatives [member] | Financial liabilities, derivative hedges, categories [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="nump">285.1<span></span>
</td>
<td class="nump">194.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember', window );">Derivatives [member] | Financial liabilities at amortised cost, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_LoansAndReceivablesCategoryMember', window );">Loans and receivables, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="nump">17,859.5<span></span>
</td>
<td class="nump">14,839.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_LoansAndReceivablesCategoryMember', window );">Loans and receivables, category [member] | Trade payables and put option granted on subsidiary and other liabilities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_LoansAndReceivablesCategoryMember', window );">Loans and receivables, category [member] | Financial liabilities, derivatives [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_LoansAndReceivablesCategoryMember', window );">Loans and receivables, category [member] | Interest-bearing loans and borrowings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_LoansAndReceivablesCategoryMember', window );">Loans and receivables, category [member] | Financial asset, cash and cash equivalents [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="nump">10,354.5<span></span>
</td>
<td class="nump">7,876.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_LoansAndReceivablesCategoryMember', window );">Loans and receivables, category [member] | Financial asset, investment securities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_LoansAndReceivablesCategoryMember', window );">Loans and receivables, category [member] | Trade receivables [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="nump">7,505.0<span></span>
</td>
<td class="nump">6,962.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_LoansAndReceivablesCategoryMember', window );">Loans and receivables, category [member] | Derivatives [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_HeldtomaturityInvestmentsCategoryMember', window );">Held-to-maturity investments, category [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="nump">122.0<span></span>
</td>
<td class="nump">104.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_HeldtomaturityInvestmentsCategoryMember', window );">Held-to-maturity investments, category [member] | Trade payables and put option granted on subsidiary and other liabilities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_HeldtomaturityInvestmentsCategoryMember', window );">Held-to-maturity investments, category [member] | Financial liabilities, derivatives [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_HeldtomaturityInvestmentsCategoryMember', window );">Held-to-maturity investments, category [member] | Interest-bearing loans and borrowings [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract', window );"><strong>Financial liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_HeldtomaturityInvestmentsCategoryMember', window );">Held-to-maturity investments, category [member] | Financial asset, cash and cash equivalents [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_HeldtomaturityInvestmentsCategoryMember', window );">Held-to-maturity investments, category [member] | Financial asset, investment securities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="nump">122.0<span></span>
</td>
<td class="nump">104.3<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_HeldtomaturityInvestmentsCategoryMember', window );">Held-to-maturity investments, category [member] | Trade receivables [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_HeldtomaturityInvestmentsCategoryMember', window );">Held-to-maturity investments, category [member] | Derivatives [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DisclosureOfFinancialAssetsAbstract', window );"><strong>Financial assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssets', window );">Financial asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialAssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DisclosureOfFinancialLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DisclosureOfFinancialLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets that are: (a) cash; (b) an equity instrument of another entity; (c) a contractual right: (i) to receive cash or another financial asset from another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially favourable to the entity; or (d) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to receive a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose the entity&#8217;s own equity instruments do not include puttable financial instruments classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. [Refer: Financial instruments, class [member]; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35H<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35I<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35I&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35M<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35M&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35N<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35N&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialLiabilitiesAxis=abev_TradePayablesAndPutOptionGrantedOnSubsidiaryAndOtherLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialLiabilitiesAxis=abev_TradePayablesAndPutOptionGrantedOnSubsidiaryAndOtherLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialLiabilitiesAxis=abev_FinancialLiabilitiesDerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialLiabilitiesAxis=abev_FinancialLiabilitiesDerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialLiabilitiesAxis=abev_InterestbearingLoansAndBorrowingsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialLiabilitiesAxis=abev_InterestbearingLoansAndBorrowingsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLossCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=abev_FinancialLiabilitiesDerivativeHedgesCategoriesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialLiabilitiesAxis=abev_FinancialLiabilitiesDerivativeHedgesCategoriesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialLiabilitiesAxis=ifrs-full_FinancialLiabilitiesAtAmortisedCostCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=abev_FinancialAssetCashAndCashEquivalentsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=abev_FinancialAssetCashAndCashEquivalentsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=abev_FinancialAssetInvestmentSecuritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=abev_FinancialAssetInvestmentSecuritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_TradeReceivablesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfFinancialAssetsAxis=ifrs-full_DerivativesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_LoansAndReceivablesCategoryMember">
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<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_LoansAndReceivablesCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_HeldtomaturityInvestmentsCategoryMember">
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<td style="white-space:nowrap;">ifrs-full_CategoriesOfFinancialAssetsAxis=ifrs-full_HeldtomaturityInvestmentsCategoryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>166
<FILENAME>R150.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6810651328">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Note 27 - Financial Instruments and Risks - Fair Value Hierarchy (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss', window );">Financial asset at fair value through profit or loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 11.9<span></span>
</td>
<td class="nump">R$ 282.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivatives assets at fair value through profit or loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.1<span></span>
</td>
<td class="nump">18.4<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DerivativeFinancialAssetsHeldForHedgingOperationalHedges', window );">Derivatives - operational hedge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">285.1<span></span>
</td>
<td class="nump">194.5<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );"></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">397.1<span></span>
</td>
<td class="nump">495.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss', window );">Financial liabilities at fair value through profit and loss (i)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5,764.1<span></span>
</td>
<td class="nump">5,106.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivatives liabilities at fair value through profit or loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16.1<span></span>
</td>
<td class="nump">49.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DerivativeFinancialLiabilitiesHeldForHedgingOperationalHedge', window );">Derivatives liabilities - operational hedge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">201.4<span></span>
</td>
<td class="nump">654.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DerivativeFinancialLiabilitiesHeldForHedgingFairValueHedges', window );">Derivatives liabilities - fair value hedge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">8.7<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValue', window );"></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">5,981.6<span></span>
</td>
<td class="nump">5,819.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember', window );">Level 1 of fair value hierarchy [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss', window );">Financial asset at fair value through profit or loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">11.9<span></span>
</td>
<td class="nump">282.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivatives assets at fair value through profit or loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.1<span></span>
</td>
<td class="nump">2.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DerivativeFinancialAssetsHeldForHedgingOperationalHedges', window );">Derivatives - operational hedge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4.8<span></span>
</td>
<td class="nump">83.6<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );"></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16.8<span></span>
</td>
<td class="nump">369.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss', window );">Financial liabilities at fair value through profit and loss (i)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivatives liabilities at fair value through profit or loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1.7<span></span>
</td>
<td class="nump">9.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DerivativeFinancialLiabilitiesHeldForHedgingOperationalHedge', window );">Derivatives liabilities - operational hedge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">58.4<span></span>
</td>
<td class="nump">78.9<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DerivativeFinancialLiabilitiesHeldForHedgingFairValueHedges', window );">Derivatives liabilities - fair value hedge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValue', window );"></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">60.1<span></span>
</td>
<td class="nump">88.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember', window );">Level 2 of fair value hierarchy [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss', window );">Financial asset at fair value through profit or loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivatives assets at fair value through profit or loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">100.0<span></span>
</td>
<td class="nump">15.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DerivativeFinancialAssetsHeldForHedgingOperationalHedges', window );">Derivatives - operational hedge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">280.3<span></span>
</td>
<td class="nump">110.9<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );"></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">380.3<span></span>
</td>
<td class="nump">126.7<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss', window );">Financial liabilities at fair value through profit and loss (i)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivatives liabilities at fair value through profit or loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">14.4<span></span>
</td>
<td class="nump">40.0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DerivativeFinancialLiabilitiesHeldForHedgingOperationalHedge', window );">Derivatives liabilities - operational hedge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">143.0<span></span>
</td>
<td class="nump">575.9<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DerivativeFinancialLiabilitiesHeldForHedgingFairValueHedges', window );">Derivatives liabilities - fair value hedge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">8.7<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValue', window );"></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">157.4<span></span>
</td>
<td class="nump">624.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss', window );">Financial asset at fair value through profit or loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialAssets', window );">Derivatives assets at fair value through profit or loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DerivativeFinancialAssetsHeldForHedgingOperationalHedges', window );">Derivatives - operational hedge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialAssetsAtFairValue', window );"></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss', window );">Financial liabilities at fair value through profit and loss (i)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5,764.1<span></span>
</td>
<td class="nump">5,106.1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_DerivativeFinancialLiabilities', window );">Derivatives liabilities at fair value through profit or loss</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DerivativeFinancialLiabilitiesHeldForHedgingOperationalHedge', window );">Derivatives liabilities - operational hedge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DerivativeFinancialLiabilitiesHeldForHedgingFairValueHedges', window );">Derivatives liabilities - fair value hedge</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilitiesAtFairValue', window );"></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 5,764.1<span></span>
</td>
<td class="nump">R$ 5,106.1<span></span>
</td>
</tr>
<tr><td colspan="4"></td></tr>
<tr><td colspan="4"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Refers to the put option granted on subsidiary as described in Note 21 d(4).</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DerivativeFinancialAssetsHeldForHedgingOperationalHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of derivative financial assets held for hedging in operation hedges.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DerivativeFinancialAssetsHeldForHedgingOperationalHedges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DerivativeFinancialLiabilitiesHeldForHedgingFairValueHedges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of derivative financial liabilities held for hedging in fair value hedges.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DerivativeFinancialLiabilitiesHeldForHedgingFairValueHedges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DerivativeFinancialLiabilitiesHeldForHedgingOperationalHedge">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of derivative financial liabilities held for hedging in operational hedges.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DerivativeFinancialLiabilitiesHeldForHedgingOperationalHedge</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_DerivativeFinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial liabilities classified as derivative instruments. [Refer: Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_DerivativeFinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of financial assets. [Refer: At fair value [member]; Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial assets that are measured at fair value and for which gains (losses) are recognised in profit or loss. A financial asset shall be measured at fair value through profit or loss unless it is measured at amortised cost or at fair value through other comprehensive income. A gain (loss) on a financial asset measured at fair value shall be recognised in profit or loss unless it is part of a hedging relationship, it is an investment in an equity instrument for which the entity has elected to present gains and losses in other comprehensive income or it is a financial asset measured at fair value through other comprehensive income. [Refer: At fair value [member]; Financial assets]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_8_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialAssetsAtFairValueThroughProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilitiesAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of financial liabilities. [Refer: At fair value [member]; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilitiesAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of financial liabilities that meet either of the following conditions: (a) they meet the definition of held for trading; or (b) upon initial recognition they are designated by the entity as at fair value through profit or loss. An entity may use this designation only when permitted by paragraph 4.3.5 of IFRS 9 (embedded derivatives) or when doing so results in more relevant information, because either: (a) it eliminates or significantly reduces a measurement or recognition inconsistency (sometimes referred to as &#8216;an accounting mismatch&#8217;) that would otherwise arise from measuring assets or liabilities or recognising the gains and losses on them on different bases; or (b) a group of financial liabilities or financial assets and financial liabilities is managed and its performance is evaluated on a fair value basis, in accordance with a documented risk management or investment strategy, and information about the group is provided internally on that basis to the entity&#8217;s key management personnel (as defined in IAS 24). [Refer: At fair value [member]; Key management personnel of entity or parent [member]; Derivatives [member]; Financial assets; Financial liabilities]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 8<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_8_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilitiesAtFairValueThroughProfitOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level1OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level2OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802304960">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 27 - Financial Instruments and Risks - Reconciliation of Changes in the Categorization of Level 3 (Details)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="2">12 Months Ended</th>
</tr>
<tr><th class="th" colspan="2">
<div>Dec. 31, 2017 </div>
<div>BRL (R$)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liabilities at December 31, 2016 (i)</a></td>
<td class="nump">R$ 24,423.9<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liabilities at December 31, 2017 (i)</a></td>
<td class="nump">22,036.6<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember', window );">Level 3 of fair value hierarchy [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liabilities at December 31, 2016 (i)</a></td>
<td class="nump">5,106.1<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersIntoLevel3OfFairValueHierarchyLiabilities', window );">Acquisition of investments</a></td>
<td class="nump">7.4<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_LossesGainsRecognizedInTheYearFairValueMeasurementLiabilities', window );">Total gains and losses in the year</a></td>
<td class="nump">650.6<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementLiabilities', window );">Losses recognized in net income</a></td>
<td class="nump">359.1<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GainsLossesRecognisedEquityFairValueMeasurementLiabilities', window );">Losses recognized in equity</a></td>
<td class="nump">291.5<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_FinancialLiabilities', window );">Financial liabilities at December 31, 2017 (i)</a></td>
<td class="nump">R$ 5,764.1<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">The liability was recorded under "Trade payables and put option granted on subsidiary and other liabilities" on the balance sheet.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_GainsLossesRecognisedEquityFairValueMeasurementLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in equity on the fair value measurement of liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_GainsLossesRecognisedEquityFairValueMeasurementLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_LossesGainsRecognizedInTheYearFairValueMeasurementLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised on the fair value measurement of liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_LossesGainsRecognizedInTheYearFairValueMeasurementLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_FinancialLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that are: (a) a contractual obligation: (i) to deliver cash or another financial asset to another entity; or (ii) to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavourable to the entity; or (b) a contract that will, or may be, settled in the entity&#8217;s own equity instruments and is: (i) a non-derivative for which the entity is, or may be, obliged to deliver a variable number of the entity&#8217;s own equity instruments; or (ii) a derivative that will, or may be, settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the entity&#8217;s own equity instruments. For this purpose, rights, options or warrants to acquire a fixed number of the entity&#8217;s own equity instruments for a fixed amount of any currency are equity instruments if the entity offers the rights, options or warrants pro rata to all of its existing owners of the same class of its own non-derivative equity instruments. Also, for those purposes the entity&#8217;s own equity instruments do not include puttable financial instruments that are classified as equity instruments in accordance with paragraphs 16A-16B of IAS 32, instruments that impose on the entity an obligation to deliver to another party a pro rata share of the net assets of the entity only on liquidation and are classified as equity instruments in accordance with paragraphs 16C-16D of IAS 32, or instruments that are contracts for the future receipt or delivery of the entity&#8217;s own equity instruments. As an exception, an instrument that meets the definition of a financial liability is classified as an equity instrument if it has all the features and meets the conditions in paragraphs 16A-16B or paragraphs 16C-16D of IAS 32. [Refer: Financial instruments, class [member]; Financial assets; Derivatives [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 25<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_25&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_FinancialLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains (losses) recognised in profit or loss on the fair value measurement of liabilities. [Refer: At fair value [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -Clause i<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e_i&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GainsLossesRecognisedInProfitOrLossFairValueMeasurementLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TransfersIntoLevel3OfFairValueHierarchyLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of transfers of liabilities into Level 3 of the fair value hierarchy. [Refer: Level 3 of fair value hierarchy [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 13<br> -IssueDate 2017-01-01<br> -Paragraph 93<br> -Subparagraph e<br> -Clause iv<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=13&amp;date=2017-03-01&amp;anchor=para_93_e_iv&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TransfersIntoLevel3OfFairValueHierarchyLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LevelsOfFairValueHierarchyAxis=ifrs-full_Level3OfFairValueHierarchyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801917632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 28 - Operating Leases (Details Textual) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_LeaseAndSubleasePaymentsRecognisedAsExpense', window );">Total lease and sublease payments recognised as expense</a></td>
<td class="nump">R$ 39.0<span></span>
</td>
<td class="nump">R$ 43.4<span></span>
</td>
<td class="nump">R$ 58.7<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_LeaseAndSubleasePaymentsRecognisedAsExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of payments on leases and subleases recognised as an expense by the lessee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2019-01-01<br> -Name IAS<br> -Number 17<br> -IssueDate 2017-01-01<br> -Paragraph 35<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=17&amp;date=2017-03-02&amp;anchor=para_35_c&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_LeaseAndSubleasePaymentsRecognisedAsExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>169
<FILENAME>R153.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6804953984">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 28 - Operating Leases - Maturities (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MinimumFinanceLeasePaymentsPayable', window );">Operating leases maturities</a></td>
<td class="nump">R$ 236.2<span></span>
</td>
<td class="nump">R$ 154.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MinimumFinanceLeasePaymentsPayable', window );">Operating leases maturities</a></td>
<td class="nump">35.7<span></span>
</td>
<td class="nump">26.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember', window );">Later than one year and not later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MinimumFinanceLeasePaymentsPayable', window );">Operating leases maturities</a></td>
<td class="nump">129.4<span></span>
</td>
<td class="nump">61.4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember', window );">Later than five years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MinimumFinanceLeasePaymentsPayable', window );">Operating leases maturities</a></td>
<td class="nump">R$ 71.1<span></span>
</td>
<td class="nump">R$ 66.5<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MinimumFinanceLeasePaymentsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of payments over the finance lease term that the lessee is or can be required to make, excluding contingent rent, costs for services and taxes to be paid by, and reimbursed to, the lessor, together with any amounts guaranteed by the lessee or by a party related to the lessee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2019-01-01<br> -Name IAS<br> -Number 17<br> -IssueDate 2017-01-01<br> -Paragraph 31<br> -Subparagraph b<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=17&amp;date=2017-03-02&amp;anchor=para_31_b&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MinimumFinanceLeasePaymentsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanFiveYearsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>170
<FILENAME>R154.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6818741296">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 29 - Collateral and Contractual Commitments with Suppliers, Advances From Customers and Other (Details Textual) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CollateralAndOtherCommitments', window );">Collateral and other commitments</a></td>
<td class="nump">R$ 1,449.0<span></span>
</td>
<td class="nump">R$ 1,805.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CashGuarantees', window );">Cash guarantees</a></td>
<td class="nump">551.0<span></span>
</td>
<td class="nump">571.3<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_GuaranteesHeldForDerivativeInstruments', window );">Guarantees held for derivative instruments</a></td>
<td class="nump">R$ 608.3<span></span>
</td>
<td class="nump">R$ 486.8<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CashGuarantees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recorded for cash guarantees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CashGuarantees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CollateralAndOtherCommitments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recorded for collateral and other commitments outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CollateralAndOtherCommitments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_GuaranteesHeldForDerivativeInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of guarantees held for derivative instrument requirements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_GuaranteesHeldForDerivativeInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>171
<FILENAME>R155.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801824896">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Note 29 - Collateral and Contractual Commitments with Suppliers, Advances From Customers and Other - Components of Collateral and Commiments (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_AssetsHeldAsCollateralPermittedToBeSoldOrRepledgedAtFairValue', window );">Collateral given for own liabilities</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 606.3<span></span>
</td>
<td class="nump">R$ 1,051.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherCommitmentsHeld', window );">Other commitments</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">842.7<span></span>
</td>
<td class="nump">754.3<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CollateralAndOtherCommitments', window );"></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,449.0<span></span>
</td>
<td class="nump">1,805.8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CommitmentsWithSuppliers', window );">Commitments with suppliers (i)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">11,096.3<span></span>
</td>
<td class="nump">4,019.2<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts', window );">Commitments - Bond 2017</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="nump">300.0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TotalExposureLiabilities', window );"></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 11,096.3<span></span>
</td>
<td class="nump">R$ 4,319.2<span></span>
</td>
</tr>
<tr><td colspan="3"></td></tr>
<tr><td colspan="3"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">Variation refers, mainly, a new contracts with a new suppliers of aluminum in 2017.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CollateralAndOtherCommitments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount recorded for collateral and other commitments outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CollateralAndOtherCommitments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CommitmentsWithSuppliers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount committed to suppliers.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CommitmentsWithSuppliers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_OtherCommitmentsHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other commitments held for a purpose restricting the use of cash.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_OtherCommitmentsHeld</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TotalExposureLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that the entity may have to pay due to exposure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TotalExposureLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_AssetsHeldAsCollateralPermittedToBeSoldOrRepledgedAtFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of collateral held that is permitted to be sold or repledged in the absence of default by the owner of the collateral. [Refer: At fair value [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 15<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_15_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_AssetsHeldAsCollateralPermittedToBeSoldOrRepledgedAtFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the exposure to credit risk on loan commitments and financial guarantee contracts. [Refer: Loan commitments [member]; Financial guarantee contracts [member]; Credit risk [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35H<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35H&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35I<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35I&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Effective 2018-01-01<br> -Name IFRS<br> -Number 7<br> -IssueDate 2017-01-01<br> -Paragraph 35M<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=7&amp;date=2017-03-01&amp;anchor=para_35M&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ExposureToCreditRiskOnLoanCommitmentsAndFinancialGuaranteeContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6800685440">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 29 - Collateral and Contractual Commitments with Suppliers, Advances From Customers and Other - Future Contractual Commitments (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TotalExposureLiabilities', window );">Future contractual commitments</a></td>
<td class="nump">R$ 11,096.3<span></span>
</td>
<td class="nump">R$ 4,319.2<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember', window );">Not later than one year [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TotalExposureLiabilities', window );">Future contractual commitments</a></td>
<td class="nump">3,812.8<span></span>
</td>
<td class="nump">3,325.7<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember', window );">Later than one year and not later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TotalExposureLiabilities', window );">Future contractual commitments</a></td>
<td class="nump">2,995.7<span></span>
</td>
<td class="nump">420.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_MaturityAxis=abev_LaterThanTwoYearsMember', window );">Later than two years [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TotalExposureLiabilities', window );">Future contractual commitments</a></td>
<td class="nump">R$ 4,287.8<span></span>
</td>
<td class="nump">R$ 572.7<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TotalExposureLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities that the entity may have to pay due to exposure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TotalExposureLiabilities</td>
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<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_NotLaterThanOneYearMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_MaturityAxis=abev_LaterThanTwoYearsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6810939248">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 30 - Contingent Liability (Details Textual) - BRL (R$)<br> shares in Millions, R$ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 29, 2014</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Nov. 30, 2017</div></th>
<th class="th"><div>Aug. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 60,520.0<span></span>
</td>
<td class="nump">R$ 52,450.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Total provisions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">681.6<span></span>
</td>
<td class="nump">934.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_TaxContingentLiabilityMember', window );">Tax contingent liability [member] | Cervecer&#237;a Nacional Dominicana S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 1,100.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_TaxContingentLiabilityMember', window );">Tax contingent liability [member] | Anheuser-Busch Inbev Services LLC [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,300.0<span></span>
</td>
<td class="nump">R$ 7,800.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_EstimatedFinancialEffectOfContingentLiabilitiesPercentageReimbursement', window );">Estimated financial effect of contingent liabilities, percentage reimbursement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_TaxContingentLiabilityMember', window );">Tax contingent liability [member] | Beverage Associates Holding Limited [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,600.0<span></span>
</td>
<td class="nump">R$ 1,500.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_TaxContingentLiabilityMember', window );">Tax contingent liability [member] | Brazilian Tax authorities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">549.4<span></span>
</td>
<td class="nump">522.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AllegedAmountExpendedAndDeductedIncorrectly', window );">Alleged amount expended and deducted incorrectly</a></td>
<td class="nump">R$ 1,300.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_TaxContingentLiabilityMember', window );">Tax contingent liability [member] | Brazilian Tax authorities [member] | AROSUCO AROMAS E SUCOS LTDA. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">616.1<span></span>
</td>
<td class="nump">569,600.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_TaxContingentLiabilityMember', window );">Tax contingent liability [member] | Brazilian Tax authorities [member] | CRBS S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,600.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_TaxContingentLiabilityMember', window );">Tax contingent liability [member] | State of Minas Gerais [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxAssessmentFromTaxBody', window );">Tax assessment from tax body</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 1,400.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_TaxContingentLiabilityMember', window );">Tax contingent liability [member] | Rio de Janeiro [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TaxAssessmentFromTaxBody', window );">Tax assessment from tax body</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">900.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_TaxContingentLiabilityMember', window );">Tax contingent liability [member] | State of Minas Gerais and Rio de Janeiro [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,800.0<span></span>
</td>
<td class="nump">4,500.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Total provisions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember', window );">Legal proceedings contingent liability [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,071.5<span></span>
</td>
<td class="nump">4,417.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember', window );">Legal proceedings contingent liability [member] | Department of Federal Revenue of Brazil [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,100.0<span></span>
</td>
<td class="nump">4,900.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Provisions', window );">Total provisions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">44.2<span></span>
</td>
<td class="nump">41.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember', window );">Legal proceedings contingent liability [member] | Superior Court of Justice and the Brazilian Supreme Court [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">599.7<span></span>
</td>
<td class="nump">559.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PaymentsForDebtsNetOfTaxIncentives', window );">Payments for debts, net of tax incentives</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">271.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember', window );">Legal proceedings contingent liability [member] | States of S&#227;o Paulo, Rio de Janeiro, Minas Gerais and other States [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,900.0<span></span>
</td>
<td class="nump">1,800.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember', window );">Legal proceedings contingent liability [member] | Certain holders of warrants issued by Old Ambev [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 846.9<span></span>
</td>
<td class="nump">761.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_CommonSharesAllegedAmountRequested', window );">Common shares alleged amount requested</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">172.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember', window );">Legal proceedings contingent liability [member] | Claimants in Canada [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PlaintiffAmountSought', window );">Plaintiff, amount sought</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 3,700.0<span></span>
</td>
<td class="nump">3,400.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_TaxContingentLiabilityRelatedToExpensesMember', window );">Tax contingent liability related to expenses [member] | Brazilian Tax authorities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,400.0<span></span>
</td>
<td class="nump">5,600.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_TaxContingentLiabilityRelatedToTaxesPaidAbroadMember', window );">Tax contingent liability related to taxes paid abroad [member] | Brazilian Tax authorities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,200.0<span></span>
</td>
<td class="nump">2,800.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_LegalProceedingsContingentLiabilityRelatedToTheIntegrationProgrammesocialSecurityFinancingLevyMember', window );">Legal proceedings contingent liability related to the Integration Programme/Social Security Financing Levy [member] | Brazilian federal tax authorities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,100.0<span></span>
</td>
<td class="nump">1,500.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_TaxContingentLiabilityRelatingToManausFreeTradeZoneZfmMember', window );">Tax contingent liability relating to Manaus Free Trade Zone - ZFM [member] | Brazilian federal tax authorities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">900.0<span></span>
</td>
<td class="nump">735.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_TaxContingentLiabilityRelatingToManausFreeTradeZoneZfmMember', window );">Tax contingent liability relating to Manaus Free Trade Zone - ZFM [member] | State of Minas Gerais [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,200.0<span></span>
</td>
<td class="nump">2,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_TaxContingentLiabilityRelatingToIpiExciseTaxesMember', window );">Tax contingent liability relating to IPI excise taxes [member] | Brazilian federal tax authorities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimated financial effect of contingent liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 1,500.0<span></span>
</td>
<td class="nump">R$ 1,500.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AllegedAmountExpendedAndDeductedIncorrectly">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The alleged amount expended and deducted incorrectly.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AllegedAmountExpendedAndDeductedIncorrectly</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_CommonSharesAllegedAmountRequested">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number common shares requested during a litigation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_CommonSharesAllegedAmountRequested</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_EstimatedFinancialEffectOfContingentLiabilitiesPercentageReimbursement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage reimbursement possible due to the financial effect of contingent liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_EstimatedFinancialEffectOfContingentLiabilitiesPercentageReimbursement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PaymentsForDebtsNetOfTaxIncentives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The payments made to pay for debts, net of tax incentives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PaymentsForDebtsNetOfTaxIncentives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PlaintiffAmountSought">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount sought from the plaintiff in a litigation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PlaintiffAmountSought</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TaxAssessmentFromTaxBody">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount deemed assessed for taxing purposes from the regional taxing entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TaxAssessmentFromTaxBody</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the estimated financial effect of contingent liabilities. [Refer: Contingent liabilities [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2017-01-01<br> -Paragraph 86<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=37&amp;date=2017-03-01&amp;anchor=para_86_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EstimatedFinancialEffectOfContingentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Provisions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities of uncertain timing or the amount recognised when: (a) the entity has a present obligation (legal or constructive) as a result of a past event; (b) it is probable (ie more likely than not) that an outflow of resources embodying economic benefits will be required to settle the obligation; and (c) a reliable estimate can be made of the amount of the obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 54<br> -Subparagraph l<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_54_l&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Provisions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_TaxContingentLiabilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_TaxContingentLiabilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceraNacionalDominicanaSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceraNacionalDominicanaSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_AnheuserBuschInbevServicesLlcMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_AnheuserBuschInbevServicesLlcMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_BeverageAssociatesHoldingLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_BeverageAssociatesHoldingLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_BrazilianTaxAuthoritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_BrazilianTaxAuthoritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_ArosucoAromasESucosLtdaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_ArosucoAromasESucosLtdaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CrbsSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CrbsSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_StateOfMinasGeraisMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_StateOfMinasGeraisMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_RioDeJaneiroMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_RioDeJaneiroMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_StateOfMinasGeraisAndRioDeJaneiroMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_StateOfMinasGeraisAndRioDeJaneiroMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_DepartmentOfFederalRevenueOfBrazilMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_DepartmentOfFederalRevenueOfBrazilMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_SuperiorCourtOfJusticeAndTheBrazilianSupremeCourtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_SuperiorCourtOfJusticeAndTheBrazilianSupremeCourtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_StatesOfSoPauloRioDeJaneiroMinasGeraisAndOtherStatesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_StatesOfSoPauloRioDeJaneiroMinasGeraisAndOtherStatesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_CertainHoldersOfWarrantsIssuedByOldAmbevMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_CertainHoldersOfWarrantsIssuedByOldAmbevMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_ClaimantsInCanadaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_ClaimantsInCanadaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_TaxContingentLiabilityRelatedToExpensesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_TaxContingentLiabilityRelatedToExpensesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_TaxContingentLiabilityRelatedToTaxesPaidAbroadMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_TaxContingentLiabilityRelatedToTaxesPaidAbroadMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_LegalProceedingsContingentLiabilityRelatedToTheIntegrationProgrammesocialSecurityFinancingLevyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_LegalProceedingsContingentLiabilityRelatedToTheIntegrationProgrammesocialSecurityFinancingLevyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_BrazilianFederalTaxAuthoritiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_BrazilianFederalTaxAuthoritiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_TaxContingentLiabilityRelatingToManausFreeTradeZoneZfmMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_TaxContingentLiabilityRelatingToManausFreeTradeZoneZfmMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_TaxContingentLiabilityRelatingToIpiExciseTaxesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_TaxContingentLiabilityRelatingToIpiExciseTaxesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>174
<FILENAME>R158.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6822862016">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Note 30 - Contingent Liability - Estimates of Amounts of Possible Losses (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimates of amounts of possible losses</a></td>
<td class="nump">R$ 60,520.0<span></span>
</td>
<td class="nump">R$ 52,450.5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_IRPFAndCSLLTaxContingentLiabilityMember', window );">IRPJ and CSLL tax contingent liability [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimates of amounts of possible losses</a></td>
<td class="nump">31,757.3<span></span>
</td>
<td class="nump">28,934.8<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_PISAndCOFINSTaxContingentLiabilityMember', window );">PIS and COFINS tax contingent liability [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimates of amounts of possible losses</a></td>
<td class="nump">3,485.2<span></span>
</td>
<td class="nump">1,971.1<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_ICMSAndIPIContingentLiabilityMember', window );">ICMS and IPI contingent liability [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimates of amounts of possible losses</a></td>
<td class="nump">19,805.5<span></span>
</td>
<td class="nump">16,046.9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_LaborContingentLiabilityMember', window );">Labor contingent liability [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimates of amounts of possible losses</a></td>
<td class="nump">287.1<span></span>
</td>
<td class="nump">222.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember', window );">Legal proceedings contingent liability [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimates of amounts of possible losses</a></td>
<td class="nump">4,071.5<span></span>
</td>
<td class="nump">4,417.6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_OtherContingentLiabilitiesMember', window );">Other contingent liabilities [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities', window );">Estimates of amounts of possible losses</a></td>
<td class="nump">R$ 1,113.4<span></span>
</td>
<td class="nump">R$ 858.1<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_EstimatedFinancialEffectOfContingentLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of the estimated financial effect of contingent liabilities. [Refer: Contingent liabilities [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 37<br> -IssueDate 2017-01-01<br> -Paragraph 86<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=37&amp;date=2017-03-01&amp;anchor=para_86_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_EstimatedFinancialEffectOfContingentLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_IRPFAndCSLLTaxContingentLiabilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_IRPFAndCSLLTaxContingentLiabilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_PISAndCOFINSTaxContingentLiabilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_PISAndCOFINSTaxContingentLiabilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_ICMSAndIPIContingentLiabilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_ICMSAndIPIContingentLiabilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_LaborContingentLiabilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=abev_LaborContingentLiabilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_LegalProceedingsContingentLiabilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_OtherContingentLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ClassesOfContingentLiabilitiesAxis=ifrs-full_OtherContingentLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>175
<FILENAME>R159.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802385408">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 31 - Non-cash Items - Investment and Financing Activities Not Involving Cash (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NoncashItemsAcquisitionOfPropertyPlantAndEquipment', window );">Acquisition of property, plant and equipment</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">R$ 105.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NoncashItemsAcquisitionOfInvestmentsPayables', window );">Acquisition of investments payables</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">208.7<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NoncashItemsCashFinancingCostOtherThanInterests', window );">Cash financing cost other than interests</a></td>
<td class="nump">42.3<span></span>
</td>
<td class="nump">37.7<span></span>
</td>
<td class="nump">1,752.3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NoncashItemsFederalTaxAmnestyProgram', window );">PERT 2017</a></td>
<td class="nump">199.7<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NoncashItemsReclassificationOfFinanceCashFlowToOperationalCashFlow', window );">Fair value of option granted</a></td>
<td class="nump">221.8<span></span>
</td>
<td class="nump">205.1<span></span>
</td>
<td class="nump">144.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NoncashItemsOthers', window );">Others</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">R$ 41.1<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NoncashItemsAcquisitionOfInvestmentsPayables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The acquisition of investments payables in a non-cash transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NoncashItemsAcquisitionOfInvestmentsPayables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NoncashItemsAcquisitionOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The acquisition of property, plant and equipment in a non-cash transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NoncashItemsAcquisitionOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NoncashItemsCashFinancingCostOtherThanInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash financing cost other than interests in a non-cash transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NoncashItemsCashFinancingCostOtherThanInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NoncashItemsFederalTaxAmnestyProgram">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The non-cash adjustment for the federal tax amnesty program.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NoncashItemsFederalTaxAmnestyProgram</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NoncashItemsOthers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other non-cash items.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NoncashItemsOthers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NoncashItemsReclassificationOfFinanceCashFlowToOperationalCashFlow">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The reclassification of finance cash flow to operational cash flow.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NoncashItemsReclassificationOfFinanceCashFlowToOperationalCashFlow</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>176
<FILENAME>R160.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6809149568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 32 - Related Parties (Details Textual) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_FundacaoZerrennerMember', window );">Fundacao Zerrenner [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_PercentageOfOwnershipHeldByARelatedParty', window );">Percentage of ownership held by a related party</a></td>
<td class="nump">10.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ExpensesIncurredByARelatedParty', window );">Expenses incurred by a related party</a></td>
<td class="nump">R$ 300.1<span></span>
</td>
<td class="nump">R$ 266.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RecognisedFinanceLeaseAsAssets', window );">Recognised finance lease as assets</a></td>
<td class="nump">R$ 63.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AssetLeasingAgreementTerm', window );">Asset leasing agreement, term</a></td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_AnnualLeasePayment', window );">Annual lease payment</a></td>
<td class="nump">R$ 3.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_FundacaoZerrennerMember', window );">Fundacao Zerrenner [member] | Active employees [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ExpensesIncurredByARelatedParty', window );">Expenses incurred by a related party</a></td>
<td class="nump">264.3<span></span>
</td>
<td class="nump">231.9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_FundacaoZerrennerMember', window );">Fundacao Zerrenner [member] | Retirees [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_ExpensesIncurredByARelatedParty', window );">Expenses incurred by a related party</a></td>
<td class="nump">35.8<span></span>
</td>
<td class="nump">34.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschIncMember', window );">Anheuser-Busch, Inc [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersUnderLicenseAgreementsToEntityRelatedPartyTransactions', window );">Transfers under licence agreements to entity, related party transactions</a></td>
<td class="nump">R$ 1.9<span></span>
</td>
<td class="nump">2.0<span></span>
</td>
<td class="nump">R$ 52.8<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_TransfersUnderLicenseAgreementsFromEntityRelatedPartyTransactions', window );">Transfers under licence agreements from entity, related party transactions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 314.5<span></span>
</td>
<td class="nump">R$ 374.0<span></span>
</td>
<td class="nump">R$ 434.8<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AnnualLeasePayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount payable annually for a lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AnnualLeasePayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_AssetLeasingAgreementTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The term of an asset leasing agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_AssetLeasingAgreementTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_ExpensesIncurredByARelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expenses incurred by a related party during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_ExpensesIncurredByARelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_PercentageOfOwnershipHeldByARelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of ownership of the company that is held by a related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_PercentageOfOwnershipHeldByARelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RecognisedFinanceLeaseAsAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets recognised by the entity, which are leased under finance leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Note Expiry date 2019-01-01<br> -Name IAS<br> -Number 17<br> -IssueDate 2017-01-01<br> -Paragraph 31<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=17&amp;date=2017-03-02&amp;anchor=para_31_a&amp;doctype=Standard&amp;book=B<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RecognisedFinanceLeaseAsAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TransfersUnderLicenseAgreementsFromEntityRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of transfers under licence agreements from the entity in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Paragraph 21<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=para_21_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TransfersUnderLicenseAgreementsFromEntityRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_TransfersUnderLicenseAgreementsToEntityRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of transfers under licence agreements to the entity in related party transactions. [Refer: Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Paragraph 21<br> -Subparagraph f<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=para_21_f&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_TransfersUnderLicenseAgreementsToEntityRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_FundacaoZerrennerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_FundacaoZerrennerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_ActiveEmployeesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_ActiveEmployeesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_RetireesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_RetireesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>177
<FILENAME>R161.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6801875920">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 32 - Related Parties - Expenses Realted to Management Members (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits', window );">Short-term benefits (i)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 33.4<span></span>
</td>
<td class="nump">R$ 21.7<span></span>
</td>
<td class="nump">R$ 32.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment', window );">Share-based payments (ii)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[2]</sup></td>
<td class="nump">38.9<span></span>
</td>
<td class="nump">36.2<span></span>
</td>
<td class="nump">39.0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_KeyManagementPersonnelCompensation', window );">Total key management remuneration</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">R$ 72.3<span></span>
</td>
<td class="nump">R$ 57.9<span></span>
</td>
<td class="nump">R$ 71.1<span></span>
</td>
</tr>
<tr><td colspan="5"></td></tr>
<tr><td colspan="5"><table class="outerFootnotes" width="100%">
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">These correspond substantially to management's salaries and profit sharing (including performance bonuses).</td>
</tr>
<tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[2]</td>
<td style="vertical-align: top;" valign="top">These correspond to the compensation cost of stock options and restricted stocks granted to management. These amounts exclude remuneration paid to members of the Fiscal Council.</td>
</tr>
</table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=para_17&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of share-based payments. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph e<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=para_17_e&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of compensation to key management personnel in the form of short-term employee benefits. [Refer: Key management personnel of entity or parent [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=para_17_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>178
<FILENAME>R162.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6811802864">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Note 32 - Related Parties - Transactions With Related Parties (Details) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th" colspan="2"><div>Dec. 31, 2017</div></th>
<th class="th"><div>Dec. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradeReceivablesRelatedPartyTransactions', window );">Trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">R$ 130.6<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">R$ 37.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradeReceivablesRelatedPartyTransactions', window );">Other trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">137.6<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">284.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradePayablesRelatedPartyTransactions', window );">Trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(1,435.6)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(1,075.8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradePayablesRelatedPartyTransactions', window );">Other trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(295.7)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(495.0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions', window );">Borrowings and interest payable, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(48.3)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(30.5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsPayableRelatedPartyTransactions', window );">Dividends payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(680.8)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(680.8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions', window );">Buying/service fees/rentals, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(1,186.9)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(1,023.9)<span></span>
</td>
<td class="num">R$ (942.1)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sales, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">73.3<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">78.1<span></span>
</td>
<td class="nump">50.8<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RoyaltiesAndBenefitsRelatedPartyTransactions', window );">Royalties/benefits, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(366.2)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(371.9)<span></span>
</td>
<td class="num">(377.6)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NetFinanceCostRelatedPartyTransactions', window );">Net finance cost, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(16.8)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(26.0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschInBevNvMember', window );">Anheuser-Busch InBev N.V. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradeReceivablesRelatedPartyTransactions', window );">Trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1.2<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">6.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradeReceivablesRelatedPartyTransactions', window );">Other trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">33.6<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">13.4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradePayablesRelatedPartyTransactions', window );">Trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(363.0)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(308.9)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradePayablesRelatedPartyTransactions', window );">Other trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(1.7)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(0.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions', window );">Borrowings and interest payable, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsPayableRelatedPartyTransactions', window );">Dividends payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions', window );">Buying/service fees/rentals, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(55.3)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sales, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RoyaltiesAndBenefitsRelatedPartyTransactions', window );">Royalties/benefits, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(35.5)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschProcurementMember', window );">Anheuser-Busch Procurement [Member</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradeReceivablesRelatedPartyTransactions', window );">Trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">8.9<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradeReceivablesRelatedPartyTransactions', window );">Other trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.1<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradePayablesRelatedPartyTransactions', window );">Trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradePayablesRelatedPartyTransactions', window );">Other trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions', window );">Borrowings and interest payable, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsPayableRelatedPartyTransactions', window );">Dividends payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions', window );">Buying/service fees/rentals, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5.8)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sales, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">20.8<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RoyaltiesAndBenefitsRelatedPartyTransactions', window );">Royalties/benefits, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NetFinanceCostRelatedPartyTransactions', window );">Net finance cost, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschPackagingGroupIncMember', window );">Anheuser-Busch Packaging Group Inc. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradeReceivablesRelatedPartyTransactions', window );">Trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradeReceivablesRelatedPartyTransactions', window );">Other trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradePayablesRelatedPartyTransactions', window );">Trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(31.3)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradePayablesRelatedPartyTransactions', window );">Other trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions', window );">Borrowings and interest payable, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsPayableRelatedPartyTransactions', window );">Dividends payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions', window );">Buying/service fees/rentals, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(32.8)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sales, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RoyaltiesAndBenefitsRelatedPartyTransactions', window );">Royalties/benefits, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NetFinanceCostRelatedPartyTransactions', window );">Net finance cost, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschInbevUsaLlcMember', window );">Anheuser-Busch Inbev USA LLC [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradeReceivablesRelatedPartyTransactions', window );">Trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">14.1<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">19.7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradeReceivablesRelatedPartyTransactions', window );">Other trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">16.3<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">18.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradePayablesRelatedPartyTransactions', window );">Trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(375.7)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(247.4)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradePayablesRelatedPartyTransactions', window );">Other trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(8.7)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(1.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions', window );">Borrowings and interest payable, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsPayableRelatedPartyTransactions', window );">Dividends payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions', window );">Buying/service fees/rentals, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(258.7)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(206.0)<span></span>
</td>
<td class="num">(124.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sales, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">42.5<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">52.3<span></span>
</td>
<td class="nump">49.0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RoyaltiesAndBenefitsRelatedPartyTransactions', window );">Royalties/benefits, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(284.5)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(292.8)<span></span>
</td>
<td class="num">(288.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NetFinanceCostRelatedPartyTransactions', window );">Net finance cost, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschInbevServicesLlcMember', window );">Anheuser-Busch Inbev Services LLC [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradeReceivablesRelatedPartyTransactions', window );">Trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.8<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradeReceivablesRelatedPartyTransactions', window );">Other trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">29.1<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">15.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradePayablesRelatedPartyTransactions', window );">Trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradePayablesRelatedPartyTransactions', window );">Other trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(6.1)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(3.1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions', window );">Borrowings and interest payable, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsPayableRelatedPartyTransactions', window );">Dividends payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_CompaiaCerveceraAmbevPeruSacMember', window );">Compa&#241;ia Cervecera Ambev Peru S.A.C. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradeReceivablesRelatedPartyTransactions', window );">Trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">7.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradeReceivablesRelatedPartyTransactions', window );">Other trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradePayablesRelatedPartyTransactions', window );">Trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(4.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradePayablesRelatedPartyTransactions', window );">Other trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions', window );">Borrowings and interest payable, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsPayableRelatedPartyTransactions', window );">Dividends payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions', window );">Buying/service fees/rentals, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(8.6)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sales, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1.5<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RoyaltiesAndBenefitsRelatedPartyTransactions', window );">Royalties/benefits, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NetFinanceCostRelatedPartyTransactions', window );">Net finance cost, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_CerveceriaModeloDeMexicoSDeRlDeCvMember', window );">Cervecer&#237;a Modelo de Mexico S. de R.L. de C.V. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradeReceivablesRelatedPartyTransactions', window );">Trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">91.6<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1.1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradeReceivablesRelatedPartyTransactions', window );">Other trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">5.8<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradePayablesRelatedPartyTransactions', window );">Trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(589.3)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(444.1)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradePayablesRelatedPartyTransactions', window );">Other trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(59.7)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions', window );">Borrowings and interest payable, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsPayableRelatedPartyTransactions', window );">Dividends payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions', window );">Buying/service fees/rentals, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(749.1)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(596.0)<span></span>
</td>
<td class="num">(257.7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sales, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">0.4<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">2.0<span></span>
</td>
<td class="nump">1.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RoyaltiesAndBenefitsRelatedPartyTransactions', window );">Royalties/benefits, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(45.8)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(46.9)<span></span>
</td>
<td class="num">(52.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NetFinanceCostRelatedPartyTransactions', window );">Net finance cost, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_InbevBelgiumNvMember', window );">Inbev Belgium N.V. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradeReceivablesRelatedPartyTransactions', window );">Trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">0.1<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">0.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradeReceivablesRelatedPartyTransactions', window );">Other trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">23.8<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">17.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradePayablesRelatedPartyTransactions', window );">Trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(33.8)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(17.5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradePayablesRelatedPartyTransactions', window );">Other trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(0.2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions', window );">Borrowings and interest payable, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsPayableRelatedPartyTransactions', window );">Dividends payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions', window );">Buying/service fees/rentals, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(73.6)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(77.0)<span></span>
</td>
<td class="num">(73.3)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sales, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="nump">0.1<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RoyaltiesAndBenefitsRelatedPartyTransactions', window );">Royalties/benefits, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NetFinanceCostRelatedPartyTransactions', window );">Net finance cost, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AmbrewSaMember', window );">Ambrew S.A. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradeReceivablesRelatedPartyTransactions', window );">Trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradeReceivablesRelatedPartyTransactions', window );">Other trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradePayablesRelatedPartyTransactions', window );">Trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradePayablesRelatedPartyTransactions', window );">Other trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions', window );">Borrowings and interest payable, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsPayableRelatedPartyTransactions', window );">Dividends payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(89.9)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(89.9)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_InterbrewInternationalBvMember', window );">Interbrew International B.V. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradeReceivablesRelatedPartyTransactions', window );">Trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradeReceivablesRelatedPartyTransactions', window );">Other trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradePayablesRelatedPartyTransactions', window );">Trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradePayablesRelatedPartyTransactions', window );">Other trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(212.5)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(209.4)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions', window );">Borrowings and interest payable, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(48.3)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(30.5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsPayableRelatedPartyTransactions', window );">Dividends payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(590.9)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(590.9)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions', window );">Buying/service fees/rentals, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sales, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RoyaltiesAndBenefitsRelatedPartyTransactions', window );">Royalties/benefits, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NetFinanceCostRelatedPartyTransactions', window );">Net finance cost, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(26.0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_CerveceiraModeloDeGuadalajaraSaMember', window );">Cervecer&#237;a Modelo de Guadalajara S.A. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradeReceivablesRelatedPartyTransactions', window );">Trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradeReceivablesRelatedPartyTransactions', window );">Other trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradePayablesRelatedPartyTransactions', window );">Trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(15.7)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradePayablesRelatedPartyTransactions', window );">Other trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(54.5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions', window );">Borrowings and interest payable, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsPayableRelatedPartyTransactions', window );">Dividends payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions', window );">Buying/service fees/rentals, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(63.0)<span></span>
</td>
<td class="num">(356.9)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sales, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RoyaltiesAndBenefitsRelatedPartyTransactions', window );">Royalties/benefits, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NetFinanceCostRelatedPartyTransactions', window );">Net finance cost, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember', window );">Other related parties [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradeReceivablesRelatedPartyTransactions', window );">Trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">13.9<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">2.6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradeReceivablesRelatedPartyTransactions', window );">Other trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">8.6<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">7.3<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradePayablesRelatedPartyTransactions', window );">Trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(73.8)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(6.2)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradePayablesRelatedPartyTransactions', window );">Other trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(3.0)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(14.4)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions', window );">Borrowings and interest payable, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsPayableRelatedPartyTransactions', window );">Dividends payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions', window );">Buying/service fees/rentals, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(91.1)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(45.6)<span></span>
</td>
<td class="num">(74.0)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sales, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">8.1<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">0.3<span></span>
</td>
<td class="nump">0.6<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RoyaltiesAndBenefitsRelatedPartyTransactions', window );">Royalties/benefits, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(35.9)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(32.2)<span></span>
</td>
<td class="num">R$ (1.1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NetFinanceCostRelatedPartyTransactions', window );">Net finance cost, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(16.8)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_BogotBeerCompanyBbcSasMember', window );">Bogot&#225; Beer Company BBC S.A.S. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradeReceivablesRelatedPartyTransactions', window );">Trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradeReceivablesRelatedPartyTransactions', window );">Other trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">211.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradePayablesRelatedPartyTransactions', window );">Trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradePayablesRelatedPartyTransactions', window );">Other trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(211.0)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions', window );">Borrowings and interest payable, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsPayableRelatedPartyTransactions', window );">Dividends payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_BavariaSaMember', window );">Bavaria S.A. [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions', window );">Buying/service fees/rentals, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="num">(3.5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions', window );">Sales, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">23.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_RoyaltiesAndBenefitsRelatedPartyTransactions', window );">Royalties/benefits, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_NetFinanceCostRelatedPartyTransactions', window );">Net finance cost, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_PanamaHoldingMember', window );">Panam&#225; Holding [member]</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradeReceivablesRelatedPartyTransactions', window );">Trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradeReceivablesRelatedPartyTransactions', window );">Other trade receivables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">20.3<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_TradePayablesRelatedPartyTransactions', window );">Trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_OtherTradePayablesRelatedPartyTransactions', window );">Other trade payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="num">(4.0)<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions', window );">Borrowings and interest payable, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_DividendsPayableRelatedPartyTransactions', window );">Dividends payables, related parties</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr><td colspan="6"></td></tr>
<tr><td colspan="6"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">The amount represents the grade operations (purchase and sale) and the reimbursement between the companies of the group.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_BorrowingsAndInterestPayableRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of borrowings and interest payable resulting from related party transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_BorrowingsAndInterestPayableRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of buying, service fees and rental expenses resulting from related party transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_BuyingServiceFeesAndRentalsRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_DividendsPayableRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of dividends payable resulting from related party transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_DividendsPayableRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_NetFinanceCostRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net finance cost resulting from related party transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_NetFinanceCostRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_OtherTradePayablesRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other trade payables resulting from related party transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_OtherTradePayablesRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_OtherTradeReceivablesRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of other trade receivables resulting from related party transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_OtherTradeReceivablesRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_RoyaltiesAndBenefitsRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of royalties and benefit expenses resulting from related party transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_RoyaltiesAndBenefitsRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TradePayablesRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of trade payables resulting from related party transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TradePayablesRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_TradeReceivablesRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of trade receivables resulting from related party transactions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_TradeReceivablesRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue arising from the sale of goods in related party transactions. [Refer: Revenue; Related parties [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Name IAS<br> -Number 24<br> -IssueDate 2017-01-01<br> -Paragraph 21<br> -Subparagraph a<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=24&amp;date=2017-03-01&amp;anchor=para_21_a&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_RevenueFromSaleOfGoodsRelatedPartyTransactions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschInBevNvMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschInBevNvMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschProcurementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschProcurementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschPackagingGroupIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschPackagingGroupIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschInbevUsaLlcMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschInbevUsaLlcMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschInbevServicesLlcMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AnheuserBuschInbevServicesLlcMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_CompaiaCerveceraAmbevPeruSacMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_CompaiaCerveceraAmbevPeruSacMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_CerveceriaModeloDeMexicoSDeRlDeCvMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_CerveceriaModeloDeMexicoSDeRlDeCvMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_InbevBelgiumNvMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_InbevBelgiumNvMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AmbrewSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_AmbrewSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_InterbrewInternationalBvMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_InterbrewInternationalBvMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_CerveceiraModeloDeGuadalajaraSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_CerveceiraModeloDeGuadalajaraSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=ifrs-full_OtherRelatedPartiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_BogotBeerCompanyBbcSasMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_BavariaSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_BavariaSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CategoriesOfRelatedPartiesAxis=abev_PanamaHoldingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CategoriesOfRelatedPartiesAxis=abev_PanamaHoldingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6812988304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 33 - Group Companies - Main Group Companies (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Dec. 31, 2017</div></th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_AR', window );">ARGENTINA | CERVECERIA Y MALTERIA QUILMES SAICA Y G [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">99.75%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_BO', window );">BOLIVIA | CERVECERIA BOLIVIANA NACIONAL S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">85.67%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_BR', window );">BRAZIL | AROSUCO AROMAS E SUCOS LTDA. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_BR', window );">BRAZIL | CRBS S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_BR', window );">BRAZIL | CERVEJARIA Z.X. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">86.42%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_CA', window );">CANADA | LABATT BREWING COMPANY LIMITED [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_CL', window );">CHILE | CERVECERIA CHILE S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_ES', window );">SPAIN | JALUA SPAIN, S.L. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_LU', window );">LUXEMBOURG | AMBEV LUXEMBOURG [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_GT', window );">GUATEMALA | INDUSTRIAS DEL ATL&#193;NTICO, SOCIEDAD ANONIMA [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">50.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_PY', window );">PARAGUAY | CERVECERIA PARAGUAYA S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">87.36%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_DO', window );">DOMINICAN REPUBLIC | Cervecer&#237;a Nacional Dominicana S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">55.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_UY', window );">URUGUAY | LINTHAL S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_UY', window );">URUGUAY | CERVECERIA Y MALTERIA PAYSSAND&#218; S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">99.93%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_UY', window );">URUGUAY | MONTHIERS SOCIEDAD ANONIMA [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_GeographicalAreasAxis=country_PA', window );">PANAMA | Cervecer&#237;a Nacional Dominicana S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Main group companies</a></td>
<td class="nump">100.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a subsidiary attributable to the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 19B<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_AR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_AR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceriaYMalteriaQuilmesSaicaYGMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceriaYMalteriaQuilmesSaicaYGMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_BO">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_BO</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceriaBolivianaNacionalSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceriaBolivianaNacionalSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_BR">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_BR</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_ArosucoAromasESucosLtdaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_ArosucoAromasESucosLtdaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CrbsSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CrbsSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CervejariaZxMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CervejariaZxMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_CA">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_CA</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_LabattBrewingCompanyLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_LabattBrewingCompanyLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_CL">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_CL</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceriaChileSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceriaChileSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_ES">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_ES</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_JaluaSpainSlMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_JaluaSpainSlMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_LU">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_LU</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_AmbevLuxembourgMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_AmbevLuxembourgMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_GT">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_GT</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_IndustriasDelAtlnticoSociedadAnonimaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_IndustriasDelAtlnticoSociedadAnonimaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_PY">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_PY</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceriaParaguayaSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceriaParaguayaSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_DO">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_DO</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceraNacionalDominicanaSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceraNacionalDominicanaSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_GeographicalAreasAxis=country_UY">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_UY</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_LinthalSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_LinthalSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceriaYMalteriaPayssandSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_MonthiersSociedadAnonimaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_MonthiersSociedadAnonimaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_GeographicalAreasAxis=country_PA</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</html>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>180
<FILENAME>R164.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<head>
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<span style="display: none;">v3.8.0.1</span><table class="report" border="0" cellspacing="2" id="idp6802255472">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Note 35 - Events After the Reporting Period (Details Textual) - BRL (R$)<br> R$ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">1 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jan. 18, 2018</div></th>
<th class="th"><div>Jan. 31, 2018</div></th>
<th class="th"><div>Dec. 31, 2017</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 2,553.0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=abev_EnteringIntoTwoLoanAgreementsMember', window );">Entering into two loan agreements [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_Borrowings', window );">Total borrowings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">R$ 2,000.0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_BorrowingsTerm', window );">Borrowings, Term</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1 year<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=abev_PartialExerciseOfPutOptionForFurtherOwnershipOfSubsidiaryMember', window );">Partial exercise of put option for further ownership of subsidiary [member] | Cervecer&#237;a Nacional Dominicana S.A. [member] | E. Le&#243;n Jimenes S.A. [member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_abev_StatementLineItems', window );"><strong>Statement Line Items [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary', window );">Proportion of ownership interest in subsidiary</a></td>
<td class="nump">85.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests', window );">Proportion of ownership interests held by non-controlling interests</a></td>
<td class="nump">15.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_BorrowingsTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Period of time between issuance and maturity of borrowings, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_BorrowingsTerm</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_abev_StatementLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">abev_StatementLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>abev_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_Borrowings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of outstanding funds that the entity is obligated to repay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name IAS<br> -Number 1<br> -IssueDate 2017-01-01<br> -Paragraph 55<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=1&amp;date=2017-03-01&amp;anchor=para_55&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_Borrowings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestInSubsidiary">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interest in a subsidiary attributable to the entity. [Refer: Subsidiaries [member]]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 17<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_17_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IAS<br> -Number 27<br> -IssueDate 2017-01-01<br> -Paragraph 16<br> -Subparagraph b<br> -Clause iii<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&amp;num=27&amp;date=2017-03-01&amp;anchor=para_16_b_iii&amp;doctype=Standard<br> -URIDate 2017-03-09<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 19B<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_19B_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestInSubsidiary</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The proportion of ownership interests in a subsidiary held by non-controlling interests. [Refer: Subsidiaries [member]; Non-controlling interests]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name IFRS<br> -Number 12<br> -IssueDate 2017-01-01<br> -Paragraph 12<br> -Subparagraph c<br> -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IFRS&amp;num=12&amp;date=2017-03-01&amp;anchor=para_12_c&amp;doctype=Standard<br> -URIDate 2017-03-09<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ifrs-full_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=abev_EnteringIntoTwoLoanAgreementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=abev_EnteringIntoTwoLoanAgreementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=abev_PartialExerciseOfPutOptionForFurtherOwnershipOfSubsidiaryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_NonadjustingEventsAfterReportingPeriodAxis=abev_PartialExerciseOfPutOptionForFurtherOwnershipOfSubsidiaryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceraNacionalDominicanaSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_SignificantInvestmentsInSubsidiariesAxis=abev_CerveceraNacionalDominicanaSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ifrs-full_CounterpartiesAxis=abev_ELenJimenesSaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ifrs-full_CounterpartiesAxis=abev_ELenJimenesSaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>181
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
